Fast growing and prolific, the beauty salon industry is developing talent to grow a loyal customer base willing to spend on expanded products and services. There are nearly one million people employed in the primary service segments of the market, and there are strong growth expectations, according to the Bureau of Labor Statistics. Cosmetologists, manicurists, hairdressers, and pedicurists are all forecast to have a 10% growth by 2024. Brand new salons will open, creating more competition for established businesses. SBDCNet reports that there will be 1.3 million salon and barber shop operators this year. The cost of starting a salon is minimal, with some leases going for just $75 to $200 per month in some locations, says Forbes, so competition may get stiffer in some areas. Our cost-effective promotional items are a great way for these businesses to get their foot in the door!
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