This year rang in with the echoes of resolutions for 2023 — organizing our homes, reading a stack of unread books, furthering our careers — the list is different for everyone. However, some people woke up January 1st with the intention of renewed goals that include skincare regimens, beauty routines, and self-care. The market is teeming with trending business concepts to meet these needs and wants.
The franchise marketplace has always been home to some of the hottest beauty and wellness trends. Latest stats say that the beauty industry is set for an 8% growth this year and is expected to be worth over $570 billion globally in 2023. If your new year’s goal is business ownership, then this may be the industry you want to invest in. Check out the following list of just a few of the newest franchises around, each one touching on some of the best, most lucrative segments.
Luscious Lashes and Unbeatable Beauty
If you haven’t seen the new lash look sweeping the nation, then you soon will. Lush and full, lash extensions and lash lifts are a wildly popular beauty trend that naturally beckoned to be franchised. On top of this high-demand revenue stream, Avari Beauty harnessed even more revenue inducing services and created a powerful, can’t-be-stopped brand that is full of potential. The company took the opportunity to franchise in 2022. The brand gives its franchise partners strong buying power, some seriously diversifying services — such as microchanneling, LED light treatment and tiny tattoos — and full spectrum support.
Beauty from the Inside Out
What do primary healthcare, IV therapy, and a medical spa have in common? They are all billion dollar market segments that are expected to grow. So when Health + Glow chose to develop a franchise model that touched on each one of these industries simultaneously, they were choosing sure-footed success. Franchise partners gain access to all operations, IV combinations, marketing, key vendors, and other important business elements. Health + Glow works with major insurance providers to get first time customers in the door with their primary physician services and then share their med spa and IV therapy solutions.
New Year, New You
Grandview Research cited that the body sculpting industry has a projected compound annual growth rate (CAGR) of 14.3% from 2022 to 2030. That being said, it takes a strong, proven model, stable branding, established systems, and great customer feedback to win in any market with this type of business and Bodenvy Cool Sculpting delivers. Aside from a traditional storefront, Bodenvy Cool Sculpting can be operated from a retail location and based on the corporate operations incredible success and roll out in the Orlando and Tulsa markets, the response has been nothing short of game changing for the beauty services franchise market. The flexibility combined with a variety of services — all of which are non-surgical — makes Bodenvy Cool Sculpting a great step into this industry.
Set Sail with this Salon
This California-based salon franchise took the old adage “blondes have more fun” to heart and created a dedicated niche salon that specializes in creating the perfect blonde look for its clientele; the company also offers haircuts and extensions. The company has two company-owned units in Portland and San Diego. Differentiated by its specialties, franchise partners will find themselves as an instant stand-out and can feel confident about growth in the appropriate markets. Blonde Voyage has several perks to ownership including an exclusive territory, site selection assistance, design collateral, training, field consultant access, and more.
The Suite Spot
You’ve probably noticed that the salon booth renting model got an upgrade to a tenant-occupied suite model. Rather than strictly adhering to cut and color services within a shared common space, this model offers private rental suites for all beauty and wellness related services, depending on the brand’s specific parameters. Beauty Bungalows is one such model that was first launched in 2022 that rents suites to professionals such as hair stylists, barbers, estheticians, laser hair removal specialists, make-up artists, and more. The brand offers a mutually beneficial agreement to the franchisees and their tenants as both work to ensure a welcoming environment for all guests. Franchise partners gain recurring revenue through rental agreements, experience initial and refresher training, and have full spectrum support for the life of the franchise.
My franchise consulting firm, Franchise Marketing Systems, can help guide you in the right business for you. We work with several business owners around the world to develop their successful businesses into successful franchises. Whether you are seeking to own a franchise or you’d like to franchise your business, our team can help. Contact us at www.fmsfranchise.com
Chris Conner has worked in the franchise development industry for almost 20 years and helped over 600 brands franchise their brand and develop franchise distribution channels. He founded Franchise Marketing Systems in 2009, which now includes a team of 27 franchise consultants based in and Canada and supports brands around the world to grow and scale through franchise expansion. Visit www.fmsfranchise.com for more information