If you’re here, that means you need to understand the financials. Which are my speciality, in fact when I started this business – it was the financials that made this an instant decision for me in 2010 before I had any business name, concept, strategy or any remote clue how I was going to build the empire you see today.
It’s not hard to google ” Teeth Whitening Industry Revenue Statistics” and get a slough of reputable reports and stats that show you a booming industry. In fact, Statista shows that teeth whitening is on the rise from a 6 billion dollar industry to 8 billion over the next 4 years. Yeah, it’s growing!
What exactly does that mean? That means that consumers spend billions of dollars a year on teeth whitening. This also means there’s a greater need to provide solutions. Consumers pay for solutions. So if you have any doubts about whether or not you can even make money in this industry – that fact alone is enough to silence the doubts because the numbers don’t lie.
We all know that in order to make money, you gotta spend money. Start up costs for businesses can sometimes range from $0 to hundreds of thousands if not millions.
I’m pretty sure if you’re reading this, you (like me when I started) don’t have hundreds of thousands or millions to start a business. Nor do you even have the time to wait for your business to be profitable (which is 3 years!).
This is where the beauty industry and specifically teeth whitening is a whole different ball game.
Start up costs can often range from $1000 to $5000 or more in the beauty industry, but what sets this industry apart from any other is the often quick return.
While start ups don’t often expect to make back their investment until years in their businesses, beauty services often see returns within weeks to months of starting up.
Teeth Whitening is one of those services.
What makes that return so damn quick? The profit margins. Scroll down to see exactly how much you can make with 1, 2 or 5 appointments per day!
Profit margins are what you make between the cost of your services and the amount you charge per client. Teeth whitening has OVER 50% percent profit margin. Which means you make double your cost (it’s actually way more). Did you know that according to Investopedia, a GOOD margin is between 7-10%?
*Insert SHEESH sound here* Yeah.
To put this in slightly simpler terms, let’s say that cost of your services is $10 (which, Teeth Whitening is actually lower btw) and your retail price for services is $125 (which, Teeth Whitening is). That means your margin is 92%. So even if you increased your expenses, invest in your studios, invested in your advertising etc – you have LOTS of room without even dipping below 50%. Calculate it for yourself here.
This is practically unmatched.
Oh, and don’t even get us started on when you add MULTIPLE systems and do more than one person at once *DOUBLE SHEESH*.
So, at this point – you’ve got a good grasp on the numbers and can see this industry speaks for itself. All the other perks like being your own boss, making your own schedule, creating a legacy, building your future, paying off debts, living your best damn life – well, we don’t need to convince you of any of that, it’s the side effect that naturally occurs with creating your own business.
If you’re ready to put in the work and build your business, join us today by purchasing any of our starter kits – but check out this JUICY offer (THERES LITERALLY ONLY 5 OF THESE AVAILABLE) if you want to take advantage of a stupid good offer while it lasts.
If you’re worried about what it takes to start a business? Don’t be, all of our starter kits include access to the resource centre. Your resource centre has you covered with everything you need from coaching videos on mindset and marketing to pre made social media posts and how to create graphics in Canva – the only thing you gotta bring to the table is your hustle and heart because no one can put in the work to create your business, that’s all you boo.