According to Point Franchise, beauty products sales in Britain are over ₤4 billion. These numbers and conclusions from other beauty market analysis indicate that this industry is on a steady rise and may stay on top for a while. With such great figures and the high demand of services in this sector, investing in the beauty market is certainly a no-brainer for anyone looking to start a successful business.

While starting your own beauty business is great, it comes with a lot of challenges.

The best way to see success fast in this industry is to buy into a beauty franchise. After all, franchises generally have a higher success rate than startups. This is partly because franchises operate under an established and proven business model, and if you’re lucky, the brand you join will already have clients and a huge following.

Like the many shades of foundation available or the nail polish colors you can explore, there are a variety of beauty franchises you can try out. For example, some beauty franchises have mobile beauticians to provide services in the customer’s home or work place, while others focus on providing vegan and cruelty-free beauty products. You can choose one that matches your passion and explore franchise opportunities in that sector if any are available.

Who Is It For?
Anyone can buy into a beauty franchise, but having a passion for the industry usually helps. It makes it easier to understand the products and services, and hence market them and run the business successfully. Unsurprisingly, most people who go into the beauty business are women, but men have also been known to invest in this sector too. It’s also good for someone who wants a more flexible work schedule or more free time to spend with family.

Who Is It Not For?
Investing in a franchise requires a significant monetary investment which can vary from ₤4,000 to ₤100,000, depending on the franchise you want to buy into. If you can’t afford that or you don’t have other means of getting the funds, you won’t be able to take this up as a side hustle.

How It Works?
The beauty market covers a lot of different franchises such as hairdressing, cosmetics, skincare, nail bars, and spa’s. If you’re passionate about any of these, you can do a little research to find franchise opportunities on any one of the above. However, investing in a franchise that offers all these services has the advantage of better earning potential resulting from the variety of services offered.

Once you’ve researched franchise opportunities, you can go through the application process outlined by the franchisor. Upon approval, you’ll likely have to go through training, deal with paperwork and legalities, along with financials like paying franchise fees before you open your doors. Your working hours will have to match those outlined by the franchisor since you’re essentially an extension of the brand. When you sign an agreement with a franchisor, you’ll also agree on the percentage profits you take once the business is running and what percentage goes to them.

What We Like?
The beauty sector is quite sensitive and its success relies on brand loyalty. Consumers need to connect with a brand and build confidence in it before they commit their daily routine to it and become loyal to the brand. By buying into a beauty franchise, you can skip all these steps in the middle and have a business that already has loyal customers, ready to buy from you.

What We Don’t Like?
Even though a franchise is generally a low-risk investment, it comes at a high cost, literally. The investment required can take up all of your savings or leave you with a mountain of debt. After that, it might take a while before you get a Return On Investment.

How Much Can You Make?
Your earning potential will vary according to the franchise you’ve invested in. In general, the higher the investment, the higher the return, especially if you follow the proven business model correctly. According to Franchise Supermarket, about 45% of franchises get a turnover of more than ₤500,000 per annum. The percentage profit you agreed upon with your franchisor will also influence how much you get.

Conclusion:
Investing in a beauty franchise offers a lot of opportunity and advantages, especially considering the money. Since the sector continues to be a key part of many everyday lives, you can count on it to always make a profit. If you’re interested in this side hustle, click on the links below to get more information on making beauty your business.

Pros:
Higher earning potential and less risky investment
Being part of an established brand will instill consumer’s confidence in your business
Flexible schedule
You get to own a business without a lot of the stress associated with a startup

Cons:
A lot of investment required
Your business is tied to your franchisor so there’s little to no room for creativity