7 Trends To Watch In The Beauty And Wellness Space In 2020
One of the few sectors that has maintained a high growth rate recently, despite a recession in the global economy, is the beauty and wellness sector. According to one estimate, the sector in India was worth more than Rs. 80,000 crores in 2018. Numerous reasons in India have helped this business succeed and grow. Among them are:
- middle class’s rising purchasing power
- changing consumer mindset
- greater selection of unisex brands
- brand recognition has grown in tier II and tier III with the arrival of global beauty brands in India
While the beauty business attributes its expansion to elements like brand recognition and consumer trends, the wellness sector is enjoying a boom in development as a result of increased attention to both physical and psychological well-being. As a result, there are an increasing number of salons, fitness centres, slimming clinics, and beauty clinics offering cosmetic operations all throughout India.
The prominence of e-commerce websites has also increased sales of over-the-counter cosmetic items. Despite the fact that the sector as a whole is expanding at a remarkable rate, a number of developments are anticipated to lead to fantastic business and job prospects in 2020.
Seven Wellness And Beauty Trends To Watch In 2020 Health-Tech:
- Holistic Skincare
- Yoga Studio
- Gym Franchise Business Chance
- Makeup Artist for Salon
Here are 7 trends to pay attention to if you’re seeking for company ideas in India’s beauty and wellness sector:
The expansion of the health-tech sector is a result of technological advancement, greater internet usage, and growing public awareness of the need to improve one’s health. Health technology, often known as health-tech, is a method for raising quality of life by deftly fusing knowledge and technology.
Entrepreneurs should explore the following concepts in the upcoming year: online pharmacies, personalized health management applications, at-home healthcare services, medical equipment, and wearable health technology like watches. If you have any background or expertise in the tech industry, that would be beneficial.
In the past few years, seasonal beauty trends have taken up like wildfire, but more women — and men — are also considering skincare more seriously. The holistic skincare market will expand in 2020, bringing the proverb “beauty is just skin deep” back into fashion. You might devise a plan to launch your skincare business or invest in a franchise if you have a preference for holistic skincare and lifestyle. Examples of well-known brands with an emphasis on natural beauty procedures include Blossom Kochhar’s Aroma Magic business and its franchising prospects. Other business prospects to take into account are:
- establishing a skin care centre
- using natural and organic components to make items
- essential oil sales
- sauna and steam room services
- retreat for wellness or Ayurveda
Ayurveda integrates the knowledge of many centuries to assist you in enhancing your physical, mental, and emotional well-being. If you possess a piece of real estate and are seeking for inspiration in the health and wellness space, you can think about converting to an Ayurvedic wellness resort. Over through the period of a few days, a retreat centre provides its clients with holistic wellness treatments. You may employ Ayurveda professionals and specialists to design specialised courses and organise them for individuals, groups, or businesses. Offering Ayurveda-licensed services like oil massages, meditation, detoxification, and rejuvenation, among others, might fall under this category. As an alternative, you might collaborate with well-known companies in the industry and provide their services in your area.
If you are knowledgeable about yoga or have experience with it, you might want to think about starting a yoga centre. Yoga is still important in the modern world because it provides both mental and physical advantages, such as helping people lose weight and reduce stress. There is little question that any firm in this industry will expand in the future, especially with the government actively supporting yoga across the world.
Choose a great site, work with professionals, and advertise your yoga business effectively. Yogahut franchise might benefit you if you’re seeking for a low-risk business concept for a yoga studio. The franchisor you choose will assist you in starting your business and provide you with beneficial networking and marketing possibilities.
Gym Franchise Business Opportunity
Numerous health issues brought on by our sedentary lifestyle have led to an increase in the number of individuals using the gym to gain muscle and reduce weight. The once-exclusive domain of young males wanting to bulk up, gyms now serve as unisex wellness centres. Urban, suburban, and metro residents all intentionally include working out at the gym into their daily routines.
You may either open your own gym or contact bigger, more well-known firms to request a franchise unit. Even though Gold’s Gym is among the most well-known brands in the sector, opening a franchise costs money. Consider the Fit Club or the Powerhouse Gym chain for more economical choices.
The urge to seem flawless on social networks has caused the salon industry to grow—and grow it has! Both men and women frequently go to salons for services including cosmetics, hair care, skincare, and rejuvenation. The success of several neighbourhood salons and parlours around the nation is evidence of the market’s need, and experts in the field predict that it will increase by 15-20% over the next few years. We advise concentrating on one distinctive service, such as nail art, hair care, or skin advice, if you’re entering this market.
But starting a new salon business from scratch may be expensive and time-consuming. You may always inquire about opening a franchise outlet at salons like the Looks Unisex Salon, Affinity Salon franchise, Lakme Salon, VLCC Salon, or Ash & Niell Unisex Salon.
For many Indian women, wearing makeup has evolved into a way of life. With easier access to luxury products and more financial freedom, many women now like to routinely use the services of skilled makeup artists and experts. Even though the business is heavily dependent on the buying habits of women, males do wear cosmetics, especially for important occasions like their weddings or other festivities. The beauty industry offers a wide range of prospects if you possess a strong interest in cosmetics. The following directions are worth pursuing in the upcoming year:
- establishing a facility to produce cosmetics
- establishing a cosmetics studio and providing specialty makeup
- opening a shop selling cosmetics and makeup
- education and training in makeup
- makeup vendor
Contrary to the common wisdom, spending money on health and beauty is no longer a luxury. As a result, business people and entrepreneurs have a golden opportunity to capitalise on the market and prosper. There’s never been a better moment to start working for yourself as an entrepreneur in India’s beauty and wellness sector.
While having some past experience or knowledge of industry trends would be beneficial, it is not a must for success. Many company owners get their start with franchise possibilities in the beauty and wellness sector before starting their own operations.
There are numerous reasons to think about opening a franchise, but the main one is that you will immediately have access to popular items and a committed client base. Please fill out this form to contact us if you have any questions regarding franchising possibilities in India’s health and beauty sectors.