Salon Industry Analysis Paper

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INTRODUCTION The beauty industry is a highly competitive and very diverse industry. It has been expanding and changing for as long as history has been recorded. As a licensed cosmetologist hoping to own my own salon one day, my interest lies in the beauty salon segment of the industry, relating to such services as haircuts, hair coloring, hair styling, makeup and nail services, and skincare. The company I am choosing to analyze is Regis Corporation. This company began as a single hair salon almost a century ago and is now a “multibillion-dollar corporation committed to making people look and feel beautiful” (The Regis Story). As it grew as a company, Regis expanded from one location, to a chain of salons situated within department stores. Once…show more content…
Salons compete for clients and are constantly evolving in the services they offer in order to attract customers and retain the ones they have. It doesn’t take much to make a client unhappy, and because the threat of substitutes and power of buyers are both extremely high, clients can easily switch to a new salon or take over control of their own beauty needs. With multiple salons on the same road in many communities, it puts pressure on each salon to come up with competitive advantages. The salon industry is all about building relationships with the clientele base, and strengthening those relationships to ensure customers remain loyal. With comparable services just around the corner, it is vital that a salon maintain a high degree of customer service and add a personal touch for each client, because in the end the main quality that customers are looking for in salon services is to be made to feel special. SWOT A SWOT analysis is used to evaluate the various strengths, weaknesses, opportunities, and threats for a particular company. In this case, Regis Corporation has the following strengths, weaknesses, opportunities, and threats according to their website and my own analysis:

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