Princess Beauty and Spa, a 20-year-old beauty-centre chain based in Thailand, seeks business opportunities overseas as it believes there is more room to grow this segment abroad than at home. Spa tourism is one of the largest sectors of the whole medical, health and wellness spectrum, which some argue easily dwarfs surgical tourism in numbers, spend and profitability.
Princess Beauty and Spa, a 20-year-old beauty-centre chain based in Thailand, seeks business opportunities overseas as it believes there is more room to grow this segment abroad than at home.
Spa tourism is one of the largest sectors of the whole medical, health and wellness spectrum, which some argue easily dwarfs surgical tourism in numbers, spend and profitability.
Company president Kanokporn Khematae-chit said recently that several European entrepreneurs have expressed interest in franchising arrangements that would take the spa’s services overseas. Talks are taking place, and she is very confident that several contracts will be concluded next year.
The company does not want to invest by itself, as it believes it can expand the number of its centres more rapidly by franchising. It has sold one overseas franchise to a business in Laos. Princess Beauty and Spa franchises will cover 150 square metres, smaller than the average size of between 400sqm and 500sqm for company-owned centres.
Another possible business model is the co-invested firm. Princess Beauty and Spa has already co-invested with the five-star hotel Westin in Bangladesh to operate a spa service. It has the opportunity to operate other spas in Westin hotels around the world. The company has also invested in the Princess Wellness Spa in a six-star hotel in the Ratchaprasong area of Bangkok, to open early next year.
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