Consumers worldwide continue to spend more disposable income on beauty products and services, because it makes them feel great and look good. There are many great beauty franchise opportunities to consider, including a beauty salon franchise, hair care franchise, cosmetics franchise, tanning franchise, med spa franchise and more. No industry experience is typically required, and you'll own a potentially profitable business that's fun to own and helps people look and feel their best!
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Health and beauty franchises are virtually recession-proof, because no matter how bad the economy’s doing, people still want to look and feel their best. Although they might be a little more frugal, they never completely stop spending on treatments that bring out the radiant beauty that dwells within.
In 2019, the average revenue generated by a hair salon in the US was $245,000. Total revenue brought in by the nation’s 257,000 barbershops and salons was $63 billion.
Beauty Franchise Trends
One of the hot new trends in the health and beauty industry is consumers looking for establishments that use environmentally products produced sustainably. Greater availability about the benefits of using these kinds of beauty treatments is propelling this explosive growth.
The Male Demographic
One of the fastest-growing target demographics in the beauty industry is men. Years ago, men’s grooming was looked upon as a lavish extravagance exclusively reserved for those in society’s upper echelons. Fortunately, the stigma around male personal care is being relegated to the dustbin of history, and men are allowing themselves to be pampered.
Although women account for 90% of beauty and personal care revenues, the men’s grooming industry is expected to skyrocket to unprecedented levels in coming years. The male grooming industry is expected to exceed $166 billion in worldwide revenues by 2022. Cosmetic companies plan to capture part of this segment by releasing new skincare lines for men, and barbershops have begun offering a dizzying array of styling options to attract men, with pampering rivaling what women can get in beauty salons.
Modern Grooming Franchises
Modern salon franchises are revolutionizing the way personal care is done. This includes top-shelf beverages, sumptuous leather chairs, and a sophisticated ambiance more like an upper-crust country club than a barbershop. Customers of these establishments enjoy more than haircuts. In fact, they can choose from a comprehensive menu of ultra-premium services such as professional shoe shines and skincare.
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