If you are a fitness instructor, an esthetician, a dog groomer, or a home healthcare provider, 2023 was a good year, and 2024 is looking to be even better. Here’s our Business Outlook for the Personal Services Franchise Sector.
January 2024 consumer confidence hit a 2-year high, according to the Conference Board Consumer Confidence Index. Increased consumer confidence translates to higher consumer discretionary spending for services such as Beauty and Health and Wellness.
The US population is older today than it has ever been based on research by the Population Research Bureau (PRB). An aging population presents the Personal Services industry with many avenues for growth including specialized Health and Wellness, Therapy, and Home Care services.
January 2024 consumer confidence hit a 2-year high, according to the Conference Board Consumer Confidence Index. Increased consumer confidence translates to higher consumer discretionary spending for services such as Beauty and Health and Wellness.
Whether you are a dog trainer, a fitness instructor, a life coach, or a massage and bodywork professional, your customer’s expectation is that you are trained and credentialed. In many states, Personal Service providers are required to be licensed and certified.
Brand success and resiliency require a consistent and high-quality level of service. In a service business where quality and consistency are dependent on a human being (and not a machine!), having systems and processes
that maintain quality standards and support rapid growth are essential to brand success.
Consumers want to feel that they are priority number 1! This is especially true if a Personal Service is being provided. Unfortunately, too often consumers complain that they are on the receiving end of a service that feels formulaic and devoid of human connection.
Mobile-First: Having a fully functional mobile app is not just a requirement for any professional that offers on the go services, it also provides utility to brick and mortar businesses. Mobile first applications are much easier for franchisees to learn and offer flexibility to manage all aspects of the business from anywhere at any time.
Online booking: In order to maximize profitability of a service based business, it is essential to maximize the amount of time spent serving customers. More bookings also directly correlates to increased income.
Recurring revenue: Marketing technologies can accelerate customer acquisition and provide opportunities to increase revenues from existing customers. With a choice of many social media platforms to promote their services and products, businesses need the ability to track leads through their operating system and measure the quality of marketing spend.
Text based communication: Quick and effective communication is essential to attracting and retaining customers, and the clear preference today is for text based communication. In Q4 of 2023, 95% of consumers on PocketSuite chose to receive their notifications via text instead of email.
Marketing automation and lead management: Marketing technologies can accelerate customer acquisition and provide opportunities to increase revenues from existing customers. With a choice of many social media platforms to promote their services and products, businesses need the ability to track leads through their operating system and measure the quality of marketing spend.
Business insight: The data that is native to a unified operating system provides the business owner with actionable insights to improve operational efficiency and a better understanding of customer needs. As a franchisor, this business insight provides valuable intelligence into the financial and operational health of your system, thereby providing opportunities to focus on what matters to the health of the brand.
