Starting a beauty business can be life-changing. If you have that passion and drumbeat for the beauty, skincare, and cosmetic space beating inside of you, the start of your business could be a dream come true. Starting your beauty business can feel like a calling, or maybe it just makes sense to you and your partners. However, when it comes to the timing of it all, you’ve got to make sure that you have done your due diligence. In the long run, this will save you heartache, time, and money.
When you start your business, there are a few things you have to have in place. Use this list to help you cover the basics.
Make Sure You Know Where You’re Entering The Market
Have you considered what beauty products or skincare issues you will focus on? First, you need to define your niche so that your customers know where to turn for the products you will have on offer. Will you focus on one area of beauty or a few? Defining your niche early on can be challenging, but market research will help you identify your market’s struggles. It could be acne, anti-aging, eczema, dull skin, sensitivity, or under-eye circles. Maybe you want to focus on pet care products specifically or products for men. Another option is products for mom and baby, specializing in hair care (hair growth, hair loss, conditioning, etc.), and then you could also look at essential oils or bath products.
Don’t be scared to spend time on this first step. Defining what you do and who you serve is essential and will lead the way for the rest of your work.
Think Deeply About The Type Of Products
Now that you have a better idea of the products you’d like to offer your customers, you need to consider where you will source them. Are you going to focus on all-natural formulations? Are cruelty-free, sulfate-free, mineral oil, and paraben-free things important to your brand? When considering these questions, you must keep your target audience’s profile in mind. If the ingredients are essential to your customers, they must be important to your beauty business.
Get A Partner Who Understands Your Needs
Once you know what you want regarding your product, it will help you find a partner working with your vision to bring it to life. More Naturals manufactures and distributes beauty products wholesale for makeup and personal care brands, cosmetics for hotels, and more. We pride ourselves on providing products that deliver value to those we serve. We’re not just another manufacturer; we hear and address customer and retailer needs through our cosmetic products. In addition, More Naturals provides operational support for your brand. We produce over 600 stock formulations and above, doing custom formulations, packaging, and labeling; shipping; and we offer white-glove services to our customers. Our superior customer service experience is bedrock in clear, quality communication, and strives to do every business we assist feel supported and equipped for success.
Establish Your Brand
Your brand will set the tone for how your beauty business is imprinted in the minds of your customers. You have to choose the name of your business, think about the logo design, colors, the kinds of images you want on your website, and the package design. A lot of time, deep thinking, and effort goes into laying this foundation. The more meaningful your brand is, the more connected you and your customers will feel towards it. Be intentional about the colors you choose. There are psychological connections between types of colors and how people respond to them — do your research or get a freelancer to assist you with putting the right color palette together.
Do you close your eyes and imagine how your business’s branding will look? If you have some ideas, create a mood board on Pinterest. This is where you can keep all of your inspiration together! A graphic designer or art director can help you take your ideas and concepts into different options. More Naturals has an excellent design team to assist you with designing and creative work around your business name, logo, and package design.
Iron Out All Of The Admin
Before you can jump in, you need to ensure that you have the proper channels in place. There is much to consider, from finding the right supplier to the shipping, storage, ordering protocols, and pricing systems. Getting professional input about your processes and the legalities around starting your beauty business. Next, you want to ensure that you have created your business correctly and that contracts and paperwork are all put together in a formal and correct layout. Finally, a business plan will be essential for your beauty business.
Make Sure You Have Your Finances In Order
Ahh, the finances! This is a big part of your business. Getting your beauty business on the go is difficult without the capital to start. How are you going to raise the necessary funds? Some entrepreneurs use their full-time jobs to save for the time they will be ready with the capital to commit to their business idea fully. You could loan money with clear terms on paying it back, get an investor on board to help, or bring in a partner with the needed capital. Whichever way you decide to get your finances in order, ensure you are secure and comfortable with the arrangement.
Think About The Launch
This is the exciting part: the launch of your beauty business. A new venture deserves a bit of a bang! Make it special. Will you invite select guests and influencers to an online event where you reveal your beauty business? Are you going to launch your products with a giveaway? There are many ideas to consider. Ensure that your chosen one is relevant to your business vision and mission.
A Quick Recap On The Steps:
- Make sure you know where you’re entering the market
- Think deeply about the type of products
- Get a partner who understands your needs
- Establish your brand
- Iron out all of the admin
- Make sure you have your finances in order
- Think about the launch
Starting a beauty business is no small task. There are lots of things to consider and work through before you can officially make it happen. It’s important to remember that there will always be a bit of back-and-forth before finding a system that works for you and your business.
Getting into a good flow with your business can take months or even years. So be patient as your beauty business finds a rhythm. This goes for both the conceptualization, launch, and working phases.
Having the right partner on your side can make this much more accessible. Choose More Naturals. We would love to guide you as you start your beauty business.