The Appeal of Beauty
The cosmetic industry has long been associated with stability and growth, and for good reason. Time and again, the beauty industry has proven itself recession proof. When the rest of the economy floundered in 2009, the cosmetics industry grew 5.4%. The American market generated $56.2 billion in revenues last year, and is expected to grow in every sector. The number of hairdressers, skin care specialists, and massage therapists are all expected to grow by double digit figures by 2024. And the more specialists and vendors there are, the larger the overall industry becomes. With such specialists earning up to 15% of their revenue from beauty products, the market and demand for products will only continue to grow. Together with a 15% growth in online sales from 2014 to 2015, entrepreneurs looking to enter the business have every reason to be optimistic and bullish.