10 Promising Franchises for 2011
Ten years ago, the spa industry reported yearly revenues of around $5 billion. Now, according to the International Spa Association, annual revenues generated from spas total more than $15 billion. One reason for the boom is that an increasing number of men are frequenting spas. Stephen Smith, the founder of Planet Beach, operated health clubs and gyms for eight years before establishing Planet Beach in 1994. Based in New Orleans, the company now operates 340 franchise units in 38 states and 9 countries, and, according to a recent statement, the company "expects 2011 to be a promising year."