How to Start a Waxing Business

📅 November 1, 2024 ✍️ By Juan Riggs ⏱️ 9 Mins Read 🗂️ Blog 🕒 Last updated: November 2, 2024 📌 Tags:waxing

Every esthetician prefers certain aspects of their job over others. Some prefer doing facials or chemical peels, but you enjoy waxing the most. You could start a waxing business.

So why not start your own waxing business?

You already know not everyone has these skills. Even some fully licensed estheticians lack the precision and focus it takes to tackle the micro-level labor of waxing.

Clients are understandably nervous about letting someone handle such delicate work. If you have the talent and a little business savvy, starting your own waxing salon is your next career step.

Note: Freelance waxing businesses take many forms. When we use the term “salon” in this article, we’re not just referring to traditional brick-and-mortar salons — we’re talking to you mobile waxers and at-home waxers, too!

This guide will walk you through the process of starting and growing a freelance waxing business. Follow these steps, and a lucrative, freelance waxing career is in your future!

Learn how to start a freelance business in your field:

1. Map Out Your Plan in Detail

It all starts with a dream, but it only becomes a reality when you combine your vision with a plan.

Before you invest any resources into your waxing business, take some time to develop a clear business plan. This is essential if you plan on taking out a small business loan, and it will be the roadmap you follow as you build your dream.

Building Your Business Plan

A business planimportant information

Business model
Marketing plan
Projected revenue

Don’t be surprised if you don’t know all the answers right away. Most of them will reveal themselves as you think about your business strategy.

Mobile or Brick-and-Mortar?

The first question to ask is whether you want a mobile waxing business, a brick-and-mortar operation, or a hybrid of both.

Wherever you operate, you’ll need a few basics:

Equipment for the types of services you offer
Waxing products and body hair removal supplies (spatulas, waxing strips, soft wax, hard wax, lotions, and other skincare items)
Table and chairs

A mobile business doesn’t leave you with a lot of room to expand, so planning the layout is easy. A brick-and-mortar design, on the other hand, should be designed with the idea of growth in mind.

If you’re planning on expanding your business, consider how you can design the setup to bring in independent contractors in the future.

Once you plan your layout, you can start budgeting for overhead and expenses.

Account for all the costs involved in running your business, like:

Rent
Utilities
Insurance
Subcontractors
Licensing and permit fees
Other business essentials

Identify Your Target Market

The importance of understanding your target market can’t be overstated. This knowledge will guide you as you make important decisions about your business.

Waxing services are typically marketed to adults in their 20s and 30s. The market is predominantly female, although hair removal services are becoming more popular with males.

Let your market research guide your business, and aim to provide services to all genders. You’ll have a more profitable business if you can widen your customer pool without making major changes.

Planning Your Services

Using your target market to guide you, you can decide which services you’ll offer.

Do your target customers want basic facial waxing services, or are they also interested in the chest, back, and Brazilian wax options?

What do your competitors offer? How can you make your business stand out?

Most importantly, can you, as a new business owner, afford the overhead that comes with adding additional services to your menu?

In the hair removal industry, a company’s overhead reflects the services they offer. High-quality products aren’t cheap, but salon owners don’t skimp on their products.

Related: How to Start a Freelance Business

2. Handle the Legal Stuff

The fun part was in step one, but now it’s time to tackle the less-exciting side of the business: meeting your legal requirements.

First, you’ll need to register with the Internal Revenue Service to prove you’re a legitimate business.

Without an official designation, you won’t be able to get business insurance, permits, or licenses.

Choosing a Business Structure

As an independent contractor, you’ll likely register your business as a sole proprietorship or LLC.

Sole proprietors are individual business owners. The designation means you don’t and won’t have a partner, and your personal and business bank accounts are not connected. If you decide to leave the business or you die, the salon is no longer legally operable.

An LLC is a limited liability corporation. This gives you the opportunity to bring in partners and stakeholders but keeps everyone’s personal assets separate from the waxing salon business. If one person leaves, the company can stay in operation.

To complete the forms for your business entity, head to the self-employed section of the IRS website.

Obtaining an EIN

While you’re on the IRS website, go ahead and apply for an employee identification number (EIN). Make sure your business name matches the name you registered with the IRS.

An EIN allows you to hire employees and pay taxes. It also allows you to obtain business licenses.

(Your state and municipality determine which permits and business licenses you need, but you’ll likely need an EIN to obtain them.)

You can use your social security number in place of an EIN, but having this number gives you the option of hiring employees in the future.

If you aren’t sure where to start, check out Selfgood. This platform is designed for entrepreneurs like you, offering access to discounted legal and tax services.

3. Focus on Your Finances

You have the legal authority to start your own waxing business. Now it’s time to get real with your finances.

Starting with your budget, make a list of the expenses you’ll need to cover to get your business up and running. Then, make another list of all the monthly expenses you’ll have moving forward.

For instance, you’ll need software to manage your appointments and billing schedule. The right software will streamline your workflow, increase productivity, and boost profitability.

Check out some of the programs designed for beauty salons and body waxing services and add this cost to your budget.

Financing Options

How will you pay for those costs?

Taking out a loan or finding a grant is one option, and the Small Business Administration has plenty of advice for new entrepreneurs.

Grants for new business owners don’t have to be paid back, but there are stipulations on how you must spend the money. Even with restrictions, grants can save you from borrowing thousands of dollars.

The application process is time-consuming, but if you win any of them, it’s time well spent.

Whether you take out a loan or apply for grants, you will need a business plan. The application process can take months for both loans and grants, so start early.

Setting Rates

As you’re starting out, it makes financial sense to stick with a few popular offerings so you don’t have to pay for a lot of products. Think about the multiple services you can do with the same waxing supplies, and offer all of them at different rates.

Speaking of rates, this part is vital:

Don’t pick a random price for services and go with it.

Instead, come up with strategic prices based on your desired profit and the going rate in your area.

You might be tempted to undersell your competitors, yet this is a quick way to go out of business.

Offer the same high-quality service you already provide and charge competitive rates. You’ll start to build a loyal client base willing to pay a little more for services they can trust.

4. Begin Marketing

Marketingyour amazing business ideas

Advertising can seem overwhelming if this is your first time advertising. Start with one method that you’re comfortable with, such as a specific social media platform.

Evaluate your competitors, and design the branding for your company.

What do you want your business’s logo and image to look like?

What colors do you want to be associated with your waxing salon?

Do you know what your competitors are using, and is it working for them?

Start building your online presence slowly. It’s better to stick with one platform and do it well than to spread yourself so thin you lose consistency.

You might want to consider hiring a marketing agency. Professional marketers use search engine optimization (SEO) tactics to increase the visibility of your website and social media profiles.

Marketing agencies aren’t cheap, but their services pay for themselves over time.

Related: How to Design Freelance Business Cards

5. Fill in the Gaps Before Opening

Thingsappointments

Here are some questions to ask as you prepare for opening day:

Do you have all the essential insurance policies for your business (at least general liability and equipment coverage)?
Does your CRM have all your templates, updated services, and an accurate pricing structure?
Is your business checking account funded and ready to accept payments?
Have you updated your personal and work schedules to prevent overbooking yourself?
Do you have a release of liability template to give to customers before their service? (Liability waivers, or informed consent agreements, protect your salon from liability if there are any issues during the waxing. These can be created using the legal forms on Selfgood’s platform.)
Have you shopped around to make sure you’re getting the best rates from your suppliers? (Use your Alliance of Gig Workers membership to access discounted prices on hundreds of products.)