MENU
SEARCH
The beauty industry has survived when millions of other industries have failed. Then why is it that our industry has such a bad reputation with banks and credit personnel? The public’s perception is that we lack modern management and sophisticated marketing and business-building skills. I can’t tell you how many times I have heard at industry shows and from different bankers that thousands of salons are going out of business.
You have only to talk with industry leaders to find out this isn’t true. Bob Peel of Peel’s Salon Services says new salons are opening all over his territory, and he is now remodeling salons for the fourth and fifth times. He says he can count on one hand how many salons actually closed. He’s had a 2%-3% default rate over the last 50 years. Howard Hafetz, president of distributor Raylon Corp., believes that bankers should stop reading reports and start to understand our business. We are in a look good, feel good society. More working women are driving the economy and men are coming to salons in increasing numbers.
To get an objective point of view, I requested a Dun & Bradstreet report on business failures in our industry. This data is not an estimate; it represents complete tallies of beauty business failures. The report indicated that over the last five years, we have had a failure rate of less than 5%. Dun & Bradstreet’s overall feeling is that we are a unique industry that serves a purpose for families, allowing a continual repeat business. In addition, they feel the overall success is due to the low debt associated with running a salon. They project an upward trend with no end in sight.
It all boils down to one thing. the growth potential for our industry is unlimited. No matter how the public views our industry, we should head into the millennium with our heads held high.
Jeffrey Grissler is vice president of Quest Resources (Edison, NJ), beauty salon finance specialists.
Square data shows that regular customers tip 11% higher and are shared across 32% of businesses in the same ZIP code, driving thousands of dollars in additional revenue per connection.
When Bowie Lau and Jeffrey Ching opened JBW Jeffrey Ching Salon in 2011, they weren’t just launching another luxury hair destination—they were building a business rooted in passion, artistry, and thoughtful growth.
Sponsored by Amex
Inside the Systems That Power an Elevated Salon Experience From seamless online booking to a team-first culture, J Gold Salon in Atlanta offers more than great hair—it delivers consistent, high-touch service with the help of partners like Boulevard and American Express.
Sponsored by Amex
Want to grow your career as a beauty professional? K18 Sales Manager Sabrina Sanborn shares advice on networking, mentorship, and self-advocacy—from attending hair shows to finding the right guidance to reach your goals.
A combination of clear policies, effective communication, and strong client relationships has helped me create a more reliable and efficient booking system.
Founded by Cleveland serial entrepreneur Shaura Rodgers, Nailtorious has grown to include a nail supply megastore, training facilities, and retail line for nail techs.
This period after the holidays can bring on a huge lull for hairstylists. We asked Cosmo Prof's team of professionals to offer their best advice on how to deal with the January-February slow period.
Key highlights include a push toward inclusive spaces for all abilities, an emphasis on maximizing livable square footage, and a continued love for modern farmhouse exteriors.
The busy holiday season is here, and with it comes jam-packed days, last-minute client requests and booming retail sales. For many salon owners, the highlight of the season is Small Business Saturday® (SBS). This year on Saturday, November 30, consumers can take their shopping into the small businesses in their communities.
Sponsored by Amex
Want to become savvy about your personal finances, but don't quite know where to start? Anna Manukyan identifies six important concepts for building a strong financial foundation.
Salon owner Nuri Yurt had a dream of owning a salon on New York City’s Madison Avenue. "Through perseverance, hard work and stellar customer service, he and partner John Kaygisiz founded Toka Salon in 2007.
Sponsored by Amex
This guide is your one-stop shop for a plethora of technology tools, software and services created to keep your salon or spa thriving.
Anna Manukyan shares a breakdown of what different types of financial accounts should be used for.
Vagaro has consistently been at the forefront of salon software technology, helping businesses be more efficient, create more effective communication, and even improve company culture. Now, Connect by Vagaro, the platform’s two-way communication capability, and Vagaro’s new generative AI tools are giving owners new opportunities to grow and expand.
Sponsored by Vagaro
Young Nails' Greg, Habib, and Tracey discuss whether getting too close to clients can damage your business.
This list of watch-outs from @jodydoesjels prompted us to reach out to her and learn more. We had already fallen for her hand-painted designs and now we wanted to know more about this list she created to help clients decide if she was the nail tech for them.
Education is necessary for beauty professionals to maintain their cosmetology licenses, and paying for that education can be burdensome, but it doesn't have to be. Understand which education tax credits can help you offset those costs.
