Business ideas
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10+ Best & Profitable Hair Business Ideas in 2023

Are you passionate about hair and looking for an exciting business venture? Look no further! With the beauty industry rapidly growing, there has never been a better time to tap into the hair business world. From innovative hair care products to stylish hair extensions, the opportunities are endless. In this article, we have compiled 10+ creative and demanding hair business ideas to help you start your entrepreneurial journey. So, get ready to unlock your inner business savvy and explore these unique hair business ideas that are sure to turn heads!

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Updated on:
March 5, 2023
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Table of Contents:

Our List of 10+ Best Hair Business Ideas:

1. Hair salon.

A hair salon is a business where one or more experienced hair stylists provide hair cutting, coloring, styling, and other related beauty services to clients. It is typically an enjoyable and relaxing environment where customers can sit back and have a professional take care of their hair needs. Here is why a hair salon is a good business idea:

  • Hair care is a necessity for most people, especially women. It is a recurring expense that people are willing to pay for, which means a steady stream of income for your business.
  • The beauty industry is continually growing and evolving, which means that there is always an opportunity to expand services and attract new customers. By keeping up with the latest trends and innovations, you can stay ahead of the competition and grow your business.
  • You can build a loyal customer base by offering personalized and excellent customer service. By creating a warm and welcoming atmosphere, you can make your clients feel valued and keep them coming back for more.
  • A hair salon can have a relatively low start-up cost compared to other businesses. Depending on your budget and scale, you can choose to start small and gradually expand your services later on.
  • You can choose to specialize in a particular niche, such as curly or textured hair, and cater to an underserved market. By offering expertise in a particular area, you can attract a loyal customer base and stand out in a crowded market.
  • You can increase revenue by selling hair care products and accessories to clients. By recommending products that meet their specific haircare needs, you can increase customer loyalty and revenue.

2. Hair Extensions Business.

Have you ever wondered how some women always have long and voluminous hair? Chances are they’re using hair extensions! A Hair Extensions Business is a venture that offers a range of hair extension services and products to clients. Whether it's synthetic, clip-in, or tape-in, hair extensions are an easy and versatile way to instantly switch up your look without the commitment of cutting or dyeing your natural hair.

  • Here are a few reasons why a Hair Extensions Business might make a good business idea:
  • High demand: With the rise of social media influencers and celebrities sporting different haircuts and hairstyles, many consumers are looking to try out new looks with hair extensions. This has led to a surge in demand for hair extensions services and products.
  • Low investment costs: Starting a Hair Extensions Business can be done with minimal investment costs. You will need to purchase hair extensions, styling tools, and a few other essentials such as scissors and combs, but you can start with small inventory first and grow as your business expands.
  • Flexible work hours: If you’re a freelance hairstylist, opening a hair extensions business can allow you the freedom to choose your own work hours and work environment. You can even work from home!
  • Easy to market: Social media platforms such as Instagram and Facebook are the perfect places to showcase your work and attract new clients. You can offer promotional discounts or referral programs and let your satisfied clients do the marketing for you.

In conclusion, a Hair Extensions Business can be a lucrative business idea with high demand, low investment costs, flexible work hours, and easy marketing opportunities. If you have an eye for trends and are passionate about hair styling, it’s definitely worth considering as a business venture.

3. Hair Braiding Business.

Are you looking for a business idea that requires a low startup cost and has the potential to be very profitable? Have you considered a hair braiding business? This simple yet lucrative business can be started with just a few tools, and it has a high demand in many communities. Here's why:

  • Low startup cost: All you need to get started is a few essential tools such as combs, hair clips, and hair extensions. These tools can be purchased at a relatively low cost, making it easy for anyone to start a hair braiding business.
  • Recurring revenue: Hair braiding is not a one-time service. Once you braid a customer's hair, they will likely need to come back for maintenance every few weeks. This creates a steady stream of recurring revenue for your business.
  • High demand: Hair braiding is a popular service in many communities, particularly in African American and African immigrant communities. With such a high demand, there will always be customers seeking your services.
  • Flexible schedule: As a hair braider, you can set your own schedule and work from home or on the go. You can work part-time or full-time depending on your needs and schedule.
  • Opportunity for growth: As your business grows, you can expand your services to include other hair styling services and even open up a brick-and-mortar location.

Overall, a hair braiding business is a great business idea for anyone looking for a low-cost, high-demand, and potentially profitable venture. With the right tools, skills, and marketing strategies, you can establish a successful hair braiding business in your community.

