Beauty and Self-Care Industries Surpass Pre-Pandemic Growth

Radiant Waxing: A Rising Star in a $450 Billion Market

Kelli Schroeder of WellBiz Brands Discusses the Rise of Beauty and Wellness Franchises

The beauty and self-care industry is back, no doubt about it. “In 2021, sales increased by 16% in the beauty and personal-care categories,” says Kelli Schroeder, vice president of franchise development for WellBiz Brands. “That surge wiped out all of the beauty and wellness industry’s 2020 pandemic-related losses,” says Schroeder, citing statistics from NPD Group, which tracks the U.S. retail landscape across 15 industries.

That upswing is confirmed by marketing data provider IRI, which set the self-care market at $450 billion. Statista, another leader in market-data gathering, pegs it higher, expecting the beauty and personal care market to top $646 billion this year. The WellBiz Brands portfolio’s hair-removal franchise, the Radiant Waxing brand, is riding that wave. The hair-removal industry is expected “to grow at a brisk pace of more than 3% year-over-year,” Schroeder says. The global market for waxing alone is expected to reach $4.5 billion by 2028, with a compound annual growth rate of 7.9% from 2022 to 2028, according to Report Linker figures.

That means a sunny forecast for the Radiant Waxing brand, where each client enjoys a spa-like experience in a relaxing, private room. The emerging brand has key advantages over competitors, Schroeder says. One is its proprietary pine-based soft wax that causes less inflammation and irritation. “Soft wax sticks to the skin so it removes the hair and top layer of dead skin, leaving the guest with exfoliated, smooth skin.”

Kelli Schroeder WellBiz Brands
Kelli Schroeder, vice president of franchise development for WellBiz Brands

Speedy Treatments

Radiant Waxing franchise business

Perhaps more significant for franchisees, the Radiant Waxing formula allows waxologists to complete treatments in just 15 minutes. Brisk turnover means treatment rooms can be used more times daily for increased profit potential. Recurring revenue is also a major draw. “You could say it is a constantly growing opportunity,” Schroeder says. “With the hair growth cycle, guests need to return every four to six weeks to maintain their smooth skin.”

Self-Care Surge

In addition, Schroeder points out that self-care franchises are Amazon-proof. “Online shoppers can’t add a blow-out, an eyebrow wax or a massage to their cart and have it dropped on their doorstep. Personal services such as hair care, lash extensions, waxing and therapeutic massages require personal contact with a skilled and, in many cases, licensed service provider.”

Schroeder thinks the pandemic fed today’s demand for self-care. “While people were staying home, they rediscovered the value of self-care. From 2019 to 2020, Google® showed a 250% increase in searches related to the topic. By 2022, 88% of Americans reported practicing self-care, and one-third said they have increased self-care behavior over the past year, according to ASD Market Week. While people were spending more time at home — working, studying, meditating — they also realized how much they missed the little luxuries that made them feel confident and beautiful.”

And that includes guys, Schroeder says. “Beauty standards for men have changed. Decades-long gender stereotypes have begun to break down, with men’s beauty products being created.” The global men’s personal-care market is expected to reach about $69 billion by 2030, a compound annual growth rate of 9.2%, says Schroeder, referring to a report from Straits Research.

About a third of Radiant Waxing guests are men, by design. In 2022 the company, called LunchboxWax® when it was founded in 2010, rebranded to a gender-neutral color scheme for its products and salons, which can operate out of only 1,400 square feet, reducing overhead.

WellBiz Brands

Radiant Waxing franchise business

Franchisees appreciate generous support from the experienced leadership team at WellBiz Brands, which has nearly 1,000 units operating across its brands: Amazing Lash Studio®, Drybar®,Elements Massage®, Fitness Together® and Radiant Waxing®. WellBiz Brands has its own distribution center, the Wellness & Vitality Exchange (WAVE), and develops private-label retail products for some of its brands. WAVE also delivers products to franchisees in two business days with free shipping.

The Radiant Waxing brand has 65 units in operation, nearly 50 in development and more than 800 territories still available. Top-performing Radiant Waxing franchises posted nearly $1 million in sales during 2022.

For more information about the Radiant Waxing franchise, visit https://www.radiantwaxing.com/franchise/.

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Mary Vinnedge is an award-winning journalist who has served as editor in chief, managing editor and senior editor at national and regional publications, including SUCCESS and Design NJ magazines. She also held reporting and editing roles at The Dallas Morning News and Charlotte Observer newspapers.

Before Mary began covering franchise news and trends as a staff writer for FranchiseWire and Franchise Consultant Magazine, she developed articles on topics ranging from lifestyle, education, health and science to home projects, horticulture, gardening, interior design and architecture. These articles included her reporting on academic news at her alma mater, Texas A&M University, when Mary worked in the marketing department of the Texas A&M Foundation. She continues to be a news junkie and subscribes to several publications.

Today Mary and her husband are empty nesters living on Galveston Island near Houston. The couple’s blended family – scattered around the United States – includes five children, four grandchildren and two very spoiled, very barky miniature schnauzer rescues.
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