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The History of the Franchise Business - Learning about Business Opportunities by Looking at the Past
Hair care has been around as long as humans have been on the planet. The earliest record of personal hair care dates back 2.5 million years ago, when brushes used to create cave paintings in Spain and France were adapted for use in hair grooming. Interestingly, many of the innovations in hair design that are still used today originated in the late 19th century. According to 2002 statistics, there were 1.4 million personal care services in the United States, 313,000 of which were beauty and hair salons. The hair salon service industry alone had revenues of $55.9 billion, while salon product sales were $5.5 billion. Coloring alone brought in $10.4 billion for the beauty industry in 2002. The biggest single customer group is the baby boomer generation, who by the way now constitute the largest population segment in America, and who are more than willing to spend money on a hair care services. What this means is that the prospects for owners of hair care businesses are solid and strong. The 2003 Job Demand Survey, distributed by the National Accrediting Commission of Cosmetology Arts and Sciences, indicated that average total income (including tips) for salon owners was $53,150 per year. There are three ways you can enter the hair industry. You can open a franchise hair salon, in which you pay money upfront to use someone else's established name and resources such as advertising campaigns. You can buy an established salon from someone who is retiring from the business or has damaged the business and is forced into bankruptcy. Thirdly, you could establish your own salon. So what does it take to be a successful salon entrepreneur? First, it helps to be a risk taker, you have to be willing to try anything to succeed, you have to have determination and an entrepreneurial mind-set to be successful and you need to have a vision and goals for your business long term. Learn more about owning your own hair salon business: http://www.hjventures.com/hair-salon-business-plans.html Howard Schwartz is a partner in several business strategy groups, including HJ Ventures International, Inc. Howard has worked with hundreds of entrepreneurs worldwide with a focus on writing business plans for companies interested in raising capital from Venture Funds and Angel Investors. Howard's business plans have secured several million dollars in funding. http://www.hjventures.com
MORE RESOURCES: Hard Times for Wall Street's "Sell Night" Recruits 3 Sep 2010 at 7:08am In late July, Goldman Sachs hosted an exclusive dinner for recent college graduates at a Ruth's Chris restaurant in midtown Manhattan. While the chain steakhouse might have seemed declasse for veteran Wall Street traders accustomed to 21 or Delmonico's, it was a big draw for bright-eyed recruits who may never know such grandeur. Some even checked the menu online in anticipation. Boost your company's profits, boost your career 2 Sep 2010 at 11:25am The person at your office who routinely brings in millions of bucks worth of business probably doesn't have to worry about job security. Or begging the boss for a raise. Or advocating for a promotion. Changing fortunes 2 Sep 2010 at 7:04pm Levan Varshalomidze, governor of Adjara, on how Gulf petrodollars are poised to transform his tiny Black Sea state into a thriving commercial hub. Why Moldova matters 2 Sep 2010 at 6:16am By Matthew Rojansky Although the air outside is hot and dry?part of a heat wave scorching Russia and neighboring Ukraine?it is cool, dark, and slightly damp in the sandstone caverns beneath Milestii Mici, Moldova?s largest winery. Along seemingly endless underground boulevards, Soviet-era lighting and updated signs point the way to underground galleries housing millions of liters of meticulously ... Mike Lux: Is This the Weirdest Political Cycle Ever? 1 Sep 2010 at 8:17am There is a lot of quirkiness in this election cycle, and I'm not even talking about Sarah Palin or Glenn Beck. There is an odd sense I have that both parties are trying hard to lose. In speech, Obama says it's time to turn page on U.S. combat mission in Iraq 31 Aug 2010 at 6:45pm President says fixing economy now his central mission; promises similar transition in Afghanistan. Read more... Young entrepreneur gets some recognition and some help for college 31 Aug 2010 at 12:20am Zachary Gosling, 18, will begin majoring in business at Drexel University next month but is already quite the businessman. In first grade, he sold rocks from his driveway to unwitting classmates, claiming that he had spiffed them up in a "rock cleaner." Sir Paul Smith: 'I lament the decline in craftsmanship' 29 Aug 2010 at 7:13pm Sir Paul Smith can't remember if it was even sunny the day he wore the sunglasses that nearly killed him. He didn't care. Aged 17, he just wanted to look good ? and his Buddy Holly wayfarers were about as cool as things got in 1960s suburban Nottinghamshire. But they weren't suitable for cycling, which is what Smith was doing at great speed when, his vision of the car ahead obscured by his ... 'Takers' steals from the best 27 Aug 2010 at 11:53am In June, for the first time, the Commodity Futures Trading Commission approved a request to trade futures and option contracts against opening weekend box-office returns, and though it's sheer coincidence, "Takers" proves a weirdly appropriate title for this dubious milestone. Md. delegate candidates weigh in on issues 28 Aug 2010 at 4:58pm The Herald-Mail asked candidates in some contested races in the Sept. 14 primary election to respond to eight questions. The responses of candidates for each of those races will be published over two days. |
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