#What is a Beauty Supply Store?
A beauty supply store is specialty retailers that sell hair products, hair care products, cosmetics and beauty tools primarily to salons, licensed professionals and consumers.
#How to Start a Beauty Supply Store Business?
Beauty supply store business is a thriving and profitable industry now. Are you eager to open a beauty supply store? To successfully start a beauty supply store of your own, we suggest you work with the following steps.
1.Write a business plan
A business plan is like a blueprint for the success of your business. It usually lays out a written plan from a financial, operational, and most importantly marketing perspective.
2. Register your business
You’d better to come up with a business name, choosing a name that reflects your business’s purpose and brand identity. Then, check for trademark filings in the U.S. Patent and Trademark Office, and conduct a Secretary of State business search to make sure there isn’t another business in your area with your potential name. If you’ve established that your name, you can build your social media like Instagram, Facebook etc. And launch your business marketing strategy as soon as possible.
3. Apply For Licenses
To open a beauty supply store properly, you must be able to acquire a retail seller permit, business operation license, Doing Business As (DBA) License, and Federal Employer Identification Number (EIN).
4. Choose a suitable location
In business, location is key part of what determines the success of a business. Whether it’s a mall, a shopping center, or etc, you must be sure to pick a location that has a high amount of pedestrians and consider other beauty shops nearby.
5. Build vendor relationships
Finding trustworthy vendors. Your vendors might become your most valuable partners and a great vendor can present you with new merchandise, determine which products will sell best, and cut costs for you. There are a few considerations to keep in mind as you’re searching for vendors: budget, quality, reputation, etc.
|Hair products||Bundles, closures, frontals, wigs etc|
|Hair care products||Shampoo, conditioner, hairspray etc|
|Nail care products||nail polishes, nail polish removers, clippers etc|
|Makeup products||liquid foundation, powdered cover-up, lipstick etc|
|Skincare products||lotions, creams, etc|
6. Hire staff
When hiring for a retail position, make sure to interview as much for their attitude as you are for their experience.
In the United States, you can’t operate a business without having some of the basic insurance policy covers that are required by the industry you want to operate from. The liability coverage and insurance plans that are best when starting your own beauty supply store include general liability coverage, a business owners policy, etc. Thus, it is imperative to create a budget for insurance and perhaps consult an insurance broker to guide you in choosing the best and most appropriate insurance policies for your beauty supply store business.
8. Purchase equipment
As for equipment, you‘d better to make a list, like display shelves, display cases, reception desk, mannequins, full-body mirrors, chairs for customers and staff etc. Besides, prepare software systems like POS system, inventory system etc.
Don’t hesitate to take the first step! Wish you succeed!