Sometimes, the beauty business gets a bad reputation for being shallow, but is it really? Think about what happens when we have a great hair day, or our makeup game is on point, and we’re feeling fabulous in the outfit we’re wearing—we walk taller, stand straighter, and speak with a little more confidence in ourselves.
That confidence may be appearance-inspired, but it comes from within.
What if, as an entrepreneur, you could build a beauty business that consistently instills such confidence in your clients? What if bringing such satisfaction to clients each day boosts your stylists’ empowerment in themselves and their talents? How rewarding would owning such a beauty salon business be?
Let’s look at the beauty industry and consider if an investment in a beauty store business might go more than skin deep.
Why Open a Beauty Business?
The beauty and personal care market is projected in 2024 to reach $646.2 billion worldwide.
The United States leads this revenue generation projection, coming in at $100 billion.
In 2023, the growth of the beauty and cosmetics industry in the U.S. was expected to grow at 10%—more than 3x the rate of regular retail’s 2.9%—due to what experts call “the lipstick effect.” The lipstick effect states that when the economy gets tight, consumers become fiercely loyal to their favorite indulgences, such as cosmetics or beauty products and services.
These “affordable luxuries” are part of people’s self-care routines and aren’t something they’re willing to give up, even temporarily, if they don’t have to.
Keeping these luxuries at relatively affordable prices is the key. If a product or service is deemed too expensive, such as an expensive cut-and-color routine at the hair salon, it may get downgraded to just a cut, with the client deciding to do their color at home.
The more niche the business ideas in the beauty industry are, the more indispensable they become during the lipstick effect.
The Psychology Behind Beauty and Confidence
One reason people may be reluctant to give up their favorite beauty products or services is the boost in confidence they achieve when they feel great about how they look.
Confident people are more inclined to speak up during professional and social situations. When we feel good about ourselves, we’re more likely to be open when meeting new people or voicing ideas. While not necessarily risk-taking behaviors, these actions will give us greater chances of getting noticed at work or with potential friends and even future romantic partners.
Psychologically speaking, humans use how we look to form first impressions about each other. We’re influenced by facial symmetry, vocal inflection, emotional state, and overall attractiveness. Confidence helps us favorably manage others’ impressions of us, which can help in situations like job opportunities, social interactions, and everyday circumstances like workplace interactions. Confidence is how we gain credibility with others.
Appearance is something we can control, influencing confidence and self-esteem. While beauty doesn’t impact our ability to think critically, problem solve, or perform skills, feeling good about oneself can help us feel competent and in control, which lends to greater confidence.
Then, there’s the halo effect that lends more credence to a person’s competence or abilities because our initial impression of them is tied to their attractiveness. People with more pleasing features tend to be perceived as more capable, interesting, and more professionally competent than their less attractive counterparts, whether or not they’ve earned those attributes.
How a Beauty Business Empowers Clients and Stylists Alike
Investing in a beauty business for sale helps people tap into their confidence so clients look and feel their best. It’s a chance to inspire and empower clients through self-care.
A little pampering goes a long way, so not only do they leave your beauty business feeling well-cared for, but they can also feel inspired by the changes and upkeep to their appearance. With the right know-how and product purchases, they can duplicate the confident feeling a beautiful new look inspires. These additional purchases are added revenue streams for your business to help you thrive.
Keeping pricing accessible means even the most budget-conscious client can feel good about frequenting your beauty business and giving their grooming regimen the attention it deserves.
Own a Fantastic Sams Franchise and Make Beauty Accessible to Everyone
At Fantastic Sams, we’ve spent over 50 years cultivating this kind of beauty business. We’ve perfected the art of giving our clients the right amount of luxury and affordability so they feel great without overspending. Our clients leave our beauty business franchises feeling like a million bucks.
But we’ve extended that feeling to our stylists and franchise owners as well. Who doesn’t want to feel fantastic about the career they’ve chosen? We’re offering rewarding investments that allow our franchisees to take ownership of their futures and build not only their confidence but also that of their stylists and clients.
Our franchise owners have everything necessary to run a smooth beauty business with each Fantastic Sams franchise location. From the moment an investor signs a franchise agreement, we provide:
- Invaluable insights on choosing and building out a site location
- Help with facilitating supplier relationships
- Comprehensive training for smooth daily operations
- Technology tools that make operations run seamlessly
- Marketing assistance for spreading the word about the new locations
- Ongoing support and field visits to ensure continued growth of the new Fantastic Sams beauty business
If you have a passion for empowering people and love to bring forward the beauty within, operating your own Fantastic Sams location may be the opportunity you’ve been waiting for! Contact us today to learn how to get started!