Opening your own beauty supply store is a new and exciting adventure. You may need to set aside some time for serious organization and reflection, but it should eventually be worth it. Be sure to find the niche market you love, make a reasonable budget and be ready for a successful store!
Start your beauty supply store business
Choose a niche and type of store for your store. Choose something you know and passionate about. Try to study the market gap of other enterprises in the region. If there are other stores nearby, you don't want to open an organic skin care store. This is also the time to determine the type of store you want to create. Before fixing any type of store, study the rental price in your area.
Write a short business plan. If you want to write a business plan, it's usually best to keep it simple. Having said that, even a basic business plan has quite a few steps. Don't be afraid to ask for help on this issue! Some key projects include:
Who are your manufacturers and suppliers and what are their prices for key products
Your administrative expenses (inventory, salary, advertising, attorney's fees, utilities, miscellaneous expenses)
Financial forecast on when your store should break even (this is very important if you are looking for a bank loan!)
Basic action plan for achieving goals
Figure out your beauty store budget. Try to keep your costs as low as possible from the start and be realistic about your numbers. Accidents should also be considered; In the first few months, there will always be unexpected costs! Several key areas for your store to focus on include:
Your supplier's product and transportation costs
Utilities and rent
Any legal or licensing fees in your area
Research permits and fees. The process of opening up small enterprises in each autonomous city is different. Before you really start a business, you need to do a thorough study of your city, county and state. Some of the anticipated projects include:
Annual registration fee
Registration fee for any new location
Fees for special items (some states require additional licenses to sell specific items, such as perishable items)
Professional licensing fees
Select a legal entity. This requires you to do some research, but many small companies start from sole proprietorship. This usually means less cost and paperwork. Here are some different choices, but a lot of research must be done before choosing:
Sole proprietorship - less expense and paperwork, but more personal risk
Partnerships - provide more resources for funding and decision-making, but may delay the process
Limited liability company (LLC) - the most flexible business structure, but more comprehensive paperwork and expenses
Company / S - company - less personal responsibility, but more government regulation
Choose a crowded place, close to other beauty supply stores. Whether it's a shopping center, a shopping center, or a popular community, you must choose a place with a lot of pedestrians and other beauty supply stores nearby. You don't want your customers to come to your store!