Dublin, Sept. 27, 2021 (GLOBE NEWSWIRE) -- The "U.S. Nail Salons: An Industry Analysis" report from Marketdata LLC has been added to ResearchAndMarkets.com's offering.
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.
The U.S. nail salons industry, populated by nearly 28,000 small businesses, had been growing strongly through 2019, reaching a value of $8 billion (actually $17.3 billion when counting sole proprietor nail technicians not working in a retail facility). This growth came to a halt with the pandemic of 2020, which closed many salons for months. However, the industry is recovering as more Americans are vaccinated and shops re-open.
This new report is a comprehensive business analysis covering the nature and operations of the nail salons business, services provided, key operating ratios/metrics, dollar size and growth of the industry from 2007 to 2025 Forecast, economic structure of the business (ratios: national, by state, by major city), analysis of franchising (profiles of top 10 franchisors), and more.
The effects of the pandemic are discussed, as well as the outlook for recovery in 2021, and a long-term forecast to 2025. The report also analyses the average yearly revenues per nail salon (for franchises and non-franchises), profitability (industry income statement), and how Asian immigrants built the industry in the 1970s, and the discrimination they faced. Report includes a directory of industry reports, trade associations and magazines.
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, to a value of $22.6 billion.
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 27,963 U.S. 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 262,000 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. The generated 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 make $49,000 - $100,000.
The industry was built by Vietnamese refugees to the U.S. in 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.
Hammer & Nails Grooming
Namaste Nail Sanctuary
PROSE Nail Salons
For more information about this report visit https://www.researchandmarkets.com/r/t2zarx
Source: Marketdata LLC
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900