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10:34 AM / Saturday August 8, 2020

4 Oct 2014

African Americans in Philadelphia- Generating Revenue in the Hair Industry

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October 4, 2014 Category: Stateside Posted by:

“There are African American owned beauty supply businesses that generate millions of dollars in sales annually. As African Americans we need to expand our support of those businesses. We also need to encourage more African American entrepreneurs to enter the hair care and hair products industry and support them.  By pooling resources, cooperative economics, and learning the business with the assistance of seasoned mentors, Africa America entrepreneurs can break into the beauty supply business and become extremely successful.”  

James Yancey Hunter, III, President, Wilhunt Business Solutions 

“The answer to the question “How do we stop Asian retailers from cornering the retail beauty market in the African American community?” is simple. Just stop buying. That one action, fundamentally, will change the direction the dollars are flowing in and out of our community. Just stop buying.”

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Meldoria Miles, Supervisor and Senior Instructor, Divine Beauty School of Esther, Philadelphia, PA 

“We need to guide the residents of our community, starting as early as childhood, on how to become great business owners. We need to teach them more about retail businesses to ensure they are extremely prepared to be successful and profitable entrepreneurs.” 

Damon Montgomery, Partner, West Oakland Financial  

“African American women spend more dollars on hair and hair care products than any other group. For example, we purchase 70 percent of hair, hair products and accessories in what is a billion-dollar industry. Opportunities to earn money in these industries remain plentiful. However, the spending habits of African Americans do not adequately reflect the ownership opportunities for black entrepreneurs.” 

Catherine Hicks, Partner, Ultra Hair, Online-Hair Retailer 

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