Open a Beauty Supply Store
Here are some things to consider when you want to open a beauty supply store.
Contents
Steps
- Consider taking a few business classes at a local college or night school. Learn as much as you can before immersing yourself into the business world. Consider that you will be running a small business first, and a beauty company second. If you can't make it to any classes, find out as much as you can by using library books or search the internet for books on how to open a beauty supply store or beauty supply institutes as references.
- Identify your target market. Are you interested in selling luxury products, skin care products, hair products, or ethnic-focused products? The amount of products you sell can be increased once you begin to make a profit, but until then keep the lines your stock limited to a few solid and trusted brands, and maybe a few wild cards.
- Research different products, both in person at other beauty supply stores online. Find out what people like, and where you can obtain the most popular items cheapest wholesale.
- Begin to research locations for your store. Do you plan to have a physical local, or do you plan to limit yourself to the internet? Remember that it's best to start small. It's better to outgrow your remodeled garage than to have to downsize from your huge downtown rental.
- Keep track of everything. This includes budgets, product info, building and business permit info, everything . Keeping track of some things may seem meaningless now, but a few months down the line you will be happy you did.'
Tips
- Don't overstock with useless items just to fill shelf space. Quality matters more than quantity in this market. Carry what your clients will be looking for.
Warnings
- Don't go through the hassles of long applications and credit checks from suppliers just to get in business. Choose brands that will take an interest in your new venture and who will be willing to help you!
- Don't spend $10,000 on inventory when you first start, if you don't have double that set aside. Start small and grow as you see how things progress.
