Opening a laser hair removal business at a time when self-care is on the rise and when smooth skin is in high demand seems like a great opportunity. Laser hair removal franchise opportunities are out there. How hard is it to start a laser hair removal business? What are the key ingredients to make a laser hair removal franchise thrive and how long does that take? We may be able to answer some of these questions by taking a look at the laser hair removal industry itself.
Dialing in on the Laser Hair Removal Business
According to Grandview Research, the global market size of the laser hair removal industry was $798.6 million in 2021 with an expected compound annual growth rate (CAGR) of 18.4% between 2022 and 2030. This impressive anticipated growth is due to a few factors:
- Growing technological advancements for more effective results
- Shifting trend toward a beauty aesthetic that minimizes body hair growth, and is paired with an emphasis on grooming as an element of self-care
- Greater access to laser hair removal through medical spas and laser hair removal businesses as opposed to medical-only facilities as certification and education on lasers becomes more widespread
In the United States, the laser hair removal market is forecast to reach $205 million by 2024. How many Americans are choosing laser hair removal? That’s a more difficult number to dial in. This is because laser hair removal cannot be completed in a single session, and can take as many as 12 treatments to satisfactorily remove unwanted hair. The American Society of Plastic Surgeons tracks cosmetic procedures each year, and while they don’t track the number of patients, they do track the number of procedures. In 2019, there were just over 1 million laser hair removal procedures performed in the US. The demand is there, but the hard part in how to open a laser hair removal business comes in when entrepreneurs consider the certifications required. Laser hair removal can be a highly regulated industry, depending on the state in which the business is located. Some states require only a high school diploma or equivalency to obtain a license for laser hair removal. Other states will allow only medically trained personnel to apply for licensing and certification to operate lasers for hair removal and other aesthetic applications. These requirements can become even more complicated when the state also requires specific licensure for the laser hair removal business as well. Another potential obstacle to the opening of a laser hair removal franchise is the cost of the laser equipment. Each unit can run between $70,000 and $100,000. These are complex machines, and the more advanced the technology, typically the higher the price tag. Often, the lasers are so expensive because they must be capable of combining multiple light wavelengths to encompass a wide range of hair types. This allows the laser hair removal business to serve a wider variety of clientele with more successful results. Unfortunately, that can raise the initial expense of opening the business.
Effectiveness of the Laser Hair Removal Business
The next question entrepreneurs must consider when opening a laser hair removal business is how consistently they’ll be able to produce effective final results for their customers. From the consumer perspective, laser hair removal is considered an expensive method of removing unwanted hair, with an average cost between $200 and $1,600 according to GoodRx. Over a lifetime, laser hair removal is the cheapest solution because it’s a finite expense. Shaving and waxing are continuing expenses because the hair will keep growing back, while laser hair removal promises near-permanent results. But is it really permanent? Reputable laser hair removal specialists have a fine print that states their procedures cannot completely remove unwanted hair permanently. The “reasonable expectation” is 80%-90% hair reduction with maintenance visits every 6-12 months to keep unwanted hair from returning. Some people with fluctuating hormones or certain health conditions may see an increase in hair growth after laser hair removal treatments.
Owning a Sugaring Franchise like L.A. Bikini May Be a Better Alternative
So then, is starting a laser hair removal business the way forward? If laser hair removal isn’t a permanent solution for the client, are they achieving their aesthetic goals for a reasonable price? Perhaps there’s a more affordable solution, like an L.A. Bikini sugaring franchise. Our franchise model is a less complicated alternative to the laser hair removal business, with a significantly smaller initial investment estimate of between $306,750 and $433,000. This is thanks to an entirely different equipment expectation and licensing requirement. As part of the L.A. Bikini sugaring franchise, not only do our franchise owners receive extensive initial training during the opening phase of their franchise location, but we never stop supporting our franchisees and their sugarists. Quarterly video training sessions keep the L.A. Bikini sugarists across the US up-to-date on the highest of sugaring standards and techniques that have made L.A. Bikini a powerhouse brand in the hair removal industry. We make it easy for sugarists and franchisees with L.A. Bikini to keep current with continuing education. In addition to keeping licensing, certification, and continuing education as pain-free as possible, L.A. Bikini works with one of the best sugar paste vendors available. We stock one of the best pastes on the market—it’s so good, it’s edible!. Because sugaring is a lot less complex than laser hair removal businesses, our paste requires a lot less equipment to be effective. While yes, sugaring does require our clients to return for continued hair removal, technically, so does laser hair removal. By setting the correct expectations for our clients, we develop a much more honest relationship with our customers built around trust. That, in conjunction with our membership program for loyalty discounts, ensures a steady stream of revenue for our franchisees and builds customer retention. So consider, instead of a laser hair removal business that requires a large outlay of investment capital and a shaky promise of results, a streamlined business that runs smoothly, with a brand that truly understands hair removal and the customer’s desire for smooth, hair-free skin. Contact L.A. Bikini’s franchise development team for more information!