You have found the perfect business idea, and now you are ready to take the next step. There is more to starting a business than just registering it with the state. We have put together this simple step guide to starting your body waxing salon. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
STEP 1: Plan your Business
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
- What are the startup and ongoing costs?
- Who is your target market?
- How long it will take you to break even?
- What will you name your business?
Luckily we have done a lot of this research for you.
What are the costs involved in opening a body waxing salon?
This business requires a facility for body hair removal, body hair removal equipment and supplies, employees, insurance, a table, chairs, a receptionist's desk, marketing, and a website. Though the owner can serve as the body hair removal specialist, receptionist, and marketing professional at the business' launch, additional employees will be necessary as the business grows. Plan on spending several thousand dollars on body hair removal equipment, supplies, table(s), and chairs. The office will likely run $500 to $1,000 or more in monthly rent.
What are the ongoing expenses for a body waxing salon?
This type of business requires employees, marketing, insurance, office supplies, body hair removal equipment/waxing products, a space to operate and utilities including a high-speed internet connection. Body hair removal specialists typically earn between $10 and $20 per hour. A receptionist will earn between $8 and $15 per hour. Marketing and accounting professionals will command a yearly salary of $30,000 to $50,000. Budget at least $200 per month for insurance, office supplies and utilities. Plan on spending between $600 and $1,000 or more to rent an office/body hair removal space.
Who is the target market?
In general, teenagers and those in their twenties or thirties are most interested in body hair removal. Most customers will need periodic waxings, so you will likely have many return customers.
How does a body waxing salon make money?
This business makes money by charging customers for sessions in which body hair is removed.
How much can you charge customers?
A full body wax typically costs between $50 and $100. The waxing of eyebrows usually runs between $10 and $20. Waxing the upper lip costs between $5 and $10. A Brazilian wax of the lower body runs $30 to $45.
How much profit can a body waxing salon make?
This type of business can generate a yearly profit of $50,000 or more. Set up shop in an area with plenty of young people, market the business in a strategic manner and you might make six figures per year or more.
How can you make your business more profitable?
Offer a wide variety of services. Waxing services should extend to the eyebrows, lips, underarms, chest, back and beyond. You can also provide beauty salon services, spa services, massages, pedicures and manicures.
What will you name your business?
Choosing the right name is very important. We recommend checking if the business name you choose is available as a web domain and securing it early so no one else can take it.
STEP 2: Form a legal entity
Establishing a legal business entity such as an LLC prevents you from being personally liable if your body waxing salon is sued. There are many business structures to choose from including: Corporations, LLC's, and DBA's.
You should also consider using a registered agent service to help protect your privacy and stay compliant.
For most small businesses forming an LLC is a great option, but if you still want to weigh all your options check our our article, What Structure Should I Choose for My Business?
STEP 3: Register for taxes
You will need to register for a variety of state and federal taxes before you can open for business.
In order to register for taxes you will need to apply for an EIN. It's really easy and free!
You can acquire your EIN for free through the IRS website, via fax, or by mail. If you would like to learn more about EINs and how they can benefit your LLC, read our article, What is an EIN?.
STEP 4: Open a business bank account & credit card
Using dedicated business banking and credit accounts is essential for personal asset protection.
When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil.
Open a business bank account
- This separates your personal assets from your company's assets, which is necessary for personal asset protection.
- It also makes accounting and tax filing easier.
Get a business credit card
- This helps you separate personal and business expenses by putting your business' expenses all in one place.
- It also builds your company's credit history, which can be useful to raise money and investment later on.
STEP 5: Set up business accounting
Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.
STEP 6: Obtain necessary permits and licenses
Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.
State & Local Business Licensing Requirements
Certain state permits and licenses may be needed to operate a body waxing business. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits.
In addition, certain local licensing or regulatory requirements may apply. For more information about local licenses and permits:
- Check with your town, city or county clerk’s office.
- Get assistance from one of the local associations listed in US Small Business Associations directory of local business resources.
Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses.
It is advisable to provide clients with informed consent agreements to decrease legal liability and encourage transparency. Here is an example of a liability waiver, sometimes called an “informed consent agreement”.
STEP 7: Get Business Insurance
Insurance is highly recommended for all business owners. If you hire employees, workers compensation insurance may be a legal requirement in your state.
STEP 8: Define your brand
Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.
How to promote & market a body waxing salon
Promote the business online and through local media channels. Key in on creating captivating and helpful content optimized for search engines. Make use of pay-per-click marketing as well as social media marketing. It will also help to advertise the business in areas frequented by young adults such as local universities, shopping centers and restaurants.
Recommended: Get started with local advertising for your business with a $300 credit from Yelp.
How to keep customers coming back
Promote the business online and through local media channels. Key in on creating captivating and helpful content optimized for search engines. Make use of pay-per-click marketing as well as social media marketing. It will also help to advertise the business in areas frequented by young adults such as local universities, shopping centers, and restaurants.
STEP 9: Establish your Web Presence
A business website allows customers to learn more about your company and the products or services you offer. You can also use social media to attract new clients or customers.
Start A Body Waxing Salon In Your State
Select your state below for an in-depth guide on completing each of these steps in your home state.
This business is ideal for an individual who is looking for a way to make money while improving the well-being, confidence, and beauty of others.
What happens during a typical day at a body waxing salon?
Body waxing salons provide hair removal services throughout the day. Employees schedule body hair removal sessions, remove body hair from patients, clean the facility, and interact with customers. The owner and/or manager of the body waxing salon oversees employees, delegates work, handles marketing duties, and researches new body hair removal equipment and supplies.
What are some skills and experiences that will help you build a successful body waxing salon?
An individual who has a background providing aesthetician services, running a business or operating laser-based equipment will likely thrive in this rapidly growing niche. The entrepreneur should have excellent people skills, be detail oriented and precise. He or she should also be comfortable removing hair from highly sensitive areas of the body.
What is the growth potential for a body waxing salon?
This business is growing quite rapidly. According to IBIS World, the body hair removal industry revenue was nearly $600 million in 2015. This organization projects a three percent annual industry growth rate. Plenty of people are on the prowl for a body waxing service that removes hair from all over the face and body. This spiking interest in body hair removal creates the potential for rapid expansion. It might even be possible to expand to a second location and eventually set up body waxing salons across the state or region.
TRUiC's YouTube Channel
For fun informative videos about starting a busines visit the TRUiC YouTube Channel or subscribe below to view later.
One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.
Having a support network in place to turn to during tough times is a major factor of success for new business owners.
What are some insider tips for jump starting a body waxing salon?
Market the business toward those who are most likely to be interested in body hair removal. Furthermore, the business owner should research body hair removal equipment in-depth to pinpoint technologies that reduce the amount of pain endured by the patient when the hair is removed and provide lasting results. Establish relationships with waxing supplies wholesalers to get the best deals on products like soft wax, hard wax, gloves, waxing strips, lotions, powders, etc.
How and when to build a team
The quality of the salon's body waxing services is of the utmost importance. Your business should provide body hair removal services that last for weeks, if not months. Furthermore, the body hair removal process should be as painless as possible. Your body hair removal specialists must be friendly with clients from the moment they walk in the door to the moment they leave. Customer comfort during the body hair removal process is important as this is somewhat of an inherently awkward service. Keep your clients comfortable, provide lasting results and they will recommend your business to friends, co-workers and others.