Franchise Spotlight: Beauty
Industry trends show an increase in the number of people prioritising beauty and personal care, which means there are a wealth of franchise opportunities in this industry.
The beauty industry is hugely varied and covers everything from hair salons, make-up and hair removal to nail and skin treatments. The 2020 health pandemic saw many beauty establishments being forced to close due to social distancing restrictions, however, consumer interest remains high and, thanks to those who enjoy an established beauty regime, the re-opening of such services saw a surge in sales. Some businesses took the pandemic as an opportunity to diversify their product range and services, including do it yourself home treatment packs.
The market for beauty and personal care is competitive and fast-growing - with an increase in consumers looking to prioritise their appearance. Social media and online marketing have impacted this industry growth, with celebrity beauty secrets and trends from around the globe only a click away. Online videos of personal grooming, hair styling and make-up application have all added to the accelerated growth of the beauty industry.
Trade Secrets/Glamour Secrets is a well-known brand that offers franchisees the chance to be part of their established, upscale boutique business. Tommy Gun’s Original Barbershop has capitalized on the number of men looking to improve their personal grooming habits and have focused on incorporating modern technology to enhance the consumer experience.
Beauty Industry Analysis
With a revenue of over CA$9500million in 2021 and continued growth expected (Statista), the beauty industry is an exciting and profitable one to enter. Franchisees looking to break into this market will undoubtedly benefit from the support and expertise, as well as the brand name, of an established business.
Customer satisfaction is vital for repeat business and brand reputation, so franchisees will need to excel in customer care, people skills and communication. Many companies do not require specific training in the beauty sector as they provide comprehensive training. There is also scope for franchisees who are interested in managing and scaling up their business, rather than providing the beauty services themselves, to invest in multiple locations, depending on budget and personal circumstances. With such a variety of beauty options available, there is something for everyone in the beauty industry.