BOOM: Hair Care for Men…Beyond Shaves and Haircuts
Hair care post-pandemic is a rapidly-growing multi-location (MULO) category. As we reported recently, the industry was up 17 percent in 2022 and is expected to hit $41B by 2026. Women still spend more on hair care than men. They invest an average of $228 yearly on haircuts and $24 per month on hair products versus $168 and $15 for men.
However, the worldwide market for men’s grooming products is booming and was valued at over $200 billion in 2022.
Expected to expand at an annual growth rate of 8% from 2023-2030, men’s hair care has created opportunities for a wide range of basic and luxury salons and products.
Some guys may be OK with the many unisex and family offerings. Still, a growing segment craves a traditional men’s barbershop environment, where they can get a great haircut, beard trims, and perhaps an old-fashioned straight razor shave.
In the words of Shayne Brown, Founder and CEO of Diesel Barbershops, a franchise with about 30 locations, it is about re-capturing the ‘vintage’ barbershop experience. “The look and feel…is part barbershop, part salon, part old school record store, part mechanics garage, part tattoo shop, and part vintage arcade. A man cave for great haircuts and an amazing overall haircut experience, if you will.”
Other fast-growing brands filling this growing segment include:
- V’s Barbershop was founded in 1999 by Jim ‘V’ Valenzuela. He wanted an old-fashioned barbershop to take his son for a haircut and to enjoy the barbershop tradition as he had with his father. The brand now has about 54 locations and an aggressive expansion plan.
- Roosters is part of the Regis Corporation’s large stable of hair salons. With more than 90 franchised locations in the U.S. and Canada, Roosters, like many other similar salons, offers package upgrades and special deals for veterans.
- The Board Room recently rebranded and, with an infusion of funding, expects to grow from its current 45 locations to well over 100.
- Man Cave for Men is an up-and-coming franchise based primarily in Florida. It lives up to its name by serving customers beers along with their treatments.
- Scissors and Scotch, with 25 locations, also offers libations — cocktails, coffee, or a “cold one” as part of the experience.
- Floyd’s 99 Barbershop is one of the larger multi-location brands, with 100+ locations. Named after the iconic barber shop in Mayberry (a popular classic TV town).
Like all personal care businesses, most of these local salons provide online booking gift cards, proprietary apps, and loyalty programs. Some offer their own branded products both in-store and online.
Some brands integrate manscaping, massages, and other hair-related and spa-like relaxation services into their brand experiences.
The hair grooming business is unique in that consumers often build relationships with their individual service providers and may, as a result, be brand-agnostic. However, one bad haircut or a razor cut can sour a gentleman on an entire franchise or brand.
From boys to men (and non-binary people), most consumers need a haircut, shave, beard trim, or other type of follicle-related treatment. As long as hair continues to grow, so will this MULO retail category.