Thursday, 26 January 2017 11:20

The Business of Waxing

Written by   Annette Hanson, founder and president of Atelier Esthetique Institute of Esthetics

Waxing is one of the most sought-after services in the beauty industry. There are specialized waxing facilities across the country to meet the growing demands.

Suitable for just about everyone, both young and old, women and men, are regularly booking waxing appointments because it has become a lifestyle and part of people's grooming routine. The major benefit of waxing is the silky, smooth feeling that is often experienced for close to a month; it takes longer for the hair to grow back and it grows back finer with no razor stubble. However, when done incorrectly, waxing can be a nightmare, causing anything from infections and ingrown hairs to blisters, burns, and even missing skin!

Clients no longer squeeze in a quick eyebrow wax after a manicure. Waxing is no longer a mere afterthought – it is a multimillion dollar industry. Appointments are now being made weeks in advance at top-notch centers that offer only waxing services. The shift to qualified, licensed wax experts who wear protective gloves and keep their rooms meticulously clean is the new norm. Waxing services survived the recession and are no longer reserved to one room in the back of a salon.

Stand-alone wax studios, which are equipped with multiple rooms and online booking, are an emerging phenomenon. How can professionals own a thriving business in waxing?

Take a look at European Wax Center, recognized as the fastest-growing company in the beauty services category, with now close to 580 centers nationwide.

Their concept was started in 2004 by two brothers – David and Joshua Coba – in a second generation, family-owned salon. They introduced a membership program, in which frequent clients would pay for a package fee of three or six services or a yearly fee to receive unlimited waxing services. Currently, European Wax Center has evolved to a multi-location corporate entity with elite features such as a centralized guest reservation center, its own formulated hard wax, and a licensed in-house education staff.

In order to open a business, professionals need a high-quality business plan and have a thorough understanding of the financial basics involved. They should also investigate their competitors in the area, understand their strengths and weaknesses, and be sure to speak to those already in the business.

Consider buying an established waxing hair removal business that has reliable revenue streams and loyal client bases. If the professional does their research, they will see that there are a number of waxing-only salons across the country.

Even though franchising is not right for every entrepreneur, many startup owners find that a franchise offers the resources and behind-the-scenes support they need to be on solid footing. There will be an initial franchise fee, which grants the professional the license to run a business under the company name.

The key to business success is dedication, extensive training, excellent customer service, and a great team.

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