Cosmetics franchises are just one of many beauty industry business types to consider when buying into a franchise. Here are some alternatives that may be a better investment.

BEAUTY IS BOOMING

Up from $438 billion in 2020 to $511 billion in 2021, and with a compound annual growth rate of 4.75% worldwide, the overall beauty industry is predicted to exceed $716 billion by 2025. Cosmetics are projected to account for $119 billion, a significant share of the market. However, unlike other pockets of the beauty and self-care market such as massage, waxing, and spa, a majority of the cosmetics industry has shifted to e-commerce, and that’s where a large portion of the profit will remain.

On its face, a cosmetics franchise offers some of the same services as other beauty salon franchise opportunities, including light facials, limited hair removal, and makeup tutorials and applications. But the crux of a cosmetics business is the retail sales of name brand makeup and skincare products. With the near limitless selection of skin and beauty products on the market, curating the right selection that customers both trust and desire is essential to a business’ success. You will also face your fair share of competition in the marketplace against the bigger stores as well as smaller, independent startups that are gaining steam online and in boutiques.

While franchising provides advantages that an independent business may not have easy access to, including brand connections, marketing support, and more, cosmetics franchising isn’t so simple.

The most widespread brick and mortar + online cosmetic retail names in the U.S. include Sephora, ULTA, and MAC, none of which offer any franchising opportunities. So what are some other promising options for entering the world of beauty and self-care through franchising?

HAIR SALON FRANCHISE

The global hair care industry is projected to reach $134.3 billion by 2028, and ample franchising opportunities exist within the industry. In-person hair care is deemed an essential service by many consumers, which allows business owners to rely on consistent, repeat business. For people who have been trained and worked as professional hairstylists, transitioning into the role of business owner can feel like a natural next step. But much like the cosmetics sector, hair salons face a great deal of competition, and customer loyalty plays a major role.

Many customers tend to stay loyal to a stylist over a business, regardless of the size of your brand. Unlike other beauty industry professions, like waxing, trained hair stylists are able to work from almost anywhere, so unless they are incentivized to work at your business, they may take their talents—and their client roster—elsewhere.

MASSAGE STUDIO FRANCHISE

Unlike haircare, massage is typically deemed a luxury service, unless it’s needed for medically therapeutic reasons. But a similarity is the massage therapist’s ability to operate independently, and sometimes more profitably. As a result of this and the proliferation of massage franchises, it can be difficult to attract and retain quality professionals to staff your business. And massage franchises don’t necessarily draw the same level of consistent, repeat business as a hair or nail salon or waxing studio.

Physical health and personal safety are additional factors that differentiate a massage franchise from other types of beauty franchises. Most states require that massage workers undergo specific training and receive licensure through state agencies. The licensing process ensures that prospective employees are qualified to deliver various types of massage, avoid causing physical harm, and also uphold professional and healthy behavior with customers. Not that this should be a hinderance to owning a franchise, but it is an additional factor to consider.

WAXING STUDIO FRANCHISE

The global waxing industry accounts for $11 billion of the overall beauty services market, making it a more consistent business opportunity than cosmetics and massage, and just as essential as hair salons. As a leading waxing franchise, Uni K Wax provides a full range of unisex waxing services and after-care products born from our founder’s emphasis on quality, world-class care, and industry-leading practices.

Every Uni K Wax studio serves as a mini oasis for our clients, outfitted with the highest quality natural wax blend suitable for the most sensitive skin. Our franchise owners are trained in the aspects of not only running a clean and comfortable studio that attracts and prepares the best aestheticians in the industry, but also in how to operate and promote their studios for maximum business potential.

With a simple business model, low overhead, scalability, and unparalleled support, Uni K Wax stands out from the competition in a booming industry.

To learn more about franchising with Uni K Wax, request information.