Beauty Business Still Booming in Ugly Economy

Ted Gibson
Ted Gibson

Salons are everywhere these days, because according to industry experts, the beauty business is booming.

Research done through reported that there were over 400,000 beauty salons in the United States in 2005, and Americans spent over $23 billion a year on haircuts alone.

"This career is in demand," says Ted Gibson, celebrity stylist to stars such as Angelina Jolie and Anne Hathaway. "My New York salon is seeing numbers that we have not had since 2008. The beauty business is one of the last to feel the effects [of the economy] and the first to come back around."