FOR IMMEDIATE RELEASE
DENVER, Colo. (March 14, 2023) – The demand for self-care companies from WellBiz Manufacturers, Inc., the pre-eminent magnificence and wellness franchise platform, is predicted to maintain its momentum because the business continues its surge in shopper demand in 2023 and past.
“This yr goes to supply important development for WellBiz Manufacturers,” stated CEO Jeremy Morgan. “We now have positioned ourselves strategically to capitalize on that development with our portfolio of manufacturers and the tendencies throughout the business. Following the pandemic, we noticed members return and demand for companies improve. Shoppers wish to deal with themselves with experiences targeted on their magnificence and wellness. Since then, the demand hasn’t slowed and is predicted to proceed.”
In 2020, WellBiz Manufacturers had a traditional first quarter earlier than the pandemic compelled a whole shutdown in Q2. By Q3, nonetheless, a gradual restoration had begun. The next yr advised a really completely different story. WellBiz Manufacturers closed out 2021 with almost $500 million in systemwide gross sales and two new manufacturers – Drybar and LunchboxWax® now often called Radiant Waxing™ – in its portfolio. And in 2022 the corporate recorded almost $600 million in systemwide gross sales.
All 5 franchise manufacturers within the WellBiz Manufacturers portfolio – Wonderful Lash Studio®, Drybar®, Radiant Waxing, Components Therapeutic massage® and Health Collectively® – are a part of the identical booming business and cater to the identical prosperous feminine shopper.
WellBiz Manufacturers’ speedy restoration mirrored what was occurring within the magnificence and private care business at massive.
Following the early shutdowns of the pandemic, the self-care business boomed again to life. Those that had been caught at house and unable to exit now put self-care as a precedence of their life and it doesn’t seem like altering.
Brandie Chapman wasn’t certain what to anticipate when she opened her first franchise in 2020, solely to be promptly shut down because the pandemic hit in her hometown of Coeur d’Alene, Idaho.
Regardless of the shutdown, enterprise has boomed, and Chapman is simply one of many franchisees of a WellBiz Manufacturers’ portfolio model who continues to profit from the surge. Most not too long ago, Chapman opened a Drybar store in August 2022. This yr, she hopes to open her first Wonderful Lash Studio location as her third model below the WellBiz Manufacturers portfolio and add one other location annually till she reaches six.
Whereas the monetary markets nonetheless really feel unsure on the daybreak of 2023, Chapman’s expertise isn’t distinctive. The self-care business franchise mannequin is surging and worthy of funding, in accordance with analysts and market experiences.
Final yr, the sweetness and private care market was valued at about $187 billion and anticipated to develop at a compound annual development fee (CAGR) of about 3% via 2027, in accordance with a market evaluation report from Statista®. The market’s largest phase, private care, was valued at about $40 billion in 2022.
“The Magnificence & Private Care market is flourishing and one of many quickest rising shopper markets,” in accordance with Statista analysts. “The primary motive for this robust development is the generational shift with younger shoppers getting into the market. On the similar time, this variation is bolstered by social media, internationality, and eCommerce, which have an enduring impact on shopping for conduct in relation to magnificence merchandise. Developments from everywhere in the world are spreading and altering the day by day magnificence and care routine.”
About WellBiz Manufacturers, Inc.:
WellBiz Manufacturers Inc. is the pre-eminent magnificence and wellness franchise platform catering to the wants of the prosperous feminine shopper. The WellBiz Manufacturers’ portfolio options class leaders together with Drybar®, Wonderful Lash Studio®, Radiant Waxing™, Components Therapeutic massage® and Health Collectively®. With an experience in digital advertising, the corporate developed a cross-brand digital advertising program that drives efficient member acquisition methods, making a world-class membership ecosystem. WellBiz One, a proprietary expertise platform, enhances studio operations for franchise house owners driving member engagement and retention. With in-house experience in provide chain administration, e-commerce and product innovation, WellBiz Manufacturers supplies its franchisees with a forefront of their industries. Backed by a administration crew with almost a century of mixed management expertise, WellBiz Manufacturers is the way forward for customer-centric, membership-based manufacturers. The corporate has obtained nationwide recognition on lists such because the Inc. 5000 Quickest Rising Firms, Entrepreneur’s Franchise 500 and Franchise Occasions Quick & Severe, amongst others. For extra data, go to WellBizBrands.com.