The salon and spa industry is growing! They estimate that there are more than 1.1 million salon or spa establishments in the U.S. that offer beauty and cosmetology services, and that the industry is worth more than $44 billion now. Independent salons or beauty professionals grew more than 92% in the last decade, and employment-based salons grow 16 percent.*
- In 2013, it was estimated more than 1.1 million salon and spa establishments in the United States.
- The Bureau of Labor Statistics estimates a 13% growth in cosmetology, barbering and esthetics jobs through the year 2022.
- Job demand for estheticians and skin care specialists is projected to grow 40% through the year 2020, much faster than average, according to the BLS.
- The BLS also estimated an 16% growth in job demand for nail technicians, manicurists and pedicurists through 2022.
- When the U.S. economy was in a recession between 2000 and 2010 with a 3% decline and seeing almost 3.4 million job losses, the cosmetology industry instead grew 7% and added more than 70,000 jobs.
- The cosmetology industry is known for being flexible. In fact, on average, almost 1 in 3 personal appearance workers – especially barbers – choose to be self-employed, according to the U.S. Department of Labor.
- The business can also be a shot at entrepreneurship. 61% of salon businesses are owned by women, compared to just 30% of private sector businesses nationwide, according to the U.S. Census Bureau.
Medical Spas and the Law with Michael Cohen, JD