Marilyn Monroe Spas’ Multiple Revenue Streams: Beauty, Massage, and Retail
There is a common misconception that the beauty industry is geared toward the wealthy and vain. This is simply not true! The beauty industry is resistant to recession, and even fared well during the great recession in 2008; now that worldwide economies are stronger, beauty is thriving!
Investing in a Marilyn Monroe Spas franchise, or multiple franchises, is a smart way to capitalize on this industry. The salonand spa industry has a good rate of return, making it a good investment for business-minded people. Marilyn Monroe Spas capitalizes on the positivity of the beauty industry by maintaining multiple revenue streams, most notably, beauty services, massage, and retail products.
The first thing that comes to mind when you think of a salon are beauty services. Visions of haircuts, manicures, and facials immediately enter your mind, as you think of the beauty services that are the staples of salons.
At Marilyn Monroe Spas, we offer all these beauty staples, as well as a host of other services. Our comprehensive salon menu includes everything from waxing to speciality pedicures to eyelash extensions.
We have balanced our salon menu to include recurring services and special occasion services. Recurring services include things like haircuts, hair coloring, nail services or waxing; these are the services that require maintenance and upkeep, thereby creating return customers. Special occasion services include makeup artistry and more elaborate hair styles like up-dos. Special occasion beauty services are luxuries for many of our customers, who visit the spa less regularly. This balance of recurring services and special occasion services keeps our revenue streams flowing.
Massage is one of the fastest growing segments of salons and spas across the nation. The increasingly popular service had turned massage therapy into a $12.1 billion industry by 2015, and it is still growing. Massage has become an expectation in most high end salons and spas, and Marilyn Monroe Spas delivers.
Our massage options give our customers the variety they are looking for in a massage and brings in additional revenue for our spas.
Retail is the underrepresented revenue stream for salon and spa businesses. The sale of beauty products—covering everything from shampoo to nail polish to hand cream—makes up between 5 and 15 percent of salon revenue in spas nationwide. Additionally, gross margins are higher for retail products than they are for beauty or massage services.
All Marilyn Monroe Spas franchises sell our exclusive Marilyn Monroe beauty product line. Our line has been carefully crafted to provide superior products to our customers, all while being certified organic. Customers love knowing that they are using healthy products that are also good for the earth.
Even better, our products are never tested on animals. Marilyn Monroe Spas customers know that they can count on products from our line to support fair trade global farming and sustainable practices.
Before you invest in a business, you have to consider how that business makes money. Marilyn Monroe Spas franchises with multiple revenue streams are set up to draw in and keep customers. Learn more about investing in a Marilyn Monroe Spas franchise, and see how we support our franchise owners.