PRESIDENT OF B.O.B.S.A THE NATIONS LARGEST BLACK OWNED BEAUTY SUPPLIERS
African American communities are hanging in the balance for real change and forward thinking solutions aimed at solving old problems with new challenges. This business plan has been developed to present a real opportunity to faith-based organizations seeking to change the economic landscape of African American communities through an innovated approach to business ownership.
Black-Owned Beauty Supply Association (BOBSA) is positioned to offer a new business concept, which is a Black-owned, beauty supply franchise store. This plan will result in a positive outcome as well as address the economic problem and concerns of African Americans within the community. Twenty years ago, hair care products aimed at African American consumers were supplied by small companies and sold through independent beauty and barber stores. While that is still often the case, some of those small manufacturers have now become divisions of large corporations such as L’Oréal and Procter & Gamble Co., two key players in ethnic personal care today.
Currently, African American population is 37 million, which is 12.4 of the United States population. According to our research, African American households grew 25.8between 1990 and 2000, more than four times as fast as that of non-Hispanic white households. Thus, over 3.7 million African American households have an annual income of $59,784 or more. Moreover, there are over 2.4 million upper income African American households with an annual income of $129,319 or more.
The Black hair care product industry is ripe for a company like BOBSA, as drug stores, grocery stores, mass merchandisers and Korean neighborhoods stores move closer to acquiring the ability to put the right products in the right store. Based on BOBSA’s research, there is a reason to believe that 2013 will provide a lift for the ethnic personal care business. African American hair care products represent about 40 of the total category and according to industry suppliers in the business, hair care is ripe for a big year. Beauty Industry forecasters this year predict a wide range of looks that will lead to a bump in several segments of hair care. According to Soft Sheen/Carson President Candance Matthews, “Many opportunities exist because of the numerous styling choices of today’s African American, from relaxed hair to natural styles, from afros to the bald look.”
There are also a large percentage of women in transition from relaxed to natural hair, BOBSA will provide a wide selection of hair care products targeting women seeking to purchase natural products. Among African Americans both physical and cultural factors influence purchasing decisions of such products as hair care items. Many of the types of hair styles that been favored by many African Americans involve chemicals and heat that tend to dry out and damage hair. Nonetheless, ethnic products, once comprising a relatively narrow niche, have now gotten the attention of large consumer product companies eager to capitalize on this growing market.
Who are we?
The BOBSA Organization was established in 2003 for the purpose of empowering the African American beauty and barber community in order to establish sustained economic development in the black hair care and cosmetics sector.
BOBSA is the premier national organization that provides African American’s the platform to demonstrate competitive leadership in the $9 billion dollar Black Hair Care & Cosmetic industry worldwide.
BOBSA has created an international strategy for the Black Hair Care & Cosmetic industry. We establish roles and obligations for the private and public markets as part of an international strategy covering ownership, management, employment equity, skills development, procurement, corporate social responsibility, investment and enterprise formation. We recognize, value, and seek out those individuals and businesses that have a positive impact on related traditional and new hair care institutions. We have connected the black dots in communities where these opportunities were not readily available to the African American demographic.
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