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The Indian health and beauty market is in a transition phase of getting organised. We check out on franchise benefactor of this sector where some of the renowned brands talk about diversification and the opportunity ahead, as this industry is anticipating
HEALTH is wealth is passé. It's time to find wealth in health. Health and beauty industry are witnessing a swift transition from being unorganised to organised and thus opportunities galore for potential franchisors and franchisees. The gap between the organised and unorganised industry is huge. However, of late the growth in the organised sectors of health, wellness and beauty industry has witnessed an unprecedented growth and has outwit the growth of unorganised industry, indicating lucrative opportunities in franchising. Our current issue focus is an essential resource for entrepreneurs, existing and potential in the business of health and beauty. In the ensuing pages of this issue focus, we will take you through a detailed study on health and beauty brands that have widened their services and product portfolio and an en route to diversification.
Major contribution for health and beauty industry getting organisesd is due to conscious consumers, who care about looking young, indulging in better eating habits, maintaining a fitness regime etc.
What better than getting all these benefits under one roof? Therefore, franchisors have also shaped their business accordingly. Now, the franchisee avails the benefits of offering multiple services under the same banner. Also, the best part about taking franchise in this industry is that one does not need to do any cooking and just have to garnish his business.
Diversification has become mandatory for majority of franchisors in health and beauty industry because extending extra services besides its niche is the latest fad.
Melange of services, benefits, franchisees
“Money and mind can do wonders for a franchisee in beauty industry,” feels Jawed Habib. This statement holds true for all potential franchisees in health and beauty industry. When asked about diversifying into varied services from their core services? Majority of the renowned bands like Lakme, Jawed Habib, Naturals, Dr Lal PathLabs, Shahnaz Husain and others had a similar belief. They all were of the opinion that franchised centres offering varied services under the same belt is the need of the hour. Most of the brands are keen to expand and the best way to do it is via franchising.
A phenomenal growth rate of 200-300 per cent is anticipated for this sector in the next 5-10 years. According to a recent report, 60 per cent of the market is unorganised and highly segmented with several small and regional players. To fill the gap, there is a need of quality and uniform health and wellness services combined with increasing health and wellness awareness. Franchising in this industry is an apt way to grow because franchising incorporates one robust process, which includes a balance among all the service variables viz training, support and regular audits. Salons and diagnostic centres are expected to have the highest growth rate in the next two years.