Based upon the growing interest of people (women and men) in hair extensions or wigs, one can see the interest in hair is nearly 3 times higher today than in 2005 while the interest for wigs has slightly decreased. This growth in interest for extensions is one of the positive factors for the business; it is still a growth market. The most important countries where people are interested in Hair Extensions are: the United Kingdom, Australia and The United States, but also in South Africa there is a significant interest.
Where for Hair Extensions the interest increased in the UK this year, in the USA and South Africa the interest declined. With respect to wigs, the absolute no1 country since 2005 are the United States, But South Africa shows an increasing interest for wigs the last three years!
Of course you need to perform a more detailed market research for your own specific situation, but this data shows there are still interesting growth areas. And the interest for products is not the same in all the countries. If you use this knowledge, you can still enter the market and earn a fair share of income.
Your clients are less and less looking for hair extensions in general, the offer of hair extensions is huge and you need to differentiate yourself. Good chance you will not be able to serve all 2.4 billion women, but if you focus on a certain niche, a special place of the market, you will have a great position. This niche can be in products, for example only clip ins or only genuine Brazilian Human Hair extensions. But you can also differentiate yourself in the service you offer, like next day delivery or service at home. Perform your research, take note of the offer from your competitors and talk with your clients. Know what they want and what they miss in the product or service offer from your competitors. And focus on this part. You will build up trust and a happy customer base!
This refers directly to the previous item, if you keep on investing in the products and services you offer; you will be able to outperform the competition. Do not follow a copy paste tactic, but be original. Adapt existing concepts in the way your clients are looking for. For example, instead of before and after pictures, make a short movie (60 seconds) and let the client comment on it. Know everything and everybody who is of importance in your niche and make sure they know you also!
The growth of the population will not stop, but in some areas the elderly people will outpace the young ones. So check how the evolution of the demographics in your geographical market. Benefit from this knowledge, by or shifting away to a younger market, or adapt yourself and offer solutions for the elderly.
Too bad, still too many women and men who started a business full of passion and enthusiasm, have to stop their business activities before the end of the first year. In most cases if you made it through the first year, your chance to succeed in year two is much bigger. So it is very important to start in an organized and well planned way. We have developed a business plan for startups, just to make sure you will make it for the first year. To get more detailed information about this click on this link .