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Why You Should Invest In A Hair Salon

If you went out and asked a bunch of people whether they wanted to make money or spend money, most of them would say they want to make money. It’s an appealing prospect after all: everyone wants to have a steady source of income that gets them a continuous supply of money. And everybody wants to do it fast—without having to spend effort or money on the task.

Sadly for them, money doesn’t come that easy. Especially money in large amounts which can only be gained through one outlet: by investing in a venture that pays—and pays well.

How Much Can Salons Bring You?

Let’s look at the numbers: in 2017, the salon industry brought home a collective of over 55 billion dollars. Not only is the salon industry a visibly and rapidly growing venture in the country, it is one of the most lucrative industries in the world, having grown by 3% in the last year. There are actually more salons than cinemas in the United States—and there are 360,000 of them. On an average basis per month, the number of people visiting salons is 100 million.

It goes without saying that salons are lucrative and productive, and a great investment sure to bring the investors good dough in the long run.

Here are our top picks on why you need to invest in a hair salon:

1. It’s an Industry that Continues to Grow

A multimillion dollar industry that doesn’t stop growing, the hair and beauty salon industry is a cow that can be cashed all year round and through thick and thin. If it did not fall into chaos during the Great Recession (it faced a downfall of a mere 0.1 percent when the nation’s remaining private sector faced a collective downfall of 1 percent) then it has close to zero chances of being unfruitful in economically stable conditions.

With a steady stream of customers who are ever-ready to spend on beauty services, this is a fertile industry that is never going out of “fashion”. Investing in the beauty industry means you maintain a steady and sure source of income plus additional benefits and bonuses before big festivals and during wedding seasons when people flock to such establishments in droves.

The beauty and the salon industry are only going to stop being fruitful when hair stops growing on people’s heads—and since we’re all mammals, that is probably never happening.

2. Low Losses

When the eocnomy falls, consumers cut down on certain expenses like certain additional expenses. However when it comes to the hair industry the losses are pretty lean thanks to everybody constantly needing grooming.

Self grooming is something that affects people’s daily lives and thus the beauty industry has little to lose. Even during times of recession and a failing economy, people regularly visit salons and spas to get their hair cut and for other essentials.

Not only do these establishments fail to recede and descend during times of crisis, but they actually have the potential to grow and thrive in such times; since other indutries and businesses tend to go down on revenue.

3. You Don’t Need Prior Experience

Most industries require that investors have a certain level of prior experience in the respective fields wherein they’re investing. Not so with the salon industry which hardly requires any prior experience in the field. Experience in doing business is always a plus but field knowledge isn’t a requirement for anyone looking to break into the salon industry—unless, that is, you plan on joining your team in the hair cutting and styling.

When it comes to the question of training, then it’s just the employees who need it—and good training at that. As an owner or an investor all you need to do is know how to manage the business part of it right.

Instead of field experience and training what you need are courses in business management and marketing ideas. You can meet all your prospective financial goals and excel where the generation of revenue is concerned, without having any field experience based solely on how well you manage to run the business.

For individuals just entering the industrial foray managing their businesses becomes an even easier task since they can observe, take note of, and learn from existing business models. They can compare and contrast how well or how badly businesses and establishments in certain neighborhoods are doing and use the information to meet and resolve any business challenges that they might face.

4. They’re Comparatively Easier to Operate

The reason behind so many people’s increased interest in investing in the beauty industry is simple: these businesses require comparatively fewer funds in the start-up phase. The string of customers who begin visiting the establishment (if you have done the marketing right) make up for most of the funding and spending.

This works even bigger wonders when newer enthusiasts partner with a running chain or a franchise that has already earned a name for themselves in the market. If they’re instantly recognizable and well-known, a steady stream of customers is guaranteed and you can even have an established model for optimization from the franchise runners.

5. You Have to Thank Popular Culture

The standing fact about popular culture is that it focuses on changing trends and needs which continue to propel the beauty industry. If the beauty industry is a machine, it is popular culture which oils this machine time and again, and keeps it in working order.

Aristotle famously said that mimicry is one of the most natural things that come to man. We can attest to his observation by making note of how popular culture influences trends and how those trends then catch fire and spread.

For as long as there will be films and movies and celebrities, there will be people playing the role of trendsetters. And these trends will not come to stay stagnant or be forgotten soon enough: they’ll be pursued and followed religiously, and with celebrities like Emma Watson and Katy Perry brandishing flaming new haircuts from time to time, there’s never going to be a dearth of hairstyles to emulate. The hair industry can be sure of having business on a perpetual basis.

Not Sure Where to Start?

Investing in a hair salon is an infallible way to have a guaranteed, continuous supply of income. And the chances of having that income increased from time to time is actually a possibility, with all that’s needed being creative marketing ideas and workable solutions.

The industry has much promise and sure potential, with a great prospective for profits. Investing in such a lucrative business pays off in the long run and pays off exceptionally well—the only catch being clever marketing.

There’s much that goes into starting a business venture related to hairdressing and the beauty industry, but where it is difficult to start, it’s very productive and fruitful to follow through with. Plus, you’ll have plenty of ideas your way with our e-book and our resourceful blog to help you.

It might be difficult but it is hardly impossible.  If you’re not sure where to start, run though our blog to get the grinding wheels inside your mind whirring!