If You Are A Barber,You Are About To Become A Billionaire!!!

Do you own barber shops or saloons? If so, you are sitting on a billions dollar global business. How much money you are making from the business depends on professionalism, location and innovation/ technology that you bring into the operation. According to a report by Alliance Market Research (AMR) titled ‘Men’s Personal Care Market: Global Opportunity Analysis and Industry Forecast: 2014-2022, market is expected to stand at $166 billion by 2022, growing at a cumulative average growth rate of 5.4 per cent from 2016 to 2022. In African, the market is expected to hit $13.2 billion in 2017 and stand at one-quarter of the global market figure by 2022. Of course, a large chunk of the African figure is predictably expected from Nigeria. Also, according to renowned market researcher, Cosmetics Design, although, many segments of the cosmetics industry are slowing down, the area of men’s grooming has continued to report strong sales growth. “Increasingly, the male grooming business in Africa is booming. Just the clipper segment of the market alone is currently valued at about 200 million with Nigeria accounting for a major share of it, selling 3.5 million units,” said the report. Also, Phillips, one of the manufacturers of clipper products, said that it recently conducted a study of 20 barber interviews, 20 consumer focus groups with 8 participants per group and 40 in-home interviews in SA, Nigeria and Ghana.
excerpt from www.vanguardngr.com
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