The rising cases of hair loss among youth are generating huge demand for hair restoration franchises
There’s a famous saying about hair, which goes like this: “Invest in your hair, It’s the crown you never take off.” Everybody wants beautiful, lustrous hair to flaunt, as it’s an instant confidence booster. However, people from every age group are facing hair fall-related problems. Even celebrities like HarshaBhogle, Salman Khan, Saurav Ganguly, Kapil Sharma, Virender Sehwag and many more have undergone the procedure of hair transplant. This has not only boosted the confidence of common people to opt for hair restoration as a safe procedure and spurred the demand but has also created a lucrative avenue for entrepreneurs who want to start a business.
Restoring Hair as well as Profits
Hair fall and baldness have become common problems in today’s time. In India earlier most of the population was used to accepting baldness as a natural phenomenon because baldness used to occur to people who were between 40 and 60 years old.
Increase in stress, improper lifestyle, pollution, and hormonal imbalance has led to the onset of balding at a young age, both for men and women. According to a report, 80 per cent of hair restoration clients are between 20 and 40 years of age. The problem is growing and so is the demand to fix it.
Not so long ago, folks used to refrain from undergoing any hair treatment processes, as many were misled by quacks and also due to the lack of availability of international standards of quality in hair regrowth products or state-of-the-art technology for procedures. However, owing to increased awareness, higher disposable incomes and international exposure, people are becoming more conscious about their appearance and are willing to spend good money to look and feel good. Thus, the current generation does not shy away from choosing medical aid for maintaining their youthful features. This is what has caused a surge in the growth of hair restoration franchises.
The rising cases of head hair baldness among the youth are generating huge demand for hair restoration franchises. According to the industry, a hair restoration clinic receives an average of 30 enquires per day and does 3-4 hair transplants, mostly those of men. It is also believed that the demand for hair restoration comes from the urban population, and one couldn’t be more off track.
People from tier II cities, as well as rural areas, are increasingly opting for hair restoration treatment, irrespective of economic strata. In fact, foreigners from across the globe come to India for more affordable hair restoration. The average cost for hair restoration ranges from 2-5 Lakhs in other countries, whereas in India it is significantly cheaper, merely costing around 50k-1 lakhs. Thus, hair restoration franchises have the opportunity to not only attract Indian but international clients as well.
Grow your Chances of Success with Franchising
The future looks exceptionally promising for hair restoration clinics, as the market is growing by 20 to 25 per cent year-on-year. In fact, if reports are to be believed, there is a 76 per cent jump in the volume of hair restoration procedures worldwide.
The chances of success in hair restoration market increases by opting for a franchising model. It enables you to enjoy the share of profit pie with less investment & risks.
The initial investment required for a hair restoration franchise starts from INR 20 lakhs and can range up to INR 60 lakhs, depending upon the brand name. The area requirement on an average ranges from 500-700 sq. ft. with an anticipated return on investment of about 15-20% within the payback period of 1-2 years.