According to the recent economic news, it may seem like 2023 is not a good time to invest in a business. But, before you throw in the towel, it would be great to know that people have started businesses before during a crisis and succeeded. Even though inflation is soaring and the stocks are dwindling, you can still build a successful business if you work hard. So, if you have been thinking of investing in a body contouring business, now is the time. Keep reading to find out why you should.
Benefits You Will Enjoy If You Invest In Body Contouring Now
Starting a body contouring business now may seem difficult and risky. But if you start small and persist, you will reap big. Below are some benefits you will enjoy if you invest now.
1. You Will Be Set Up For Long Term Success
With a shortage in the labor supply and skyrocketing inflation, the economy is unstable. Worse still, economists warn of a looming recession. This means if you wait for things to get better to start a business, wait for a long time.
But if you start your body contouring business now, you will start small. Better yet, starting small is the best way to start because you will fully utilize the available resources. You will also offer exemplary services to the fewer clients you begin with as you work your way up.
2. Ready Market Due To High Demand For Body Contouring Procedures
Body contouring is a huge market that is waiting for investors. People had plenty of time to themselves during the pandemic. As a result, they are becoming more self-aware than before. This has led to a desire to change lifestyles to look and feel better.
Speaking of facts, the ISAPS reports that 1.7 million liposuction procedures were performed in 2018 alone.1 People are now looking for non-invasive or minimally invasive procedures to get rid of fat. To add to the demand, obesity is still on the rise and body contouring is one way to counter it.
3. There Is Plenty Of Space And Reduced Competition
43% of businesses temporarily closed due to covid 19 with about 1.8% of businesses closing down permanently.2 Other businesses that did not close reduced their employee count by up to 40%. While it sounds disheartening, this scenario presents plenty of opportunities for you.
The businesses that closed left a gap both in employment and workspace. If you need space, now is a great time to get a perfect storefront for your body contouring practice. Similarly, there are plenty of people looking for jobs and will be glad to work with you if you decide you need help.
Invest In A Body Contouring Business Now and Reap the Benefits
Setting up your business now means you will enjoy a ready market, lower competition, and long-term success. These are the perks of starting a business when the economy is low.
Links To Sources Used
Body contouring devices market report https://www.mordorintelligence.com/industry-reports/body-contouring-devices-market
Impact of covid 19 on small businesses https://www.pnas.org/doi/10.1073/pnas.2006991117#:~:text=Across%20the%20sample%2C%2041.3%25%20of,closed%20because%20of%20the%20pandemic.