Some VERY REAL Truths About the BEAUTY Industry for 2024 and Beyond.

I hate writing about things that can be discouraging, BUT it's sometimes the only way for us to prepare as business owners for what's to come.

- There is a shortage of beauty professionals. What will your business look like if you just can't find anyone to work for you?  What effect will the shortage have on your budget as the demand for licensed professionals goes up?

-Just about everything (every supply you need to create) is coming from China... even if it's stirred together in the United States, pigments, plastics, and SO MANY raw materials are from Asia.  What will your business look like if that gets cut off?  Take a moment to flash back to covid... where and how did people's priorities shift during that time?

-The Online Education market is estimated to reach a revenue of $185.20 BILLION in 2024. It is expected to experience an annual growth rate (CAGR 2024-2028) of 8.61%, resulting in a projected market volume of $257.70 BILLION by 2028.

-Traditional marketing is being completely replaced by digital marketing.  How educated are you in the area of digital marketing?  Would you feel comfortable paying a professional to do digital marketing work for you if you don't understand it at all?  How would you know if you're being ripped off? 

Take these facts into consideration moving forward as you make your business plan.  It's always a good idea to be thinking ahead!!

XOXO Lauren