One of the most exciting things an esthetician can do is to start their own business and go out on their own. Understanding how to start a waxing business and how to keep it healthy will help you get off to the right start and stay ahead of the competition. In this blog, we’ll provide an overview of how the waxing industry works, and what waxing entails, and we’ll discuss costs and share the keys to building a successful waxing business (no matter how big!). We’ll also give you tips on defining your brand, pricing your services, and the keys to successfully serving and getting repeat business.
1. Is waxing a profitable business?
Although starting a waxing business is not new, the industry continues to grow and gain momentum. According to IBISWorld.com, the number of independent salons and hair removal businesses in the United States will grow at an average rate of 3.1% from 2018 to 2023.
The organization expects independent business to grow steadily at 5.9% next year. Interest in hair removal shows no signs of slowing down, as more and more people seek out full-body hair removal and waxing services. According to market analysis by MarketWatch.com, the hair removal wax market is expected to grow to approximately US$10.5 billion by 2028.
Although starting a waxing business is not new, the industry continues to grow and gain momentum. According to IBISWorld.com, the waxing industry is currently worth over $600 million. The organization continues to forecast industry annual growth to stabilize at 7.0%. Many people are looking for full-body hair removal and waxing services, and interest in hair removal seems to be growing every day, which could lead to endless opportunities for business expansion.
According to market analysis by MarketWatch.com, the hair removal wax market is estimated to be worth US$7.8 billion in 2022 and is expected to grow to approximately US$10.5 billion by 2028. Waxing businesses facilitate hair removal through waxing services provided by licensed cosmetologists or cosmetologists who are trained in waxing hair removal.
Although women are the main players in body waxing salons, other genders are also getting in on the action. Today, more and more men are investing money and time in self-grooming, causing the “male enhancement” body waxing and male grooming industry to grow to $81.2 billion globally by 2024.
2. How much money can a wax business owner make?
When starting your own waxing business, you need to be realistic about how much money you will make, especially when you are just starting out. After making the initial investment, it may take some time for your business to start making money – all of which you must be prepared for.
By closely tracking your ROI and how much money is coming in and out of your business, you can ensure that you and your business are making enough money to keep your business comfortable and thriving. With this in mind, you may now be wondering “How much money can you make from waxing?”. It all comes down to how well you manage your business expenses and return on investment.
3. How do I know if a waxing business is right for me?
Starting a hair removal business is ideal for those who want to make money while improving the well-being, confidence, and beauty of others. Waxing business owners are passionate about the benefits of waxing for skin care and hair removal. Depending on the effort you put into your business, there is no limit to the potential you can achieve. You can start by learning how to start a waxing business from home and discover a whole new set of skills. No matter what kind of waxing business you want to start, whether you want to rent a chair or learn how to start a mobile waxing business, you can decide what’s right for you.
Hair removal salons are similar to other salon and spa business types, but the focus is primarily on hair removal services. As a certified waxer, one may schedule body treatments, wax clients, clean (a lot of cleaning), retail products, and interact with people throughout the day. Waxing business owners and/or managers perform esthetician and spa management duties such as supervising employees, delegating work, handling marketing duties, and ordering inventory and supplies.
4. What does it take to start a waxing business?
To start a successful waxing business, you need to budget for startup costs, you need to identify your target market, and you need a well-thought-out waxing business plan. Starting your own business isn’t easy, but if you prepare properly, you’ll be set up for success and be able to build your clients and business.
5. How much does it cost to start a waxing business?
The starting cost of a hair removal salon depends on the type of hair removal business you want to start. If you are a freelancer or mobile waxing business and cater to clients directly at their homes or businesses, your costs will be significantly different than someone who rents chairs or has multiple stations in a salon.
A waxing business of any size requires facilities to provide services, equipment, and supplies such as salon waxers, staff (even if it’s just you), insurance, tables, chairs, marketing, and a website (to name a few). The owner may be responsible for beauticians and spa management, but may also serve as a hair removal specialist, receptionist, and marketing specialist when the business is open. Still, as the business grows, more employees are needed. Ultimately, plan to spend thousands of dollars on hair removal equipment, supplies, tables, and chairs. Monthly rent will vary based on your location.
6. Who is my target market for my waxing business?
Although teenagers and people in their twenties and thirties are most interested in hair removal, many hair removal businesses would also be successful if they provided proper hair removal education to older generations. If you want to know who your target market is, then a certified waxer must research the demographics around the location where you want to do business and understand the waxing requirements needed to tailor your services to the needs of those people.
Since most clients require regular visits, your esthetician business plan should include the best products as well as the right waxing and customer service techniques – from your website to the front desk to turn your target audience into repeat customers.
7. How can I make money with my waxing business?
Building a waxing business involves making money by charging customers for products and services. The better your service is, the more marketing you invest in your business can determine your success.
