For any business to flourish, it needs an effective business plan and opportunity. This article shares important notes on how an effective business plan can enhance a beauty spa.
The growth in the economy and globalization are really helping the beauty and grooming industry to escalate its market value in India. In 2012, the estimated value of this industry was INR 11,600 million whereas in 2017 it has reached an admirable mark of INR 26,494 million. On the other hand, the beauty products and cosmetic items sale reached an evaluation of INR 27.6 billion. The current growth is depicting a prospect of CAGR 12% every year for the next 5 years as per the report of FICCI. It might increase and contribute largely to the global value of the market considerably.
The elevated income of the urban individuals has largely contributed to the current market valuation of the beauty and wellness industry. People are really motivated to go to the nearest spa and groom themselves in order to look appreciably good and presentable. This is why opening a beauty spa will be an ideal option to tap the unlimited potential of this industry in India.
How to initiate beauty spa business plan
Before even indulging in opening a beauty spa, you need to check the competition first in your location. These type of grooming venues are blooming like weed everywhere. This is why the experts in this field suggest coming up with a unique approach that will let your business stand out in all aspects.
The best way to learn about the business is by going to various spa centres and availing their services. Find the striking factors and gaps in the service. This will aid in forming a proper approach for your beauty spa.
The next step is regarding the service you want to offer. As per the space available for your business venture, you need to decide what you are going to serve to the customers.
The next step will be tougher than the previous ones. Here you have to organize the entire infrastructure which will include equipments, interior decoration, staffing, products, etc. This is where the franchising option will be a great opportunity to avail. There are leading brands in this segment which will provide every necessary resource to come up with a full-fledged spa. Once you have decided where to start your business, you can scout for the brands to take up a franchise. Below are some brands that you can associate with for your beauty spa business.
This is a new Indian venture that started back in 2015. It has 12 franchised brands already and offering opportunities to extend the business. All you need is a 1000 square feet space and an investment ranging from INR 20 Lakh to INR 1 Crore based on your choices. The company will provide the interior decoration, furniture, online marketing, training for the staff, etc. Almost every support will be provided by the brand in any location in India.
Panache Salon and Academy Private Limited
This brand will provide apt insights to the franchisee to start a spa. You will need 1000 square feet of area and an investment of INR 50 Lakh to INR 1 Crore for a luxurious venue. The team will provide a complete service with proper establishment of the business in your selected location.
Charisma Beauty Style Wellness
Since 2000, this brand has been a prominent name in this industry. It owns a great platform developed over the years because of celebrity visits, grand events, and its excellent service. The required area for this brand can range as per your choice and investment (up to INR 2 Crore). This franchising option will offer a luxury venue for spa services.
This brand is offering franchise options in the capital. The amount of investment ranges up to INR 50 Lakh. You will need a space of 1500 square feet to start with. The management team will provide necessary support to develop the infrastructure.
Adara Vasudeva Vilasam
This is a century-old brand that offers Ayurvedic spa franchise anywhere in India. The cost of establishment of this brand is lesser than the luxury brands. You will need INR 20 Lakh to 30 Lakh to start the business. The brand will provide excellent guidance, staff training, etc.
Define your approach and choose a franchising brand likewise. Set your goal for a perfect beauty spa business planand start with proper promotional measures.