Breaking into the beauty industry can be as challenging as its sister industry, fashion design, but that doesn’t mean you shouldn’t follow your passions. It can be incredibly rewarding to open up a beauty business, and with the right advice, you can grow and scale it into a profitable empire.
10 Steps You Need to Take to Start a Beauty Business
Starting a beauty business can be a rewarding and lucrative endeavor, but it requires careful planning and hard work. Here are some steps you can take to start and grow your company.
Step 1: Develop a Clear Business Plan
A business plan is a document that defines your objectives and goals. In this document, you’ll determine what products or services you’ll offer, your target market, and how you’ll reach and serve them. Then, you’ll consider factors such as location, pricing, and marketing strategies.
Step 2: Choose a Profitable Niche
There are hundreds of profitable niches in the beauty industry. To choose one, look at common customer pain points, your skills, and whether there’s demand for your products or services. For example, if you want to pursue esthiology as a career, you’ll need to be certified beforehand.
Step 3: Hire a Lawyer and Get a License
Depending on your location and the type of business you are starting, you may need to obtain licenses or permits to operate legally. While a lawyer isn’t necessary for all business types, they’re required if you want to satisfy FDA requirements for cosmetics and skincare products.
Step 4: Design Your Logo and Branding
All great beauty brands start with a memorable and catchy name because it sets the tone for the rest of your branding. The visuals in your brand, such as your logo, colors, typography, and images, should reflect your business’s identity and appear in all of your marketing media.
Step 5: Make and Test Your Products
If your brand is selling products, create and test them before you build any buzz. There’s a possibility your products won’t work as intended or ever be available to customers, so it’s better to wait. Once you’re past the first testing phase, you can hire influencers to try your products.
Step 6: Find Your Partners and Employees
All business owners need a high-performing team if they want to succeed. Beauty businesses should partner with labs, fulfillment warehouses, eCommerce platforms, and other stores (if they don’t want to open their own). After this step, they can set competitive prices for their products.
Step 7: Develop a Web Presence
A well-designed website can serve as the hub of your online presence and help you attract customers. Social media platforms, like Instagram and Facebook, will connect you with potential customers. Make sure to post regularly on all your platforms to keep your audience engaged.
Step 8: Network With Influencers
Attend in-person and online industry events to connect with other beauty professionals and make valuable connections. Through your network, you can find new business opportunities and learn from industry veterans. They may even become partners who sell your services.
Step 9: Focus on Customer Service
Excellent customer service is the key to building a loyal customer base. If you want to grow your company, respond to customer inquiries or complaints promptly and in a respectful manner. Go above and beyond to ensure that your customers are satisfied with your products or services.
Step 10: Expand Your Catalog or Offerings
As you grow, expand your product catalog or offer new services. Not only will this practice meet the changing needs of your customers, but it’ll also keep your business fresh and relevant. Plus, a new product or service gives you an excuse to market it, further expanding your reach.