If you don’t plan and track your waxing salon budget properly, you're setting yourself up for failure.
When we developed our strategy pack for waxing salon owners, we saw a lot of salon owners struggling with finances and planning.
They were disorganized, had no grasp of cash flow, and were drowning in financial troubles despite having a steady stream of clients.
Don’t let this be you—stand out and succeed.
We’ve created a small, free tool to help you get started: our Budget Tracker and Planner. Let’s turn your waxing salon's finances around and set you on the path to success!
Get the budget tracker tailored for waxing salons
Most waxing salon owners don't know how to plan and track their budget. This spreadsheet will help you.
Example of a full budget for waxing salons
Here is an example of a (very) detailed budget for a waxing salon, to give you some inspiration
1. Rent and Utilities
Item | Description | Monthly Cost | Annual Cost |
---|---|---|---|
Rent | Lease for salon space | $3,000 | $36,000 |
Electricity | Power consumption for salon equipment and lighting | $500 | $6,000 |
Water | Water usage for client services | $150 | $1,800 |
Internet & Phone | Internet service and business phone | $100 | $1,200 |
Waste Removal | Garbage and recycling services | $80 | $960 |
Pest Control | Monthly pest control services | $50 | $600 |
Insurance | Property and liability insurance | $400 | $4,800 |
2. Salaries & Wages
Position | Number of Employees | Monthly Cost per Employee | Total Monthly Cost | Annual Cost |
---|---|---|---|---|
Salon Manager | 1 | $3,500 | $3,500 | $42,000 |
Senior Esthetician | 2 | $3,000 | $6,000 | $72,000 |
Junior Esthetician | 2 | $2,000 | $4,000 | $48,000 |
Receptionist | 1 | $2,000 | $2,000 | $24,000 |
3. Supplies & Inventory
Item | Description | Monthly Cost | Annual Cost |
---|---|---|---|
Waxing Supplies | Wax, strips, applicators, etc. | $1,500 | $18,000 |
Skincare Products | Lotions, oils, aftercare products | $800 | $9,600 |
Cleaning Supplies | Sanitizers, disinfectants, etc. | $200 | $2,400 |
Paper Goods | Paper towels, bed sheets, etc. | $150 | $1,800 |
Office Supplies | Stationery, pens, printer ink, etc. | $100 | $1,200 |
4. Marketing & Advertising
Item | Description | Monthly Cost | Annual Cost |
---|---|---|---|
Online Advertising | Google Ads, Facebook Ads, etc. | $300 | $3,600 |
Social Media Management | Managing social media accounts | $500 | $6,000 |
Print Advertising | Flyers, posters, newspaper ads | $150 | $1,800 |
Website Maintenance | Hosting, domain, updates | $100 | $1,200 |
Email Marketing | Email campaigns and newsletters | $150 | $1,800 |
Promotional Events | Special events and promotions | $200 | $2,400 |
5. Miscellaneous Expenses
Item | Description | Monthly Cost | Annual Cost |
---|---|---|---|
Equipment Maintenance | Regular maintenance of salon equipment | $300 | $3,600 |
Uniforms | Staff uniforms and aprons | $100 | $1,200 |
Licenses & Permits | Health permits, business licenses, etc. | $100 | $1,200 |
POS System | Point of Sale software and hardware | $150 | $1,800 |
Contingency Fund | Emergency repairs and unexpected costs | $300 | $3,600 |
Staff Training | Training programs and materials | $200 | $2,400 |
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What are the biggest expenses for a waxing salon?
Be mindful of these significant expenses. Here are five major costs every waxing salon owner needs to consider, along with some tips on how to manage them effectively.
- Wax and skincare productsThese can take up a substantial portion of your budget. You're dealing with consumables, and prices can vary based on quality, brand, and supplier. To keep these costs in check, focus on inventory management, negotiate better prices with suppliers, and minimize waste. It's easy to overspend by buying too much or opting for premium products that don’t add enough value.
- Your salon staffYour staff is your backbone, but paying for their wages, benefits, and training can be expensive. This cost is always high because you need a certain number of employees to provide excellent service and keep things running smoothly. You can optimize labor costs by scheduling efficiently, cross-training staff, and monitoring productivity. However, be careful not to underpay or overwork your staff, as this can lead to high turnover and poor service.
- Rent and utilities of your salonPrime locations come with high rent, but they can attract more clients. Utilities like electricity, water, and heating are essential but add up quickly. To optimize these costs, negotiate favorable lease terms and invest in energy-efficient appliances and lighting. Overspending often happens when you choose a location that's too large or too luxurious for your needs.
- MarketingYou need to get the word out about your salon, but advertising can be pricey, whether it's online ads, social media campaigns, or traditional media. Optimize this expense by focusing on cost-effective methods like the ones we provide in our pack. Overspending can happen if you invest in flashy campaigns without a clear return on investment.
- Salon equipment and maintenance costsThis includes everything from waxing tables to sterilization equipment. These are expensive because quality equipment and regular maintenance are crucial for smooth operations and client satisfaction. Optimize by investing in durable, energy-efficient equipment and maintaining it regularly to avoid costly breakdowns. You can overspend by going for the latest high-tech gadgets you don’t really need.
How to spend less with your waxing salon?
Here are practical tips to help you, as a waxing salon owner, optimize your budget and manage expenses more effectively.