Your services must be priced in a way that allows you to pay your overhead while making enough profit to stay afloat and plow back into your business. That’s why it’s important to purchase products in bulk or work with an Auperwel account manager who can help you determine your fees, buy the right products, and keep costs low as you grow. Your Waxing Business.
8. How to start a waxing business
If you want to learn how to start a waxing business, having a clear waxing business plan is the foundation for entrepreneurial success. Some important things to consider are:
- Legal and accounting matters
- Waxing company name
- What is my initial cost? For example, think about the initial cost of a salon wax warmer, accessories, rental fees, and salon wax supplies.
- What is my monthly budget (business and personal)?
- How much does the waxing service cost?
- What does my brand look like?
- How to grow your waxing business?
- How do I reach these customers?
- When will I break even?
1) What legal steps need to be taken to start a waxing business?
A large part of your business plan should include creating a legal business entity, such as an LLC, to prevent you from being personally liable for major problems that occur with your business. Opening a business bank account separates your personal assets from those of the company, which is necessary for personal asset protection. Before you open your business, you’ll need to register for various state and federal taxes.
Keeping records of all your expenses and sources of income is critical to understanding your business’s financial performance. Keeping accurate and detailed accounts will also benefit your annual tax return. It is highly recommended that all business owners purchase insurance. If you employ employees, workers’ compensation insurance may be a legal requirement in your state.
2) Waxing business name ideas
A waxing company name encapsulates everything about your business in the name (but without the pressure!). To get your creative juices flowing with a name, take a look at your style and whether you’re a solo esthete or own a large salon.
Consider your audience, salon atmosphere, and location of choice. Are you a “Kim Waxing” or a “Bare Affair Waxing Center”? Whichever name you choose, we recommend you check whether the business name you want is available as a web domain and secure it as early as possible to prevent others from using it. Your business name can be meaningful to you, but it must be easy to remember and easy to read (and write) for your customers.
3) Define your waxing business brand
Your brand is what your company represents and how your business is perceived by the public. A strong brand will help your business stand out from your competitors and create value for your customers. Figure out your colors, fonts, wording, and how your brand presents itself to customers.
4) How much should I charge my clients for hair removal?
When learning how to start a hair removal business, you need to know how much full-body hair removal costs in your area. Typically, it costs between $100 and $300. Eyebrow waxing usually costs between $15 and $30. Upper lip waxing costs between $7 and $20.
A Brazilian lower body wax typically costs $30 to $60. It’s important to understand that pricing will also vary based on location and expertise. The more customers know and trust your brand, the greater the demand for your services and the more time you will have to spend.
5) How to develop a waxing business
The quality of your business’s waxing services is critical and should be your certified waxer’s top priority. Your waxing business should provide results that last for at least weeks if not months, and should only use the highest quality waxing products. Aperwel offers different products to ensure your clients’ skin stays smooth and hair-free longer.
A thorough understanding of skin, hair growth cycles, and personal and business development means you’ll never stop learning. Having an inside knowledge of skin, hair removal techniques, and waxing products is essential. However, if you want to go beyond that, expand your knowledge of how to gain a deeper understanding of your customers’ needs.
Learn how to sell your retail products and yourself. All of these skills are critical to your success. The more you know about these things, the better you can make the best product choices for your clients’ hair and skin. Hands-on waxing training, followed by practice and more training (again, you should never stop learning!), is the key to developing your service, confidence, and retaining clients.
6) How to have a good waxing production line?
Knowing your product line is only part of having a successful waxing business and will ensure you are using only the best waxing products in your salon. Make sure to choose wax products and waxing salon supplies that are suitable for any skin or hair type or concern. Even if you don’t use Aperwel, don’t skimp on your supply of wax.
When starting your salon, you’ll need staple waxes and a few specialty waxes so you can keep costs down while building and catering to new clients. You’ll want to stock your salon with Aperwel’s flagship products Blue Film Hard Wax, Sensitive Skin Friendly Pink Film Hard Wax, and Star Soft Wax, which are ideal for clients who are particularly sensitive or prone to breakouts.
High-quality wax is easier to use, improves your service skills, and enhances the customer experience while you’re still learning your skills. Make sure you love the company you work with because they are an important part of your business. For example, Aperwel relies on professional account managers to make life easier for new beauticians when it comes to opening a wax salon.
7) Build a website and online presence for your waxing services
Even if you have to use a free website builder for your salon website for a while, hire a professional Google SEO service team to keep the website in good operating condition. It is more important to pay more to use a high-quality service that you are happy with.
Your website acts like a higher-view version of your service menu and storefront. You want to make sure it has everything they need to book services from you with the click of a button.
You can also sell all your retail add-on products there and offer blogs, discounts, and other offers. Share a video of your expertise or show off the items in your salon waxing kit!
9. Conclusion
Starting your first waxing business is an exciting and rewarding investment that can make you a lot of money while allowing you to do what you love most. With the right wax, equipment, and people to help you along the way, anything is possible! You can develop a very successful waxing business with Aperwel providing you with high-quality wax.