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2024 U.S. Industry Statistics & Market Forecast - Beauty Salons
Market Size & Industry Statistics
The total U.S. industry market size for Beauty Salons:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Beauty Salons industry include:- Growing demand for organic and natural products
- Increasing adoption of AR and VR for personalized service experiences
- Rise in male grooming services
- Expansion of services to include wellness and spa treatments
- Surge in e-commerce and online booking systems
- Influence of social media on consumer preferences
- Enhancement in sustainable and eco-friendly practices
- Growing popularity of non-invasive cosmetic procedures
- Customization and personalization of beauty services
- Increasing number of freelance beauty professionals and home salons
- Integration of health and beauty services (Beautyceuticals)
- Shift towards holistic health approaches in beauty treatments
Product & Services Breakdown
Research products and services in the Beauty Salons industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Hair Care Services |
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Permanent Hair Texture Modification |
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Hair Coloring And Tinting |
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Hair Cut And Styling Services |
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Other Hair Care Services |
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Nail Care Services |
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Manicure Services |
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Pedicure Services |
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Skin Care Services |
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Facial Services |
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Other Skin Care Services |
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Hair Removal Services |
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Hair Removal Services - Temporary |
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Massage Services |
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Massage Services - Therapeutic |
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Rental Of Non-Residential Space In Buildings Or Other Facilities |
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Rental Of Booths And Chairs In Beauty And Personal Care Establishments |
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Resale Of Merchandise |
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Resale Of Cosmetic Products |
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Resale Of Other Merchandise |
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All Other Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
|
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Beauty Salons company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Beauty Salons industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Beauty Salons measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
|
| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 3% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 3% | |||
| Healthcare Support Occupations | 7% | |||
| Other Healthcare Support Occupations | 6% | |||
| Massage Therapists | 6% | |||
| Massage Therapists | 6% | |||
| Personal Care and Service Occupations | 72% | |||
| Personal Appearance Workers | 66% | |||
| Barbers, Hairdressers, Hairstylists and Cosmetologists | 39% | |||
| Hairdressers, Hairstylists, and Cosmetologists | 38% | |||
| Miscellaneous Personal Appearance Workers | 26% | |||
| Manicurists and Pedicurists | 19% | |||
| Skincare Specialists | 6% | |||
| Office and Administrative Support Occupations | 13% | |||
| Information and Record Clerks | 10% | |||
| Receptionists and Information Clerks | 9% | |||
| Receptionists and Information Clerks | 9% | |||
Beauty Salons Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Beauty Salons industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Beauty Salons industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Beauty Salons industry. |
Source:
Innovation News
- Jan 26, 2024: Hello Sugar TN trademarks "" - Body waxing services; Cosmetic hair removal by means of sugaring
- Dec 22, 2023: Studs trademarks "R(EAR)SCAPE" - Ear studs; Earrings; Pierced earrings; Hoop earrings
- Dec 08, 2023: Bombshell Salon DE Beaute trademarks "BOMBSHELL BRAZILIAN WAXING & BEAUTY LOUNGE" - downloadable mobile application software for viewing, scheduling, and modifying appointments for beauty and hair salon services
- Oct 12, 2023: LyGenesis raises $20 million in funding.
- Jul 20, 2023: Living Proof patents Additives For Coloring Agents And Methods Of Use Thereof
- Mar 09, 2023: Living Proof patents Methods For Strengthening And Repairing Hair
- Feb 21, 2023: Personal Best Products raises $1 million in funding.
- Nov 03, 2022: Living Proof patents Cosmetic Compositions Comprising Chitosan And Hydroxypropyl Methylcellulose And Their Use For Improving Hair Strength And Related Properties
- Jan 04, 2022: Edge Beauty raises $17 million in funding.
Recent Federal Contracts for Beauty Salons
- Mar 27, 2024: LAWRENCE, VIRGINIA (Alexandria, VA) awarded $8,340
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