Apprenticeship are not paid at nmw or even close. £7.55/hr is not min wage. I am in the industry. I know exactly which company you're speaking of OP. Check out that company's profit on Company's house. And then tell me they can't afford apprentices.
Franchises and independent owners are the ones who will most likely feel the pinch with the increased min wage. The margins are so stretched to make any profit when you don't have the buying power of the big chains. Some/most franchises will have discounts available. Costs across the board are sky rocketing. Unfortunately, if salons want to stay in business they cannot feasibly pass off the full cost to the client. There will be salons closing up shop due to this.
Hairdressing has always been pay based around min wage, with commission plus bonuses depending on the site. The increase in min wage has meant pretty much all salons have had to increase their targets before stylists can be paid commission. This will effect the commission and over all pay of hairdressers. Sometimes an increase in min wage doesn't actually pay as well as one might think. The impact on the industry will be huge. Coupled with the increased NI Especially for those chains. Smaller independents may come out better due to small business tax breakers in place.
I know several stylists who are making higher tax contribution wages with commission and owners who are still making money but to the extent they were previously.
Apprentices often are the most valuable part of a salon team. The business cannot run at capacity without them. They are often also overworked and exploited. They should be paid nmw as a standard. Not an apprenticeship wage. Businesses can claim back part of their training expenses. The problem is that these business are often not equipped to pay nmw and keep the margins profitable.
It's an ugly situation. The industry is in turmoil. Let's not even mention the unrealistic expectations of clients thrown in and having to be public facing.
I've tried to post a balanced view point, but then again I am biased and working without Apprentices is a major business killer.