Overall Waxing Trends
Since 2000 we've seen a widespread growth in waxing as an industry. By looking at Google Search data we can see that 'Waxing Near Me" is a breakout search term and has grown significantly.
Growth in Individual Waxing Salons
As another interesting statistic we've seen a boom with individually owned waxing salons, growing at a faster pace than chains and multi-staff waxing salons.
The data tells us that individually owned waxing salons are growing at a faster pace than chain or staff based waxing salons. Additionally, there are more individually owned waxing salons being established. Since more are being established at a faster rate this is a good sign of industry growth. However, with rapid growth puts more importance to starting your business before the market is potentially too saturated.
Retail Sales in Waxing Salons
According to Statista the purchases of personal care products are still predominantly in-store. These establishments consist of retail locations, salons, spa, and any location with a physical presence. Although e-commerce has seen a lot of growth during the pandemic it is still a very small percentage of total retail sales, roughly only 13%.
As you can see the growth in e-commerce has risen, but not to the rise you may have expected. As a waxing salon owner this is to your advantage, as you can sell complimentary products to clients who are positioned to buy. In both individually owned and staff based waxing businesses we are seeing great growth meaning retailing is a key part of the business structure.
Building your Waxing Business
Now that you know the opportunity in starting a waxing salon we will go through the main categories of running your new business.
For simplicity we've made three categories.
- Running the Business (Operations & Budget)
- Attracting Clients (Marketing)
- Retailing Products (Increasing Revenue)
The Cost to Start a Waxing Business
Selecting your Location
One of the first steps in your business journey is finding a location that suits your plan. However, before this step you should establish your vision for the business and ask yourself questions.
- Are you going solo?
- Can you operate from your house?
- How many clients can you see in a day?
A Franchise or Retail Waxing Location Costs
|LOW END||HIGH END|
|Furniture & Equipment||$12,000||$30,000|
|Insurance and Permits||$2,000||$5,000|
|Grand Opening Advertising||$0||$10,000|
At Home Waxing Location Costs
|LOW END||HIGH END|
|Subscriptions (accounting, booking, etc)||$50||$150|
Software to Run Your Waxing Business
Running a business requires you to be organized. There are a few critical software tools that make running a waxing business more reasonable.
Types of Softwares to Consider:
- Social Media (IE. Instagram, TikTok) as it is a great tool for getting new clients and communicating with them.
- A booking software, as it allows you to spend more time waxing and less time dealing with booking issues.
- An account software, as it helps you stay organized with your bills and invoices.
How to Attract Clients to your Waxing Business
If you are considering starting your own business you must feel there is a demand. In the past years waxing has grown and there is certainly demand. It's common for a professional waxer to move on from a larger chain to run their own business. This is an exciting risk, but a hard one to manage if you've never run a business.
In most businesses the hardest challenge is finding enough paying customers. If you are moving over from another salon you may have loyal customers who follow.
Some additional ways to attract more clients:
- Create your Google Business Profile as this is a way for locals to organically find your waxing salon. Being available on the internet is a key way to get discovered.
- Create your own Instagram page for your waxing business and post regularly.
- Consider the exterior signage of your location, as a key way to drive more foot traffic.
Sell Retail Products to Grow Revenue
If you want to grow your business revenue you can do so by doing more waxes, of increasing the revenue per wax. In business school they refer to this as increasing your Average Order Value (AOV).
In simple terms if you sell a wax for $50 your average order value will be exactly that. However, if you sell a retail product to each client you could increase your average order value to $70. Over thousands of waxes this additional revenue adds up significantly.
The Math - 1000 waxes X $20 = An Additional $20k in Revenue
Recommended Products to Retail
- Since you are already doing waxing you should invest in top quality post-waxing oil.
- As an upsell to your services you could also offer vajacial products.
- Additionally, standard skincare and body care products could be great additions as well.
Ready to start your own waxing business?
We hope this has given you some insights into starting your very own waxing salon business. This is a big commitment, but so many are running their own businesses successful. If you have any questions don't hesitate to contact our team. We work with independent waxing salons on a daily basis to supply them with top quality bikini line skincare products.