Beauty is taking on a whole new look these days. The emphasis is on self-care, being your best self, looking your best, and personal wellness. There is importance placed on many factors across the board in the marketplace, especially in the health and beauty sector. Of utmost importance are brand loyalty, brand transparency, inclusion, and diversity. Consumers are also looking for brands that are eco-friendly. For the beauty industry, terms like natural, clean, and sustainable are a few watchwords leading the trends in 2023. Perhaps one of the most impressive movements the beauty-service industry is seeing is a realistic reflection of the population, driven by consumer demand.
What’s Trending
For example, when it comes to cosmetics, consumers want to see brands that mirror what real people look like. The new paradigm is advertising showing people from diverse backgrounds, of all ages and sizes, with an affinity for non-airbrushed models. Germane to the conversation is also the increased use of personalization or customization via technology like AI.
Beauty and Personal Care Industry
If you are looking into a business investment opportunity in this sector — the numbers are attractive. In a recent report from Statista, revenue in the Beauty and Personal Care industry is expected to be $571 billion globally in 2023, with a growth pace of 3.80% through 2027. The bulk of that revenue is from the United States, where numbers are anticipated to reach $91 billion this year.
Benefits of Being Part of a Beauty Franchise
To make the most of your investment, being part of a beauty franchise will be more advantageous than starting from scratch with a business startup.
- In franchising, a brand model has been tested in the market and has a proven track record.
- Franchise owners typically receive extensive training and ongoing support from the franchisor. This includes everything from help with setting up the business to marketing and advertising support, as well as ongoing training to keep up with the latest industry trends and best practices.
- As part of a franchise, you can take advantage of the franchisor's buying power and negotiate better deals on supplies, inventory, and equipment. This can help you save money and increase your profit margins.
- Franchisors typically provide their franchisees with marketing and advertising materials, as well as access to national and regional advertising campaigns. This can help you reach a larger audience and build your customer base faster.
- Franchise systems often invest heavily in technology and innovation to stay ahead of the competition. As a franchisee, you can benefit from these investments and leverage the latest technology to streamline your operations and improve your customer experience.
Beauty Franchises to Avoid
Before looking at what’s trending, it’s important to avoid what’s not. Buyer beware, you want to stay away from fads. It’s best to be involved in a franchise that is part of a growing trend showing year-over-year gains.
- Look at the franchise’s track record, business plan, and financial history.
- Evaluate the investment and break down the costs to ensure you’re getting the best bang for your buck. Costs are dependent on a number of factors that should be looked at on a case-by-case basis.
- Examine the competition. Don’t jump into an already saturated market unless you have a unique offering.
- Do your research and check the franchise's reputation and reviews. Negative reviews or a poor reputation can indicate potential problems down the line.
5 Beauty Franchise Trends in 2023
Now that you are aware of the red flags, it’s time to take the bold next step in your business ownership journey and narrow your search. Take a look at these five beauty franchise opportunities that are trending due to high consumer demand.
Being part of a beauty salon franchise is a big umbrella term encompassing many areas in the health and beauty industry and offers an array of services. It can include hair care needs like color, cuts, and blow-outs. But there’s also a big increase in specialty areas like nails, tanning, waxing, lashes, laser hair removal, and skincare. These trends are growing because they involve personal care, giving customers the opportunity to look and feel their best.
- One of the trends to look and feel your best in 2023 includes makeup franchises. Brands are tasked with creating makeup and showing consumers how to use it to create a “natural” appearance. The makeup not only allows consumers to look their best but treat their skin at the same time.
- When it comes to trends with hair salon franchises, there are many specialty areas, like kids’ cuts, sports cuts, color bars, and digitalization. Technology is doing everything from online appointment setting to showing customers what a new hairstyle might look like on them through computer-generated programs.
- Another trend that is picking up is the concept of the salon suite franchise. This allows stylists to rent or lease suite space, giving them more freedom and being one-on-one with clients without spending traditional salon fees. For franchise owners, it means recurring revenue with rent payments covering expenses and growing profit.
- Next are hair removal services, including waxing franchises, sugaring, and threading. Sugaring is hair removal through an organic sugar compound, and threading is literally using threads to shape and remove eyebrows. This is part of the personal care sector growing steadily as more people, especially women, want to throw away their razors.
- The largest beauty franchise trend seeing the biggest growth is the day spa space offering massage and facials. According to stats from IBISWorld, massage is an $18 billion industry in the United States. Its popularity is attributed to its healing properties. Many people find massage a relaxing experience that helps them de-stress and unwind. Massage can help release tension in the muscles, improve circulation, and promote feelings of calm and relaxation. It’s an effective tool for pain relief to promote healing for musculoskeletal pain.
MassageLuXe is Leading the Trend
At MassageLuxe, we are a leading spa franchise that provides luxurious treatments to clients across the country. Encompassing a vast menu of services, including massage, facials, and waxing. That’s important because increasing your offerings as a franchise owner provides additional revenue opportunities.
As a franchise owner, the quick ramp-up means you can potentially fast-track profit. You benefit from our membership model, which lets you capitalize on recurring revenue. You can generate additional income through product offerings and gift card sales.
We believe in providing beauty treatments meant to enhance health and well-being, allowing our clients to live their best high-quality life. Massage is hands-on natural healing and stress relief. We understand this self-care is what our clients are looking for. In keeping with the trends, while our treatments utilize age-old massage therapies, we also operate our businesses with the latest technology designed to streamline customer care and make your business easier to manage as a franchise owner.
If you’re ready to be part of a growing trend in a beauty and personal care franchise that allows you to enjoy business ownership with expansion opportunities to multiple units, then we can help you achieve your goals.
To learn more about spa franchise opportunities with MassageLuXe, please fill out the contact form.
