A Service Always in Need
In good times and bad, hair continues to grow, and people are going to seek out hair salons to meet their grooming needs. Time and again, Sport Clips is a top choice. After a few challenging years, the outlook is bright for the personal care service industry. According to federal data from the U.S. Bureau of Labor Statistics, the personal care services industry, which includes barbershops, beauty and nail salons, as well as other personal care services, is projected to grow 8.1 percent from 2020 to 2030, nearly five times faster than the average 1.7 growth for total employment.
“A new haircut or manicure can boost self-confidence and make people feel better,” the BLS report said. “As a result, many turn to professionals at barbershops, beauty and nail salons, and other personal care services for help to get that perfect haircut or style. The workers in this industry provide many beauty and wellness related treatments for hair, skin, nails, and body. According to employment projections from the U.S. Bureau of Labor Statistics (BLS), the future looks bright for those who provide these services.”
The Future of the Hair Salon Industry is Bright
Just as encouraging, the Future Market Insights research study firm estimated the global market for salon services to experience “unprecedented growth,” reaching $280 billion in just 10 years, with 40% coming from North America. “In the past 10 years, the salon services market has become a priority for people around the world,” the report says. “This surge in spending has resulted in significant expansion within salon services across all markets globally. Consumer awareness about the benefits associated with beauty salons is also propelling the growth of the salon services market.”
As of 2023, the salon services market was valued at $233.8 billion. From 2023-33, the industry is poised to grow at a 7.46% CAGR, meaning that by 2033, the salon service market will have reached a valuation of $480 billion! Digging into the numbers, Future Market Insights said the hair care segment accounted for the largest share of growth, and “is expected to continue this trend over the forecast period.” The numbers don’t lie – it’s simply an amazing time to invest in the hair salon industry.
Sport Clips Meets the Demand
With all that demand for hair care services, it’s going to take a lot more providers. But not all hair salons are created equal. Sport Clips, founded in 1993, is a legacy brand known by consumers everywhere. Now with more than 1,800 locations in North America, and a footprint in all 50 U.S. states, Sport Clips has become a dominant brand in the hair salon industry. Despite this strong market presence, Sport Clips is only expected to grow in the coming years. And, with an easy-to-scale, easy-to-replicate business model, many of our franchise owners boast anywhere between 10 to 40 locations.
“Sport Clips is stronger than ever before,” says Edward Logan, CEO of Sport Clips. “We’ve proven that we’re not only recession-resistant, but we’re also pandemic-resistant. This is a very stable business with steady cash flow and straightforward business model. Now is a great time to invest in Sport Clips, because as we head into 2023, we’re excited about the great real estate opportunities that exist right now, as well as the disruption of client behavior. As people change their buying behavior and their habits, the brands that go out and capture those clients are going to win an outsize market share. That’s going to be us because that’s how we’re thinking.”
Unrivaled Support Team
Sport Clips has always invested heavily in its support team, evidenced by 30 years of growth. But recently, the franchise system made some exciting upgrades that’s going to push the bar even higher. Sport Clips takes every possible measure to help frachisees continue to thrive and prosper, providing you with all the tools, resources and coaching necessary.
From the get-go, we teach you how to hire and retain a team, how to manage compensation and scheduling, how to use technology and understand financials and store performance, and how to market effectively in your community. And that’s just the tip of the iceberg. We also help with all the nitty-gritty details of selecting and securing a site location, working with landlords, and even helping with the grand opening. And, as long as you’re a Sport Clips franchisees, you have the backing support of the entire franchise system.
“We’re closing in on 1,900 locations,” says Gordon Logan, Founder of Sport Clips. “We know this business works. We’ve been able to help entrepreneurs change their lives through business ownership. In turn, they’ve been able to create countless opportunities in their communities and give back. We’re going to continue to grow – but we’re growing the right way and with the right people.”
Invest in a Sport Clips Franchise Today
With the hair care service industry never stronger, now is the time to invest in a brand that excels past the competition. Learn more about the Sport Clips investment opportunity by visiting our research pages here or requesting more information today!
