Do you already own a fitness studio, hair salon, smoothie bar, or other health and wellness related franchise and want to stay in the industry to help others lead healthier lives? Maybe you’re simply looking to expand your existing franchise ownership with additional businesses.
Whatever the reason, if you have an interest in expanding your existing franchise portfolio with a franchise business model that has room to grow, multi-unit spa ownership in the health and wellness industry is a strong choice.
If you already own a franchise, you’re familiar with the value of utilizing an established franchise business model that works. Through your experience, you’ve seen that with enough hard work and dedication, opening a franchise without having to start a business plan from the ground up is more than possible with you at the helm. So why not replicate it?
We’ll explore the benefits of multi-unit franchise ownership more in our blog post.
Opportunities for Health and Wellness Franchise Growth
There is an enormous amount of opportunity for massage franchise growth within the booming health and wellness industry. Currently, there are ample opportunities to become a job creator in your community by offering health and wellness services with Hand & Stone.
What does the future for hold for health and wellness franchise ownership? Continuous growth is expected within the spa industry. A 2016 report by the International SPA Association (ISPA) shows the industry has grown steadily in the past 5 years.
Due to a 2.1% rise in the number of spa visits across the industry, spa revenue grew 5% between 2014 and 2015 from $15.5 billion to $16.3 billion. The annual ISPA report also shows that not only have spa visits increased, but the average revenue per spa visit increased by 2.9% from $88 in 2014 to $91 in 2015.
Benefits of Owning Multiple Franchises
There are multiple benefits to owning multiple franchises. Some franchisees who own several units liken their experience to having several children, in that they nurture each franchise location to ensure business is running smoothly.
Multi-unit franchisees own 53% of the United States’ more than 400,000 franchised units according to FRANdata. Some of the benefits include:
- Resources – As a multi-unit franchisee, you can get support, training, and guidance from your franchisor. Hand & Stone provides optimal support to franchisees through our Franchise Development Team. Franchisees also benefit from our time-tested resources.
- Peer support – When you’re the owner of multiple franchise locations as part of a franchise network, you have the luxury of being able to connect with other franchisees rather than working as a lone entrepreneur. Hand & Stone franchisees benefit greatly from the knowledge of fellow franchisees who reach out to each other for peer-to-peer advice.
- Replication of an established business model – If you’re a multi-unit franchisee, you can benefit from working with an established business model that works. If you open a franchise location once, you already have the winning formula to implement for the next location. Combined with franchisor and franchisee support, that’s a recipe for success!
- A pathway to grow a business – The more franchise units you have, the more visibility your brand gets in the local market. You may find that marketing your locations is easier when you have a higher number of units and thus increased brand awareness in the community.
- Gaining an ability to keep better employees – Promoting staff from within is easy when you have several franchise units. This can save you money on training while staff staying power can strengthen your business long-term.
- Saving money – If you’re a multi-unit franchise owner, you may get access to cost-saving opportunities like sharing your fixed costs over several locations or obtaining multi-unit loans when looking for financing.
With a solid investment in an expanding industry, what you need next are the available markets with potential for business growth. Hand & Stone Massage and Facial Spa is entering markets eligible for growth now with single and multi-unit franchising opportunities throughout the United States including brand new markets like Atlanta and Minneapolis – St. Paul.
Contact us to learn more about owning Hand & Stone Massage and Facial Spa franchise locations in your area!