Hair and beauty franchisees often enjoy both multiple revenue streams and comparatively low overheads.
Services might extend beyond haircuts to manicures, hair
- Women continue to account for the bulk of revenue, but the male grooming market has burgeoned in recent years
- The hair industry doesn’t suffer from online competition like many other retailers
- Hair franchises are well equipped to thrive amid intense competition due to dedicated customers.
Virtually everyone needs to pay for a haircut now and again.
To some extent, this even goes for beauty treatments. One industry veteran told the guardian that beauty treatments are “no longer a luxury, it’s just part of everyday living. We’ve had clients before who’ve actually factored in their beauty treatment as part of their divorce settlement.”
Hair salon franchises, which typically pass on bulk-buying discounts from sourcing stock for a national
Their scale also gives them a financial edge in marketing terms. Social media
Barber franchises are thriving thanks to a large growth in the male grooming market. Now one of the fastest-growing retail sectors, this industry has benefitted from the resurgence of both the beard and the traditional wet shave.
One successful exponent is Headcase. Franchisees can manage their shop part-time, benefit from an extensive social media presence, bespoke EPOS system that allows remote monitoring of multiple shops and a customer loyalty app.
Is a hair franchise for me?
The attributes you need in this sector partly depend on whether you’re a full-time owner or an investor who employs a manager. Some of the most common attributes a hair franchisor will request include:
- Entrepreneurial mindset
- General business and financial acumen
- Leadership and people management skills
- Customer service skills
- Previous experience within the hair industry not always required
The structure of hair franchises
One major franchise claims its most successful salons have surpassed £1 million in annual revenue – not bad for a small retail outlet.
A reputable franchisor should provide support in most of the following areas:
- Securing finance and formulating a business plan
- Finding the right location, lease negotiation
- Equipment and product supplies at
- Initial and continuous training for you and your team
- Support in marketing, operations, finance, HR/recruitment
- Software for appointment scheduling, inventory management and more
- Professional website – perhaps with your own microsite – with online appointment booking
- National marketing campaigns, strong social media presence
andcustomer rewards schemes
- Help with insurance and other compliance issues
As well as quizzing the franchisor on their support in these areas, you should also enquire on the following:
- Will you have to work in the business full-time or can you be a part-time investor? What precisely will your role involve?
- Is there scope for opening additional salons?
- Do they provide services/treatments beyond hair styling and to what market – whether solely women, men or both, or at the budget or premium end?
Buying a hair salon franchise requires franchisees with a large amount of passion for the industry. Even with provided training and on-going support, you must be able to throw yourself into the demanding and non-stop environment of your hair salon.