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Given all the headlines
and commotion in the hair restoration industry, who
would have thought that nonsurgical hair replacement
is making a huge comeback? Yes, 2001 was indeed the
year when everyone was talking about Farrell Hair Replacement.
It totally caught us by surprise when the activities
in the Farrell forum could actually rival that of HairSite's
flagship forums such as Hair Multiplication and Dutasteride.
For lack of a better way to explain this, we simply
coined this sudden surge of interest in hair replacement
"The Farrell Phenomenon". Richard Farrell's
clients, in an unprecedented display of support and
camaraderie, took to the forums touting Richard's artistry
and craftsmanship, rekindling interest in non surgical
hair replacement, an industry that up till now seemed
thwarted by a lack of innovation and breakthroughs.
I was anxious to sit down and talk
to the man at the helm of the company that has just
been named by HairSite "Best in the World"
for the eight consecutive years. I chose to meet Richard
at one of New York City's trendiest restaurant at the
Hudson Hotel. Thanks to the never-ending discussions
in the Farrell forum, I had a fairly accurate preconception
of what Richard is like: a young, laid back and charismatic
visionary who also has a flair for artistic perfection.
Some have labeled Richard as a hybrid between an artist
and a businessman. Richard spoke openly and enthusiastically
about his clients, his innovative ideas, his passion
for changing people's lives and redefining the industry.
: Richard,
how do you feel to be named "Best
in the World"
for
the fifth consecutive year?
Richard Farrell: David,
it means a lot to us to have this
recognition. It's major. Thank
you.
:
While this is undoubtedly a great accomplishment on
your part, this also means that there is a certain void
in the industry in the sense that there is not enough
competition out there. The industry is resistant to
change and slow in adopting new techniques. Correct
me if I'm wrong, but there have been practically no
major breakthroughs in this industry for the past 10
years.
Richard Farrell:
You're right about the lack of major breakthroughs but
the industry has profited heavily because of its strong
resistance to change. Billions of dollars are shared
among fewer and fewer of the companies that make wigs
and other hair goodies. Unfortunately, those rich companies
ended up controlling the entire industry. The way they
profit is that the manufacturers, the distributors and
the large hair replacement companies have virtually
flooded the market with inexpensive factory produced
hair systems. That's really sad. They've succeeded in
ridding our industry of all the artists and replaced
them with salespeople instead. It's shocking, but all
of the companies I know of are factory reliant. I'm
blown away that this was allowed to happen. Where are
the future Max Factors? Thank God consumers are more
sophisticated these days. Look, you have been educating
them so hopefully their knowledge will force changes
in the industry. I think new breakthroughs will eventually
emerge as the Big Boys of the industry fade away.
:
Richard, where do you see the hair replacement industry
5 or 10 years from now?
Richard Farrell:
Well, I think the industry is going to boom. I think
that more people will start seeking solutions to their
hair loss situations instead of just living with their
problem. And I think the general public will become
even more educated and eventually have an even stronger
influence on the industry, as it should.
We'll probably see hair replacement
companies become one-stop shopping experiences offering
every type of hair loss remedy imaginable. I'm not sure
if that's a very good thing for hair loss sufferers.
It seems like a drug store mentality to me. You know,
where they sell you everything and believe in nothing?
We've already seen surgical hair replacement companies
offering nonsurgical options and nonsurgical companies
are offering surgical procedures. I see a future for
some surgical procedures and I want to be ready for
other hair loss remedies that appear to be on the horizon
like Gene Therapy and Hair Multiplication. But Farrell
will only offer solutions to hair loss situations that
make good sense.
:
Since you mention it, with all the talk about hair cloning,
gene therapy and hair multiplication, are you concerned
that nonsurgical hair replacement will no longer be
considered a viable option for hair loss?
Richard Farrell:
No way. I don't think so. Nonsurgical hair systems are
finally getting the respect they deserve instead of
being the butt of jokes. I mean, why shouldn't they
get the respect? It's the best answer by far to hair
loss problems. I believe that there'll always be reasons
for clients to choose the nonsurgical route. For hair
loss resulting from radiation and chemotherapy, the
nonsurgical approach is absolutely the only answer.
Furthermore, hair systems are the best approach when
compared to surgical procedures, especially if the client
wants enough density to wear current hairstyles.
Unfortunately, the costs of the new
technologies you are talking about will probably be
prohibitive to the average hair loss sufferer. We'll
just have to wait and see. I feel our niche in this
industry is safe for at least the next 20 years and
we intend to adjust to the new technologies as they
appear and offer our clients the best of them.
:
If your systems are really as good as your clients say,
why is Farrell not a household name like Hair Club for
Men? How come most people have never heard of Farrell
except on the Internet and in particular, HairSite?
Richard Farrell:
Hey . . . hearing about us continually on HairSite and
the Internet is okay with me. In fact, let's get real
here. The Internet is powerful! It's true that you don't
see us on TV commercials or highway billboards but being
a household name throughout the Internet makes me very
proud. Our high rankings on the Internet have come about
through customer satisfaction which in itself has created
a phenomenon on the web. You know your Quality Assurance
Program? That put a lot of pressure on us. Same with
how you monitor of all our activities in the HairSite
forums. So we haven't felt the need to advertise for
several years now. Look, word of mouth, to me, is the
most credible form of advertising. That, along with
the Internet fuels our comfortable and controlled growth.
Even though we'll always be a small to medium sized
company, that doesn't mean we won't be a household name.
Anyone who is doing their research on the Internet knows
about Farrell. So who's to say that we're not a household
name now?
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