With a projected global revenue of $190.81 billion for the year 2024, the spa and beauty salon industry has proven to offer the best opportunities for starting a thriving and flourishing business. Besides, the growing focus on self-care and beauty has also pushed the industry towards glorious success, allowing businesses to venture further and establish an impeccable revenue model. Despite all these, starting a new business or brand from scratch is not always the best option, especially when the proposed market has such fierce competition. Not only will you need to work on building the customer base all by yourself but also work on brand reputation and market penetration from scratch.
Owing to all these complications and hurdles, most entrepreneurs opt to work with a salon franchise model in India. Out of all the available business models, unisex salons provide the best opportunities to new players. While it might sound tempting, there are several concerns about the authenticity of such a business model or the high upfront unisex salon franchise cost, which if not clarified might lead to a wrong call from your end. With this being said, we have illustrated a few reasons why investing in a unisex salon franchise model will be best for your future business goals.
Access to a vast customer base
As the name implies, unisex refers to gender inclusivity, meaning catering to both men and women simultaneously under the same roof. You won’t have to set up different establishments specific to a particular gender. Rather, you can provide services to both men and women within the same infrastructure, thereby gaining entry to a wider customer base. Apart from this, you can target an all-age demographic, including children, teenagers, youth, and even the older generation. Hence, the potential customer base will be quite versatile and wider for a unisex salon model when compared to specific men’s or women’s salon and spa business structure.
Recurring revenue model
One of the many reasons to opt for such a business model is higher returns against the initial unisex salon franchise cost in India. Usually, unisex salons work on a recurring revenue model since the basic services, like grooming, styling, and haircuts are higher in demand and categorized as regular needs for the target audience. In other words, you will receive returning customers, which will further pave the way for recurring revenue streams. Apart from this, you can also tap into upselling opportunities by providing add-on beauty and spa services at your unisex salon, like facials, waxing, nail care, and many more. Since the franchise owner already has the revenue model planned out, you won’t have to worry about creating one from scratch. All you will have to do is customize the revenue model per your business location, target customer base, and overall investment goals.
Diversified business services
Investing in the unisex franchise model will give you access to diversified services. From offering basic haircuts to special VIP treatments, you can tap into a long list of versatile services, catering to the needs of both men and women. Besides, unisex salons are more equipped to adapt to new market trends or accommodate new services that are likely to be in high demand in the coming years. This way you will be able to expand your service list and attract more potential customers for higher revenue and more popularity.
Support from a proven business model
The biggest reason to invest in a unisex salon franchise model is the proven business model. Since the salon is already an established business with a pre-defined customer base, you won’t have to build the business model from scratch. rather, you will get the chance to use the reputed brand name for your business and access the customer base to kickstart the profit cycle and reduce the turnaround time. Besides, most franchisers extend support to the franchise businesses so that they can adapt to the market changes and add more value to the overall revenue stream. Whether it’s receiving training on specialized salon services or boosting the performance of a promotional campaign, you can seek support from your franchisor and avoid getting stuck in the bottlenecks.
Lower investment cost
The overall investment needed to start the business from scratch is indeed much higher than the projected unisex salon franchise cost in India. All you need to do is pay for the franchise cost, which can further be divided into location and infrastructure setup costs, equipment purchasing prices, and recruitment costs. There’s no need to spend money on business registration or other overheads associated with an entire new salon business. Besides, you can also seek financial help from your franchisor to purchase new equipment units or recruit skilled people during the initial months and pay off the same later on in small installments.
Conclusion
The above-mentioned five reasons do justify the growing demand for salon franchise opportunities in India. However, apart from these, you can also benefit from low-barrier market entry since the brand name is already an established one, along with reduced business risks. So, investing in the unisex salon franchise cost sounds more feasible than starting a business all by yourself from scratch.