4. Hair Coloring Business.

Do you have a passion for hair styling and a keen eye for color? Then starting a hair coloring business may be the perfect business idea for you! Not only is hair coloring in high demand, but it also has the potential for significant profits. In this article, we'll take a deeper look into what a hair coloring business entails and why it can make a great business venture.

  • What is a hair coloring business?

A hair coloring business involves offering professional hair coloring services to clients. This can include techniques such as highlights, balayage, ombre, color corrections, and more. As a hair coloring business owner, you'll work hands-on with clients to select the perfect hair color and technique for their desired look.

  • Why is a hair coloring business a good business idea?
  • High demand: Hair coloring is a service that is always in high demand, making it a lucrative business idea.
  • Repeat clients: Hair coloring is not a one-time service. Clients typically come back every 4-8 weeks for touch-ups or a new color, providing you with consistent revenue.
  • Upsell opportunities: Along with hair coloring services, you can also offer additional services such as haircuts, conditioning treatments, and more, providing upsell opportunities for your business.
  • Flexible schedule: As a hair coloring business owner, you have the flexibility to work on your own schedule and set your own hours.
  • Creativity: Hair coloring is an art form, allowing you to express your creativity and passion for the craft.
  • How to start a hair coloring business

If you're interested in starting a hair coloring business, here are some steps to help you get started:

  • 1. Develop a business plan: This should include your target market, pricing, marketing strategies, budget, and overall business goals.
  • 2. Obtain necessary licensing: Check with your state or country's licensing requirements for cosmetologists or hair stylists.
  • 3. Secure funding: Determine how much capital you will need to start and operate your business, and explore funding options such as loans or investors.
  • 4. Purchase equipment and supplies: This includes items such as hair coloring products, brushes, combs, salon chairs, and more.
  • 5. Build a team: Consider hiring additional stylists or assistants to help with the workload and provide better service to clients.
  • 6. Market your business: Utilize social media, word-of-mouth referrals, and paid advertising to promote your business and attract new clients.

5. Wig and Hairpiece Business.

If you're looking for a profitable and fulfilling business idea, starting a wig and hairpiece business could be the perfect fit for you. As people's needs for hair replacements and enhancements continue to grow, opening up a wig and hairpiece business can be a smart and viable business plan.

Why a Wig and Hairpiece Business is a Good Idea

  • Wigs and hairpieces are becoming more popular as people become more concerned with their looks and self-image
  • There is a growing need for hair replacements due to hair loss caused by age, illness or medical treatments
  • Wigs and hairpieces come in various styles, lengths, materials, and colors which can cater to different preferences and fashion trends
  • A wig and hairpiece business can attract a wide variety of customers, including individuals, salons, and theater companies
  • There’s a lot of room for creativity and personalization within the wig and hairpiece industry
  • You can start small and expand your business later based on your customer needs and demand
  • It can be a stable and profitable business if managed well, with a low start-up cost compared to other industries

As with any business, starting a wig and hairpiece business requires careful planning, research and creativity to create a successful business. However, with its growing demand and limitless opportunities for creativity and personalization, opening up a wig and hairpiece business could be a profitable and fulfilling business venture for anyone who is passionate about hair and fashion.

6. Hair Replacement Business.

Are you looking for a business idea that will cater to a massive market with high demand? Look no further than a hair replacement business. Hair loss can be a significant issue for many individuals and is often a sensitive topic. Hair replacement businesses aim to solve this problem by offering a wide range of solutions to restore hair growth and boost confidence.

  • Hair replacement businesses specialize in providing solutions like hair transplant surgery, hairpieces or wigs, and non-surgical hair replacement systems like hair integrations or treatments.
  • Restoration procedures like hair transplant surgeries have become more advanced and efficient in recent years, making them a popular solution for many people. With a growing trend towards grooming and appearance, this sector is only expanding.
  • People experiencing hair loss want to feel confident and comfortable again, and hair replacement services can provide just that.
  • With an aging population, many baby boomers are looking for hair replacement solutions to help them look and feel younger, giving hair replacement businesses a target demographic.
  • Moreover, with high-profit margins and a wide range of services to offer, hair replacement businesses can be lucrative and sustainable.

If you're looking for a business idea that caters to a large, underserved market, consider starting a hair replacement business. With an immense demand for hair loss solutions, a hair replacement business can serve as a profitable venture for entrepreneurs.

7. Hair Care Product Business.

A hair care product business involves selling hair care products with the objective of maintaining healthy, smooth, and manageable hair. The products could include shampoos, conditioners, hair sprays, gels, and other hair styling tools.

Why would it make a good business idea?

