Enter the Beauty World with Your Own Cosmetic Store Business
Business Overview:
If you frequent the department store makeup counter and pride yourself on your makeup application skills, you may be ready for your own cosmetic store business. Imagine working with people all day, making them feel better about themselves by highlighting their natural beauty. Getting to experiment with all the latest products and colors is just one of the perks to this business idea. But first things first. You need to find a location for your store. You should look in areas where women tend to shop. A cluster of boutiques or an outdoor shopping mall would be perfect. Once you find your location, you will need to secure funding. Starting a store from scratch can be a lot of legwork so it might be worthwhile to purchase a franchise business. A franchise will be more expensive up front but it should come with furnishings, a staff and likely some cosmetics stock. A business plan will help you sort out these types of details as well as what types of customers you will cater to, how many product lines you will carry, what your price points will be, etc. You will also need to market your business locally in magazines and on the Internet. Having a slick website will not only increase business by getting customers into your store, but you can also sell your products online. The best part of this business is the freedom it will give you to work only when you want to. Assuming you have a capable staff in place, the business will run itself and you can spend your time marketing and researching the latest cosmetics trends.
A Day in the Life of a Cosmetic Store Business Owner:
Your day will begin by making sure the store is clean and organized. You will check that your staff is on time and be sure they are familiar with any new products. Throughout the day you will visit with customers and help them find the products best suited for their needs. You will spend some time marketing your business by distributing coupons or fliers to other shops in the area who cater to your clientele. At the end of the day you will record your income and straighten up the store for the next day.
About Your Customers:
Your customers will be individuals looking for high quality cosmetic products for themselves or as a gift for someone else.
What You Need to Start:
- Business plan
- Storefront
- Funding
- Marketing plan
- License and insurance
- Makeup counters, shelves, drawers, cabinets, etc.
- Staff
- Cosmetic products
The Good:
- Helping people look and feel their best is very rewarding.
- The demand for cosmetics will always be high.
- You can be your own boss and take time off when you want to.
- You get to spend your day doing something you love.
- After you make back your initial investment, your profit margin can be quite high.
The Bad:
- The startup costs are steep.
- If you don’t price your products correctly, your bottom line will suffer.
Resources:
- Personal Care Products Council
- Independent Cosmetic Manufacturers and Distributors
- Bureau of Labor Statistics on Barbers, Cosmetologists and Other Personal Appearance Workers
- Wikipedia on Cosmetics
About The Author
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