5 TIPS ON STARTING A HAIR EXTENSION OR BEAUTY BUSINESS
The hair extension and beauty business is a fast-growing one that has even greater chances for more growth in the future. The reason - people want to look good all the time and the right hair extension and beauty brand can make all the difference.
So, if you are looking into starting up a hair extension business, below are five tips to help you get started so let's get right to it.
Draw out a business plan
The importance of a business plan cannot be overemphasized. It helps you to know what needs to be put together to make your hair extension business a success. Your business plan should contain your business idea, vision, and strategy. The business plan also helps you in planning your finances; with this in place, you know how much you can afford to invest in the business.
Research your competition
There are several other people in the hair extension business and most of them are doing well at it. The key is to find out what makes them successful and see how it can help in your new business. You can always reach out to them as a customer to have a feel of what your customers will expect of you. It is however not compulsory to adopt every single one of their strategies; simply take what works best for you and leave out the rest that doesn't fit into your brand's goal.
Create a brand unique to your business
Your brand name is the first point ofcontact prospective clients will have with your business; you should keep it simple and memorable. Create a list of hair extensions and beauty brands you like and observe how their brand names blend with their businesses, this will help you know what works and what doesn’t when coming up with your brand name.
Come up with a USP (Unique Selling Point)
The unique selling point is what makes your hair extension business different from others; this is what will encourage your customers to keep patronizing you. At times, it can be packaging and a time frame of delivery that will make you stand out of the crowd. It can also be your strategy of including a very affordable gift to deliveries made to your customers. Find out something unique that will make your customers always remember and want to patronize you.
Know your customers
To run a successful hair extension business, you should bear in mind that there are different categories of people you can sell to. The high class, middle class, and lower class; determining which one you want to focus on will help to properly channel your resources and you’ll know whether to focus on cheap hair extensions, fairly expensive or very expensive ones.
While there are tons of tips on how to start up a hair extension business, the above mentioned are sure guides to get you started and if you apply them religiously, you will be on your way to the top of the beauty industry.
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