The beauty industry is ever growing. As it does so, sub-industries develop as well and thrive. Such is the case of the aesthetic industry which grew exponentially in the past years. Although people tend to associate aesthetic with surgery, this niche entails much more than that. As a matter of fact, laser hair removal amongst others, does categorize as an aesthetic procedure. As demand increases, the number of laser spas does too. That is one reason why you should open your own laser spa
Laser spas are slowly but surely becoming strong competitors of waxing or threading places and other hair removal method. They are strong contenders and growing to be the hair removal option of choice for the good results the procedure offers. After all, shaving is a close-to daily task and waxing a monthly on. On the other hand, laser hair removal is done a few times over one year. After the laser treatment, expect long-term hair growth reduction or even permanent hair-free skin.
3 reasons why you should open your own laser spa
More and more people are ditching waxing and shaving for laser hair removal.Thus, it is time to look at the business opportunities there. A laser spa can also diversify in other laser treatments such as laser tattoo removal and fractional CO2 laser. They too are laser procedures gaining in popularity. Thus, opening your own laser spa seems to be a promising business venture. Now, we are giving three reasons why you should really give it a thought!
1. The laser hair removal market is growing
In 2018, the global laser hair removal market size was valued at USD 587.56 million. It is expected to expand at a CAGR of 15.9% from 2019 to 2026. Increasing demand for non-invasive hair removal procedures is indeed driving the market. In addition, improvements in laser technology as well as their reduced price will also help boost the demand for laser hair removal treatments. As a matter of fact, new technology is more efficient, more secure, safer and also cheaper.
Improvement in laser hair removal technology as well as the increasing number of laser machine providers has evened the playing field. There is more competition for laser machine manufacturers and thus they had to drive prices down. Laser spas were thus able to purchase machines that are cheaper, . Then, they are themselves able to decrease prices of laser hair removal treatments. As a result, more patients can afford the procedure and more are considering it, thus driving demand up.
Another reason behind the growth in demand for laser hair removal and other laser treatments is that technology improvements led to treating demographics that were otherwise excluded from getting laser treatments done. For example, for long we believed that people of colors as well as people with fair hair would not undergo laser hair removal. While this was true for safety and efficiency reasons in the past, it is not longer the case.
Technologies such as Nd:YAG lasers reach the hair follicle no matter the amount of pigments in the hair. Indeed, they do not rely too much on melanin to penetrate the skin layer. This laser makes laser hair removal safe and possible for dark skins. It also allows to target blonde, ginger and red hair. Making laser hair removal possible for a wider pool of customers will also drive the demand significantly, bringing new demographics to laser spas.
2. Laser treatment supply isn’t that high
The growing demand in laser hair removal services, including the expending customer pool, is one big reason to open your own laser spa. When launching a product or a service, it is important to assess the number of potential customers. Considering laser hair removal is something that both men and women do, that also increases your chances to reach out to a big market.
Although it is a market that is growing rapidly, the supply doesn’t increase as fast. This is mostly because opening your own laser spa seems like a very expensive and risky venture. It is true that the investment is significant and that is something we will touch on later. Back to our main point here is that even though the number of laser spas is increasing, the market is not saturated.
The Hair Loss Treatment and Removal Industry is currently in the growth stage of its life cycle. In the United States of America, it generates over $2 billion annually, with an estimated growth rate of 13.7 percent. There are about 18,657 registered and licensed hair loss treatment and removal salons in the United States and they are responsible for employing about 46,098 people.
Despite the rapid industry growth, there is still room big enough to accommodate aspiring entrepreneurs who want to open their own laser hair removal salons in the US. You will compete with a broad spectrum of hair removal providers including waxing, threading, sugaring, etc. However, if you do your due diligence, pick a good location and get on pretty quick with marketing, you will always make headway in the industry.
Thus, you will need to ensure a few things: laser spa reputation, performance, quality of laser services, marketing strategy efficiency, etc. At Vertex Lasers, we partner up with for our marketing strategy. They specialize in small businesses and count amongst clients Infinity Laser Spa and .
3. A laser spa has a high return on investment
Opening a laser spa does not come at no cost. Although it is not administratively heavy, opening your own laser spa will require a significant investment to begin with. You will need to register for a licence, sale tax ID, with the IRS, etc. Furthermore, you will need to pay the rent for a location, buy laser machines and take on a few other expenses.
The biggest expenses will be rent, laser machines and staff. You will want a good location with high footfall to ensure street visibility. Prime locations usually are more expensive. The second biggest expense when opening your own laser spa is laser machines. For example, a laser hair removal machine like our V-Frost can go from $39,000 up to $150,000, depending on the supplier.
As Vertex Lasers, we pride ourselves with America-designed, affordable and high quality laser machines. That is how we ensure small businesses and entrepreneurs can open their own laser spa. We also offer financing with leasing options so that you may lease a machine and pay the price back for a few years. You can find more information on our financing page here.
While the upfront cost of opening your own laser spa will be high, you must remember that return on investment will be high too. Competition will be tough but a good marketing and a good quality service will lift you up above the masses. The average price of a laser hair removal package ranges from $800 to $1,500. Once you start getting clients, the money will also come in. To ensure you get your first clients fast, pick a good location for your laser spa and hire a marketing executive who will know how to promote your business.
In Conclusion
If you are looking to opening a business, you should look at opening your own laser spa. Indeed, the market is ever growing. However, the competition although tough is still manageable with enough space for anyone to get in. Finally, the return on investment is very high once you get things up and running. Should you be looking for marketing advice to promote your laser spa, check out Happy Shark Media.