Why the Waxing Industry?
The $11 billion waxing industry is expected to experience incredible growth in the coming years. According to a report from Technavioreader, the market size is estimated to increase by $375.15 million in between 2023 and 2027 – growing at a compound annual growth rate (CAGR) of 8.86%. It’s estimated that 31% of the market’s growth will come from North America – making a waxing franchise an ideal opportunity for entrepreneurs looking for something to invest in right now
What Does it Cost to Open a Uni K Wax Studio?
The initial franchise investment costs to open a Uni K Wax location range between $390,135 and $650,345, making our franchise opportunity an affordable investment within the vast beauty industry.
As part of our startup costs, we do require a $45,000 franchise fee. However, should you sign a multi-unit development agreement with Uni K Wax, your franchise fee will be reduced to $35,000 for your second studio, and reduced further to $30,000 for six or more studios.
Does Uni K Wax Offer Funding?
At Uni K Wax, we do not offer in-house financing. However, we do have partnerships with lenders who have provided funding to other franchisees. Our team can also help you curate a financial plan so you can properly fund your studio.
Do I Need to Have a Background in Waxing?
In short: Not at all! We have a comprehensive training program that all of our franchisees complete before the opening of their franchise location. You’ll receive training at our Uni K University Training Center in Aventura, FL, at your studio, and during the opening process of your location. Approximately one month after your studio opens, our Field Operations team will return to your location to conduct our Bounce Back Training. During this time, we’ll meet with you and your team to answer any questions you have and ensure all procedures are being followed properly. We also continue to work with you and your staff for the life of your franchise agreement to make sure all Uni K Wax standards are still being met. As an option for owners who have been operating their location for some time, we do offer an in-office Bounce Back Training as a refresher course.
What Kind of Franchise Support Can I Expect?
In addition to our extensive training program, we have a team of industry experts who are ready to help you through the process of opening your studio and for the life of your agreement. Uni K Wax provides support with technology, marketing and public relations, vendors and equipment, project management, and customer relationships. We also offer ongoing education and trainings to ensure all of our locations are providing the top-notch service our customers expect from us. Our Field Operations team is dedicated to making regular visits to our locations to answer questions and help owners streamline their operations.
What Does Uni K Wax Look For in Franchisees?
We’re looking for enthusiastic entrepreneurs who are eager to help others look and feel their best. In addition to being financially qualified, we look for individuals with prior business experience, drive to succeed, and the ability to foster strong relationships with customers and employees.
Can I Buy an Existing Studio?
Absolutely. Buying from an existing franchisee is a great way to jump into business quickly and efficiently. With an existing location, you’re able to take advantage of being in an established area with an experienced staff and loyal customer base
Can I Buy More Than One Studio?
Definitely! We offer a financial incentive to those who open more than one studio. And an incredible 50% of our franchise partners currently own multiple locations. It’s important to note, however, that investment costs will vary per location depending on site and build-out requirements.