The beauty, health and wellness industries earn hundreds of billions of dollars each year. Franchise opportunities abound in these industries and are an attractive option for anyone thinking about starting a health and beauty business. Health and beauty franchises offer numerous benefits to start-up entrepreneurs, including:
- Brand recognition—Many health and beauty franchises are nationally known and the franchisor, be it beauty salon franchises, day spas, hair salons, tanning salons, fitness franchises or home health care franchises, have spent money on advertising and marketing to establish their brand.
- Marketing assistance—Most franchise opportunities offer joint marketing and advertising opportunities—from store locators on their website to universal store promotions and sales.
- Purchasing and operations assistance—By purchasing in bulk, retail health and beauty franchises are able to get products at better prices than independent small businesses.
- Start up assistance—When you open a franchised health and beauty business, the franchisor offers assistance with store design, staff training and finding financing.
- Protected territories—Many health and beauty franchises come with a guarantee or non-compete clause that prevents the franchisor from selling franchises to anyone else in your territory.
Business can be looking good with beauty salon franchisesBeauty salon franchises include hair salons, day spas and tanning salons. You don't have to be a celebrity stylist to own successful hair salons. In fact, you don't need to be a hairstylist at all. However, you will need to hire licensed cosmetologists to provide services for your clientele, and you will need to stay current on trends in haircuts and color.
Beauty may only be skin deep, but health franchises go furtherHealth franchises include beauty supply stores, laser treatment centers and massage business opportunities. Note that laser treatment centers need to be licensed as medical facilities and require medical staff. And if you want to open a massage business, you'll need to hire licensed massage therapists.
Pump up your income with fitness franchisesHelping Americans get in shape can help you succeed in business. Fitness franchises have been around for decades and still rank as a strong performer among franchise opportunities.
With diet franchises, your customers' loss is your gainEach year, Americans spend billions of dollars on weight-loss products and services. And diet franchises that offer weight-loss programs and meal delivery services are seeing a chunk of that cash.
Home healthcare franchises are a booming marketThe baby boomer generation is getting older and due to the rise of active adults (55 and older) and retirees, home healthcare franchises and other health franchises are some of the fastest growing franchise opportunities available.
Do your homework before you invest in franchise opportunitiesCheck to make sure your franchisor is accredited and offers fair and ethical franchise opportunities.
Turn existing businesses into health and beauty franchisesIf you've built a successful health and beauty business and want to branch out, consider becoming a franchisor before you opt to open more locations on your own. With health and beauty franchises, you can expand faster and reach a wider audience, plus you'll earn money on the franchises you sell.
- Before investing in any franchise opportunities, read the franchisor's Uniform Franchise Offering Circular (UFOC). This legal document includes information and disclosures, such as deposit agreements, non-compete clauses, compliance certification, site selection guidelines and other information.
- Before you invest in health and beauty franchises, ask the franchisor what support and training are provided for start-up, ongoing operations and marketing.
- Most states require additional certification for health and beauty salon franchises. Make sure your franchisor can assist you in finding out all laws that are applicable. You'll also need to make sure that your staff is certified in the state in which your franchise is licensed.