It may seem surreal, but Americans dropped a whopping $8.53 billion to do their nails in 2017. As the society places more emphasis on appearance, people are becoming increasingly conscious of their looks. Therefore, both men and women are going to these salons for a manicure, pedicure, and even nail enhancements.
As the workplace environment becomes more dynamic and flexible, people can rock all sorts of fancy and artistic nails without getting into trouble. The growing popularity of such services and a growing clientele makes buying a nail salon franchise a superb business idea.
Lower chances of failure
Despite the growing popularity, starting a nail salon remains a tricky business undertaking. Research indicates that most salons go out of business within two years.
If you have neither the resources nor the expertise to strike out on your own, you are better off buying a franchise. The franchisor will equip you with all the necessary tools and skills to help you launch a successful enterprise. Such an approach eliminates any trial and error that might leave you staring at an abject failure after losing a fortune.
Become part of a trusted brand
While the sector is indeed lucrative, the competition is normally cutthroat and it presents a big problem. As they have no traction on the market, upcoming businesses often turn to lower their prices to attract clients. On the other hand, established brands ask for premium prices that can be as high as $31 for a deluxe manicure.
A franchise lets you become part of a renowned and trusted brand, which means that you don’t have to start at the bottom. You’ll stand to reap the benefits of being part of a leading brand and this gives you an edge on the market.
If you're looking to join the lucrative nail salon industry, you stand a better chance of success by becoming a part of an established franchise brand. That way, you can benefit and ride the wave of success that comes with their good name.