Five Great Waxing Franchises to Invest In 2021
With summer just around the corner, and people eager to go to the beach or travel again as vaccinations for COVID-19 are widely available, waxing franchises are shaping to be a great investment for summer 2021.
A study from research firm IBIS World found the waxing industry grew an average of 7.6 percent annually between 2010 and 2015. In 2014, roughly 300,000 businesses earned sales totaling $11 billion. According to Benzinga, the global waxing hair removal market is expected to reach $18.8 billion by 2024, with a 9 percent CAGR.
The market drivers for this large growth are attributed to enhanced beauty consciousness among people with a recent spike in interest from men. This male shift to self-grooming is referred to as “manscaping.” According to Inc., in just the U.S., male hair removal services and products account for $1 billion in annual revenue. A study from waxing salon Brazilian Butterfly found the reason for the increase in male clientele for wax treatment was due to increasing normalization of male beauty, encouragement from a spouse, sports, confidence, convenience, and hygiene.
As the popularity of hair removal spreads, let’s check out these top 5 waxing franchises ready for the boom:
European Wax Center
Originally founded in 2002 Richmond, Texas, European Wax Center has grown to 876 locations with a US footprint in more than 41 states. The franchise focuses on continuously refining its customer experience in a number of areas, from the quality of its wax to developing its own beauty product line. In 2019 the franchise performed 10.1 million waxing services, representing 12.6 percent year over year growth. European Wax has been recognized by Entrepreneur Magazine’s Franchise 500 as First in Body Waxing Services, Skin and Beauty Products and was a winner of Franchise Update Media’s Franchise Innovation Awards: 2019 Cause. Startup costs for a European Wax Center franchise start at $450,000. To learn more about a franchise opportunity with European Wax Center, click here.
Fuzz Wax Bar
Founded in 2011 and franchising since 2015, Fuzz Wax Bar now has 9 locations. The franchise’s membership-based business model focuses on offering clients perks and rewards that increase satisfaction and client retention. Startup costs for a Fuzz Wax Bar franchise start at $308,000. To learn more about a franchise opportunity with Fuzz Wax Bar, click here.
Founded in 2013 and franchising since 2015 from Birmingham, Alabama, L.A. Bikini now owns and operates 10 locations. L.A. Bikini offers a wide variety of body sugaring services for members and guests and is the first franchise in the US that is completely dedicated to body sugaring for hair removal and skin care. Body sugaring has increased in popularity for being known to feel cooler and bonding only to hair as opposed to skin. Startup costs for a La Bikini franchise start at $279,760. To learn more about a franchise opportunity with La Bikini, click here.
Lay Bare Waxing Salon
Starting in 2006 and franchising since 2008, Lay Bare Waxing Salon has grown to 133 locations in the United States and Philippines. The salon offers Brazilian wax services in various packages. Startup costs for a Lay Bare Waxing Salon franchise start at $123,000. To learn more about a franchise opportunity with Lay Bare Waxing Salon, click here.
Waxing the City
Founded in 2003 in Woodbury, Minnesota, Waxing the City began franchising in 2010 and today has expanded to 119 locations. Waxing the City has expanded franchisee revenue options by developing its own line of soft and hard waxes. Franchisee employees receive a week-long, hands-on training course to become certified in franchise’s waxing process and receive regular training thereafter. In 2017, Waxing the City was recognized by Entrepreneur 500's Best of The Best. Startup costs for a Waxing the City franchise start at $214,000. To learn more about a franchise opportunity with Waxing the City, click here.