If you love helping people look their best, then becoming an entrepreneur in the beauty sector might be right for you. While the cosmetic industry is a multi-billion-dollar industry all on its own, there are other sub-sectors you can consider as well. In this post, we’ll review top beauty business ideas you might want to think about.
Financing Your Startup
Before we get down to the nitty gritty, let’s talk about finances. Every successful business starts with a solid financial backing. Some entrepreneurs choose to save up and pay for everything out of pocket while others start campaigns and look for investors to back their idea. Both of these financial strategies work, however, you could also look to small business loans. With this type of loan, you need to write out a detailed business plan that explains the reason why you want to start a business, your marketing plan, and financial projections. Once you receive the money, you can then use it to get your business off the ground. This includes manufacturing costs, paying for a physical location, and paying for advertising.
Open a Hair Salon
Even though most salon owners already have a background in the field, it’s still possible to open a hair salon without one. If you’re passionate about hair care, you can open a salon that caters to a variety of clientele or just a specific niche. If you’re a stylist, you may already have a roster of clients you can bring with you.
Even with so much competition, skin care has huge potential. If you have your esthetician license, you could think about opening up your own skincare business. You can secure a brick-and-mortar location, or you can work as a freelancer. If you choose the latter, you can float from one location to another and provide services without having to pay overhead costs.
The brow industry is just as lucrative as hair care, so if you have a knack for shaping brows, why not open your own brow bar? Similar to skincare, if you already have your cosmetology license, you don’t have to worry about getting an addition license. If not, you’ll need to check what type of state licenses you need to legally run a brow bar. Not every state has the same requirements as some may be more lenient while others are little stricter.
Both men and women love keeping their fingers and toes manicured, so opening a nail salon can be lucrative and rewarding. The best part is, you don’t always need a lot of capital to get started. If you’re already established in the industry. setting up shop should be pretty easy. You can rent a space from a pre-existing shop, or float and make house calls to your clients. You can also work in other day spas as a freelancer and offer your skills and expertise there.
There is definitely a right way and wrong way to apply makeup, so if you’ve always been a makeup master, now’s the time to make a career out of it. These days, makeup artists don’t need to go to beauty school to become successful. In fact, some of the most popular artists never set foot inside a classroom. You can use your skills to build your online presence on TikTok, Instagram, and YouTube. Then, you can create content to advertise your skills literally for free.
Make Home-Made Products
Who doesn’t love homemade beauty products? If you enjoy creating organic products that make other people feel their best, you can create soaps, body scrubs, hair care and skin care products. The startup costs are usually low, and as you become more experienced and refine your craft, you can then use sell your products on a variety of online platforms. Etsy and Shopify are among the most popular platforms to use currently, so be sure to research how each one works.
Start a Blog
As a professional beautician, you’re bound to have informative tips to help people look their best. There’s no better way to future proof your company and pass on what you know than by starting your beauty blog. A blog is the most common form of social media and you can create one pretty easily. There are several blog platforms you can use such as Wix, WordPress, and Medium.
Something we need to point out, however, is that blogs aren’t exactly monetized. You can monetize them if you know what you’re doing with affiliate marketing and advertisements. But it’s one of the best ways to connect and engage with your target audience. Give them beginner tips on how to apply eyeliner and how to appropriately and safely remove makeup. There are all sorts of different topics you can post on your blog. The best way to promote traffic on your blog is to schedule your posts. You can post once a week with a different topic to keep things new and exciting.