3 Reasons a Full-Service Salon & Day Spa Provides a Superior Business Model Over Stand-Alone Waxing Franchise Opportunities
If you’re considering stand-alone waxing franchise opportunities such as Waxing the City or European Wax Center, you may not realize that an “Everyday Luxury” Day Spa & Salon called A Moment’s Peace has the potential to offer you a faster ROI and similar up-front investment.
Broader Service Lines & One-Stop Convenience
The simplicity of the stand-alone waxing franchise opportunities is both a blessing and a curse. You’ll be sold on the idea that laser-targeting your business on waxing makes a lot of sense; the old “do one thing, do it very well” concept. But customers, particularly high-value 35-64 year old women at the peak of disposable income spending power, prefer the convenience of one-stop beauty and wellness care. Combining hair care, nails (manicure/pedicure), professional skin care, waxing, tanning and massage with one-stop convenience means your average customer goes from visiting every 3-4 weeks to every 1-2 weeks, and has a greater average lifetime value to the business. Overlay a unique retail experience to optimize impulse purchases and you’ve got a business model that continued growing even during the Great Recession.
It’s often well-known that women have great loyalty to an excellent hair stylist. But when her stylist, manicurist, aesthetician, and massage therapist are all in the same spot she’s not going anywhere.
Putting waxing in the context of a broader range of services creates greater loyalty, higher perceived value (and pricing flexibility) — getting you out of the “membership” business and into something more meaningful, and a more resilient business model. Waxing-only models have already figured this out and are scrambling to bolt on a wider range of services; too little, too late.
An Aspirational Brand & “Me Time” Oasis for Time-Starved, Over-Communicated Consumers
Imagine an escape that’s part of your weekly or bi-weekly routine; the “me time” you reserve out of the busy schedule, where the kids, work, and all the other pressures of the day stop at the door. It’s a place where your phone stays in your purse; some customers even leave them out in the car! A place you’d choose to be if you could be anywhere on any given day; a place you anticipate returning as soon as you leave; a place where you make time to relax, unwind, and recharge. That’s A Moment’s Peace Salon & Day Spa.
Comparing the Full-Service Salon & Day Spa Business Model Versus Stand-Alone Waxing Franchise Opportunities
As a franchise owner, you want a solid business model that provides the best ROI. The full-service Salon & Day Spa business model refined over the past 15 years by A Moment’s Peace offers greater diversity of services (hair care, nails, professional skin care, waxing, tanning and massage) all in one location — by design, rather than patching add-on services onto a stand-alone model that wasn’t built for it, with these advantages:
- a start-up cost the compares favorably to several stand-alone hair salon franchise opportunities…
- faster recovery of your up-front investment…
- higher long-term ROI and business valuation…
These advantages are achieved by providing a broader range of services to each customer; subsequently more frequent visits and greater LTV per customer.