How to Calculate ROI for Your Waxing Business

 

The secret to a successful business? Passion, a superb ability to remove hair, and a profit-driven mindset. Estheticians have the first two, but you must learn the science of business ROI to meet your goals. This means comparing how much you spend on what goes into your waxing services versus how much of a profit you’re making. 

What is ROI?

Return on Investment (ROI) measures the gain or loss generated on an investment versus the amount of money you’ve put in. Expressed as a percentage, this formula helps show which aspects of your businesses are doing well or need improvement. 

A profit margin, or earning more than you’re spending, is essential for your business’s long-term sustainability. Understanding your business ROI assists in making informed decisions about where to allocate resources for healthy growth.