Lunchbox Wax Franchise Review by Vetted Biz

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Lunchbox Wax Franchise
Lunchbox Wax Franchise

LunchboxWax is a premier waxing salon, they are extremely selective about everything from the employees to location. They have designed a proven waxing service that is followed up by specially formulated products to make the experience flawless – both at their salon and in client’s homes.

They are a full-service, speed-waxing salon that caters to both men and women who are selective when it comes to personal care. Offering a range of services to address any hair removal need. From brows to bums, cheeks to chest, they help guests get smooth and stay that way for weeks. Because waxing is all they do, their carefully selected and expertly trained “waxologists” are masters of their craft.

Management Team in a Waxing Salon

LunchboxWax CEO and Founder Debi Lane saw the need for a wax-only salon after owning and operating her multi-service day spa for years. In 2010, she launched LunchboxWax, and in 2013, the company started awarding franchises.

They take great pride in helping franchisees succeed at running their own waxing business, assisting with everything from site selection to ongoing mentorship and comprehensive training.

Franchise Health and Beauty Industry Analysis

LunchBoxWax: Waxing Salon Franchise Strengths

Operationally simple with all the “waxologists” already with their certifications.

Recurrent revenue streams.

Ability to have a manager run the day-to-day of the business.

Has a strong brand since they have been in the market for a few years.

Franchise Weaknesses

Reliant on skilled professionals to deliver the service that the customer expects.

Operates in a competitive environment with low barriers of entry.

Opportunities

Hair Removal marketa steady rise

84% of women in the U.S. wax (JAMA Dermatology).

In 2015 the beauty industry generated $56.2 billion in the United States (Statista).

massage

Threats

Other nearby competitiongrowing national chains

Consumer preferring another type of hair removal, such as shaving or laser hair removal.

Potential for consumers to do services at their own home.

How Much is a Lunchbox Wax Franchise?

LunchBox Franchise cost ranges from $340,850 to $469,800 according to the 2019 FDD

Cost Types Amount (in USD) When Due To Whom Payment is to Be Made
Low High
Franchise Fee $45,000 $45,000 Upon Signing Franchisor
Food, Lodging & Travel (2 to 4 people while training) 2,000 4,000 During training Hotels, retaurants, and arilines
Lease Deposit & 3 Months’ Rent 11,500 20,000 Monthly (with security deposit paid beofre opening) Landlord
Architectural Design 4,000 7,000 Before Opening Architect
Project Management Fee 10,000 10,000 At time you sign lease or purchase agreement for facility Franchisor
Build Out & Improvements 120,000 185,000 Before Opening Architects, cxontractors, suppliers
Signage 8,000 12,000 Before Opening Suppliers
Furniture, Fixtures & Equipment 60,000 70,000 Before Opening Suppliers
Computer/POS System 3,500 5,000 Before Opening Suppliers
Technology Fee (first 2 monthly installments prior to opening) 1,300 1,300 Before Opening Franchisor
Office Equipment 500 1,000 Before Opening Suppliers
Initial Supply of Inventory 3,000 4,000 Before Opening Suppliers
Initial Operating Supplies 15,000 17,000 Before Opening Suppliers
Grand Opening Marketing Fee 18,000 25,000 30 days before through 90 days after opening Affiliate and suppliers
Utility Deposits, Business Licenses & Other Prepaid Expenses 750 2,000 Before Opening Utility companies and government agencies
Professional Fees 2,500 5,000 Before Opening Lawyers & accountants
Insurance 800 1,500 Before Opening Insurance companies
Additional Funds (3 Months) 35,000 55,000 As incurred Suppliers and employees
Total $340,850 $469,800

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How Much does a Lunchbox Franchise make?

After 1 year of operation Top 1/3 Bottom 1/3
Average $366,811 $243,311
High $380,840 $258,264
Low $348,388 $232,003
Median $371,204 $239,667

Disclosure from FDD: “The following financial performance representation includes financial information about certain franchised LunchboxWax Salons that had been open at least 1 full year as of December 31, 2018. Our current franchise model contemplates a facility with 5 waxing suites. However, on rare occasion we may allow for a facility with 4 waxing suites. Historically we allowed facilities with 3 waxing suites but we do not anticipate granting any more franchises for facilities with 3 waxing suites.

Therefore, the financial performance data only includes data for facilities that have 5 waxing suites. The data for facilities with 3 and 4 waxing suites was excluded. Similarly, we did not include any data for our 3 affiliate-owned LunchboxWax Salons. In terms of affiliate- owned LunchboxWax Salons, 3 were open 1 year as of 12/31/18, 2 were open 2 years as of 12/31/18, 1 was open 3 years as of 12/31/18 and 0 were open 4 years as of 12/31/18.

The following table lists the number and allocation of franchised outlets as of December 31, 2018:”

Historical Gross Sales Data for Franchised Outlets

Disclosure from FDD: “The following table presents information regarding the average, high, low and median Gross Sales for the top 1/3 and bottom 1/3 of salons for each of the subsets listed in the table above for 5 suite salons. “Gross Sales” means all gross sums that you collect from all goods and services that you sell (including coupons, gift certificates and similar items), plus all other sums that you collect from the operation of your business, including the proceeds of any business interruption insurance.

“Gross Sales” does not include sales or use taxes, tips paid to your employees or amounts received and turned over to us or another administrator for the sale of gift cards, gift certificates and the like.”

Historical Gross Sales Data for Franchised Outlets

Projected Gross Sales, Expenses and Earnings

Disclosure from FDD: “The table on the following page presents information regarding the projected Gross Sales, expenses and earnings for the top 1/3 and bottom 1/3 of salons for 5-suite salons. Since future salons will be restricted to 5 or more suites, we have excluded the sales and expense data for any current salons with fewer than 5 suites.

“Total Revenues” has the same meaning as “Gross Sales” (as defined in the financial performance representation in Part A above). The expenses and earnings have been determined based on profit and loss reports submitted by franchisees.”

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