Sometimes we all need a little rest and recuperation - a little escape from the hectic world that grinds us down. And spas are the ideal place to indulge in a little well-deserved luxury.
Spas are places to let your hair down, chill out, and unwind - locations that feel calm as soon as you walk through the doors.
Spa franchises offer the best of both worlds, offering an established roster of treatments and services developed by experts who train you to deliver them.
Day spas offer massages and holistic therapies, facials and skin treatments, nail treatments, makeovers, as well as swimming pools, saunas, hot tubs, and steam rooms. But the luxury doesn't stop there - many spa franchises serve delicious and healthy (yet indulgent) food from in-house chefs, champagne from expert sommeliers, and fully stocked bars for the ultimate indulgent break.
Spa franchises cater to individuals and couples, as well as groups for bachelorette parties and celebrations.
So, if you're looking for an investment opportunity and a way to transform your working life, you should really consider how a spa franchise might turn your working life around. With an average industry growth of 24.4% between 2016-2021, spas are held dear to those who use them (and have missed them during the recent stay-home orders).
Franchising
Franchising is the common-sense approach to going into business for yourself, especially if you've never run your own company. Starting a new company is a hard slog - and the early years of operation can often be slow while you build your reputation from the ground up.
Franchising offers a ready-to-go business model with tried-and-tested services and an established client base. However, when you start up an independent business, it can take some time to precisely align with your customers' demands. At first, you often get the service offering wrong.
With a spa franchise, you inherit established treatments and services that customers already know and love.
Spa franchises come with an existing reputation and recognizable branding, so most franchisees find that their appointment book is full before they even open their doors. Spas are a luxury service, so reputation is key - offer a recognizable brand, and your customers come flooding in.
However, spa franchises come with more than just a reputation; they come with expertise. Most parent companies offer expert training to ensure that your spa maintains the brand's reputation, so you don't necessarily need a great deal of experience in the therapeutic field before you proceed with your new business venture.
In addition to world-class training, most parent companies provide a roster of HR functions to help ensure that your new company runs in compliance with business, financial, and employment regulations.
Facts About Spa Franchises
The average consumer spend in a good quality spa is $91, which is relatively high for the leisure sector.
The spa industry is worth $16.8 billion a year, with over five million spa visits per annum. This broad appeal suggests that spas are reaching wider audiences than the traditional "luxury" market might cater to.
Of course, it's folly to assume that the COVID-19 pandemic hasn't impacted the spa industry. But with necessity comes innovation, as many spas have adapted their service slates to include immunity-boosting- and low-touch treatments.
The pandemic has forced the average American to consider the importance of good health, and appropriate spa treatments are high on the list to help.
Low-touch therapies include:
- Cryotherapy facials - giving a cold shock to the skin for anti-inflammatory benefits.
- Infrared saunas - individual chambers, exposing the skin to healthy infrared light for better sleep, detoxing, and weight loss.
- Compression therapy - controlled pressure to increase the flow of blood to your limbs and heart.
- Floatation tanks - offering escape and solitude.
- Hyperbaric oxygen chambers - increasing the air pressure for greater oxygen ingestion.
- Salt caves (halotherapy) - a cozy environment, surrounded by Himalayan salt rocks, breathing in salt-infused air.
Of course, massage therapies are one of the most popular spa treatments. Although demand for massages has diminished throughout the pandemic, demand is expected to be extremely high once things have returned to normal.
While women remain the principal patrons of spas, the tide is turning. The International Spa Association states that in 2017, 49% of spa clients were male - up from 29% in 2005. Of course, that was pre-pandemic - but the trend shows no significant signs of diminishing, so spa franchises that adapt to the male market are projected to do well in the future.
Franchising Vs. Independent
Banks and moneylenders tend to consider franchises a lower financial risk than independent companies that start-up without the support of an established partner.
All new businesses require a financial injection to raise capital, and franchises are no different. For example, a spa franchise requires upward of $75,000, so most people need to approach their bank manager to request a startup loan.
And this is where the franchise model becomes a significant benefit. Franchise businesses can prove their market viability based on the parent company, evidencing the business model's sustainability, long-term profit, and growth. That puts franchise businesses at a distinct advantage compared to indies that approach moneylenders without a proven history of market viability or yield.
Unfortunately, almost half of all independent companies go into administration within the first three years of starting up - never recouping their initial investment and closing their doors due to insolvency. In addition, independent companies start their business lives without a reputation, so they need to slowly earn their customer base's respect and loyalty.
Franchise businesses, on the other hand, often hit the ground running. They start up with the instantly recognizable branding of their parent company, offering excellent curb appeal; a proven reputation of customer satisfaction; access to an established supply chain; and a customer base of clients who already know and love the brand.
Spa Franchises
Check out Franchise Direct's luxurious choice of excellent spa franchises, and help the American public unwind and replenish their energies while offering luxury services that clients simply love!
You can also check out many more Health & Beauty Franchises here on Franchise Direct, such as: