How to Start a Waxing Business the Right Way
We live for when an esthetician ventures off to start their own waxing business. We understand that starting a new waxing salon business is never easy and that you may need some help along the way. In this blog, we start with some eyebrow-raising statistics on why the hair removal industry might be right for you. We discuss the costs and share the keys to building a successful waxing business, no matter how big or small it is. We give you tips on defining your branding, service pricing, and the keys to successful services and getting repeat business. So read on and let Starpil Wax show the way.
- How to start your own waxing business
- Waxing business names
- How much does it cost to start a waxing business?
- How to get more waxing clients?
What is the body waxing industry worth?
According to Global Hair Removal Wax Industry, an article in GlobeNewswire.com:
The Hair Removal Wax market in the U.S. is estimated at US$2.6 Billion in the year 2020. China, the world/s second largest economy, is forecast to reach a projectd market size of US$3.9 Billion by the year 2027 trailing a CAGR of 12.3% over the analysis period 2020 to 2027
Jul 25, 2020
Waxing businesses foster hair removal via waxing services by licensed estheticians or cosmetologists who are trained in waxing hair removal. Although women are predominantly the main body wax salon goers, other genders are joining in on the fun. As the French often say, “without suffering, there is no beauty,” and for men there is no exception. Nowadays, more men are beginning to invest money and time into self-grooming, which has made the “manscaping” body waxing industry estimated to grow to $81.2 billion globally by 2024
Is waxing a profitable business?
Even though starting a waxing business isn’t new, it is continuing to snowball. According to IBISWorld.com, the waxing industry has now surpassed $600 million. This organization continues projecting a steady annual 7.0% industry growth rate. Many people are on the hunt for full-body depilatory waxing services, and the seemingly ever-rising interest in hair removal could see no end in business expansion opportunities.
How Much Do Wax Business Owners Make?
When starting your own waxing business, you need to go into the venture with a realistic view as to how much money you will make, especially when just starting out. After making your initial investment, it may take a while before your business starts making money - all of which you have to prepare for. By keeping excellent track of your ROI and how much money is coming in and going out of your business, you can make sure you and your business are making enough money to be comfortable and thrive. Upon taking this into account, you might be now wondering “how much profit can I make with waxing?”. The answer to this lies in how closely you're managing your business’ expenses and ROI.
How do I know if starting a waxing business is right for me?
Starting a waxing business is ideal for someone looking for a way to make money while improving others’ well-being, confidence, and beauty. Waxing business owners are passionate about skincare and the benefits of depilatory waxing. You could reach limitless potential depending on the effort put into your business. You can start by learning how to start a waxing business from home and discover a whole new skill set. It doesn’t matter what kind of waxing business you want to start; do you want to rent a chair or learn how to start a mobile waxing business? You get to decide what opening a waxing business looks like for you!
What Is a typical day like owning a waxing business?
A waxing salon is similar to other salon and spa business types, except the focus is mostly on hair removal services. As a certified waxer, one might schedule body sessions, wax clients, clean (a LOT of cleaning), retail products, and interact with people all day long. The waxing business owner and/or manager carry out esthetician and spa management duties like overseeing employees, delegating work, handling marketing duties, and ordering inventory and supplies.
How much does it cost to start a waxing business?
Waxing salon starting costs depend on what kind of waxing business you’re looking to have. If you’re a freelancer or mobile waxing business, catering to clients at their home or business, your costs will be very different than someone renting a chair or owning multiple stations in a salon. Any-sized waxing business requires a facility for services, equipment and supplies like a salon wax warmer, employees (even if it’s just you), insurance, tables, chairs, marketing, and a website just to name a few things.
The store owner can be responsible for esthetician and spa management but also serve as a hair removal specialist, receptionist, and marketing professional at their business’s launch. Still, additional employees will be necessary as the business grows. Ultimately, plan on spending several thousand dollars on hair removal equipment, supplies, tables, and chairs. Monthly rent will vary depending on your location.
Who is my target market for starting a waxing business?
Although teenagers and people in their twenties and thirties are most interested in hair removal, many waxing businesses also see success with older generations if they provide them with the proper waxing education. But if you really want to know who your target market is, it’s essential for a certified waxer to study the demographics surrounding the location you want to open your business up and learn the waxing requirements needed to tailor your services to those people’s needs.
As most clients will need recurring visits, your esthetician business plan should include the best products and the right waxing and customer service techniques—from your website to your front desk to have your target audience turn into returning customers.
How can a waxing business make me money?
Building a waxing business includes making money by charging customers for products and services. The better your services are, and the marketing you invest in your business can determine your success. Your services need to be priced in a way that allows you to cover your overhead while making enough profit to live your life on. This is why it’s important to buy your products in bulk or work with a Starpil Pro Account Manager who can help you navigate your way by figuring out your expenses, the right products to buy, and how to keep your costs low when navigating how to grow your waxing business.
