Nail salon franchises and waxing franchises can both offer high returns. See how the opportunities compare and find out which is the right fit for you.
Nail Salons
The nail salon industry is comprised of businesses providing services that range from manicures to pedicures to false nails, as well as the sale of nail care products like polishes, tools, and accessories. These products and services are predominantly provided by independent and franchised nail salons, but they are also offered through other businesses such as hotels, spas, and department stores.
Benefits of Owning a Nail Salon
A single nail salon can bring the owner between $40,000 to $75,000 a year in revenue. Because the business format is easily scalable, many owners opt to open multiple locations to capitalize on their potential. Within the broader beauty industry, nail salons are known for developing close connections with their customers, in part thanks to the “hands-on” approach. Many owners operate their businesses through daily interactions with customers and staff, ensuring professional engagement at every level.
Nail salon franchises require a limited staff, reducing labor costs to operate your business. Salons that rent space and time to outside nail technicians can further offset costs and perhaps attract different customers loyal to their nail artists.
Possible Drawbacks
When it comes to the nail business, there is stiff competition due to the high rate of individuals who are ready and willing to set up nail shops in their homes or open locations in your area. Many people are eager to open and run their salons because less capital is required. This can greatly over-saturate the market. For instance, in big cities, you are likely to see multiple nail salons offering similar services established just down the street from each other.
Nail salon franchise owners face significant challenges in maintaining a consistent customer base due to technicians changing location or shifting marketing strategies. Most of them have adopted new tactics to help get new customers, but they sometimes forget to offer incentives to reliable customers who have been there all along. After over a year spent in lockdown, many once-loyal customers have learned and adapted to at-home nail care solutions that no longer require the assistance of salon professionals.
There are currently an estimated 1.09 million hair and nail salons in operation across the United States, having seen a 1.7 percent decline from the previous year. The beauty industry is flooded with nail salons, so it might not be an ideal investment for prospective franchise owners hoping to secure a unique slice of the market. While the startup costs for opening a nail salon franchise may be on the lower end, the payoff can be hard-earned.
Waxing Franchises
Within the global beauty segment, the waxing industry accounts for $11 billion in sales of the overall $46 billion beauty services market, making it one of the most consistently lucrative portions of the industry. Unlike the nail care industry, waxing is perceived by many customers as a consistent, necessary self-care practice that they are less likely to give up for at-home alternatives, giving franchise owners a lucrative opportunity for consistent business.
A waxing business like Uni K Wax offers prospective investors the opportunity to partner with a proven, world-class brand that delivers on both reasonable investment costs and growable business. While other beauty concepts saturate the market, Uni K Wax paved the way in the waxing industry back in 1993 when founder Noemi Grupenmager created a proprietary wax recipe and a welcoming studio experience designed to welcome all customers seeking a world-class environment unlike any other beauty salon experience.
Explore Your Potential with Uni K Wax
Uni K Wax has been a mainstay in the beauty industry since its inception and strives to evolve and adapt to ever-changing customer needs, putting it at the top of the list of essential self-care businesses.
Uni K Wax and its franchise owners strive for sustainability and innovation in an ever-changing marketplace. If you would like to learn more about franchising opportunities in your area, please visit us.