Changing lifestyle and growing purchasing power has given rise to a new necessity – the necessity of looking good, groomed. According to industry estimates the service industry is pegged at Rs 15,000- 16,000 crore. Moreover, beauty no longer remains confined to women. Men have become equally conscious. So aspiring entrepreneurs here is an opportunity to swoop in.
Business Basics
The business of beauty is no more limited to hair cuts and shaping eyebrows. There is increasing consumer awareness and expectation of products and services. Complemented by the rising income, consumers opt for fancy treatments and products.
There are scores of opportunities that you can choose from. Ranging from beauty parlours to training institutes for the same to product manufacturing or selling; all you need to do is think what suits you best.
Opportunities
When you have zeroed in on the beauty of business there are innumerable options available for you to choose from. Starting from a small beauty parlour or salon in your neighbourhood to taking up a franchise of a known name in the beauty industry like VLCC, Shahnaz Husain, Marico’s Kaya skin Clinic everything comes under the beauty domain.
New specialised services like eye massage, hair colouring and streaking etc are increasingly in demand. According to a study by ASSOCHAM Indian’s spend only $0.68 on branded cosmetics and salons but their average spend per visit to a parlour was found out to be around Rs 2,000. This clearly shows your chance to hit success.
The owner of a beauty parlour in Kalkaji, who did not wish to be named says, “Consumers have become experimental. Starting from hair spa to eye massage they like to try new services that we offer, especially the young customers. All you need to do is offer your services at a reasonable price.”
This is not a new format for the Indian market. Door to door services sell in the nation like hot cake. From sabzi wala to the milkman, all of have followed the same mantra to grab bucks. Service at the door-steps does not necessarily mean line salons, but the like of mobile spa priced at premium rates.
If you think it would be convenient for you to be a part of the organised sector in the beauty industry, try running a franchise. In a span of four to five years almost 20-25 per cent of the organised beauty sector is projected to be franchised.
If you have the know-how of services that are most popular in the beauty industry, you can always choose to be a trainer. Most people learn on-job and hence remain limited to the operational side of the skill required to be a beautician. Knowledge of types of skin, hair, their requirements, chemicals and herbs that are used in the beauty products is very important.
Initial Investment
Place, team, cosmetics and equipment are the main expenses that such a business incurs. So if you are starting a business at your home a major part of your expense is saved. All you need is beauty products and some equipment like hair dryers, ironing rods, massagers etc and some helping hands.
The break-even depends on the size of your business but in most cases it does not exceed two years.
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