The beauty business is an industry that is in constant increase, and the demand for beauty products is ever-growing. So, if you’re a beauty, makeup, or cosmetic enthusiast, starting your own beauty business might be a dream come true for you. The recent COVID pandemic has made many entrepreneurs switch to online businesses, as opposed to previous, more traditional forms of brick-and-mortar stores. There are many advantages to this contemporary form of business, only if you know how to conduct your business accordingly. If you’re interested in this field and would like to start your own business, take a look at how to found an online beauty supply store.
1. Decide on the business model
If you’ve decided to start your own beauty business, the next thing you need to decide is the business model under which you’re going to work. There are a few options.
White label model: In this model, products are made by one specific company. It is done without labelling the products. These products are then sold to different resellers, who can put their labels on the products. It is a fast way to move from an idea to doing business.
Dropshipping model: Another model you can use for selling products as part of your business is called the dropshipping model. In this model, different businesses sell products without having the actual inventory. It works like this: a shopper finds products on your website or platform that they want to purchase. After that, the supplier gets notified about this from you as the seller. Then they send the products to the customers. That is an ideal model for small businesses as it doesn’t require renting a warehouse or developing complex logistics.
Manufacturing model: This business model is all about manufacturing the products exclusively, which gives you the right to sell these products under your brand name. Although, finding trustworthy and reliable manufacturers can be quite challenging.
Wholesaling and warehousing model: This is a model in which you purchase certain products, store them in your warehouse and sell them. It is the most challenging one as you need a warehouse as well as inventory management tools. But it also gives you full control over the whole process.
2. Build a platform for your online store
The step that follows your decision on the business model is building a website or a platform where you will present your products to customers. Selling cosmetics online can be a profitable and enjoyable business, as long as you know a few tips and tricks. As far as the website or platform is concerned, it must be user-friendly, easy to navigate and shows products that are true to themselves.
3. Pick the products you want to sell
Finally, it’s time for choosing the products you want to sell. Think about whether you want to focus on particular categories or just specific products. It’s a good idea to start with a few things, and then build on and expand your offer in time. You can consider whether your scope will include products for only males, females, or both. You can think about whether you want to focus on hair products, skin products, makeup, or any other given type of product.
4. Connect to your customers
After you’ve done all of the steps previously mentioned, you should try to reach your customers. How are you going to do that? Well, there are several ways. For starters, you should use the advantages that the internet offers through social networking sites. In that way, you can let your customers know about the products you’re selling and different promotions, sales and changes in your business. Popular methods of doing this include writing blogs, posting various things on Instagram, Facebook and Twitter and filming some useful videos or tutorials on a YT channel.
5. Advertise your products
And finally, a step we mustn’t forget – marketing. Advertising has played a crucial role in the success of businesses since a long time ago. As this is the key, you should hire professionals to help you carry it out in the right way. Even though it is going to cost you initially, it is an investment into the future of your business, so you shouldn’t skip it.
Take all of these things into consideration, get productive, start being independent, and your boss – when you do it, you’ll never want to work for somebody else ever again.
Alison Pearson is an interior design student. She is a writer and designer, but her ultimate passion is fashion and beauty industry. She is also a bibliophile and her favourite book is “The Sound and the Fury” by William Faulkner. Follow her on Twitter.