Considering a business in the health and beauty sector? You’ll be looking for signs your investment is a healthy prospect. Transworld Business Advisors shines a light on the industry, in 2019.
Thinking about a good business venture, and it can be easy to overlook the healthy and beauty sector. Certain stereotypical impressions are often made about this industry. But you might be interested to discover it is, in fact, the UK’s third largest sector, when it comes to employment and economic contribution, according to recent reports.
Covering a variety of business opportunities, from personal care and maintenance, to cosmetics, dental care, hair, nails, skin care holistic treatments and spa treatments and everything in between, the industry is booming. Enhanced by consumers feeling more able to ‘treat themselves’, as well as the rise of the selfie-culture, which drives people to look their best at all times.
In July 2019, a new industry report, published by Oxford economics, shows the positive impact UK health and beauty businesses has on:
1. Employment: The beauty industry is the third largest employer in the UK, directly employing around 370,000 and supporting a further 220,000 people.
2. Economic impact: The direct contribution of the industry on the UK’s economy in 2018, was £14.2 billion.
3. Consumer spend: The value of the beauty industry in the UK is largely driven by consumer spending, which totalled £27.2 billion in 2018.
a. £8.7 billion of this was spent on personal enhancement products
b. £8.0 billion was spent on the huge range of beauty services.
These statistics offer insight into what is an exciting prospect for anyone buying into a healthy and beauty business. And it is an industry which looks set to grow year-on-year.
At Transworld Business Advisors, we have a number of businesses for sale right across the sector. Our advisors are happy to talk you through your options. So, don’t postpone your ambition, book your appointment and take steps toward healthy business ownership.