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How to Calculate ROI for Your Waxing Business

How to Calculate ROI for your Waxing Business

It can be easy to have the dream of owning your own waxing business or salon and being your boss. Even if you put all of your time and money into a business, however, it does not guarantee its success. 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

Table of Contents

  • What is ROI for Waxing?
  • How Do I Calculate the ROI for My Waxing Business?
  • Save Money By Buying Bulk Hard Wax
  • How Improving Your ROI Can Help Your Business
  • How to Improve Your Waxing Service ROI
  • How Much Should I Charge for Waxing?
  • How Much Wax to Use for Waxing?
  • Final Thoughts
  • Having the right strategy for your business will allow you to build your business, strengthen your ROI, and lower supply costs while raising profits

    READ: Tips for Reducing Your Waxing Salon Products Costs

    What is ROI for Waxing?

    When starting a waxing business or striking out on an independent venture, you need to prioritize the logistics that go into it all. It’s important that your business runs as efficiently as possible - and has a healthy profit margin. You need to keep your business going, after all! So what is an ROI for waxing? How does it affect your day-to-day as a small business owner? 

    When running a business, you need to ensure that you’re not spending more than you make and take steps to stop your business from losing money unnecessarily.

    ROI, or “Return on Investment”, essentially refers to how you determine what aspects of your business are making or losing money, and how you should spend accordingly. Now that you know what an ROI is, you might wonder how to calculate ROI on your waxing services.

    READ: How to Increase Salon Clientele in the Current Economy 

    How Do I Calculate the ROI for My Waxing Business?

    To calculate ROI, the benefit (return) on an investment is divided by the cost. 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, or investing more in the business and its infrastructure as a whole.

    Increase Your Return & Save with Wholesale 

    To run a successful waxing business, keeping supply costs low while still retaining the use of high-quality supplies for your services will keep your business healthy and your clients coming back - all 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 standard 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: Best Esthetician Services to Offer Clients

    How to 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 probably spending more than you have to have to on supply. By buying retail, you’re probably hurting your business’ ROI. 

    Instead, when you buy in bulk, you’ll allow yourself to have a more consistent inventory of wax and 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 a 30 lb 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 spend 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 add up.  

    Save with bulk hard wax

    *30lb box purchased at Tier 3 level pricing shown

    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 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 30 lb 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 bag, 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 it will add up or make a real difference in your ROI, but you’re hurting your business’ profits. Save money, order less frequently, and boost your business’ profits by buying in bulk with our wholesale pricing

    READ: How to Raise Prices in a Salon  

    How Improving Your 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 products and services, and standardize wax usage. With all of these factors perfected, you’ll allow your business to become more profitable. 

    READ: The Complete Bikini/Brazilian Waxing Guide

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