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|Current State of the Industry|
|Market Size (industry trends)|
|Market Forecast (5-year projection)|
|Revenue per State|
|Salary & Compensation Statistics|
|Public Company Information|
|Key Private Companies|
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2023 U.S. Industry Statistics & Market Forecast - Barber Shops
Market Size & Industry Statistics
The total U.S. industry market size for Barber Shops:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
|Statistics||2017 2018 2019 2020 2021 2022|
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|Average Revenue Per Firm|
|Average Employees Per Firm|
|Average Revenue Per Employee|
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year / six-year demand forecast projects both short-term and long-term trends.
|Forecast / Industry Outlook||2023||2024||2025||2026||2027||2028|
|Market Forecast ($ millions)|
|Projected Industry Growth Rate (%)|
Industry InsightsThe Barber Shops industry has undergone significant changes in recent years, driven by various trends. One of the most significant trends affecting the industry is the emergence of male grooming as a mainstream lifestyle. Men are increasingly embracing grooming products and services, leading to the growth of the industry and creating new opportunities for barbershops.
Another significant trend in the industry is the use of technology. The rise of social media and online booking systems has fundamentally changed how customers interact with barbershops. Customers can now book appointments in advance, look at reviews, and browse through the services on offer. In response, many barbershops are adopting digital tools to improve customer experience and streamline operations.
The third trend affecting the industry is the growing demand for sustainable and eco-friendly products. This reflects a broader trend of consumers being more conscious of their environmental impact. Barbershops that are offering eco-friendly products and services are gaining traction among customers seeking more sustainable options.
Finally, diversity and inclusivity are shaping the industry, with barbershops that cater to a diverse clientele seeing growth. From catering to diverse hair types to offering more inclusive services and products, barbershops are adapting to meet the needs of an increasingly diverse customer base.
Overall, these trends are driving innovation and growth in the barbershop industry. As customer preferences and values continue to evolve, barbershops will need to stay ahead of the curve to remain relevant and competitive.
Product & Services BreakdownResearch products and services in the Barber Shops industry generating sales. Note that products are broken into categories with different levels of classification.
|Product Description||Number of Companies||Sales ($ millions)||Percent of Total Sales|
Hair Care Services
Hair Cut And Styling Services
Resale Of Merchandise
U.S. Geographic Distribution: Revenue Statistics by StateMarket Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.
|Industry Average||Percent of Sales|
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|Cost of Goods Sold|
|Pension, profit sharing plans, stock, annuity|
|Rent paid on business property|
|Domestic production activities deduction|
|Compensation of officers|
|Salaries and wages|
|Employee benefit programs|
|Taxes and Licenses|
|Other Operating Expenses|
|Total Operating Expenses|
|EBIT (Earnings Before Interest and Taxes)|
|Earnings Before Taxes|
Financial Ratio AnalysisFinancial ratio information can be used to benchmark how a Barber Shops company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.
|Profitability & Valuation Ratios||Industry Average|
|Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Barber Shops industry is performing.|
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
|Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
|Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Barber Shops measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.
|Liquidity Ratios||Industry Average|
|Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.|
Measures a firm's ability to pay its debts over the next 12 months.
|Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.
|Efficiency Ratios - Key Performance Indicators||Industry Average|
|Measure how quickly products and services sell, and effectively collections policies are implemented.|
|Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
|Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.
Compensation & Salary Surveys for EmployeesCompensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.
|Title||Percent of Workforce||Bottom Quartile||Average (Median) Salary||Upper Quartile|
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|General and Operations Managers||3%|
|Healthcare Support Occupations||7%|
|Other Healthcare Support Occupations||6%|
|Personal Care and Service Occupations||72%|
|Personal Appearance Workers||66%|
|Barbers, Hairdressers, Hairstylists and Cosmetologists||39%|
|Hairdressers, Hairstylists, and Cosmetologists||38%|
|Miscellaneous Personal Appearance Workers||26%|
|Manicurists and Pedicurists||19%|
|Office and Administrative Support Occupations||13%|
|Information and Record Clerks||10%|
|Receptionists and Information Clerks||9%|
|Receptionists and Information Clerks||9%|
Barber Shops Competitor Landscape & Key Companies [PREMIUM]The most influential companies in the Barber Shops industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Barber Shops industry and adjacent sectors:
Companies with the largest market share, focused in this industry
|Market leaders: |
Largest companies that have diversified operations in this and other industries
Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators and Disruptors in adjacent industries that may also affect the Barber Shops industry.
Government ContractsIn 2022, the federal government spent a total of $12,705 on Barber Shops. It has awarded 1 contracts to 1 companies, with an average value of $12,705 per company.
|Most Recent Contracts||Date||Total Award Amount|
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