Beauty supplies have become staple products for women and men alike. With high demand in the industry, beauty supply stores are opening left and right. There’s a reason Forbes called the beauty industry a “gold mine for self-made women.” The demand for beauty products will exist for as long as humans have hair, skin and a desire to express themselves.
Also, the beauty industry is very competitive. As a small business owner, competing with the prices that the bigger stores offer can be a challenge, but you can bring in customers in other ways than prices alone. To quickly help turn your beauty supply store into a profitable business, Hshelf compiles a list of the top things you should keep in mind.
Locate your store in a right place with high traffic
You may have big dreams for a spacious floor plan, but you need to select an affordable space in a convenient location. Choose a store that is close by to your target audience. If you think college students will be your big customer base, staying close to campus is a good strategic move. If stay-at-home moms are your target, being in a heavily trafficked suburban shopping center would be ideal. Also, you should remember, choose the place has large amount of foot traffic around your store as possible as you can. Foot traffic can mean the difference between success and failure for your store, so, choose the location wisely.
Strategic, clean and attractive store layout
To drive more sales, you’ll want to situate your most popular products at the front of your store. You might consider doing this with the help of Hshelf retail gondola shelves and display cases, which can best and professionally display your goods and attract customers. Also, don’t forget providing mirrors and bright lights for your customers to try some samples, which can create an air of welcoming store. What’s more, your store should be clean and attractive at all times. Stock your beauty supply displays with the latest products to show your customers that you are relevant and current with the newest trends.
Stock purchase from wholesalers
Every beauty supply store needs stock. If you’re not opening a beauty supply store to sell your own branded products, it’s a good idea to contact a wholesaler or buy in bulk. Meet with representatives from large beauty product companies and the smaller ones to see if they will provide samples and products at wholesale price. A quick web search can provide a number of wholesale vendors, but to find the most reliable vendors with the best quality, you may want to visit a trade show, which lets you see the product for yourself.
Go marketing and promoting your business
Marketing is essential to running a successful beauty supply online store or brick-and-mortar business. Many beauty brands opt to use social media, where you can run paid ads targeted toward local consumers and beauty lovers alike. Instagram, YouTube and Pinterest are increasingly popular among beauty brands since their products lead to a visual result, and customers are more likely to buy a product if they can see a video of it in action. Moreover, send out local mailers to introduce the neighborhood to your store. Many people shop locally for their beauty products, so knowing that your store is in the area should bring in some local business. Try to advertise with other local businesses and build relationships with shop owners nearby. Offer discounts to other beauty professionals in return for customer referrals. Sponsor local events such as fashion shows and contribute free beauty products.
Success with a beauty supply store doesn’t have to be complicated. Like most things in life, a little planning before getting your business up and running can go a long way. Take time to understand your market and how to best tailor your store to your customer’s needs. Keep at it and your beauty supply store will be a success in no time.
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