The last couple of years have challenged traditional notions of how and where we work, and as we emerge from the fog of COVID, smaller business and entrepreneurs are looking for more flexible options that don’t cost the earth.
Shared workspaces are increasingly becoming a normal part of post-COVID life for small businesses, especially as inflation begins to bite.
A 2020 Global Coworking Growth Report says coworking is growing at about 21% a year, and estimates the number of coworking spaces globally is projected to reach 40,000 with around five million people working this way by 2024. Australia and New Zealand alone were already home to about 660 shared workspaces in 2020, it says.
One sector already benefitting from this trend is lifestyle professionals, particularly with the arrival of the Phenix Salon Suites® franchise to New Zealand’s shores. Phenix Salon Suites® offers hair stylists and barbers, massage therapist, chiropractors, tattoo, lash and nail artists and other similar professions a new way to set up shop and market themselves to beauty and wellness consumers and in a high quality co-working space with their own dedicated office.
According to StatsNZ there were more than 5,000 hairdressing and beauty service businesses in New Zealand in 2021. And the sector appears to be in good health: in 2020 the health and beauty industry saw a 20% increase in the number of domestic online transactions compared to the year before. The spend within this sector also increased, with a 10% rise in the same period.
Founded in 2007 by American celebrity hairstylist Gina Rivera, Phenix Salon Suites® offers franchisors unique knowledge and systems to establish successful salon suite locations, including an excellent understanding of real estate and 60% lower operating costs than restaurants.
Its unique real estate co-working model requires only one part-time employee. Already operating in more than 300 locations and in five countries, the opportunity to invest in this fast growing franchise is now available to Kiwis.
It’s also a great opportunity for entrepreneurs. For lifestyle professionals wanting to strike out on their own, one advantage is the lower overheads associated with the suites, which provides all the necessary salon equipment and business software as well.
Stewart Germann, owner of the country’s longest established franchise specialists The Franchise Coach, says the current trend towards coworking is a fantastic opportunity for the right investors.
“New Zealand is home to thousands of lifestyle and beauty professionals and is ripe for disruption with the coworking model. Phenix Salon Suites® provides a spa-like setting for lifestyle entrepreneurs to own and operate a business at the fraction of the cost of traditional salon settings,” he said.
To find out more about Phenix Salon Suites® and opportunities for investors, contact The Franchise Coach Stewart Germann today at 021 276 9898 or at stewart@thefranchisecoach.co.nz.
