Why beauty franchises are a great opportunity in 2021
The start of 2021 saw the closure of many businesses across the UK. Unfortunately, many of these businesses may be unable to reopen due to job losses and financial troubles. While this is of course terrible for the business owners who have been struck by the problems caused during the pandemic, it does leave many doors open for new businesses to build themselves up and take the places of those that have had to close.
One industry that has seen significant cuts during COVID-19 is the beauty industry. This industry has seen its profits halved over the last year thanks to social distancing restrictions that have prevented salons, spas and makeup counters from opening their doors. Luckily for the beauty industry, these places will be able to reopen from the 12th of April and it is expected that there will be a surge in keen customers who have been waiting well over a year for their regular treatments. If you have a passion for all things beauty and have always dreamed of owning your own business, why not make the most of the current open doors and invest in a beauty franchise? This article will tell you exactly why beauty franchises are a great opportunity in 2021.
Low minimum investment
Starting a new business can seem like a risk, but this risk is always eased if the price of starting can be kept small. Many beauty franchises can be bought for a fairly low fee compared to other types of franchise.
Beauty Call is a successful wedding hair and makeup franchise that asks for just £6,255 as an initial investment. The low cost does not mean that the business itself will bring in low profits. In fact, many low-cost franchises have the potential to bring in 6 figure annual earnings. The cost of investment is based on the amount of money needed to set the business up, which could include training, products and equipment and also the fee of renting premises. Mobile beauty franchises are often the lowest cost because they don’t require the rental of a building, a low cost doesn’t mean low profit potential, it just means lower start-up fees.
Pre-established brand name
It is a well-known fact that consumers are drawn towards well-known brands that they can trust, and the beauty industry is no exception to this. Products that are branded will fly off of the shelves and salons with big names attached to them will always reel in the most customers. This makes it hard for small start-ups to make a good name for themselves and to stand out against the larger, trusted brands in the industry. By joining a franchise, you have the opportunity to join a pre-established brand that is recognisable and already has a loyal customer base waiting for a new salon to try.
The best example of this is Toni & Guy. This hairdressing salon is world-renowned with 500 salons located in almost 50 countries around the globe! The brand also has its own range of products that are stocked in popular drugstores and were labelled as the official hair products of London fashion week. Toni & Guy has a strong reputation, so customers will automatically trust any salon that is associated with the brand. You can own a Toni & Guy salon for a minimum investment of just £20,000 with which you are buying into a brand that is guaranteed to be a success.
To run a successful beauty business, all staff must be equipped with the best skills and knowledge of the services so that customers can leave with exactly what they came in for. It can be difficult ensuring that all staff perform to the same level and that the methods used within your business are consistent to build up a good brand reputation. Staff training can be expensive, especially in the beauty industry when training equipment and practice models are often involved! For someone just dipping their toes into the world of owning a beauty business, this expense can be overwhelming and training may sometimes be cut short due to lack of funds.
When you join a beauty franchise, full staff training is often included in the minimum investment fee that you pay. The franchise will have a pre-established training process that has been proven to work and will ensure that all staff can work to the same high standard. Franchises will have requirements for all staff to meet and will be able to guide you through hiring the correct people, maintaining the best working standards and knowing how to correct staff who may not be working to the required standard. To work in the beauty industry requires a high level of skill and franchises will know exactly how to train people up to this.
Knowing that the staff in your business are all equipped with extensive, professional training will take away much of the stress that can come with opening a beauty franchise and will ensure that your business is a success.
At Franchise UK, we have a range of great beauty franchises available for you to join today! Our team of franchising experts are on hand to answer any questions that you may have and to help you find the perfect franchise opportunity.