How to open a waxing business
Having a clear waxing business plan is fundamental for success as an entrepreneur. A few important things to consider are:
- Legal and accounting matters
- Waxing business names
- What will my initial costs be and my monthly budget (business and personal)? Think of the initial costs of a salon wax warmer, accessories, rent, and salon wax supplies, for example. Leave no expense out.
- How much will I charge for my waxing services?
- What does my branding look like?
- How to grow your waxing business?
- How do I reach those clients?
- How long will it take for me to break even?
What are some legal steps I need to take to start a waxing business?
A big part of your business plan should include creating a legal business entity such as an LLC that inhibits you from being personally liable for major issues happening with your business. Opening a business bank account separates your personal assets from your company’s assets, which is necessary for personal asset protection. You will need to register for a variety of state and federal taxes before you can open for business.
Recording all of your expenses and sources of income is essential to understanding your business’s financial performance. Keeping accurate and detailed accounts also facilitates your annual tax filing. Getting insurance is also highly recommended for all business owners. If you hire employees, workers’ compensation insurance may be a legal requirement in your state.
Waxing business name ideas
Waxing business names encapsulate everything your busines is about in a name (but no pressure). To get your creative juices flowing on names, look at your style, if you’re a solo esthie or have a large salon. Think about your audience and chosen location. Are you more a “Waxing by Kim” or a “Bare Affair Waxing Center” No matter which name you choose, we recommend checking if the business name you want is available as a web domain and secure it early so nobody else takes it. Your business name can be meaningful to you, but must me memorabel and easy to read and write by your clients.
Defining your waxing business brand
Your brand is what your company stands for, as well as how the public perceives your business. A strong brand will help your business stand out from competitors and will build value for your clients. Figure out your colors, fonts, verbiage and how your brand presents itself to your customers.
How much should I charge customers for my services?
When learning how to start a waxing business know what a full body wax costs in your area. On average, it can cost anywhere between $100 and $300. Eyebrow waxing usually runs between $15 and $30. Waxing the upper lip costs between $7 and $20. A Brazilian wax of the lower body generally costs $30 to $60. It is essential to understand that pricing also varies by location and expertise. The more clients know and trust your brand, the more in-demand your services will be, and the more your time will need to cost.
How to grow your waxing business
The quality of your business’s waxing services is of the utmost importance and should be a certified waxer’s main priority. Your waxing business should provide results that last for at least weeks, if not months. Starpil Wax offers different products that are sure to keep your client’s skin smooth and hair-free for longer.
Know everything there is to know about waxing
Having a thorough understanding of the skin, hair growth cycles, personal and business development will mean that you will never stop learning. Having intrinsic knowledge of the skin, hair removal techniques, waxing products is essential. But if you want to go leaps beyond that, expand your awareness on how to deeply understand your clients’ needs. Learn how to sell your retail products and yourself. All of these skill will be critical to your success. The more you educate yourself on these things guides your choice of products that best fit your clients’ hair and skin. Hands-on waxing training, followed by practice, and more training (again, you should never stop learning), are key to developing your services, confidence and keeping clients coming back!
Having a good waxing product line
Knowing your product line is only part of owning a successful waxing business, ensuring that you are only using the best waxing products in your salon waxing kit for you and your clients is what wins the day. Be sure to have a good selection of wax products and waxing salon supplies that can suit any skin or hair type or concern. Even if you don’t use Starpil Wax, don’t skimp on your wax supplies. High-quality wax is easier to work with, improves your service skills, and enhances the client experience while you’re still learning your skillset. Be sure that you love the company you work with, because they’re a big part of your business. For example, Starpil relies on Pro Account Managers make life easier when staring a wax salon.
Build a website and an online presence for your waxing services
Even if you have to use a free Wix.com site for your salon website for a while, paying more to use high-quality wax that you are comfortable working with is WAY more important. Your website is like a way more seen version of your service menu and your storefront all roled into one. You want to make sure that it has everything they need to book a service with you with a click of a button. You can also sell all of your retail there and provide blogs, discounts, and other offers. Share videos of your expertise or show what’s in your salon waxing kit!
Starting your first waxing business is an exciting and rewarding investment that can make you lots of money while allowing you to do what you love most. With the right wax, equipment, and people by your side to help you along the way, the sky's the limit! You CAN grow a very successful waxing business, and Starpil Wax is here for you every step of the way with high-quality products, super-informative resources like The Waxopolitan (this blog). And, through our Starpil Pro Account Managers to ensure that you have the best for your clients at the best prices for you!
Other resources from Starpil for learning how to start a waxing business…
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