Hair Care Services
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 119,400 hair care service companies in the US, including beauty shops, hair salons, and barber shops, provide hair cutting, coloring, and styling services. Hair salons may also provide skin and nail care services. Barber shops may shave or trim men’s beards. Companies often sell hair care products. The vast majority of hair care service providers (95%) are beauty salons.
Competition For Ancillary Services
Beauty parlors compete with spas, nail salons, and physician’s offices for ancillary services related to skin and nail care.
Dependence On Skilled Labor
The reputation and success of an individual hair care establishment is highly dependent on the quality of service and staff.
Industry size & Structure
The average hair care service provider operates out of a single location, employs 3 workers, and generates between $219,000 and $239,000 annually.00 and $301,000 annually.
- The hair care services industry consists of about 119,400 establishments that employ 352,400 workers and generate over $26 billion annually.
- The vast majority of hair care service providers (95%) are beauty salons.
- The industry is highly fragmented; the top 50 salon firms account for 13.6% of total revenue.
- The hair care services industry includes national chains, franchises, and independent operators.
Industry Forecast
Hair Care Services Industry Growth
Recent Developments
Nov 29, 2022 - New Platform Aims to Disrupt Salon Industry
- A new business directory called Find Your Hairstylist (FYH) that allows customers to look for individual stylists instead of searching by salon, according to American Salon. More than 23,000 hairstylists are listed on Findyourhairstylist.com. The platform allows hair professionals to grow their businesses by increasing visibility and advertising specific areas of expertise. FYH also bridges a gap by allowing clients to connect with stylists directly.
- Hair care is among a group of products and services for which inflation tends to be “sticky,” and prices for such products and services could remain high even after overall inflation begins to abate, according to The Wall Street Journal. The Atlanta Fed designates a product or service “flexible” when its price changes more often than about every four months, while things labeled “sticky” take more than four months to see prices move. Hair care services, furniture, home furnishings, and appliances are among the things deemed sticky by the Atlanta Fed, while flexible categories include fresh fruits and vegetables, shoes, and clothing.
- Online beauty and wellness marketplace provider, StyleSeat, analyzed Google business listings in the 50 largest US cities to determine the cities that have the best hair care and other beauty and wellness offerings. StyleSeat ranked the cities according to the number of hair-related businesses per capita, and the businesses’ average consumer ratings. The results showed that the best cities in the US for hair services, in order, were: Portland, Oregon; Buffalo, New York; Richmond, Virginia; Birmingham, Alabama, and Salt Lake City, Utah.
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