Expense | Tips to Optimize |
---|---|
Waxing Supplies | Partner with reputable suppliers for bulk purchases of wax and other essential products to get better rates. |
Labor Costs | Implement a scheduling software to optimize staff hours and reduce overtime, ensuring you have the right number of technicians during peak and off-peak times. |
Utilities | Install energy-efficient lighting and equipment to reduce electricity costs. Consider using timers for heating devices to avoid unnecessary energy consumption. |
Marketing | Run social media contests for your waxing salon and collaborate with local influencers for free exposure. Offer referral discounts to existing clients. |
Cleaning Supplies | Train staff on efficient use of cleaning supplies to reduce waste and ensure a hygienic environment. |
Equipment Maintenance | Set up a maintenance log for regular checks and servicing of waxing equipment to extend their lifespan and avoid costly repairs. |
Rent/Mortgage | Negotiate lease terms during renewal or consider moving to a less expensive location that still attracts your target clientele. |
Insurance | Regularly review insurance policies to ensure they meet current needs and compare rates annually to get the best deal. |
Packaging | Use cost-effective, eco-friendly packaging for any take-home products and offer discounts for customers bringing their own containers. |
Uniforms | Choose durable, easy-to-clean uniforms and offer staff a stipend for maintenance instead of using an external service. |
POS System | Choose a POS system that offers essential features with low transaction fees and integrates with other systems like appointment scheduling software. |
Staff Training | Conduct regular in-house training sessions and use free online resources to keep your team updated on the latest techniques and customer service skills. |
Waste Management | Implement a waste tracking system to minimize waste and ensure proper disposal of used waxing materials. |
Technology | Invest in multi-functional waxing equipment and utilize salon management software for appointments and client records. |
Linen and Laundry | Partner with a cost-effective linen service and consider reusable, easy-to-clean towels and sheets. |
Licensing and Permits | Stay up-to-date with local regulations to avoid fines and costly renewals. Ensure all staff have the necessary certifications. |
Transportation | Plan supply delivery routes to maximize efficiency and reduce fuel costs. Consider local suppliers to minimize transportation expenses. |
Office Supplies | Purchase supplies in bulk and go paperless where possible with digital appointment and record-keeping systems. |
Inventory Management | Use inventory management software to track stock levels and reduce spoilage of waxing products. |
Pest Control | Schedule monthly pest control services and maintain cleanliness standards to prevent infestations. |
Music and Entertainment | Use a streaming service for background music to create a relaxing atmosphere for clients. |
Copy the tactics of the best waxing salons in the world!
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Expenses that are just useless for a waxing salon
Yes, some expenses for your waxing salon are just unnecessary. They don't contribute to increasing revenue or improving client satisfaction.
Salon Expense | Reason It's Useless |
---|---|
Luxurious Decor | Overly extravagant decor doesn't necessarily attract more clients and can be a drain on the budget. |
Premium Wax Brands | Unless you cater to a high-end clientele, most clients are satisfied with quality mid-range wax products. |
Excessive Service Options | A large variety of services increases inventory costs and can lead to more product waste. |
High-End Equipment | Top-of-the-line waxing equipment is not always necessary and can be cost-prohibitive. |
Paper Advertising | Traditional paper ads often have a lower return on investment. Don’t include them in the marketing strategy of your salon. |
Multiple Uniform Styles | Having various uniform styles increases costs without adding significant value to the client experience. |
Excessive Staff | Overstaffing leads to higher labor costs without necessarily improving service quality. |
Premium Subscription Services | Expensive subscriptions for music or magazines often go unnoticed by clients. |
Exclusive Ingredients | Using rare ingredients in your products can inflate costs and complicate supply chains. |
Costly Furniture | High-end furniture is not always appreciated by clients and can be a significant expense. |
Custom Printed Towels | Personalized towels are a minor detail that most clients overlook, and they can be expensive. |
Unnecessary Software | Paying for software with features you don’t use is a waste of resources. |
Premium Water Brands | Most clients are content with filtered tap water, making expensive bottled water unnecessary. |
Extra Service Vehicles | Maintaining a larger fleet than needed increases operational costs. |
Excessive Membership Fees | Paying for multiple industry memberships often yields little benefit. |
Overly Frequent Renovations | Constantly updating decor and layout can be costly and disrupt operations. |
Expensive Centerpieces | Elaborate centerpieces are often ignored by clients and add to the cost. |
High-End Tools | Luxury tools are prone to damage and expensive to replace, often going unnoticed by clients. |
Excessive Staff Meetings | Too many meetings can reduce productivity and increase labor costs. |
Expensive Brochure Designs | Frequently redesigning brochures is costly and often unnecessary. |
Unused Promotional Materials | Ordering more promotional items than needed leads to waste and unnecessary expense. Get our marketing budget planner template. |
Paid Directory Listings | Many free listing options are available, making paid listings often redundant. |
High-End Treatment Equipment | Specialized treatment equipment is often unnecessary and adds to costs without a proportional benefit. |
Stop working with a tight budget for your waxing salon!
Managing a budget for a waxing salon when funds are tight can feel like a nightmare. It's like being trapped in a cycle where any unexpected expense can throw you off balance.
This constant pressure makes it nearly impossible to invest in growth projects, leaving you always chasing after expenses. It's a life filled with stress and sleepless nights.
Yes, you can continue down this path, scraping together pennies and barely making ends meet. But there's another part of the equation you might be overlooking. Instead of just trying to cut costs, you can focus on growing your revenue. More income means more breathing room and more money to spend.
And no, you don't necessarily have to spend money to grow. There are plenty of zero-cost initiatives and strategies that can help you increase your revenue by 10%, 20%, or more. We've detailed all of these strategies in our guides, after studying dozens of waxing salons just like yours. Get them now!
Make your waxing salon more profitable
We have studied the strategies of the best waxing salons in the world. All their tactics are explained in our pack!