Industry Analysis & Industry Trends
In recent years, hair and beauty salons' revenue and profit have lost their lustre. The recession has taken its toll on the industry, causing consumers to cut back discretionary spending on hair and beauty treatments, which has lowered sales and profit margins for salon owners. During the five years through 2012-13, industry revenue has only breached 1.0% growth once. Revenue is forecast to rise by a tepid 0.5% in 2012-13 as weak economic conditions prevail. During the five years through 2012-13, industry revenue is estimated to grow at a compound annual rate of 0.7% to reach £3.9 billion.
The industry covers hair and beauty salons, as well as self-employed hair professionals and beauticians... purchase to read more
Industry Report - Starting a New Business Chapter
There are relatively low barriers to entry for the industry, as indicated by the high number of small businesses. Capital requirements are relatively low, and self-employed hairdressers and beauticians are able to rent space in existing salons, thus avoiding many of the costs of starting up a salon themselves. Independent operators may also operate from their own homes, or run a mobile business, each involving minimal capital costs.
The industry is not regulated beyond the usual requirements of employment and health and safety laws. Operators do experience a strong level of competition from other salons though, which may deter some from entering the industry... purchase to read more