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Alex Lieberman shares a free business idea: taking the successful business model of European Wax Center and applying it to another service. The podcast explores the history, growth, and unique aspects of European Wax Center, highlighting its potential for scalability and creating standardized services. It also discusses potential business ideas in industries like manicure and pedicure, stretching studios, and centralized daycare.
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Quick takeaways
- The European WAX Center's subscription model, combined with the low skill level required for waxing, has contributed to its success in dominating the waxing industry.
- The European WAX Center's business model of providing standardized services in a fragmented market can be applied to other industries such as children's daycare, offering potential for success and scalability.
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European WAX Center: A Successful Example of a Brand in a Fragmented Industry
European WAX Center is a highly successful brand in the waxing industry, which is predominantly made up of small, independent businesses. The company offers waxing services, skincare products, and body products in their 878 franchise locations across the US. With $910 million in revenue, European WAX Center dominates the market, being 11 times larger than its closest competitor. The business operates on a subscription model called WAX Pass, where customers prepay for their waxing treatments. This recurring revenue model, combined with the low skill level required for waxing, has contributed to the brand's success.
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