2.10.1Segment

Barbershops & Men's Grooming

Barbershop chains and independent men's grooming studios providing haircuts, beard services, and grooming products.

3
Verticals

Overview

Barbershops & Men's Grooming provide haircuts, beard services, and grooming through barbershop chains and independent studios. A men's-grooming revival has lifted demand, with modern barbershop and franchise concepts (and the men's-haircut franchise segment broadly) bringing branding to a traditional trade.

Demand is recurring: men's haircuts repeat frequently. The category has grown, though it remains highly fragmented. Franchise and membership concepts are the primary vehicles introducing scale.

Market snapshot

Market size
~$1.7B
Growth
~9.7%CAGR (2017–22, nominal)
Companies
~6,600 firms
Firms by employee count

96.8% of firms have fewer than 20 employees: 6,387 micro-businesses, below most mandates.

The investable universe213 firms with 20+ employees
20–99
18185%
100–499
2813%
500+
42%

broader men's-haircut franchises overlap beauty salons (812112).

NAICS 812111. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Business model & economics

Revenue model

Service fees and grooming-product sales; franchise royalties

Key economics

Revenue per firm
$251,994
Revenue per employee
$61,076
Employees per firm
4.3
Recurring revenue
Moderate–High

frequent recurring haircuts

EBITDA margin
10–20%
Capex intensity
Low

Characteristics

  • Balanced cost base: payroll is 48% of revenue, leaving room to scale margin without cutting staff
  • Owner-operator dominated: 95% of businesses have no employees and take 72% of revenue
  • Thin strategic-buyer pool: only 4 firms exceed 500 employees, so exits skew sponsor-to-sponsor
  • Men's-grooming revival lifting demand.
  • Frequent recurring haircuts support repeat revenue.
  • Franchise and membership concepts introducing scale.

NAICS 812111. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census; U.S. Census Bureau, 2022 Nonemployer Statistics.

Geographic concentration

AlabamaAlaskaArizonaColoradoGeorgiaIndianaKansasMaineMassachusettsMinnesotaNorth CarolinaNorth DakotaOklahomaPennsylvaniaSouth DakotaTexasWyomingConnecticutMissouriWest VirginiaIllinoisNew MexicoArkansasCaliforniaDelawareDistrict of ColumbiaHawaiiIowaKentuckyMarylandMichiganMississippiMontanaNew HampshireOhioOregonTennesseeUtahWashingtonWisconsinNebraskaSouth CarolinaIdahoNevadaVermontLouisianaRhode IslandFloridaNew JerseyNew YorkVirginia

Barbershops over-index sharply in the dense Northeast metros, where walkable neighborhoods and strong ethnic-grooming traditions support a shop on nearly every block: New Jersey carries more than two and a half times its expected share of firms and New York over twice, with Virginia and Florida trailing.

New JerseyNew YorkVirginiaFlorida

U.S. Census Bureau, 2022 Statistics of U.S. Businesses (firms by state), NAICS 812111. Concentration shown by location quotient.

M&A deal context

Deal activityEmerging

Who’s acquiring

  • Men's-grooming franchise networks
  • Personal-care platforms
  • Multi-unit operators

What’s driving deals

  • Franchise-led branding of a traditional trade.
  • Recurring men's-haircut demand.
  • Fragmented base with early consolidation.

Verticals in this segment

Find Barbershops & Men's Grooming acquisition targets

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