With growth that has outpaced other sectors in the American economy, the personal care industry can be a strong lure for entrepreneurs seeking new ventures. One sector in particular — the body waxing industry — is expanding at a remarkable pace.
Body waxing is a high margin treatment with low overhead — making it one of the most profitable services in the personal care arena, yet the number of waxing-only salons in the United States is relatively small, presenting a great opportunity for people who want to get in on the ground floor and capture the market. And, according to a recent global industry analysis, the global waxing hair-removal industry is projected to grow at a compound annual growth rate of 9.4 percent and reach $18.8 billion by 2026.
Growing Demand – Body waxing is now considered a personal care maintenance necessity that outperforms massage, tanning and facials in the list of personal care services. After hair and nail care, body waxing ranks third in the list of most sought-after services; and is considered a recession-resistant business. Industry reports show that specialty salons like waxing and nails fared well during the last recession with revenue rising to a high of $11 billion. The audience for body waxing is also expanding. Male grooming and personal care have skyrocketed to a $4 billion industry, with body waxing taking a $1 billion chunk of those sales.
Recurring Revenue – Body waxing customers experience immediate results and quickly realize the long-term benefits of the services they receive, making it a part of their beauty routine after just one or two visits. The average body waxing customer returns for services every four to six weeks. In fact, it is estimated 93 to 99 percent of waxing customers remove their body hair regularly. On average, women who wax are estimated to spend more than $23,000, over their lifetime, to rid their bodies of unwanted hair.
Low Overhead – The inventory for a body waxing business is considerably lower than other types of businesses. Operators do not need expensive equipment to perform services. The initial supplies needed to begin a body waxing business cost around $8,000. Investing in a franchise such as Uni K Wax Studios can reduce costs even further due to the company’s buying power and use of proprietary products.
Ease of Operation – Unlike other businesses such as restaurants or retail, the key to the success of a body waxing business is simplicity. Given the low inventory and low overhead costs, this is an easy business for a new entrepreneur to run or for an experienced multi-brand owner looking to expand their portfolio.
Upsell Opportunities – Many customers start out waxing one area (e.g. eyebrows) and soon add on other areas as part of a service package. There is also the opportunity to sell the customer products for in-between-treatments — creating an additional boost in revenue.
The process of opening your own business can be overwhelming. Instead of struggling to understand the ins and outs of starting a waxing business from scratch, you might consider franchising as a way to get into the multi-billion dollar waxing industry. Franchises, like Uni K Wax, typically have a higher rate of success than independent businesses because you are investing in a support system built by people who understand the industry, target audience, markets, best operational practices, etc. Plus, when you become a franchise owner, you also get the additional support of a network of other franchisees. No experience in the waxing, beauty or personal care industry is necessary.
A body waxing franchise like Uni K Wax studio is well-known and carries a lot of power in the brand itself. Moreover, the Uni K Wax team guides new franchisees through the process of building their first studio, or upgrading an existing studio, and continues to provide training, operational and marketing support throughout the term of the franchise agreement.
About Uni K Wax Studios
Uni K Wax is the nation’s leading natural wax franchise and offers over 160 waxing services for women, men and teens. The brand’s founder, Noemi Grupenmager, opened the first Uni K Wax Studio in 1993 with the goal of providing a better, more complete waxing experience to a massive untapped market. In 2007, after nearly 15 years of refining their formula, techniques and best practices, Uni K Wax began offering franchise opportunities in a few select markets.
Today, with the systems and infrastructure in place, Uni K Wax is poised for growth in a wide-open sector of the stable and growing beauty industry. The brand currently has locations in Florida, New York, New Jersey, and Texas.
Click here to learn more about waxing franchise opportunities with Uni K Wax Studios.