Business Overview

Many people wear wigs to either make a fashion statement or replace hair they’ve lost due to a medical condition. Wig store businesses are where individuals can go to purchase the wigs they want. According to IBISWorld, the wig and hairpiece industry brings in $224 million annually, and there are under 700 businesses in the industry.

Who is this business right for?

Anyone who is passionate about hairstyles and enjoys interacting with people may be well-suited for running a wig store. The work requires a knowledge of current hairstyles, and business owners often work directly with customers who want wigs.

Business owners can start a wig store business while working another job full-time. Running a physical retail store while keeping another job likely isn’t possible, but business owners can start up an online store or offer in-home consultations. Both of these models could be managed during evenings and weekends.

What happens during a typical day at a wig store?

A wig business owner spends much of their time directly assisting customers who are looking for wigs. This may include:

  • answering questions about different types of wigs
  • showing customers wigs that are available
  • making sure wigs fit properly
  • demonstrating how to properly care for wigs

When not serving customers directly, business owners spruce up displays (for physical stores), take product photos, order additional inventory, market their store and complete administrative tasks.

What is the target market?

A wig business’ ideal customer is someone who cares about their appearance, wants a different hairstyle and has discretionary income. Such as person not only is interested in wigs, but has money to either purchase one or more higher-quality products.

How does a wig store make money?

A wig store makes money by selling wigs to customers. Wigs are typically sold on a per-piece basis.

What is the growth potential for a wig store?

Most wig stores have a single location, with some being just part-time businesses run by one person. In theory, however, a wig store could become a franchise with locations throughout a regionor even the entire country.