Written by Elma Steven | Updated on February, 2024
Find Out- Is Tattoo Shop Business Profitable?
The profitability of your Tattoo shop business depends on 4 important factors: Industry Prospects, Investments, Revenue Sources, Cost and Profitability. We have taken a deep dive to find out potential profitability from the Tattoo shop business.
Tattoo Shop Industry Prospects
The global tattoo market size was valued at $2.2 billion in 2023 and is projected to grow to USD 3.73 billion by 2030, with a compound annual growth rate (CAGR) of 9.7% during the forecast period (2023-2030) (skyquestt). Another source estimates the market to be valued at USD 14.70 billion in 2023 and it is projected to reach USD 23.99 billion by 2032, exhibiting a compound annual growth rate (CAGR) of approximately 9.5% during the forecast period2. The market is anticipated to experience substantial growth from 2023 to 2032, driven by factors such as changing societal perceptions towards tattoos, technological advancements in tattoo equipment and an increasing acceptance of tattoos in medical applications