As part of an aggressive growth strategy, the children’s hair salon Snip-its is seeking franchisees to open new stores throughout the U.S. Snip-its, already the nation’s fastest growing children’s salon franchise with currently 65 stores in 26 states, will partner with new entrepreneurs and business owners to capture even more of the expanding children’s hair care market.
Hair care generates an estimated $45 billion annually and is considered a non-cyclical industry – the demand for haircuts, as with goods like utilities and household products is constant and not greatly affected by dips in the economy; a salon business is considered ‘recession-proof’. There are 40 million children in the US, who on average will have their hair cut eight times every year. Within the hair care industry, children’s hair care is the fastest-growing sector, accounting for $5 billion annually.
Franchise businesses are especially appealing in times of high unemployment and slow economic growth. They represent an opportunity for great profits, but with lower risk, owing to the power of an established, loyalty-driven brand, proven industry expertise, and the broad reach of national advertising.