The multi-billion dollar business of tattoo removal is enjoying some recession-proof growth — with one LA-based clinic even planning on going public next year to help fund a national expansion plan.
“More than 40 million people have tattoos and about seven million, or 17 percent, are in the process of figuring out how to get rid of them,” said John Keefe, the CEO of Dr. Tattoff, a Californian tattoo removal clinic, who hopes to use the proceeds from a 2010 initial public offering to grow to a 10-location chain.
“More than 66 percent of those tattooed are between the ages of 25 and 45 and what was cool to them at 18 is an eyesore now that they are a mother with kids,” says Keefe. The executive said revenue per client is about $1,600 — which comes out to $40 per square inch, per laser treatment with an average of 10 treatments required. The average tattoo is four square inches, he said.
“It costs 10 times more to remove a tattoo than to put one on and it takes one year for safe and effective removal,” says Keefe.
The national market is currently fragmented, with dermatologists operating on a one-off basis and usually not dedicating their entire practice to tattoos removal.
The growing unemployment rate is also helping the company ink new business as job hunters feel the need to be competitive. Of course, many look to get rid of their tattoos because of personal taste — they may have simply fallen out of love with their tattoos or out of love with the name of the person indelibly inked on their arm.
And it’s not just dermatologists who are seeing increased business as folks look to hide their ink. Folks who can’t afford laser treatments are reaching for products on the cosmetics counter.
Smart Cover.com, a New Jersey-based online cosmetics brand, has seen sales soar 300 percent since 2007 — thanks in large part to its product designed to cover up tattoos. Executives at the company believe many of their customers use the product because their employers bar visible tattoos at work — but they still want to flaunt them on the weekend.
Laurie Ten Eyck, an advertising executive in New Paltz, NY, says that she is very happy with her tattoos and that they represent her “own a personal expression.” At work, Ten Eyck wears long sleeves and uses cover-up on the areas that can’t be covered by clothing.
Members of the Buffalo Jills, the cheerleading unit of the NFL’s Buffalo Bills, use cover-up because they are not allowed to show tattoos while in uniform. SmartCover is the official “camouflage” make-up of the Jills, which will be in Giants Stadium today in support of its team. If things go right, they will perform without blemish.