If you are a lash artist or an entrepreneur pondering if you should be expanding your line of eyelash extension supplies, you may be speculating if the lash extension industry will continue to take off, or if the trend will weaken and you will end up with a bad investment.
Fortunately, for lash artists and salon owners, according to ABC News Report, the lash industry is expected to reach a whopping $ 1.5 billion industry in the next five years.
As per the article the lash extension culture has become so prevalent that for many women, it's now as routine as a regular hair appointment, seamlessly fitting into their daily lives.
Eyelash Extension industry Growth forecast
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 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.
According to Verified Market Research, the Lash Extension Market size was valued at USD 1.36 Billion in 2020 and is projected to reach USD 2.31 Billion by 2028, growing at a CAGR of 6.95% from 2021 to 2028.
What does this mean to a lash extension technician?
statistics note that 75% of lash artists earn up to $ 50,000 a year, and 25% 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:
1. Customization is the key
Thanks to the advanced technology, now lash extension suppliers can provide thousands of different types of lashes. The lash extension was initially started using synthetic mink lashes only. However, nowadays, lashpreneurs can stock various types of lash extensions: Laser Lash, Silk Lash, Natural Lash, Flat Lash, and Pre-made Lash Fans 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 more extensive range of clients to your lash extension business.
See how to choose premade lash fans for your service
2. 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 lash extension cleanser, eyelash extension friendly make-up remover, and lash growth serum will not only increase your sales but grow loyal, returning clients.
Here are list of lash-friendly aftercare products every salon should stock.
3. 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.
Summary
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.
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Are you 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 business.
Learn more about lash extension industry here:
Who is Your Lash Studio's Ideal Customer?
The Right Visuals For Your Lash Studio Business Branding
How To Make Your Lash Studio Rank High Locally (Local SEO)
Make sure to follow our Instagram for more inspiration: BL Lashes on Instagram
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