The $65 billion haircare industry really is in a class all its own. How many industries can you think of that can make the following claims:
Regardless of the economic climate, people still get haircuts. In fact, cosmetology has been ranked as the most recession-resistant industry a business owner can pursue.1
A haircut is not something that can be done by machine or shipped overseas. Honestly, when is the last time you saw a Flowbee?
On average, people get haircuts every 4-6 weeks; they always have and likely always will.
Unlike leg warmers and pet rocks, haircuts are not likely to go out of style any time soon.
Yes, this is an advantage. Although Great Clips is the biggest hair salon brand, we garner just 1.3% of the total market. That means there are always customers to earn! As the industry continues to lose barbershops, beauty shops and independent stylists, we anticipate our market share continuing to increase.
The Bureau of Labor Statistics projects a 10% jump in career opportunities for Barbers, Hair Stylists, and Cosmetologists between 2014 and 20241. Currently, there are 2.2 million professionals in the cosmetology industry.2
1. The U.S. Bureau of Labor Statistics
2. National Accrediting Commission of Cosmetology Arts and Sciences