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Radiant Waxing Franchise Costs $358K – $525K (2024 Fees & Profits)

Radiant Waxing, originally known as LunchboxWax, launched in 2011 and embarked on its franchising journey in 2013. It’s celebrated for its expertise in waxing services, setting itself apart in the beauty and wellness sector with its modern aesthetic and superior customer service.

The brand prides itself on offering a distinctive experience to its clients, facilitated by highly trained experts referred to as waxologists.

Under the management of WellBiz Brands, Inc., Radiant Waxing underwent a strategic branding overhaul to widen its market presence. This shift was guided by insights from consumer studies, aiming to attract a more diverse clientele in the burgeoning international beauty industry.

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Initial investment

Type of ExpenditureAmount
Initial Franchise Fee$50,000
Real Property, Utility, Security, and Other Deposits$5,000 to $15,000
Leasehold Improvements (net of landlord tenant allowances)$135,000 to $230,000
Cabinetry and Millwork$47,307 to $53,375
Initial Service and Retail Supplies Inventory$22,000 to $29,000
Furniture, Décor, Lighting, and Other Equipment$7,000 to $16,019
Initial Software Set-Up and Technology Fees$2,306
Computer System & Other A/V Technology$22,069
Training Program$3,500 to $4,500
Architect, Engineer, Drawings$12,600
Grand Opening Spend Requirement$15,000
Signage$5,000 to $14,883
Office and Business Supplies$3,000 to $5,000
Business Licenses and Permits$750 to $2,000
Insurance Premiums (Initial 20% Payment)$1,007
Professional Fees$1,800 to $12,300
Additional Funds (Three Months)$25,000 to $40,000
Total$358,339 to $525,059

Note: The table above provides a snapshot of the main costs associated with starting the most common franchise format (as disclosed in the Item 7 of the Franchise Disclosure Document). For a complete overview of all the expenses involved with the various formats offered by the franchisor, please consult the Franchise Disclosure Document.

Franchise fees & Royalties

Franchise Entry Fee

This initial charge is applied and typically settled upon the signing of the franchise agreement, with no option for refund. The fees can vary, generally falling between $44,500 and $50,000.

Ongoing Royalty Charge

This is set at 6% of the franchisee’s gross income, payable on a regular basis, either monthly or twice a month, dependent on the gross earnings of the franchise.

Brand Promotion Contribution

A contribution of 2% of gross earnings is required for the brand marketing fund, with the franchisor retaining the option to increase this fee.

Local Marketing Contribution

Franchisees are required to allocate $2,000 monthly towards local advertising efforts, a figure that the franchisor can choose to increase.

Technology Support Fee

A monthly fee of $725 is charged to cover technological services, which may include website or email hosting, technical support, software or web development, and enterprise solutions.

Ownership Transfer Charge

Should there be a sale or transfer of the salon’s ownership, a fee equivalent to 50% of the prevailing initial franchise fee is imposed for new franchises, though certain concessions may apply for minor changes in ownership stakes.

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How to apply

1. Research and Initial Inquiry

  • Understand the Brand: Start by thoroughly researching the Radiant Waxing brand, its market position, and its unique selling points in the beauty and wellness industry.
  • Initial Contact: Reach out to Radiant Waxing through their official website or contact details to express your interest in opening a franchise. They typically have a form or a specific process for potential franchisees to submit their initial inquiries.

2. Initial Discussion and Qualification

  • Franchise Disclosure Document (FDD): After initial contact, you will likely be provided with the Franchise Disclosure Document, which contains critical information about the franchisor, the franchise system, and the legal and financial terms.
  • Qualification: The franchisor will want to assess your qualifications, including your business experience, financial capacity, and compatibility with the brand’s values and customer service standards.

3. Financial Review and Planning

  • Investment Overview: Review the financial requirements, including the initial franchise fee, ongoing royalty fees, marketing fund contributions, and other operational costs outlined in the FDD.
  • Funding: Determine how you will finance your franchise, whether through personal savings, loans, or other financing options.

4. Site Selection and Approval

  • Location: Work with the franchisor to identify a suitable location for your Radiant Waxing salon. The franchisor may provide guidelines and support for site selection to ensure the location meets their brand standards and market research.
  • Lease Negotiation: Once a location is selected, negotiate the lease terms with the landlord, often with assistance or guidance from the franchisor.

5. Training and Support

  • Training Programs: Participate in the franchisor’s training programs, which typically cover operational procedures, service standards, customer service, and business management.
  • Operational Support: Take advantage of the support provided by the franchisor, which may include salon design, marketing strategies, and ongoing operational advice.

Disclaimer

Disclaimer: This content has been made for informational and educational purposes only. We do not make any representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the information presented in the article. You should not construe any such information or other material as legal, tax, investment, financial, or other professional advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any franchises, securities, or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the franchise and/or securities laws of such jurisdiction.

All content in this article is information of a general nature and does not address the detailed circumstances of any particular individual or entity. Nothing in the article constitutes professional and/or financial and/or legal advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content in this article before making any decisions based on such information or other content.

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