Submitted by: Submitted by ekapot
Views: 44
Words: 752
Pages: 4
Category: Business and Industry
Date Submitted: 07/08/2014 10:02 PM
Executive Summary
A beauty salon or beauty parlor (beauty parlour) (or sometimes beauty shop) is an establishment dealing with cosmetic treatments for men and women. Other variations of this type of business include hair salons and spas.
There is a distinction between a beauty salon and a hair salon and although many small businesses do offer both sets of treatments; beauty salons provide more generalized services related to skin health, facial aesthetic, foot care, aromatherapy, — even meditation, oxygen therapy, mud baths, and many other services.
Total revenues for all salon industry services (hair, skin, nails) plus salon retail grew at a robust 4.2 percent in 2011 to $72.41 billion, according to the new 2011 Professional Salon Industry Hair care Study from Professional Consultants & Resources, a leading salon industry strategic consulting and data source. The total U.S. salon hair care market segment (services and retail), consisting of nearly 280,000 salons and barbershops measured $61.32 billion and grew at about 3.5 percent. “The state of our industry is strong,” says Cyrus Bulsara, president of Professional Consultants & Resources. “Economic recovery, looser credit and higher disposable incomes all combined to increase salon visits and frequencies for services, which resulted in better product sales to salons and clients. Hair color, straightening/smoothing and basic cutting and styling services were all major growth-drivers, primarily at booth-rentals, family/economy chains and men's barbershop chains. Nail care rose a phenomenal 24.5%, the highest on record.”
Revenue growth is expected to improve over the next five years, rising at an average annual rate of 3.3% to $49.3 billion by 2017…this will be driven by an expected increase in per capita disposable income and declining unemployment toward the end of the five-year period…higher disposable incomes could also lead hair salon customers to spend more on higher-value services like...