Tuesday, June 6, 2017

Wax like a boss - Part 3

Waxing like a boss is about monitoring and increasing your wax service profits.

Waxing services can be a highly profitable segment of your income.And they are especially popular as we move into summer. Everyone wants to look their beach body best... gals and guys.

To help make sure you are maximizing your profits Cirepil created a return on investment chart. It shows you typical cost per area to do the waxing and then based on what you charge, your profitability. 

Did you know that you can get 100 brow waxes out of one 400 gram tin of wax?  And your cost is only $0.67! Low fees for a brow wax run $10.00, moderate $15.00 and higher end $20.00.  Your profits for those 100 brows ranges from $933 to $1933 and it only takes about 10 minutes per client.

Here are 6 tips to maximize your waxing profits...

1)      Larger bags reduce cost per gram.
The MSRP on a 400-gram bag of Blue is $21.50 this comes out to 0.0538/gram. If you buy the 800-gram bag of blue at MSRP $38.80 the price drops to 0.0485/.gram. Or for the 3750-gram bag, the MSRP at $149.00 the price reduces to 0.0397/gram. 
If you take advantage of product specials the price again reduces per gram. Ordering by the case drops the price even more.

2)      Quantity purchases reduce shipping costs.
Esthetics NW ships at a flat rate fee of $8.50. If you buy multiple bags in the same order, you cost per bag including shipping drops.

3)      Evaluate your pricing.
Cirepil uses typical pricing for clinics who charge "low", "moderate" or "high" fees. If you are a moderate or upscale clinic charging what a "budget" facility does - it's time to give yourself a raise. It doesn't take much of a price bump to make a significant difference in your bottom line.

4)      Price based on wax choice.
If you prefer to use a non-strip wax only, keep in mind that larger body areas need to be priced accordingly. It is going to take more time and wax to do legs with a non-strip wax than a strip wax. Charge more. 
This is not a new concept. Back in the 90s, people who were specializing in no-strip waxes for full legs were charging twice as much. It costs more to do the service but those with sensitive skins will love the option to be more comfortable.
Consider using Euroblonde or Cashmere for the larger areas. These two waxes go on more thin and are designed to handle large area waxing.

5)      Schedule the next visit upon checkout.
Pre-scheduling helps you keep the client on track making removal predictable and consistent. It also assures them they will get their preferred time-slot. 
Consider securing all appointments with a credit card to avoid "no-shows".

6)      Value added services are worth more.
Cirepil has protocols and promotes making waxing a happy experience. Adding that extra step or two enhances value in the eyes of the client. Most of us would happily pay a little more if we can make waxing more comfortable and successful.

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