The hair extension market over the years has become a billion-dollar market. That is why today, many people are now going into this business. And the question of many people’s minds is “How do I start a hair business?” It has become a very lucrative business, but some people rush into it without having the right tips on how to start a hair business. These days, many businesses start up but fail at the end of the day. This is because many people that want to start a hair business like stylists or salon owners do not have any idea on how to start a hair business.
Even though the hair business can be done by almost anyone, it is imperative that before you start a hair business, you are equipped with the right tools. There are so many things to consider before starting up your business, like where will you be located? Who is your hair supplier? Do you want to offer services and also sell products? So, if you want the right amount of information to start up a successful hair business then continue reading.
Know the basics: Research
The first thing you need to do before you start your business is a preliminary study. Ask yourself questions. What type is hair business? Do you want to go into? What type of hair do you want to sell? Do you want to try out, Brazilian hair or Peruvian hair? Whichever type you choose, make sure you do in-depth research on them. Learn about weaving, learn about the differences between synthetic hair and human hair. This will help you better serve your customers. For instance, you want to be able to recommend the best type of hair for your customers depending on their specific needs. In this day and age, it is now easy to get a lot of knowledge on cosmetology, hair care and hair in general from the internet.
While also doing research, it is best to find out which venue will be great for you. Even if you are going to have an online store, it is important to identify a venue where you can easily store your products. With the research, you can determine what kind of places can easily house your product like a warehouse or a commercial storage facility. These basics should be known even before you start anything. This not only helps you plan your business properly but gives you the right confidence to start up your hair business.
Write a business plan
After understanding the basics and doing in-depth research on the hair business, the next thing for you to do is create a business plan. A business plan is a written blueprint that contains your business goals, how you are going to attain these goals, and the time frame within which you are going to attain these goals. So, the first thing you must do before you write your business plan is to know your goal. Your business plan will help you manage your finance and give you clarity on the path you want to take on your hair business. Your business plan is not static but should change over time as you learn more about your customers and as the market evolves. There are a few things that should be on your business plan and they are:
- Executive Summary: This part of your business plan shows a summary of the whole business plan. It should contain exactly what your business does. It is usually two pages long and is usually put at the beginning of the business plan so that potential inventors can immediately and easily have a brief breakdown of what your business is about.
- Opportunity: This section should tell the customers what you are selling, the kind of problem you are solving and who your target market is. This section helps potential clients get a detailed idea of the nature of your business.
- Execution: How do you plan on executing all your plans? That is, how do you intend to make people buy your products, and how you intend to solve the identified problem. In essence this section should reveal your marketing and sales plan.
- Operation: Ask yourself, how do you intend to measure your success? Determine what metric you would use to determine the success of your business.
- Your Team: This part should include all those involved in your business. The roles that each team member plays and why they are the best at what they do. This section should contain a brief description of all your team members.
- Financial Plan: This section should show your sales plan, expenses and profit. It will also show how your company will be making money. This section is very vital for people that might want to invest financially in your business so they can understand if your business is worth the risk.
Get a reliable hair supplier
This can be said to be one of the most important steps on how to start a hair business. If you get it wrong at this point, it could cripple your whole business. This is why finding the right hair supplier is very important. Before choosing your supplier, order hair samples to evaluate, if possible, use the hair yourself. There are a few key features you should look out for in any hair supplier.
- Easy line of communication: Make sure you choose a hair supplier that can easily be contacted by phone, email and social media platforms. This will ease the rate of supply and help your business thrive better. For instance, KNhair has easy communications lines with an easily accessible website (knhair.com) and a strong social media presence. If you are looking for a hair weave supplier that can easily be contacted and has excellent service, then visit knhair.com.
- High-quality products: Always go for suppliers with high-quality products. Ask your self are their hairs processed? and how are they collected? KNHair also has high-quality hair and has won praise and recognition of many customers around the world for their high-quality hair.
- The length and texture available: Identify the supplier that has your required length or texture of hair you need. The success of your business will largely depend on the availability of the hair you need.
