Investing in a franchise in the salon industry can be a great option for anyone looking to get into the thriving health and beauty industry.
According to Statista, the UK is among the three leading cosmetic consumers in Western Europe with a market value of a staggering £9.8bn in 2017! If you’re interested in a career with a business that is truly sparking, then look no further than beauty franchises. In particular, salon franchises. There are a whole range of beauty treatments and services at salon franchises, such as eyebrow threading, waxing, facials and micropigmentation. In fact, demand for these services has skyrocketed over recent years so now is the perfect time to change your career – and your life, for the better.
Here, we look into the top 5 reasons why a salon business is the ideal choice for many.
1. Enjoy immediate salon brand recognition.
One of the leading advantages of all franchises, but is no exception to salon franchises, is brand recognition.
One of the reasons why many choose to open a salon franchise as opposed to starting up a business of their own, is that with salon franchises, you’re buying into an established and recognized brandname. That isn’t to say that startups aren’t successful, because many are but with a salon franchise, you can catch customers' eyes as they walk down the street and see the branding and logo of a business they know and love, and associate with a positive vibe.
By trading as an established brandname that is recognizable, and by using leading beauty products, you’re sure to win the customer’s attention and you’ll benefit from repeat income streams as customers come back for more.
2. The success rate is higher.
Another reason why salon franchises are such a popular option for anyone looking to run their own business, is the success rate. Franchising has a very high success rate.
When you start an independent business yourself, you are all alone and bound to make mistakes. When contrasted with an established salon franchise business, you’ll benefit from the training and support provided by your franchisor.
When the franchisor themselves started the business initially, it is likely they made the mistakes that one would when starting up their own salon business. With a salon franchise, you’re following in the footsteps of a franchisor who has made mistakes and learnt from them. Therefore, the success rate of a salon franchise is much higher and you’re more likely to be successful yourself.
3. Take advantage of proven business model and support.
Many salon franchises that are currently for sale have a proven business model. Although this does not mean you are guaranteed success, it does show the business is credible, and if you see how well their other franchisees have done, it shows the sky is truly the limit.
As part of the ongoing support, the franchisor may put you in touch with other franchisees, so that you can communicate and share ideas on how to best run your business on an ongoing basis. You may find new tips and skills from other franchisees who have tested the water in their local area and have learnt techniques that you can also carry out to attract a surge in customer demand, be it marketing techniques or salon tips.
Be sure to follow the franchisor’s instructions on running the franchise business model though and do not stray from the proven system of operation. You’ll need to remember that the franchisor knows best. Whilst there is some room for experimentation as it is your business, you must respect their brand and values.
4. Working for yourself, but not by yourself.
Many people, when running their own salon franchise, feel a lot more passionate about working as hard as they possibly can since when you are running your own business, everyday of hard work you put in will better the outcome for yourself and your career in the beauty industry.
Working for yourself, but not by yourself, means that you can benefit from the appreciation of running your own business whilst benefiting from a more flexible lifestyle.
Many franchises can be operated either from home or part time. Home based franchises are typically operated as a management operation. You may not necessarily need to be at the salon all of the time. In which case, you’ll be at home managing staff and the day to day operations of the business and franchise. Employing a manager and salon staff means you may not even need any salon experience. Just managerial experience in choosing the right people to grow your salon locally.
5. Start up with lower costs.
One of the main reasons in why many people are interested in starting a salon franchise these days instead of running their own independent beauty business, is that when investing in a franchise, you do not just get the territory. You get all the marketing and equipment you need straight away, which helps you achieve business success as soon as you possibly can.
Whilst you’ll probably need a shop to start with (unless you’re running a mobile beauty salon or kiosk), costs can be substantially lower because you won’t need to spend too much time on designing logos, storefronts and spending time on training, when all of this will likely be provided for you. As part of the investment, things like uniforms, territory, marketing and training will be provided in a way that is effective and will help you to hit the ground running.
There are a wide range of beauty franchise opportunities out there, so start your journey today by finding your ideal beauty franchise, be it a storefront beauty franchise or a mobile salon.
Hopefully, from the points above, now you have a better understanding of the beauty industry and why investing in a salon franchise could be a great option for you. If you are still not sure about investing in a salon franchise, then why not find out more about the salon industry on SalonToday which is a large resource for anyone looking for ideas on running a successful business in the salon industry.
About the author: Joel Bissitt is director of Infinity Business Growth Network Unlimited. He can be reached via email at email@example.com.
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