Nail salon growth is on a tear
Who knew nail salons were on such a roll?
In the accompanying chart from FRED (Federal Reserve Economic Data) the aggregate revenue of a rather eclectic group of business types are plotted. These include nail salons, oil change and lubrication shops, bowling centers, and barber shops.
Since 1998, both bowling centers and barber shop revenues are relatively unchanged, which would surely be down on an inflation adjusted basis. Oil change and lubrication shops have experienced fairly strong 60% growth in this same period. However, the standout star is, by far, nail salons, which have – wow – quintupled since 1998. Move over Starbucks; MiniLuxe (aims to be the Starbucks of nail salons) is coming through.
Does the future hold self-driving cars, travel to outer space, and MiniLuxe NNN property investments nudging out CVS and Walgreens as favorites for the 1031 exchange crowd? Hmm…