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The health, beauty and wellness industry has grown to over $10 billion in India. The wellness segment is the fastest growing with evolution in technology and service delivery and contributes over 40% to the industry. What role is franchise biz model playi...
Beauty and Wellness is a young industry in India which has grown rapidly from its unstructured format of the mid-1990s to become a complete ecosystem. The growth trend is set to continue with focus on service specialization and differentiation. The sector for the longest time was dominated by local salons and beauty parlors in the wellness space, and a handful of gyms such as Gold’s Gym, Talwalkars, etc. in the fitness space were present in the premium markets across the country.
Franchising has played a vital role in the growth of this market. The franchisable aspect of the industry with their multiple investments formats cater to different segments of the society. Investors recognize the demand for these services as since ancient times Indians have been practicing the similar services. The industry claims that an average Indian male visits a wellness centre once in every 26 days and an average Indian female once in 40 days. Brands have increased their marketing focus to entice the new-age woman to become their franchise partners, as they relate to these services better. Franchise India alone has created 15 out of the top 20 wellness chains in India, which together boast over 5,000 centres across the country, and the market has just penetrated 25% of the country. As most of the country is moving towards an organized way of doing business, these numbers are only going to increase.
Wellness players in the mature markets across the country are looking to create a niche for themselves within the industry. The focus areas are on specialized services, high-quality service delivery, and user experience. For example, we have recently launched a brand which focuses only on aloevera and red wine-based treatments, and boasts over 200+ aloevera-based products.
Seeing the market growth and modern customer needs, some traditional household brands with a few age-old traditions are relaunching themselves to remain relevant in the market. For example, Franchise India has relaunched India’s oldest Ayurveda brand (150-year-old) in a modern avatar, which will bring its centuries of experience and 500+ products to the length and breadth of the country.
It’s only a matter of time we see multiple franchising brands within the wellness space expand and penetrate their services to the smallest corners of the country.