Starting a hair business can be a great way to make money and have control over your income. However, there are some things you need to know to become a successful hair seller. In this blog post, we will discuss how to start a hair business, including how to find good vendors and how to market your products.
What is a hair business?
A hair extension business is a relatively new type of salon supplies retailer. Hair extensions are just what they sound like – real human hair or synthetic hair that has been attached to your own for extra length, volume, and/or color. Similarly, a weave is a type of hair extension that is usually installed by braiding hair close to the scalp and then adding hair extensions.
The idea behind this is that you can have any hairstyle you want without having to cut or grow out your natural hair. There’s also the chance to add some more natural-looking highlights in places where it wouldn’t be practical otherwise, like on top of one’s head.
For women who would rather not spend hours every week at the hairdresser getting their hair done up (especially if they’re not sure how), a set of extensions or a weave may make perfect sense as an alternative way to have great-looking locks all year round.
Why should you start a hair business?
There are many reasons why you should start a hair business. One of the main reasons is that the hair industry is constantly growing. The hair industry is now worth $46.2 billion and it is expected to grow even more in the next few years. This is because more and more people are becoming interested in improving their appearance and want to find new and innovative ways to style their hair.
Another reason why you should start a hair business is that it is a very profitable industry. The average profit margin for a hair business is around 50%. This means that you can make a lot of money very quickly.
Finally, hair extension and weave businesses are very easy to start. You do not need much money to start a hair business and you can sell your products in many ways. For example, you could use the internet to sell your hair extensions online, or you could open up a store in your local area (for example, on the high street). You could even sell your products to a business that might need them – like your local hairdresser, for instance! However, for the latter part, you might have to research a little more about the demographic and the B2B arena that you would be venturing into. Maybe you could look at companies of a similar caliber to Conjointly who can help you Source B2B respondents and improve on your research results!
How should you go about starting a hair business?
Starting a hair business can seem overwhelming at first, especially if you are new to the industry. Below, you can find some simple steps to get your business off to a brilliant start:
- Research the hair industry: The hair industry is constantly changing and evolving, so it is important to do your research. By knowing the latest trends and styles, you can better cater to your customers’ needs and offer them the latest products and services. For instance, in recent years, human hair vendors have reported that demand for virgin hair has soared. Additionally, by understanding the competition, you can find ways to set yourself apart and stand out from the rest.
- Determine what type of business you want to start: There are a few different types of hair businesses you can start. An online hair business is a great option if you want to work from home. However, if you want to set up a physical store, a beauty supply store is a fantastic option. This type of store typically carries a wide range of hair products and accessories, as well as other beauty supplies. Above all, whether you want to offer products at affordable prices or choose to target the luxury market is totally up to you.
- Get your products and supplies in order: There are many places you can purchase products and supplies, including online hair vendors and beauty supply wholesalers. In addition to hair extensions, you might also want to invest in other hair products such as shampoo, conditioner, and styling tools. You can check out an example of the best professional salon shampoo here to get an idea of the sort of thing that is available on the market.
- Register your business: Once everything is ready to go, your business needs to be registered. If you do not register your business with the state, then all of your hard work will go to waste. Furthermore, without registration, there is no protection if someone steals your ideas for their own gain.
- Create marketing materials: Marketing materials are a great way to promote your hair business and attract new customers. By creating social media posts, flyers, and brochures, you can showcase your products and services to potential clients. That said, besides flyers, posts, and brochures, you can also consider advertising on platforms like Atmosphere (https://atmosphere.tv/advertise), which can connect brands to their customers by capturing audience attention. Moreover, with Atmosphere’s platform, you can get national reach if you so desire.
Anyway, remember that marketing and advertising can help create a professional image for your business, which can help you attract more customers. You might also want to think about using SEO tactics when marketing your business. By enlisting the assistance of professionals from an SEO firm, you can find out how to structure your website with subdirectories and subdomains (you can read up on additional resources to learn more about subdirectories). Consequently, this can benefit search engine optimization in a variety of ways.
- Purchase insurance to protect yourself and your customers: A hair business is an investment, which is why it’s important to take care of it. One way to do this is by purchasing insurance for your business. There are many types of insurance you can buy for a hair business such as property and casualty, life, health (medical), disability, and liability. These coverages protect both the owner and the customers in case something goes wrong with their products or services.
How to build relationships with other professionals in the industry
Good hair vendors understand that networking is vital. The hair industry is a competitive one, and to be successful, it’s important to network with other professionals.
Attend hair shows, go to trade shows, and join professional organizations. Get to know the people in your field, and let them know about your business.
Chances are, they will be happy to refer clients your way.
Some of the professionals that can help promote your business or refer clients to you if needed are listed below:
- Salon owners/managers
- Makeup artists
- Beauty influencers
Are you still wondering how to start selling hair online or in-store?
Selling hair is a profitable business idea and one that many people are trying to get into. Hair extensions, hair weaves, and other products can be sold online or in-store with ease as well. If you want more information about how to start selling hair for profit, don’t be afraid to do some more research online – there are plenty of fantastic resources out there for budding hair entrepreneurs.