The hair and nail salon industry has continued to achieve great growth over the past five years. According to the ISBIS World Industry Market Research Report, this industry is projected to earn over $61 billion in revenue in 2019. Today, there’s over 1.2 million hair and nail salons across the United States – and this number is expected to increase.
There are many great benefits of owning your own salon. Nothing beats the freedom of being your own boss, setting your own schedule, testing the limits of your own ideas, and having control over your career. Discover the top five benefits of owning your own salon below.
Low Barriers to Entry
Starting your own hair or nail salon is considered to be a pretty smooth process. The barriers to entry are extremely low compared to other industries. The operation of a hair and nail salon requires that you and your staff have the proper licenses to provide personalized services such as, styling hair or giving manicure and pedicures. As long as you have the facility that best suits your salon in size and price, alongside, with low overhead, you have the possibility of earning a great profit.
Convenient and Low-Cost Marketing
In any given month there are over one million people searching online for the nearest salon, and at every moment, someone is learning new beauty tips via social media. The digital world is the best platform for drawing attention to your brand and personalized services. It’s best practice for stylists and technicians to utilize a simple to very creative social media marketing strategy to attract new clients. The convenience and low-cost marketing opportunities available on social media platforms, such as Facebook, Instagram, and SnapChat, helps salon owners invest, save, and earn more money for their business.
Consumer Demand is Increasing
The impact of social media on beauty standards has increased tremendously. No matter the gender or age, many people across the world are on the prowl to find the top products and personalized services to look their absolute best. As disposable income increases and is stabilized, the demand for beauty care needs increases. Many salon owners have reported an increase in the frequency of their client’s salon visits with the rise of income.
Great Love for Personalized Services
The hair and nail salon industry is believed to provide the most highly personalized services of all kinds. The possible use of “gadgetry” and impersonal new technologies would take away from the entire human-to-human experience. The interaction between the stylist or technician and the client cannot be replaced. The ultimate joy of operating a salon is seeing the long-lasting friendships and die-hard loyalty that is birthed in the warm, heartfelt encounters.
Being an Inspirational Leader
It takes much courage to open your own salon, and being a business owner can be a fun and treacherous challenge. As a salon owner, you are a leader and mentor for many others who wish to walk in similar footsteps to yours. It’s a great gift to be able to teach and support others in making their dreams come true. At MyHoodConnect, we encourage business owners to give back to the community by just sharing knowledge and support. Be that salon owner who makes a difference in someone’s life today.