Thursday, August 6, 2009

PBA SALON/SPA INDUSTRY TRACKING SURVEY

The following study was published in the August 2009 issue of DAYSPA Magazine.

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.