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For Hair-Care Franchises, Tough Economy Spells Opportunity
You might think the recession would put a crimp in the growth plans of hair-care franchises. You’d be wrong. Although hair-care operators do face some challenges right now, for smart hair-care companies, the economic downturn means more opportunities than hardships. Here’s a closer look at why the future of hair-care franchising is still lookin’ good.
Sport Clips CEO Gordon B. Logan notes that since franchises dominate the “value priced” segment of the hair-care market, this is a great time for them to grab new market share as budget-conscious customers trade down to lower-priced services.
At Great Clips, vice president of franchise development Rob Goggins agrees. “We see this as an opportune time to gain market share from our competitors,” says Goggins. To do that, he says, Great Clips is “[focusing] our brand message to customers currently paying $15 for haircuts.”
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