Increasing health expenditure and disposable income will support industry growth.
New York, NY (PRWEB) December 26, 2014
The improving economic environment and increasing visibility of massage franchises are expected to encourage growth in the Massage Franchises industry, over the five years to 2014. While the majority of massage therapists are sole proprietors, the popularity of massage franchises has increased over the past decade. “While IBISWorld expects this trend to continue in the five years to 2019, sole proprietors are expected to maintain their dominance in the industry,” according to IBISWorld Industry Analyst James Crompton. Consequently, during the five years to 2014, industry revenue is expected to grow at an annualized rate of 12.9% to $2.7 billion, and includes growth of 5.2% in 2014.
The economic impact of the recession has tempered over the five years to 2014, and so consumers are more likely to pursue discretionary services like massages. IBISWorld estimates that per capita disposable income will also increase at an annualized rate of 1.0% over the period. Furthermore, consumers have increasingly recognized the health benefits of massages, as an estimated 43.0% of customers seek massages for health or medical reasons. “Franchises in the industry provide customers with easy access to massage services, and brands in the industry have been increasing their market penetration in the five years to 2014,” says Crompton. This trend is expected to continue through 2019, while industry profitability is anticipated to grow in the five years to 2019.
In the five years to 2019, industry revenue is expected to increase. The rapid growth experienced in the five years to 2014 is expected to taper as franchises enter the industry. IBISWorld also expects that sole proprietors will continue to compete aggressively against franchise operations. According to the American Massage Therapy Association, an estimated 69.0% of massage therapists are sole practitioners, and the dominance of nonemployers in the overall mass services industry is anticipated to continue over the five years through 2019. However, increasing health expenditure and declining unemployment are expected to support the industry's growth moving forward. In the five years to 2019, total health expenditure is expected to grow, while the national unemployment rate is expected to decline over the same period.
For more information, visit IBISWorld’s Massage Franchises in the US industry report page.
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IBISWorld industry Report Key Topics
This industry comprises franchise companies that provide massages to enhance physical function, aid healing and promote relaxation, often in private or group sessions. Reports in our Business Franchise collection focus solely on the operation of franchised outlets and exclude nonfranchise data. They show the complete number of franchise outlets, total franchise revenue and the average profit margin earned by franchisees. Our reports also highlight the largest franchisors by market share.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.