THE WAXOPOLITAN

How to Calculate ROI for Your Waxing Services

15 Sep, 21

It can be easy to have the dream of owning your own waxing business or salon and being your own boss. Even if you put all of your time and money into a business, however, it does not guarantee its success. In order to make sure your business is running smoothly and making a profit, it’s important to keep track of what you’re putting in versus what you’re getting out of the business. 

What is ROI for Waxing?

When starting a waxing business or striking out on your own independent venture, you might easily overlook the logistics that go into it all. So once you’ve decided to go solo, it’s important to make sure that your business is running as efficiently as possible - and having a healthy profit margin. You need to keep your business running, after all! So what is an ROI for waxing? How does it affect your day to day as a small business owner? We’re glad you asked. 

When running a business, it’s important to make sure that you’re not spending more than you’re making, and to make sure that your business isn’t losing any money for reasons well within your control. 

ROI, or “Return on Investment”, is a term essentially referring to how you determine what aspects of your business are making or losing money, and how you should spend your company’s money accordingly. Now that you know what an ROI is, you might be wondering how to calculate ROI on your waxing services.

Generally, the most common way to calculate ROI is by dividing your net profits by your total investment. This ROI dictates your spending decisions, whether that entails buying new supplies, hiring staff, and investing more in the business and its infrastructure as a whole. 

 

How do I Calculate the ROI for My Waxing Business?

To calculate ROI, the benefit (return) on an investment is divided by the cost. 

Increase Your Return & Save with Wholesale Waxing Services

Another imperative aspect in running a successful waxing business is to make sure you’re not overpaying for supplies, and that you’re using the highest quality materials in your business and in servicing your clients for the right prices. That’s where Starpil comes in. 

To make sure your business retains a healthy ROI, it's important to not overspend on supplies and get proper pricing on the highest quality professional waxes possible for your clients. By getting the best waxes and not overspending, you can make sure to have returning clients, without breaking the bank. 

So is waxing cost effective? It can be with wholesale pricing.  By joining Starpil’s Pro Portal, businesses can have access to discounts off of traditional retail pricing, as well as access to bulk hard wax and larger quantities of waxes for use in their salons. This Pro Portal also gives exclusive access to the best quality experience possible by allowing businesses to cultivate a personal relationship with Starpil. 

READ: How to Become an Esthetician

 

Save Money By Buying Bulk Hard Wax

If you’re buying a 10lb bag of Pink or Blue hard wax beads every week, or frequently enough to effectively service your clients consistently, you’re consistently spending more than you have to have to on supply, and in turn hurting your business’ ROI. By buying in bulk, you’re allowing yourself to have a more consistent inventory of wax, save yourself the trouble or labor involved with ordering wax again and again, and most importantly - save you and your business money! It’s like giving yourself a raise without raising prices on clients. 

 

If you’re wondering how buying even just a 30lb box of wax versus the 10lb bag you’re used to can save you a large amount of money, let us break it down for you. When purchasing a 10lb bag of wax you’ll be spending on average about $174.90, or paying about $17.79 per pound. Whether you’re purchasing these bags weekly or just enough to keep up with your business’ needs, this can really add up. 

 

 

Save with bulk hard wax

 

 

To stop overspending on wax and hurting your ROI, the easiest and most cost-effective solution is to buy the wax you’re already purchasing at a higher cost in bulk through the Starpil Pro Wholesale Portal. By buying in bulk, you’ll be saving money per pound, and will have both a larger inventory of wax for your business and will save yourself time and effort by not having to order as often. In comparison to our 10lb bag, our 30lb box of Pink or Blue Hard Wax Beads will cost about $439.90, or $14.66 per pound. That number may seem a lot larger than the cost of a 10lb box, but by buying in bulk, you’re actually saving not only money, but time and stress as well.

 

Buying 10lb bags and paying retail pricing may not seem like a lot or that it would make a real difference in your ROI, but to keep up with demand, you’re actually hurting your business’ profits. Save money, order less frequently, and boost your business’ profits through buying in bulk with our wholesale pricing. 

 

How Improving Your Waxing ROI Can Help Your Business

Improving your ROI can help you boost profits and cut costs. It will also help to assess how much you’re putting into the business versus how much you’re making from your services. By improving your ROI, your business can lower supply costs, retain the quality of product and service, and standardize wax usage, which will allow your business to become more profitable. 

READ: Top Tips for Reducing Your Wax Salon Product Costs

How to Improve Your Waxing Service ROI

The most straightforward way to improve your ROI is by cutting costs in order to increase profit without raising your salon’s prices. An easy way to lower your costs of supplies and your investments without sacrificing the quality of your waxing services or of the products used is by switching to a wholesale program instead of paying retail for high volumes of wax.

30lb Pink Film Bulk Hard Wax

By acquiring wholesale wax pricing privileges and Starpil Pro Benefits on 30+lbs of wax, you’re saving your business a huge amount of money, while increasing your profits. Buying in bulk also allows you to always have enough product on hand should you unexpectedly experience an uptick in clients that maybe you hadn’t properly ordered or prepared for ahead of time. By saving money and still providing your clients with the highest quality services, you’ll have returning customers and high profit margins. 

