The History of the Franchise Business - Learning about
Business Opportunities by Looking into the Past
by Howard Schwartz
Published on this site: July 20th, 2005 - See
more articles from this month...
Need an Idea for a New Business - Hair & Beauty Salons
are Booming Nationwide! Why? Because the Baby Boomers are
Demanding These Personal Care Services. Hair care has been
around as long as humans have been on the planet.
The earliest record of personal hair care dates back 2.5
million years ago, when brushes used to create cave paintings
in Spain and France were adapted for use in hair grooming.
Interestingly, many of the innovations in hair design that
are still used today originated in the late 19th century.
According to 2002 statistics, there were 1.4 million personal
care services (http://www.hjventures.com/writing/Beauty-parlors-shops-Business-
Plan.html) in the United States, 313,000 of which were
beauty and hair salons. The hair salon service industry alone
had revenues of $55.9 billion, while salon product sales were
$5.5 billion. Coloring alone brought in $10.4 billion for
the beauty industry in 2002.
The biggest single customer group is the baby boomer generation,
who by the way now constitute the largest population segment
in America, and who are more than willing to spend money on
a hair care services.
What this means is that the prospects for owners of hair
care businesses are solid and strong. The 2003 Job Demand
Survey, distributed by the National Accrediting Commission
of Cosmetology Arts and Sciences, indicated that average total
income (including tips) for salon owners was $53,150 per year.
There are three ways you can enter the hair industry. You
can open a franchise hair salon, in which you pay money upfront
to use someone else's established name and resources such
as advertising campaigns. You can buy an established salon
from someone who is retiring from the business or has damaged
the business and is forced into bankruptcy. Thirdly, you could
establish your own salon.
So what does it take to be a successful salon entrepreneur
(http://www.hjventures.com/salon-business-plan.html)?
First, it helps to be a risk taker, you have to be willing
to try anything to succeed, you have to have determination
and an entrepreneurial mind-set to be successful and you need
to have a vision and goals for your business long term.
Learn more about owning your own hair salon business:
http://www.hjventures.com/hair-salon-business-plans.html
Howard Schwartz is a partner in several business strategy
groups, including HJ Ventures International, Inc. Howard has
worked with hundreds of entrepreneurs worldwide with a focus
on writing business plans for companies interested in raising
capital from Venture Funds and Angel Investors. Howard's business
plans have secured several million dollars in funding. For
more information:
http://www.hjventures.com
|
