Masks off. Lipstick on. Lipstick sales have grown 37% in 2022 versus 2021 through October. The strong revenues are also likely correlated with the present economic environment by what has been called the “The Lipstick Index” ( https://www.npd.com/news/blog/2022/the-evolution-of-the-lipstick-index/). The Lipstick Index essentially says that when consumers are forced to cut back on discretionary purchases, they will reward themselves with smaller purchases, often in the beauty sector, that enhance their personal perspective on life.
The beauty industry has historically been a domain for high achievement by female entrepreneurs (https://www.forbes.com/sites/chloesorvino/2017/05/18/self-made-women-wealth-beauty-gold-mine). A pause in the sector occurred during the pandemic, but all indications convey that the tide of activity has returned and is rising above historical marks.
IBA for approximately fifty years has been a market leading business brokerage firm in the beauty & cosmetology sector of the economy successfully facilitating business sales in Washington & Oregon of established, profitable companies. Past completed transactions have included manufacturers of products, cosmetology schools, perfume & cosmetic retailers, hair & nail salons, and personal enhancement businesses offering Botox to tattoos. In Q4 of 2022, IBA sold a highly regarded hair care destination in Bellevue and has a medical spa in escrow.
Both of these transactions were facilitated by Andrea Lines. Andrea Lines is the current lead intermediary in IBA’s Female Owned Business Transaction division. IBA was one of the first business brokerage firms in the region to recognize that female entrepreneurs often prefer to engage with female professional advisors. In the 1980’s & 90’s, female dominated industries like travel agencies and floral, were served by legendary IBA business broker Susan Howard, who I had the honor of working with on the sale of a multiple location chain of travel agencies, pre Expedia, that had operations in both Oregon & Washington. Today, female entrepreneurs have success across the economy from manufacturing to construction and from technology to retail. The following are a few of the amazing female entrepreneurs IBA has served over the years: Ann Bailey ( https://ibainc.com/blog/nesha-ruther/the-story-of-ann-bailey-ecochem/), Joanna Bruno (https://ibainc.com/blog/nesha-ruther/the-story-of-joanna-bruno-jr-bruno-associates/), and Judith Gille (https://ibainc.com/blog/david-garfield/the-story-of-judith-gille-city-peoples-mercantile/). IBA is pleased to support the development and achievement of female business leaders.
Female owned businesses are growing as a segment of the economy (https://www.yahoo.com/now/data-shows-growth-women-entrepreneurs-114200582.html). IBA is honored to serve this demographic group with market leading knowledge, experience, and skill employing best practices. If you are a Baby Boomer who helped break the glass ceiling of opportunity available to women executives who wishes to sell your business and transition to retirement or philanthropic pursuits, a creator who wants to sell to pursue a new opportunity, or a female ready to acquire a company and become its president, the members of IBA’s team would welcome the opportunity to talk with you. All conversations with IBA are held in strict confidence.
Significant entrepreneurial opportunities will exist in the economy in 2023 for those with vision, resources, and the ability to execute. The beauty & cosmetology industry offers one of those opportunities, as it often does when the economic cycle hits a recessionary period, but as a glass half full perspective person, I embrace the possible and endorse the leadership of Robin Chase, Founder of Zip Car who famously said, “Luck is where preparation meets opportunity.”
IBA, the Pacific Northwest’s premier business brokerage firm since 1975, is available as an information resource to the media, business brokerage, and mergers & acquisitions community on subjects relevant to the purchase & sale of privately held companies and family-owned businesses. IBA is recognized as one of the best business brokerage firms in the nation based on its long track record of successfully negotiating “win-win” business sale transactions in environments of full disclosure employing “best practices”.