Do you want to start your own beauty company? You might dream of building a company like Kylie Jenner, who created a billion-dollar beauty brand. You might want to keep things simple and sell someone else’s beauty products. No matter what type of beauty business you want to have, you need to know how to start a beauty business.
There are a lot of things that go into a business and you have a lot of decisions to make. Read on to discover how to break into the beauty industry with your own business.
1. Define Your Business
There are countless different ways to start a beauty business. You could just be a freelancing hair or makeup stylist. You could be an affiliate or an influencer for a brand.
You can sell beauty products online or at a retail store. You can sell everything from skin cream to eyelash extensions.
Here’s another question you need to ask yourself. Is your business a side gig or is it your full-time business? What kind of lifestyle do you want to have while you run your business?
Building a business and having that as your sole source of income is hard. You might not be able to spend as much time with your family as you like. You need to know how much time and energy you can realistically devote to your business.
The reason why this is important to know upfront is that people think that it’s easy to start a business because they don’t need to report to an office.
2. Write Your Business Plan
Your business plan isn’t complicated. You need to have a few things down on paper. You need to research your competitors and know how your business is different.
You have to know who your target market is. Your target market has to be deeper than just women. You need to drill down to get details.
For instance, if you sell aging products, your target market is women aged 35-55 who fear looking too old or looking older than they really are. You may want to reach women who want to look as young as they act and feel.
Your next steps are to come up with financial spreadsheets. You need to draw up the costs to start the business, monthly operating expenses, and project how much revenue you’ll generate in the first few years.
3. Get Online
There is no doubt that you need to have an online presence. At the very least you need to have a website. People will want to know more about your business.
If you have a local business, then be sure to create a listing in Google. That will help you get listed in search results.
Did you know that 63% of consumers have more trust in brands that are on Instagram than those that aren’t? You can find a lot of creative ways to promote your beauty products on the social media platform.
Be sure to keep your look consistent with your brand and have fun with your followers. The more you respond to them, the more likely they’ll buy from you in the future.
4. Service Sets Your Business Apart
You need to set your business apart from all of the other beauty businesses out there. The best way to do that is to create a memorable customer experience. People are willing to pay more money if they get excellent service.
The other thing you can do to set your business apart is to anticipate trends and challenges. Businesses suffered a lot this year because of supply chain issues.
The supply chain is the chain that a product goes through. The raw products are grown or manufactured and sent to your product manufacturer. The product manufcturer ships the product to retailers or to your directly. You ship your products to distributors or customers.
As you can see, there are a lot of steps that a product goes through to get to the customer. Any break in the supply chain delays products and creates customer issues.
You can’t control every aspect of the supply chain, but you can anticipate issues. For instance, shipping takes longer during the holiday season. You can also keep products in stock in case manufacturers have issues.
5. Stay in Touch With Clients
The good news about starting a beauty business is that you will have plenty of repeat customers. Most people replenish their beauty supplies every few months.
Compare that to a big purchase like a car, where you’re lucky to have repeat customers every few years.
With that in mind, you need to make sure that you do your part to keep your customers happy. We already covered excellent customer service, but you also need to check in with clients periodically.
You can set up systems that email or text clients with a discount code on their birthday. Handwritten notes to clients to express your appreciation go a long way, too.
By continuously showing clients that you value them, you will have a full stable of happy clients that return for years. Add new clients on top of your regulars, and you have a thriving beauty business.
How to Start a Beauty Business the Right Way
Learning how to start a beauty business is a way to be an entrepreneur and make a living in an industry you love. It’s not as simple as setting up an Instagram account, but you can take the steps to create a business.
You need to begin by deciding what kind of business you want to have and what sets you apart. You can then market the business and provide outstanding service to your customers.
Check out the News tab at the top to learn some of the latest trends in health and wellness.