Business Expected to Continue Booming in the Beauty Industry
When you think about beauty, what comes to mind? Do images of makeup and hairbows pop into your thoughts? While that may happen to some, thoughts of long-lasting, rewarding and lucrative career paths pop into the thoughts of individuals about to enter the workforce and those thinking about making a career change.
That’s because the global beauty industry is a nearly half-trillion dollar a year business. And it’s an industry that’s expected to see continued job and revenue growth in many areas.
What Does the Beauty Industry Include?
While you may already know that hair salons and makeup are part of the beauty industry, the industry includes many other types of businesses and products, some of which aren’t typically affiliated with beauty in the minds of many consumers. Did you know that deodorant, toothpaste and nose hair clippers are just some of the sometimes unexpected products that are considered part of the industry? Skin care products, perfumes, shower and shaving products, brushes and nail polish are also some of the things sold in the beauty industry.
In addition to hair salons, barber shops, massage parlors, spas and tanning salons compete in the beauty industry. And that’s just the tip of the iceberg!
With so many kinds of products and so many types of businesses in the beauty industry, the industry is rife with opportunities for people looking for steady work, a flexible work schedule and self-employment opportunities. In fact, the beauty industry is where some people make millions, including Kern Lima. Lima became the nation’s 41st richest self-made woman when she sold IT Cosmetics for $1.2 billion in August, 2016, less than ten years after she founded her beauty business.
Forecasted Growth in the Beauty Industry
Whether you already work in the beauty industry or you’re thinking about getting into this burgeoning business, you can benefit from the industry’s bright future. By 2024, the beauty industry is expected to grow by 11 percent.
In addition to industry growth, job growth within the beauty industry is expected to continue in upcoming years. Between 2016 and 2026, the number of barber, hairstylist and cosmetologist positions in America is forecasted to grow by 10 percent. During the same period, 15,200 new manicurist and pedicurist positions will be created, which represents a growth rate of 12 percent.
The news for aspiring skincare specialists is even better. The U.S. Bureau of Labor Statistics predicts the number of jobs in this niche will increase by 13 percent between 2016 and 2026. Skincare doesn’t just have a high job growth rate, it’s also one of the most profitable sectors in the beauty industry.
Believe it or not, the types of jobs discussed above are just a few of the positions in the beauty industry. Writers, makeup artists, estheticians and many, many other kinds of professionals work in the industry every day.
Enroll at the State College of Beauty Culture
Depending on the particular career path you want to pursue in the beauty industry, it’s likely that you’ll need to undergo training and earn a license from your state. You can get the training you need to take the state examination in Wisconsin at our beauty school.
We offer several key services to the public so our students get the hands on training they need to succeed in the beauty industry, including hair styling, skin services, chemical services, nail services, and hair removal. When you finish your training, you will have accumulated hours of practical experience which will set you up for success in your new career.
After you earn your license, you can enjoy a rewarding career in an industry that offers tremendous flexibility, fun, and unlimited earning potential. Kickstart your career in the growing beauty industry by enrolling in a program at the State College of Beauty Culture.