- SIC Code: 7231, 7241
- NAICS Code: 812111, 812112
The US hair care services industry includes about 86,000 establishments (82,000 beauty salons; 4,000 barber shops) with combined annual revenue of about $20 billion.[1]
Landscape
The industry is highly fragmented, and the demand for hair care services is driven by population growth in metropolitan areas. Small companies survive and compete by offering superior service or securing favorable locations. A typical salon occupies about 1,000 to 1,500 square feet and is located in a mall or strip center.
- Barbers, hairdressers, and cosmetologists: 656,000 in 2014, 10% expected growth by 2024.
- Manicurists and pedicurists: 113,600 in 2014, 10% expected growth by 2024.
- Skincare specialists: 55,000 in 2014 with a 12% expected growth by 2024. Specific growth expected for businesses serving men.
- Massage therapists: 168,800 employed in 2014 with a whopping 22% growth by 2024
[1] https://www.franchisehelp.com/industry-reports/beauty-industry-analysis-2020-cost-trends/