Franchise Spotlight: Beauty
Franchising offers a robust business model in the fast-growing, competitive beauty sector.
Statistics show that the global beauty industry is worth an impressive $500 billion, with the US accounting for nearly 1/5 of this revenue. Furthermore, this is a sector that looks set to grow. The recent spotlight on wellness (both inside and out), the rise in celebrity beauty lines and male beauty products becoming more widely promoted has contributed to a real rise in market revenue and doesn’t show any signs of slowing down. The beauty industry is a diverse one and with that comes a host of franchise brands.
Beauty industry analysis
The beauty sector is a highly competitive and fast changing market, as beauty trends come and go at a rapid pace. A franchise can be a great option for those who are keen to break into the beauty industry, but feel daunted by the challenging and competitive market. A franchise will offer site set up and ongoing support, industry training and mentoring, access to the best products at discount prices and will guide and advise you through industry trends. Furthermore, the marketing tools and banner of a recognized brand will help attract customers as you build your client base.
The hours can be long and you can be on your feet for the majority of the day. However, this can be a hugely rewarding industry to be a part of for those who enjoy meeting new people and building long-standing relationships. Strong managerial skills, a good head for business and a passion for the beauty industry are also key.
Although this industry is not as glamourous as one might initially expect, it can be a lucrative sector to be part of and looks set for a bright future.