Denver, Colo. (September 15, 2022) – The last two years demonstrated the resilience and staying power of the beauty and wellness industry.
In 2020, WellBiz Brands had a normal first quarter before the pandemic forced a complete shutdown in Q2. By Q3, however, a steady recovery had begun.
The following year told a very different story. WellBiz Brands closed out 2021 with nearly $500 million in systemwide sales and two new brands – Drybar® and Radiant Waxingä – in its portfolio.
WellBiz Brands’ rapid recovery mirrored what was happening in the beauty and personal care industry at large. In 2021, sales increased by 16% in the beauty and personal care categories and wiped out all of the beauty and wellness industry’s 2020 losses, according to NPD Group, which tracks the U.S. retail landscape across 15 industries.
The global self-care industry is worth $564 billion.
What happened? While people were staying home, they rediscovered the value of self-care. From 2019 to 2020, GoogleÒ Search trends showed a 250% increase in searches related to self-care.
By 2022, 88% of Americans reported practicing self-care, and one-third said they have increased self-care behavior over the past year, according to ASD Marketweek. While people were spending more time at home – working, studying, meditating – they also realized how much they missed the little luxuries that made them feel confident and beautiful.
How people shop may have been forever changed by the pandemic; the Census Bureau’s Annual Retail Trade Survey reports that e-commerce sales increased by 43% in 2020, but that left many brick-and-mortar stores struggling. Many people sought comfort during the pandemic by shopping online for loungewear – yoga pants, anyone? – groceries and even toilet paper, and having it all delivered to their home.
On the other hand, beauty and wellness franchises are doing well, because they offer services that are “Amazon-proof.” Even the most experienced online shoppers can’t add a blow-out, an eyebrow wax or a massage to their cart and order it to be dropped off on their doorstep.
Personal services such as hair care, lash extensions, waxing and massages require personal contact with a skilled and, in many cases, a licensed service provider. That’s why WellBiz Brands portfolio franchises are growing at a record pace.
Join A Growth Industry
The future is bright for owners of franchises in the beauty and personal care industry, which is expected to continue to grow at a brisk pace of at least 4% CAGR, according to Reportlinker.com.
WellBiz Brands is the pre-eminent beauty and wellness franchise platform. All five franchises in the WellBiz Brands portfolio – Amazing Lash Studio®, Drybar®, Elements Massage®, Fitness Together® and Radiant Waxingä – are part of the same booming industry and cater to the same affluent female consumer.
The WellBiz Brands portfolio franchises also have very similar ownership profiles. Like many franchises, they are designed to be scalable so owners can grow their businesses as multi-unit owners. As a bonus, WellBiz Brands portfolio franchises also share a number of common systems, including a proprietary technology platform and cross-brand digital marketing program for membership acquisition. That makes WellBiz Brands franchises particularly conducive to multi-brand ownership.
To learn more about WellBiz Brands’ multi-unit multi-brand ownership opportunities, visit https://wellbizbrands.com/franchise-opportunities/
Disclaimer: ©2022 WellBiz Brands, Inc. (“WBB”). Each franchisee location of a WBB portfolio brand is independently owned and operated. Franchise owners (or their designated hiring managers) are solely responsible for all employment and personnel decisions and matters regarding their independently owned and operated locations, including hiring, direction, training, supervision, discipline, discharge, compensation and termination of employment. WBB is not involved in, and is not responsible for, employment and personnel matters and decisions made by any franchise owner. All individuals hired by franchise owners’ studios are their employees, not those of WBB. Benefits vary by independently owned and operated studios. Amazing Lash Studio®, Elements Massage®, Fitness Together®, Radiant Waxing™ + designs are trademarks owned by each of their respected company or their affiliates. Drybar® + design are registered trademarks owned by Helen of Troy Limited and used by DB Franchise, LLC under license.