Wake up and shower using soap and shampoo, then shave, maybe apply some make up, use deodorant and head out the door.
Every channel, every billboard, every aisle at the supermarket is filled with products that help people look and feel their best. It’s an engrained part of society and we are all hooked.
Even when there was a significant strain on the American economy, sales for beauty products remained strong. It has become as necessary as food – people need it and people will find a way to get it, whether or not they can afford it.
Health and beauty is constantly evolving with new discoveries, new consumer concerns and an ever-growing fan base, which recently includes the male customer. Once mainly concerned with the female population, the beauty industry is recently targeting men, covering a better range and quantity of costumers compared to the past.
Beauty covers a wide variety of businesses including hair salons, spas, cosmetics, fragrance and the list goes on and on.
While heath focuses on exercise, weight loss, food, vitamins and numerous other markets.
The history of cosmetics reaches as far back as 6000 years. It’s a international practice that is varied and dependent on culture and can be recognized globally throughout history. From the red hot lipstick of the roaring twenties to the oil and honey practices of Ancient Greece, make up is a part of who we were and who we have become. Today, cosmetics are the leading online business in the professional beauty market.
With skin care products making up 31 per cent of the global cosmetic market.
Cosmetics are not secluded to make up but rather cover the care and upkeep of the entire body, including skincare, bathroom products and nails, for example. The cosmetic industry is estimated to reach 13.91 billion US dollars by 2016 in gross product. One of the most popular products in cosmetics is the anti-aging market.
The American Academy of Facial Plastic and Reconstructive Surgery targeted women between the ages of 45-60 to find out their thoughts on their personal process with aging and how they feel about the appearance of their face.
Women are mostly concerned with eliminated evidence that reveals their actual age.
According to the survey, 72 percent of the women had tried skin peels, 50 percent of them had had injections or fillers, and 15 percent of them had cosmetic facial surgery.
With an ever-aging population, it’s important to note that age bracket of consumers make up for a big percentage of the spending population and they are willing to pay for different procedures and products to help attain their goals.
The beauty industry continues to grow into a well-established online market. With technology making everything more accessible, beauty secrets and trends are being shared across the oceans and helping establish a global market. This access to a higher volume of interested customers makes the beauty industry a profitable consideration for franchisors.
Most franchises in this industry hold a well-recognized brand, allowing franchisors to become owners of an already trademarked product. Most businesses have become household names with a firm customer base who are loyal to the brand.
While on the other end, new and invigorating products are always being invented and added to the market, as well as services that are usually well received with such a huge and varied audience.
Health and Wellness products
With the internet being a part of everyday life, consumers have the power to educate themselves to a whole other level and their new obsession is healthy food. People have easier access to information and have chosen to dig into the food industry to help satisfy their personal needs.
This area has seen rapid growth in the last few years, especially in newly developed markets. Between gluten-free products and organic foods, this industry is hitting a lot of consumer’s specific needs and therefore increasing its worth.
With an aging population, a new target audience for this industry is people over 55 years of age. People are more concerned with maintaining their health at this age and are big buyers in the health and wellness market.
According to the US Census bureau there are approximately 76.4 million baby boomers throughout the States, making them a huge portion of the population.
With such a high percentage of people focused on the health food industry, a franchise in this field has an already well established fan base.
The U.S. was the largest “Better For You” market in North America with sales of $50.1 billion in 2010, accounting for 31.3 per cent of global value sales. According to Fresh Market café, a wellbranded healthy fast food franchise, today’s consumer is more interested in nutritional options. People are also interested in where their food came from and franchises are using these details to help gain more customers. Fresh Market café values having a smaller carbon footprint and makes that information accessible to their customers, for example.
The Weight Loss industry
Although people are concerned with their health, they are more obsessed with weight loss and a quick fix. People have a tendency to identify healthy choices with weight loss and are willing to pay to get the results they are looking for.
According to the Centers for Disease Control and Prevention more than one third (78.6 million) people in the US are overweight. While in 1992, the US Food and Drug Administration stated that Americans spent an estimated $33 billion a year on diet programs and product, with a constant increase.
Franchises in this field can include services that help achieve change in weight and overall health, which include meal plans, pills, vitamins and nutritionists. For example. There are also clinics that focus on weight loss and lifestyle change.
The trend of aerobics in the 1980s helped establish exercise as a business opportunity. Fitness centers offer classes, treadmills, pools and trainers for a monthly cost, rather than having people dish out hefty amounts to purchase their own equipment. By 2015, 41 million Americans are members of a health club and with the obesity rate rising since the 80s, exercise and gyms need to remain accessible to most of the population.
This industry has recently gained a higher age range of members, from teenagers to seniors, since everyone is concerned with their health. As the audience broadens, so does the amenities within the centers, like kid minding areas, which allow businesses to become more appealing to a large sector.
Health and Beauty is all American. From lipstick to heavy weights, from deodorant to weight loss pills, Health and Beauty is a variety field that reaches people on a global level. All products and services are always evolving and will continue to remain a well-established industry in the lives of Americans.
About the author : After receiving an English Degree, followed by a Journalism Diploma, Gina became a freelance journalist in 2008. She has worked as a reporter and in communications, focusing on social media. She currently works as a community information officer with Epilepsy Society, while pursuing her writing career at the same time.