$8 Billion U.S. Nail Salons Industry Hurt By Pandemic
Resilient Salons Poised To Resume Strong Growth
American women think of nail care as an affordable luxury."
September 16, 2021… Marketdata LLC, a leading independent market research publisher of “off-the-shelf” studies about service industries since 1979, has released a new 65-page report entitled: U.S. Nail Salons: An Industry Analysis. This new Marketdata study examines the American nail salons industry, analyzing the size, structure, growth, key issues and operating metrics, as well as franchising.
According to Research Director, John LaRosa: "The Covid-19 pandemic shuttered many of the nation’s nail salons last year and revenues plunged. The strong growth from 2014-2019 was halted. However, as customers began to get vaccinated, salons have reopened and demand is still strong from American women, who think of nail care as an affordable luxury.”
Major Findings:
* Market Size and Growth… Marketdata estimates that the U.S. nail salons industry was worth $6.5 billion in 2020, down 19% from the prior year. Actually, when considering the earnings of nail technicians that don’t operate in a brick & mortar retail salon (non-employers), the industry’s true value is $14 billion. The total market is forecast to rebound and grow 18% this year, with 9% average yearly growth through 2025.
* The “average” nail salon nationwide was estimated to gross $287,000 in revenues in 2019, with a 17% profit margin. However, salons in some states, and those that are part of a franchise, can average up to $575,000. A substantial share of revenues come from cash payments and is not reported.
* There were an estimated 28,000 nail salons with payroll (employers) in 2019, up 50% from 18,600 just five years earlier. Most are “mom & pop” establishments.
* Only 3.5% of all nail salons are part of a franchise. The top 10 franchises (including Regal Nails, Davi Nails, etc.) operate about 990 units.
* There are approximately 393,000 sole proprietor nail technicians in the nation, a number that has grown steady since 2007. Many of them will fuel future growth, as they aspire to open their own salon. They generated significant sales of $9.3 billion in 2019.
* California and New York have the greatest number of nail salons – 9,500 combined in 2019.
*The average annual salary for a manicurist in the United States is only $24,980. That equates to an hourly wage of just $12.01. Salon owners can earn $49,000 to $100,000 in net profits.
* This industry was built by Vietnamese refugees in California during the 1970s, as well as Koreans more recently. These owners and nail workers have dealt with discrimination, hazardous working conditions and wage theft for decades.
" Asian immigrants changed nail salons from luxury spas to discount walk-in businesses, making nail treatments accessible to millions of American women via nearly every retail strip mall.”, according to Research Director, John LaRosa.
About The Study:
U.S. Nail Salons: An Industry Analysis , published in September 2021, is an independently researched market report. It contains 38 tables and is 65 pages long. It costs $995. A free brochure is available by mail, Fax, or email: Contact: John LaRosa, Marketdata LLC, 7210 Wareham Drive, Tampa, FL 33647, 813-971-8080, or: see the website: www.marketdataenterprises.com.
About Marketdata
Marketdata LLC has published in-depth market research reports covering a wide variety of B2B, service sector, and healthcare topics since 1979. The firm provides custom research, consulting and teleconference services, and John LaRosa can be booked for speaking engagements.
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- Contact Information
- John S. LaRosa
- Research Director
- Marketdata LLC
- (1) 8139718080
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