It has been a strong year for beauty and nail salons as they were named among the fastest growing retail categories over the last 12 months.
Findings from the Local Data Company’s (LDC) Retail and Leisure Trends Report 2017/2018 revealed there were 388 and 176 net openings of beauty and nail salons respectively, ranking them in the top category that opened the most stores.
Mark Kozo, Head of Marketing at Portman Asset Finance, said: “It’s encouraging to hear about growth in this area of retail. We help a lot of beauty businesses access flexible finance that helps them secure the funding they need to launch or grow their enterprises in this niche sector.
“However, more stores opening also means that beauty companies face increasing competition in an expanding marketplace. To differentiate themselves, salons need to offer customers an unrivalled experience, which often requires investment in the latest innovations or resources.”
Securing affordable finance allows beauty salons to tap into emerging industry trends and provide cutting-edge treatments, such as eyebrow microblading, LED therapy for skin rejuvenation, laser tattoo removal or virtual reality headsets that enable clients to digitally design and trial nail art looks.
If you want your salon to be a leader in the field, talk to our experienced Account Managers on 01604 321 995 about arranging a finance package that can enhance your business. More details about our finance products for beauty companies can be found here.