  • High Demand: Everyone wants to have beautiful, healthy hair. The demand for hair care products is always high, regardless of economic conditions.
  • Stable Revenue Stream: Regardless of the time of year or economic fluctuations, people will always need to maintain their hair. That means steady revenue for your business.
  • Recession-proof: As previously mentioned, people will continue to purchase hair care products, no matter what the economic situation is. In fact, some studies show that during a recession, consumers will pay more to maintain their hair because it boosts their confidence and self-esteem.
  • Low Overhead Costs: A hair care product business does not require a physical store or a large amount of inventory. You can start small and gradually scale up your business as it grows.
  • Increased Awareness: Consumers are becoming more aware of the ingredients in the products they use. A hair care product business that uses natural ingredients will appeal to this growing market.
  • High Profit Margins: Hair care products can have high-profit margins, especially if you establish your own brand and manufacture your own products.

8. Hair Restoration Business.

Are you interested in starting your own business but struggling to come up with a unique idea? Consider entering the hair restoration industry! This industry is growing rapidly and has endless potential for success.

  • What is a hair restoration business? A hair restoration business primarily focuses on helping individuals who are experiencing hair loss or thinning. Services may include hair transplants, scalp micropigmentation, topical treatments, and more.
  • Why is this a good business idea?
  • Booming industry: The global hair restoration market is predicted to reach $13.6 billion by 2026.
  • High demand: Approximately 50 million American men and 30 million American women suffer from hair loss. This is a problem that is not going away and will continue to need solutions.
  • Personalized services: Hair restoration services often require a personalized approach to meet individual patient needs, allowing for a unique and tailored business model.
  • Low overhead costs: Running a hair restoration business can be relatively inexpensive, as the main focus is on providing services and not necessarily selling products.

If you are passionate about helping people feel confident and beautiful, a hair restoration business may be the perfect opportunity for you to become an entrepreneur in a growing and rewarding industry.

9. Hair Loss Treatment Business.

Do you know that approximately 35 million men and 21 million women suffer hair loss? Hair loss is a common problem that affects a significant percentage of the population, and the demand for hair loss treatment is increasing. Thus, starting a Hair Loss Treatment business could be a lucrative idea.

If you're considering starting a hair loss treatment business, here are some reasons why it can be a good business idea:

  • High Demand: As mentioned earlier, hair loss is a common problem affecting millions of people. Therefore, there's a high demand for hair loss treatment solutions.
  • Recurring Income: Hair loss treatment is a recurring business as most people will require ongoing treatments to achieve the desired results.
  • Versatility: There are various hair loss treatment options, including hair transplants, hair restoration, and hair regrowth medications. You can choose to specialize in one type of treatment or offer a variety of them, providing versatility in business.
  • Flexible Business Model: Hair loss treatment businesses can be operated as brick-and-mortar establishments or online businesses, giving the business owner the flexibility to choose a business model that suits them.
  • Little Competition: While there are many hair loss treatment businesses, the competition is still relatively low. Thus, there's enough room for more businesses, especially if you offer unique treatment options.

In conclusion, starting a hair loss treatment business can be a profitable business idea. With a high demand for hair loss treatments, versatility in service offerings, and the flexibility to choose a business model, this is an opportunity worth considering.

10. Hair Styling Service Business.

A hair styling service business is exactly what it sounds like – a business that offers hair styling services to clients. Whether it's a simple haircut or a complete makeover, a hair stylist can make a huge difference in a person's appearance and confidence.

  • Starting a hair styling service business can be a lucrative and fulfilling career. Here are some reasons why:
  • Steady demand: Everyone needs a haircut! Hair grows continually, which means that there is a constant demand for skilled hair stylists to provide services to customers.
  • Low start-up costs: Unlike some other businesses, starting a hair styling service business doesn't require a lot of money. With a bit of training, you can start offering services from the comfort of your own home.
  • Flexible working hours: Being a hair stylist means that you can choose your own working hours. This is especially great if you have family commitments, as you can work around your schedule.
  • You are your own boss: One of the most attractive aspects of starting a hair styling service business is that you get to be your own boss. You can call the shots, set your own prices, and create a work environment that suits you.
  • The chance to be creative: As a hair stylist, you have the opportunity to be creative every day. You can experiment with different hairstyles, colours, and techniques, and help your clients to find their perfect look. No two days are the same!
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Successful Examples of Hair Businesses:

Below is a list of successful companies that provide hair care products and services in the hair business industry:

  • L'Oréal
  • Garnier
  • Matrix
  • Bed Head
  • Paul Mitchell
  • Living Proof
  • John Frieda
  • Redken
  • Schwarzkopf Professional.
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