Being fit and healthy and looking good are things that will always remain important to people, which is why the health and beauty industry is always a good bet to get involved in. Fortunately for Canadians who are looking to open a business in this industry, franchising offers many opportunities.
Encompassing gyms, salons, cosmetics, spas, alternative health centres and beyond, the health and beauty industry is wide ranging and always expanding.
Overweight Canadians Not Dropping
The health and beauty industry isn’t the only thing expanding in Canada. According to Statistics Canada, Canadians themselves are expanding, too. The number of overweight and obese men in Canada in 2014 was nearly 62% (about 8.2 million) while just over 46% of women (6.1 million) were classified as either obese or overweight.
To fight the fat, many people flock to gyms and fitness centres, meaning now is a perfect time to get into the health and fitness industry.
IBISWorld’s Gym, Health & Fitness Clubs market research report for Canada pegs the industry at $3 billion annual revenue with 4.1% growth between 2012 and 2017. Over 6,300 businesses in the industry employ over 54,700 people.
Helping the industry grow, as reported by the Fitness Industry Council of Canada, is the continuing trend among physicians to actually prescribe exercise to patients rather than just suggest it. Having a written prescription telling them to exercise often prompts patients to go and join a gym. Once they actually realize the health benefits of exercising, they often stick with it.
Even if you live in an area that has gyms already, you might be able to fill a niche market like a women-only gym, a 24-hour gym or a children’s fitness centre.
Aging Population
Although the trend of obesity in Canada might slow down and could conceivably reverse some day, one thing that will never reverse is more and more people growing to an advanced age. With healthcare constantly improving, people are living longer.
In 2016, people aged 65 and older made up nearly 28% of the population. That’s a whole bunch of people who are either going to need or currently need increased health services over the next few decades. It means having a steady customer base as people continue to age and live longer.
Alternative Health Care
As the population ages, not everyone will be looking for traditional healthcare. Alternative or complementary healthcare like acupuncture, massage therapy, aromatherapy, chiropractic services, reflexology, yoga, physiotherapy and other similar healthcare practices are also on the rise.
In 2016, British Columbia’s Fraser Institute found in its ongoing series of studies Complementary and Alternative Medicine: Use and Public Attitudes 1997, 2006, and 2016 that 79% of Canadians had used at least one complementary or alternative therapy sometime in their lives.
Massage was the most common type of alternative therapy in 2016 that Canadians used over their lifetimes with 44% of people having tried it. That was followed by chiropractic care at 42%, yoga at 27%, relaxation techniques at 25% and acupuncture at 22%.
Beauty Always Important
Next to health, beauty is always at the top of people’s minds. And it’s not just for women anymore. Men’s grooming products — ranging from face lotion to actual makeup for men — have made inroads into the beauty industry as people’s perception of male grooming continues to evolve.
Looking good never goes out of style and the beauty industry is relatively recession proof. Even when times are tough and people have to skimp on other things, they like to look and feel good (plus, they also have to look presentable for job hunting).
In addition to hair salons and spas, the beauty industry includes barber shops, cosmetics, skin care, hair removal, nail salons, tanning salons and much more.
Industry Canada reports there are 15,635 beauty salons right across Canada and the Canadian Cosmetic Toiletry and Fragrance Association (CCTFA) reports that beauty in Canada is a $9.5 billion industry and is steadily growing by 0.7% per year.
Unlike the United States and Europe, Canada has less saturation in the beauty market, meaning there is plenty of room for beauty salons, cosmetologists and hairstylists to get a slice of the pie in Canada.
Franchising
All of these different types of health and beauty businesses have franchising opportunities. Whether you want to open your own salon and cater to kids, open a children’s fitness centre or try your hand at a massage parlour, you can find a franchising opportunity that caters to your business interests.
FranNet can help you research and connect with the ideal health and beauty franchise in Canada and get you on your way to fantastic franchising in no time. Sign up for a free FranNet franchise search and consultation today.