Will The Eyelash Extension Market Continue To Grow?
If you are a lash artist or an entrepreneur pondering if you should be opening your own lash extension salon, you may be speculating if the lash extension industry will continue to take off, or if the trend will weaken and you will be left with a bad investment.
Fortunately, for lash artists and salon owners, according to a recent ABC News Report, the lash industry is expected to reach a whopping $ 1.5 billion industry in the next five years.
The lash extension procedure has become so common, the article notes that many women feel like it's the same as going to get your hair done — in other words, a typical appointment that women fit into their everyday lives.
Growth forecast of the eyelash extension industry
Are you curious if this booming trend will continue over the next several years? Research indicates that this is the case. Market Research Future published a <False Eyelashes Market Research Report> that offers encouraging statistics about the rate at which the industry is growing.
Looking at worldwide data, North America was projected to have the maximum market share of 36.78 percent, with the production of hand-made eyelashes expected to experience the fastest growth rate between now and 2023.
Is lash extension service a good investment for beauty salons?
This adoption of eye-makeup fashion trends by consumers is creating new and exciting opportunities for salons. Lash extension is fastly becoming a fashion need for clients looking for an eye makeover. Cosmetic-Business.com notes that the number of professional eyelash services grew by 14 percent in 2017. They predict that the eyelash care market will continue to experience this type of steady growth. The number of independent eyelash studios has also steadily grown over the past year.
What does this mean to a lash extension technician?
An infographic titled “A Beautiful Lash Life” notes, 75 percent of lash artists earn up to $ 50,000 a year, and 25 percent have worked in the industry for five or more years. A whopping 80 percent of lash experts surveyed responded that they are either satisfied or very satisfied with their careers, and 63 percent are earning the income that they expected.
Almost half of the respondents apply 11 or more sets of eyelashes each week and 42 percent charge between $ 61 and $ 120 for a full set of lashes. While they also express some challenges like how to attract new customers and managing their clients' aftercare, the overall work experience is highly positive and lucrative.
How to build a successful lash extension business?
In this trend of market growth, it's essential to differentiate the types of service you offer as a professional eyelash extension service provider. Here are three essential tips to stand out from the lash service industry:
Customization is the key
Thanks to the advanced technology, now lash extension suppliers can provide thousands of different types of lashes. Lash extension was initially started using synthetic mink lashes only, however, nowadays lashpreneurs can stock various types of lash extensions such as Laser Lash, Silk Lash, Natural Lash, Flat Lash and Pre-made Volume Lashes to offer a truly customized look to each customer . Stocking various types of lash extensions and different types of extension glue is a great way to invite a much wider range of clients to your lash extension business.
Offer great aftercare service
The research found that the number one term lash clients searched on Google after getting their lashes done is 'Eyelash extension aftercare.' Let your clients know you are there to support them by offering the right aftercare products after the service.
Retailing the right specialized aftercare products can help your client to extend the durability of your lash service and help ease their doubts towards lash extension. Stocking lash extension friendly products like oil-free lash foam, eyelash extension friendly make-up remover, and lash growth serum will not only increase your sales but grow loyal, returning clients.
Be a mentor for prospect lash artists (and earn money, too!)
If you are an experienced lash technician and looking for a way to expanding your lash business, teaching other prospect lash artists is a great road map towards a profitable rewarding career. Be as knowledgeable as possible about your upcoming line of work. It is vital to stay aware of the latest research and trends.
If you want to get started in the lash industry and ride the wave of success in your new career — BL Lashes offers a global lash educator program.
If you have had any doubts about investing in your eyelash extension business, we hope that this information has eased your worries and given you more confidence. This market has just started and has NOWHERE near reached its growth potential. Take the leap and get in while this market has so much room to grow, you won't regret it.
Interested in partnering with a trusted lash extension supplier with more than 20 years of manufacturing and distribution? Feel free to contact us to discuss how to build a profitable lash empire.
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