Let’s look at some basic statistics:
- Average weekly salon customer counts have increased by 10% in the last four years
- Hair Care is a 59 Billion dollar a year industry that is consistently growing
- Men typically cut their hair twice as often as ladies
- 35% of men currently use a full service salon and this number continues to increase
- Total operating revenue for the personal services industry in Canada went up 3.8% in 2008 to reach $9.5 billion
- Male specific grooming products constitute one of those markets that now outpace the overall beauty/grooming retail markets in many countries of the world, despite economic recession. Valued at $19.7 billion worldwide in 2009, male-specific grooming products will mushroom to $28.0 billion by 2014, http://www.reportlinker.com/p0158568/Men-s-Grooming-Products-A-Global-Analysis.html
Hair care is a booming business, in particular, Men’s grooming is growing year after year. More men are paying more attention to their hair maintenance and personal grooming. Pop culture has changed the way men look at grooming and personal care in a very positive manner.
Hair care businesses are a solid investment due to modest start up costs, low operating costs and strong growth potential. Hair care is typically an all cash business so there is easy access to your money. You also won’t have to deal with perishables, waste, or manufacturing.