Why Buy Bulk Hard Wax?

The biggest reason to buy bulk hard wax is that it enables you to have higher quantities of supply for your salon for lower prices. By buying in bulk, you can ensure that you will not run out of your professional waxes, so no matter how clients you service a week.

Wholesale Waxing Supplies

Additionally, by buying all at once or higher quantities at a time, you can save your business a huge amount of money and have access to wholesale pricing. 

How Much Should I Charge for Waxing?

How much to charge for waxing depends on your region or area, how much you’re spending on wax and waxing supplies, as well as what kind of services you’re offering (and what is included in each). There’s no one right price to charge, but that’s where knowing your ROI comes in.

In order to have a healthy business, you must balance making your prices attractive to clients, while making sure you’re making a profit after taking into account all of your supply and business expenses. For a general pricing guide for individual services, read below. 

Pricing Waxing Services

When starting your own waxing business, pricing your waxing services comes down to factors like the competitive pricing in your area, business expenses, or the number of employees on your payroll. It’s also determined by how in-demand you are as you gain experience. People will keep coming for you when your services are top-tier, and as your time becomes more valuable, your prices will rise. 

 

When looking at your expenses to determine your wax service prices, the first thing you need to find out is how much it cost to wax? Take the wax price and how much wax to use for the most popular services and break it down.

Start by asking yourself how much does a pound of wax cost (or the size of the tub or bag you buy)? Then ask how much wax do you need for legs, for example? Then determine how many leg waxes you would need to do to make up for your initial cost of waxing. We’ll show you more below.

How Much Wax to Use for Waxing?

Especially when you’re in charge of your own business, it’s incredibly important to make sure that you’re not wasting valuable product due to not measuring your wax properly (or at all!) during a service.

So how much wax should I use for legs? For arms? Bikini waxes? Full body waxes? What do I then charge for these services? So many measurements, so little time! 

 

READ: How to Use Hard Wax Like a Pro

Eyebrow & Facial Waxes

One of the most common waxing services performed at a salon are eyebrow or upper lip waxing, as well as waxing on other areas of the face. For the most popular of the facial waxing services, pricing varies, but usually is around $20, and around 7-10 grams of wax is the standard amount used. 

READ: How to Wax Eyebrows

Leg Waxes

Leg wax

When trying to calculate how much wax to use for legs, there are a lot of factors to take into account. However, for the average leg waxing service, estheticians usually use around 280 grams of wax. Typical pricing for a full leg waxing service is usually from $60-$70, but depends on your business’ expenses and individual variables. 

Bikini Waxes

Bikini Wax

Calculating the cost for bikini waxing goes along the same lines as that of leg waxing - it all depends on your expenses and the unique variables that go into your business or waxing service inclusions. Generally, bikini wax services use around 50 grams of wax per service, and usually are priced around $20-$30 per service. 

READ: Complete Bikini/Brazilian Waxing Guide

Underarm Waxes

As said prior, there are a lot of elements that go into choosing the right price point for your salon’s unique services, and you should always take into account whatever extras you throw into your services offerings or any external factors that might affect pricing. However, underarm waxing services are usually priced anywhere from $15-$20 per service. 

Full Body Waxes

Full body waxes usually have a variety of services or inclusions depending on the esthetician or salon involved in the process. Therefore, full body waxes can be difficult to price. Full body waxes can include bikini and intimate area waxing, leg waxing, back waxing, arm waxing, and underarm waxing.

Additionally, some salons include packages for facial waxing with full body wax services. Overall, full body waxes usually start around $150, and go up in price from there, depending on what services are included in the overall package. Since services included in the package vary, so does wax usage. If trying to calculate wax product usage for full body wax services, go off of the individual services provided and come about the full package’s final usage number that way. 

In addition to taking into account the initial investment and money spent on products for waxing services, as well as your area and other standardized pricing for your salon, it’s important to determine standardized measurements to maximize product usage and minimize waste. Especially if you have other employees, ensuring that your salon is using the same amount of wax to ensure an easy service, but without using excessive amounts or just not measuring at all. This will both make sure your clients get consistent service and results, as well as making sure your costs are in check. 

WATCH: How to Calculate ROI for Your Waxing Business | STARPIL WAX

The Bottom Line

At the end of the day, you have to make what you believe to be the right decisions for your business individually. Only you know your business’ unique needs, services, and expenses. However, it’s important to keep track of initial investments, how much you’re spending on product, how much product you’re using for each service, what services you’re offering, and how much you’re charging for each. It’s also important to know how much labor you’re devoting to tasks other than serving clients, like doing payroll or administrative duties that could be streamlined or otherwise done more efficiently. 

A lot goes into making sure your business is running smoothly and efficiently, and that it’s profitable. The most important aspect in determining this is by making sure your business has a healthy ROI. Make sure to set goals, offer a wide variety of services to draw clients in, and lower your supply costs through wholesale pricing.

By lowering your costs, offering services attractive to customers, and making sure your business is standardized and running efficiently, you’re setting yourself and your salon up for success and for a healthy financial future. To access wholesale pricing through Starpil, get in on our Starpil Pro Benefits here