The United States is home to a constantly thriving hair care services industry. In 2014, there were 86,000 establishments consisting of 4,000 barber shops and 82,000 beauty salons. Herewith you will discover the impressive revenues led by the demand along with the notable salaries the employees receive.
The Hair-Flicking Earnings
Beauty salons make up 95 percent of the US Beauty industry revenue driven by the $44 haircut and the $9 tip spent by women for every visit. For most salons, their earnings from hair care products add a significant amount to their revenue stream accumulating around five to 15 percent. Overall, they earn more from selling hair care products compared to the services done.
By 2019, market research predicts their revenue to reach USD 58.7 billion at an average annual rate of 3.2 percent. More customers will be vying for higher-value services, including massages, hair modification treatments, facials, manicures and pedicures.
The Hair-Raising Salaries
The U.S. Bureau of Labor Statistics revealed their May 2014 figures. It indicated the average annual salary of cosmetologists, hairstylists and hairdressers which was around USD 27,940. The lowest that they can earn is USD 17,160, but 90 percent of them received USD 45,480. This is why around 34 percent of cosmetologists and hair stylists are self-employed.
However, these salaries vary by state and the top five highest earnings per employee were Hawaii (USD 39,130), District of Columbia (USD 37,130), Delaware (USD 35,810), Virginia (USD 34,770) and Washington (USD 34,720).
If past statistics and future predictions are any indication of the continuous growth in the industry, then expect more personalized services in the future.