Apart from the above, it is also important to check where the hair is gotten from, how long it takes for delivery if there are any return policies and, most importantly the price for the hair. KNhair as fulfilled many of the requirements and make delivery all around the world. Getting the right supplier is very crucial to your business, so we recommend Knhair. Visit KNHair.com for more information.
Build a hair website
Everything is going digital. Even with physical places for shops, everyone is moving online because of its easy. Many websites have almost all the information, giving you access to abundant information. Since the world is now online, it is important you move your business online to increase your reach of people.
This means that in order for you to expand your business, it means you have to create an online presence. And one of the ways to do that is through a website. Like knhair.com build a website that is stunning, with the right images, the necessary content and makes easily accessible. These things are very vital in creating the best kind of website for your business.
Today, there are many website platforms that you can easily use to create stunning websites. Since you are just starting your business, you might not have much knowledge about creation of the website, so these websites building platforms can help you build a stunning website. Many of these website platforms have stylish templates and easy-to-use tools that can help you edit and modify the templates. Some of these website platforms and Wix and WordPress. These are some of the best online. Remember, your website is the first place your costumers will probably go to, and a good first impression is very important for customer retainment.
Promoting your Business
Marketing is another crucial process on how to start up a hair business. If you want to get noticed and you want more customers, then market in is a no brainer. After getting your hair supplier and you have your website you need to start thinking of how to make sure people know that you exist and patronize you. Your website plays a large role in marketing. A stunning website will definitely attract more people than a dull website. Make sure your website can easily be found on search engines by creating a search engine optimization strategy or employing someone to help you do it. With this, your website can even be recommended to people online.
Another major method of marketing that has taken over the internet, is through the use of social media platforms. Social networking is very vital to business success. You will realize that today, hundreds and millions of people spend more time on social media platforms than anywhere else and it will be a shame if you don’t tap from this network of people. Social media platforms like Facebook, Instagram, and Twitter are very popular platforms for publicizing your hair business. Especially Instagram which deals with more image networking, allowing you show potential costumers images of the hair that you sell. These social media platforms can then be linked to your websites so people can easily visit them from your website. Like your website, with these social media platforms it is important post relevant and important content that will attract people.
Also, these social media platforms now have awesome advertising opportunities called a promotional that advertise for a price at a targeted audience. With this, you are guaranteed the right amount of exposure to the right demography of people without any knowledge of advertising. There are guides online to help ensure your advertisement is done properly. Even with all the above methods of marketing, the use of emailing should not be overlooked. Emailing has been around longer than social media platforms and is a more direct approach to marketing. Potential customers feel more engaged with your company and feel that you really care for them because of this direct approach.
Tips to help boost your customer base
Apart from pure marketing, there are a few tips or tricks that can help boost your customer base.
- Customer incentive: Due to the presence of many hair businesses now, there is now increased competition. This has raised the stakes and made it imperative to find innovative ways to attract customers. By providing incentives like gift items for buying your products, customers are more inclined to buy your product always.
- Sell accessory items: There are some items like glue, and needles that will be naturally needed when you get a hair weave. These items could attract people to easily buy your products because it is easier to access. This, in turn, boosts profit for your business.
- Offer discounts: After some time, you will start to get some consistent customers. But these customers could easily stop buying your products if they do not feel appreciated. And this is what discounts do — these discounts aid customer retention, which is very important. Discounts should always be between 20 to 30 percent so you can easily make up the cost.
Another form of advertising is branding. It involves the promotion of your hair business by means of advertising through a distinct design. With that said, you need to know that packaging is everything. When you deliver your products to your customers, your package design advertises and when those costumers carry your product, they do free advertising for you. Your packaging involves the box design and or your company logo. If these are poorly done it could affect the customer’s reception to your product.
A way you can effectively use the power of branding is through the use of branded bags. These bags, most times upgrade the perception of people about your business. Branding is important because it is what makes an unforgettable impression on consumers and also allows your customers and clients to know what to expect from your business.
Starting a business can seem very exciting, but without following the right process you might just be heading for doom. Firstly, make sure you educate yourself about the business and then carry out the above processes meticulously.
Ron Conway said, “Anytime is a good time to start a hair company.” Now you know how to start a hair business. All you need to do is get everything in order. So, start your hair business now!
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