Why A Franchise?
Our economy runs on franchising! The Canadian Franchise Industry generates $96 Billion every year. Over 1.8 million Canadians, approximately 1 out of every 10 working Canadians, are directly or indirectly employed by the franchise industry. Canada’s Franchise industry has enjoyed consistently steady growth in the past five years, and is expected to grow by another 3% in 2018 in BC alone. On average, new franchise businesses experience higher success rates than individual startups because of their proven business models and loyal brand recognition.
Why a Wax Bar Franchise
The Wax Bar is a quickly emerging popular Franchise to invest in. The concept is fairly new which means there is a large market to cater to, with less competition than that of a food and beverage franchise, and it’s based on built-in repeat business (hair grows back)! According to research from IBISWorld, the personal waxing and salon industry grew an average of 7.6 percent annually between 2010 and 2015. The value of the global hair removal market amounted to 880.2 million dollars in 2017 and is expected to rise to about 1.35 billion U.S. dollars by 2022 which is a 9% Compound Annual Growth Rate.