Clara Fernandas, Author at Magazine Max

William Shakespeare has said that beauty lies in the eyes of the beholder. Maybe it is true but beauty still has its own value even today. The fact that Lillian Betancourt of L’Oreal had a net worth of more than $44 billion in September 2017 it’s a resounding testimony to the relevance of the beauty industry. It is supported by a lot of facts and figures! The beauty market A woman, on average, spends more than $3750 on different beauty services and about $225,000 over her average lifetime on skincare alone. The global beauty industry is worth more than half a trillion and it is expected to reach more than $700 billion by 2025. The spa and beauty market was valued at $128.59 billion in 2017 and it is expected to reach quite close to $200 billion in 2024. Overall, 1.2 million professionals render their services in this industry belonging to different streams of discipline like stylists, hairdressers, and cosmetologists. The newest trend is that about 70% of these professionals have started to market themselves through mobile apps. The on-demand business model When Uber introduced the concept of booking cabs using a mobile app by bringing in the GPS and a personal profile and by leveraging online payments, they changed the way services were offered and the way service industries looked at consumers! This has extended to almost every service industry and beauty is not an exception. How does this work? The skeleton of function remains the same across all on-demand services and the Uber for beauty is not an exception. A user can download the app and create a profile. They can search for specific beauty services and the beauticians who offer that service in the locality will be displayed. Based on the profile, the experience, and the star ratings of the beautician/stylist, they can request them to come to their homes and they can avail of the service right within the confines of their homes. There are different business models even within the on-demand beauty services app segment. If you already have a reputable brand name and business in the segment, you can launch your own mobile app and you can mobilize your team of beauticians and stylists based on the requests that you receive on the mobile app. Basically, your mobile app functions as an extension of your already existing brick-and-mortar business. If you are an entrepreneur who would like to start your own business, you can become an aggregator and follow the Uber model as it is. You can launch your own on-demand spa and salon service app or a beautician on-demand app where independent technicians can sign up with your app to provide their services. Your app will act as an intermediary between the person who requests the service and the technicians who require a gig. The avenues for monetization A business model is never complete without the avenues of monetization and the same holds true with the Uber for beauty segment of apps. If you have your own brand’s mobile app, you can make revenue by either enabling ads within your app or by integrating e-commerce. With the e-commerce platform, the app users can purchase beauty products right from your app, and you can even cross-sell products because of the services that you offer. A lot of mobile app platforms like Google offer a facility to host ads within your app. Based on either the number of clicks or the number of times an ad is shown, the app owner can make the revenue. For the aggregator, the ad and the e-commerce revenue still remain. However, they have additional spaces to monetize. For every gig that they facilitate through the app for the freelancer, they can earn a commission. The commission can be levied as a percentage of the total cost of the gig. They can also bring in featured listings where a freelancer/beautician can pay the platform, so they are listed on the top of search results irrespective of their rating and experience. While this serves to increase the exposure for the beautician, it can also make a wonderful revenue platform for the app. Features Of The Uber for Beauty App As you may have known, Uber for beauty has three distinct apps, one for the user, one for the beautician/salon, and the other for the administrator. The User App The user should be able to easily sign up by using their email address or phone number or existing credentials. The registration should create a profile that stores information on their addresses, the payment methods, the preferred services, and the history of all the services availed. They should be able to book a beautician without much hassle in simple steps. The app should be integrated with the payment gateway that can accept multiple payment instruments. They should be able to communicate with the stylist/beautician over chat or call. They should be able to submit reviews and ratings for the service that they have availed. The Service Provider App The beauty salon or the beautician are provided with similar apps. They should also be able to sign up for providing their services but with an additional step of verification of credentials. They should be able to manage the catalog of services offered along with a calendar of appointments. They should have the freedom to accept or decline requests from users. The payments made through the app should be credited to their accounts in the shortest possible time. They should also be able to read users based on their behavior and professional conduct. The Admin Panel The administrator should be provided with a dashboard that gives them an overview of all the important stats about the app including but not limited to the total number of active requests, the number of active beauticians, and the revenue generated. They should have control over the content of the app, the commercial elements, and the marketing channels. They should be able to suspend or disable users and beauticians based on their behavior and feedback. The admin is also responsible for fulfillment of payment and for customer support. Overall, they are responsible for the smooth functioning of the app. Conclusion Now that you are aware of the market and the opportunities, and the various business models, all that is left for you to do is to get in touch with a company that can give you the technical capabilities to launch your own app. With the marketing and operations in place, and with the easy availability of technology, especially through white label solutions, you are all set to launch your own On-demand beauty application and capitalize on the market that has huge growth potential!

Clara Fernandas

Uber For Beauty – Your Next Big Idea to Grow in...