While starting a new venture, list of advice by no means comes your way which are exhaustive also at times. However, here is some insight over beauty franchise which you must consider before giving birth to your own idea.
Franchising is the ideal model for anyone who is thinking of starting their own venture but is unsure about the direction to take. With strong brand and support network, the franchisors of high-end brands offer best learning for those who want to start their own venture while working as a regular employee with big MNCs or high paying jobs.
Why franchising first?
Often, entrepreneurs who are unsure about dipping their toes into the most uncertain waters of self-employment, end up making crazy mistakes which cost them big in terms of loss of capital, trust or off beam publicity. And, when you’re planning to crawl into the beauty industry, it is mandatory to not lose the trust of consumers.
Henceforth, it is advisable to take franchise of a reliable beauty brand (as the market is flooded with multiple choices) and choose wisely. The right franchisor provides a level of support, and promotional activity that is perfect for people from a wide variety of backgrounds.
Whom to shortlist?
Franchise packages should provide excellent earnings potential and allow the opportunity to hit the ground running with support packages like a comprehensive ISO9001-accredited induction training courses. In fact, in certain cases, franchisees may also get benefited from flexible working hours and a scalable business model, offering expansion into a multi-van operation.
Significantly, there are numerous advantages of choosing beauty franchise as a business opportunity. Here is a list:
1. Beauty is in demand of all and so is the need and demand of products required in the trade. Projected to rise to $51.8 billion in 2020, the cosmetics and beauty products’ industry was scored $46.2 billion in 2015, which is a sign that the industry has huge potential to unleash.
2. Create multiple retail outlets so you can deliver products to untouched areas also. Beauty and cosmetics franchise helps in delivering products at multiple locations.
3. Cosmetics franchise not only set a good image in customers market, but it also increases sales and customers in more specific areas.
4. It’s a business with low investment and in return gives open opportunity to offer freedom and makes you independent and self reliant. For instance, you take franchise of a herbal or Ayurveda products brand and place yourself in an strategic location, this may help you skip all the investments required for promotions and marketing and help you gain limelight without much effort.
5. Beauty is one of the most feasible businesses that can be run by females successfully.
6. Adequate guidance and necessary guidelines required for running a beauty or cosmetic franchise are easily available in comparison with other industries.
7. It is easier to sell or offer already tried and tested cosmetics than educating people about a new brand or product.
In 2015, Indian beauty and personal care sales continued to be dominated by international players such as Hindustan Unilever, Colgate-Palmolive India, Reckitt Benckiser (India) and Gillette India. Almost all of these players have diverse product portfolios catering to the mass consumer segment with good distribution networks in place.
Domestic players like Dabur India, Godrej Consumer Products and Patanjali Ayurved appealed to regional needs and trends among Indian consumers by launching new products during 2015 and managed to perform well through their franchising.