Industry Insider
The Professional Beauty Association (PBA, probeauty.org) polled 600 spa and salon owners for its newly published study, PBA Salon/Spa Industry Tracking Survey. The new report, which will come out quarterly in the future, reflects business trends in the first quarter of 2009. Here's a sampling of what it found:
- Backbar sales increased an average of .5% in the first quarter.
- Service prices increased 2%.
- 35% of salon/spa owners invested in equipment, expansion or remodeling, and 41% plan to make these improvements in the next six months.
- A quarter of respondents reported "building and maintaining sales volume" as their No.1 challenge.
- Expansion plans are in store for 16% of salon/spa owners, who plan to open at least one new business in the next six months.
- Staffing levels have remained steady, but most businesses reported cutting back overall employee hours.
- 44% of respondents noted a decline in total service sales, while 49% reported a decline in retail sales.
- More than half are optimistic about service sales growth; 54% projected an increase in revenue.
- The future looks bright for 62% of business owners, who said they expect conditions to improve in the next six months.
PBA members will receive a free copy of the survey, while nonmembers can purchase an annual subscription for $195. For more information, visit www.probeauty.org.
