Cosmetics is a popular product that you can always make money on. How to open a Beauty Supply Store?
To open A Beauty Supply store, you have to, firstly, choose a specialization, and secondly, solve all the main steps that all retail entrepreneurs face. Such as: register a business, find a suitable premises, arrange a sales area and purchase equipment, form and purchase an assortment, hire employees. Next, we will consider all tasks in detail.
A store specialization
At the preliminary stage, you need to decide on the direction of the store and its assortment. This choice directly depends on the amount of investment, location and the ability to supply one or another product.
Things you need to pay attention when choosing the direction of a cosmetics store:
- Cosmetics store location. For example, if a retail outlet is located in a residential area, it is more expedient to focus on a wide range of products and affordable prices. In the city center, you can open an elite cosmetics and perfumery store.
- Trade in unique products will be successful only if there are no direct competitors.
The main formats A Beauty Supply Store
- Elite cosmetics and perfumery store. Target audience – clients with income above average.
- Store of professional cosmetics for nails. The target audience is nail design studios and private manicurists.
- Natural cosmetics store. You will need to pay special attention to advertising: The topic of environmental friendliness is popular.
- Brand store of decorative cosmetics. You can become the official representative of a well-known brand.
- Medical cosmetics store. Such shops specialize in pharmaceutical and medicinal cosmetics.
- Arabian or oriental cosmetics and perfumery shop. For example, Japanese or Korean cosmetics stores, Arab perfumery boutique, etc.
- Store of professional cosmetics for make-up and makeup artists. Focuses on narrowly focused specialists providing visage and makeup services.
- Handmade home cosmetics shop. Handmade goods always attract the interest of buyers.
- Store for natural ecological or organic cosmetics. Today, ecological and organic cosmetics are very popular.
As you can see, there are many directions to open A Beauty Supply Store. Choose what you are good at and where the competition is minimal. Today, the surest way to win your consumer is to sell cosmetic brands that are not represented or are almost inaccessible in your country. The consumer needs to be offered an exclusive, and then consumer will be interested in your cosmetics store. A well-defined target audience and assortment is the basis of your success.
Licensing and Permits
It is important to make sure you have the proper licenses and permits. Normally, it is necessary to receive a business license and seller’s permit. Check your state and local city websites for more detailed information. Also, make sure to get your Employer Identification Number (EIN) from the IRS.
Choosing a Location
As for any retail establishment, the location of the cosmetics store plays an important role. The favorable location determines 70% of the success of the outlet. When assessing a place, one should take into account the characteristics of the area, the ease of parking, the intensity of the pedestrian flow, visibility and noteworthiness, the proximity to similar enterprises. It should definitely be in a place with a lot of pedestrian traffic. What are these places? City center, dormitory densely populated area, shopping centers, etc.
Equipment and design
The main element in the design of a cosmetics store is trade equipment – racks, showcases, shelves, a cash counter, a cash register. When determining the amount of required commercial equipment, you must rely on the volume of goods.
Basic principles of your store design:
- zoning of the retail space – each brand has its own stands, decorated in the appropriate style;
- color gradation of prices for goods (for example, highlight super-offers with green price tags, economy positions – yellow, etc.);
- contrasting colors in the design (white and black, red and white, etc.). But at the same time, it is undesirable to use too bright and flashy shades that will distract and irritate customers.
Before forming an assortment, you should conduct a thorough analysis of the market, suppliers and assortment of competing stores. This will allow you to determine consumer demand and select products in such a way as to create a unique offer in the market. Product categories to include in the assortment: decorative cosmetics (lipstick, mascara, powder, shadows, etc.); skin care; body care; hair care; perfumery.
Competent staff is the key to the success of a your store. Portrait of a sales assistant: a young girl, smiling and polite, who knows a lot about cosmetics and knows how to convey information to the buyer in an understandable form. Practice shows that it is this type of sellers that inspires the most trust among the average buyer.
Methods can be used to promote a beauty supply store:
- Distribute printed advertising products – booklets, catalogs, business cards, flyers.
- Use a special SMS messaging service that will notify potential customers about the opening of a new store.
- Place information about the store in city electronic directories.
- Use various types of outdoor advertising: banners, billboards, signs, posters in the shop window, bright signboard.
- Social media.
- A decorated storefront also acts as an advertising tool, which will attract the attention of potential customers. According to market research, 70% of customers visit a store because they are attracted by a beautifully designed storefront. The cost of window dressing is 25,000 rubles on average.
Risks That Can Be Faced
When planning a beauty supply store, be sure to consider the risks, such as:
- high competition;
- increase in prices;
- unscrupulous suppliers;
- insufficient demand;
- refusal to lease a retail space or an increase in the rental price;
- lack of motivation among employees;
- loss of store reputation.
Opening a Beauty Supply Store does not mean becoming a part of a beautiful life. This business will be beautiful only for buyers, and you will constantly have many difficulties, a small part of which is mentioned in this article. But for the self-motivated and self-confident entrepreneur, nothing is impossible. With some effort, You can become the owner of a completely successful store.