Franchise Spotlight: Hair
Your hair franchise can flourish through exceptional training, marketing clout and competitive pricing. Here’s your overview of this exciting sector.
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.