Here are some
statistics about hair care and beauty salons:
·
Revenue
In 2023, the hair salon industry is estimated to generate
$91.23 billion in revenue.
·
Growth rate
The hair salon market is expected to have a 3.03% compound
annual growth rate (CAGR) from 2023 to 2027.
·
Number of businesses
As of 2023, there are 952,909 hair salon businesses in the
US, which is a 0.2% increase from 2022.
·
Profit margin
Startup Opinions says that the average profit margin of a
beauty salon is around 8.2%. However, depending on the management, the
profit margin can vary between 2% and 17%.
·
Market size
In 2021, the global hair salon market size was valued at
USD 50000.0 million. It is expected to expand at a CAGR of 1.42% during
the forecast period, reaching USD 54400.0 million by 2027.