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Special Feature


The price of beauty


How much do we spend on the industry? Is it a prosperous sector for potential franchisees? Flora Neighbour investigates


B


eauty is in the eye of the beholder, or, in this case, the franchisee. The health and beauty sector is thriving. What with the industry seeing


record sales, more and more franchisors are recruiting businessmen and women to grow their brands. According to the UK Cosmetic & Perfumery Retailers Association, annual British beauty sales have topped the £4billion mark for the fi rst time ever in 2016, which makes the UK health and beauty market larger than that in France. So, whether it’s getting a trim, feeling fi t, or relaxing in the spa, looking after your yourself has never mattered more, and business is booming. It’s not just women who are spending thousands a year on products. Raconteur.net revealed that, across the beauty and skincare sector, exciting trends have continued to emerge. One such trend being the increase in popularity of male skincare, with UK sales of products aimed at men coming in at £96million a year. The health and beauty industry is at last being recognised by the government as a major contributor to the UK economy as spending on cosmetics


and personal care continues to rise. Take the ‘lipstick eff ect’ where, during a recession, women conversely spend more on cosmetics, lending a gloss (pun intended) to an economic downturn. And that’s not all. A survey by the National Hairdressers’ Federation revealed that while smaller hair and beauty businesses generate less than £250,000 in turnover – and most turn over less than £100,000 – together they contribute a massive £7billion to the UK economy and are the backbone of many high streets.


On top of this, numbers of consumers heading to the gym and working out are rapidly increasing. The 2016 State of the UK Fitness Industry Report revealed that the UK health and fi tness industry is continuing to grow. The UK has more clubs, more members and a greater market value than ever before. According to the study, the total market value of the fi tness sector is now estimated to be worth £4.4billion. With all of this in mind, Business Franchise caught up with three franchisees in the health, fi tness and beauty sectors. Here, they explain their reasons for joining the most attractive industry in franchising…


42 | BusinessFranchise.com | December/January 2017


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