Small Business Opportunity: Anti-Aging Spas Are Forever Young
In today's image conscious society, aging gracefully implies using various methods to stay forever young. Anti-aging spas offer an aging population a chance for rest, rejuvenation, and reversal of the signs of aging. According to the International Spa Association, the spa industry generates over $10 billion yearly. Spas offering the latest in age fighting procedures such as botox injections, chemical peels, and collagen injections, can expect a healthy business.
About.com Spa Guide, Anitra Brown recommends for those entering the business to realize “..there is a lot of anti-aging technology out there, and some of it works and some of it doesn't. The machines can be expensive, so research it to make sure you're buying something that is really effective. It helps to have a passion for skin care -- and enough training to know how to sort out the claims. It's important to believe in the services you're offering.”
If you have a great idea for serving the anti-aging market and are short on capital, consider the "$10,000 Boomer Business Plan Competition." Put your idea through the rigors of business planning to finalize the opportunity and gain access to small business financing.
Driving Force: An aging baby boomer society combined with powerful "stay young" imagery from the media creates this booming business. "Anti-aging products demand in the US will grow 11.1 percent annually through 2007, propelled by a stream of new and improved products that offer health and appearance enhancing benefits. Fastest gains are projected for memory improvement and sexual dysfunction/impotence products, while botulinum toxin and pharmaceutical active ingredients lead gains by chemical," as reported by The Freedonia Group Anti-Aging Report 2007.
Risks: The birth of any new industry brings about regulatory and legal risks. Just as fitness companies have been restricted in making specific claims around their business, the same level of ethics applies to the anti-aging business. The FDA regulates this industry and any entrepreneur considering this market would be wise to investigate the legal and regulatory aspects of the business and avoid false claims.
Resources:
World Congress on Anti-Aging Medicine
$10,000 Boomer Business Plan Competition
Small Business Opportunity: The Student Boom Helps College Admissions Consulting
Demographics don't lie. The Echo boom generation who grew up on boy bands and Britney Spears are entering college. The Baby Boom generation has changed society so too will the Echo kids with high expectations of a great career.
College admissions consultants help students target the best schools for their abilities and aspirations, review test scores, and provide application advice. Consultation charges range from $100 to $500 for an initial talk to a 3-hour college consultation.
College admissions consulting is not just for kids. With the adoption of a life-long learning mind-set by the adult population, college admissions is an important issue for professional and graduate programs. Further opportunities exist in the specialized area such as MBA admission consulting or medical school consulting.
Driving Force: Student-to-counselor ratio for all levels of public schools is at 485:1; the NACAC recommended ratio is 100:1. Add to the mix an all-time record college student population of 15 million, intense competition, and admission office budget cuts resulting in a hot market.
Risks: Acting in the best interest of the client and the college is a delicate balancing act for college admission consultants. With over 300 members, The Independent Educational Consultants Association (IECA) provides ethical guidance for consultants. IECA stresses "avoid actions which may give the appearance of an attempt to influence an admission placement."
Resources:
National Association for College Admission Counseling
IECA Principles of Good Practice
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