The Waxing Industry

Overview

The waxing industry is growing at an incredible pace. In 2012, waxing and nails alone accounted for $7.5 billion in revenue in the US. By the end of 2016, that number was up to $11.5 billion! That is over 53% growth in a four-year period. As more of the population, including men, start waxing, and as products such as laser hair removal lose momentum, the waxing industry is poised to continue to grow at exponential rates. Waxing is becoming less an occasional “treat,” and more part of normal grooming routines. Furthermore, the waxing industry has proven itself exceptionally recession-resilient—it grew to $7.5 billion during major recession years.

Market

Our research shows that almost 22% of the adult population waxes regularly, and another 18% intend to become waxers. Women between the ages of 25 and 44 make up the bulk of our customer base, but we’ve seen everyone from college students to middle-aged men come through our doors. Even better, your customers both need and choose to return to you every 4-6 weeks, creating a recurring revenue stream. Much like the relationship with a doctor or hair stylist, many of our clients find “their” cerologist and stay with them for years.

Competition

Very few salons focus solely on wax. In fact, there is only one other major US waxing studio brand. Most consumers are getting waxed in the “back room” of a full-service salon and receiving sub-par service and experience. There is tremendous opportunity for a waxing-only studio focused on high-quality service across the US. With many great markets still available, the time is now to invest in the next world-class franchise brand.

Fast Facts*

• The industry has grown from $7 billion in 2012 to $11.5 billion in 2016.
• 6.7% annual growth from 2011-2016.

Key success factors for operators in the industry (All core tenets of WTC’s model):

• Offer a wide range of services and products.
• Establish a loyal customer base.
• Maintain excellent customer relationships.