The nail salon industry is booming all around the globe. One of the easier industries to enter into, opening your own nail salon can be one of the best decisions you ever make. In the US alone, the salon and spa industry are worth over $57-billion, and even though the industry is facing a few challenges at the moment due to the worldwide pandemic we are facing, it remains a good investment going forward.
Regardless of the economic situation, history has shown that clients view their salons and spas as sanctuaries, and are willing to make other sacrifices to continue making use of these services. They can be a refuge in a crazy world, and provide a much-needed respite from the hustle and bustle of everyday life.
Another reason women continue to support their favourite beauty and nail salons, even in tough times, is that almost all of them are operated and staffed by women, which encourages women empowerment. This is especially true in Africa, where most other businesses are traditionally owned by men, and where women business owners don’t always have the same support their male counterparts enjoy.
Many well-respected publications have documented the recent rise of female entrepreneurs, notably Forbes, Harvard Business Review, the European Economic Review and Thrive Global.
Forbes notes that women are often more willing than men to challenge their current reality, re-evaluate their mindset, and make a commitment to finding their passion. In the US, women entrepreneurs have grown by over 30% since 2007, and that figure is rising. Not only are these women growing their own wealth, but are creating jobs for other women.
Harvard Business Review says that women-owned businesses account for 37% of enterprises across the globe. In a survey conducted on only 67 of the 188 countries recognised by the World Bank, the Global Entrepreneurship Monitor found that 126 million were starting or running businesses, and 98 million were running established businesses for more than three and a half years – almost a quarter of a billion women making a positive impact on the global economy.
In a paper published in the European Economic Review, researchers found that there is a relationship between personal wealth and the propensity to start a new business in the female demographic. Thrive Global found that female entrepreneurs tend to contribute a higher percentage of their earnings to organizations and funds that develop communities and benefit others, especially humanitarian and environmental efforts.
Deciding on what kind of business to start can be daunting, however. Even once a decision has been made as to the industry or business type, it can still be a monumental challenge to try and go it alone.
Deciding to purchase a franchise is a choice that makes a lot of sense – the franchising industry worldwide is huge, and very successful. In South Africa, one of the most successful franchises in the nail and beauty industry is Tammy Taylor Nails. Founded in the USA by Tammy Taylor herself, and brought to South Africa by the founder of Tammy Taylor Nails SA, Melany Viljoen, this franchise group is well-respected in the beauty industry.
Not only does it offer prospective franchisees the distinction of owning a luxury salon, but being part of this franchise group means that each salon owner has access to a wealth of experience, support, training and expertise to help ensure that her business is successful.
Supporting female entrepreneurs is paramount at Tammy Taylor Nails, and the nail and beauty industry is one that is well-suited to women who want to be in business for themselves, follow their passion, and be able to draw on the support of an experienced team when needed.
Visit our official website now for more info.