High-potential health and beauty businesses to start in 2021
If you’re looking to start a profitable health or beauty business this year, consider the changing needs of consumers. We identified trends that emerged in 2020 and are here to stay.
Businesses that can sell online and offer multiple delivery methods will win. Pair that approach with product ideas that are in high demand:
Personal care products like hand soap and sanitizer
Beauty technology like albania mobile database massage guns, smart mirrors, and makeup refrigerators
? Quick start tip: Spin up a beauty business by considering reselling or white label. For more on these models, consult our guide to starting a makeup line.
Subscription businesses
subscription business statistics
The numbers: 63% of founders who sold subscriptions were satisfied with business performance, compared to 55% of founders who did not sell subscriptions. We identified two subscription models commonly used by businesses that thrived in 2020:
Replenishment model: subscribers receive the same or similar products each cycle.
Membership model: subscribers have access to exclusive products or perks.
Why these businesses thrived
In our consumer trends research, we found that buyers were more likely to shop from businesses that offered convenience through online purchasing options and multiple choices for delivery or pickup. Subscriptions offer an easy way for customers to receive the products they frequently buy without having to make multiple trips to stores—and risk exposure.
Even early in the pandemic, it was reported that subscription box businesses were experiencing a surge. Many replaced a lack of connection to activities that brought joy with delight delivered regularly to doorsteps.