Grooming business is considered as one genuine recession-proof business, offering numerous business opportunities to interested entrepreneurs.
Men’s grooming industry, over a last few years, has been under constant innovations. Franchisors are constantly renovating their products and services, trying to stand upon the customer’s expectation. Grooming products and services are being introduced more than ever, looking good for a longer run.
What is fascinating about this segment is its in-built diversification. Hairdressing sector is becoming very popular among men, who are willing to spend more for obtaining their required service. Recent readings state that the male grooming isn’t slowing down.
According to a recently published TechSci Research report, “India Men’s Grooming Products Market Forecast and Opportunities, 2020”, the market for men’s grooming in India is anticipated to witness double-digit growth at a CAGR of over 17% through 2020.
Growth in per capita disposable income, rising urban middle-class population and the willingness of Indian men to adopt a grooming regimen are the key factors driving growth in the market. Due to increased distribution in small cities of the country, the market is registering high demand from tier II and tier III cities as well.
Youths getting attracted
Youths are one of the reasons why the male grooming industry is accelerating at such an astonishing pace. More men are opting for the grooming procedure, which will increase in near future. Modification in culture and media glorification can be considered as factors influencing this change.
So if you are willing to establish a hair salon business, perhaps this is the right time. The study reveals that more number of people will be marching towards these services, where salon entrepreneurs could play a handy role in fulfilling their requirements.
The rise in demand for male grooming products
Keeping the trend in mind, opportunities as an entrepreneur are endless. You can come up with male grooming products which can find their way to the shelves of stores and shops.
You can also establish your own online website, selling and delivering the products to your customer’s door. Ustraa is one such example, marking its presence in the male grooming industry.
This increase in demand has certainly helped the men grooming sector evolve, with many new trends still to invade.