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Jun 2 / Jitendra

Business with Cosmetic Retailing

If you have special attraction for various types of cosmetics then why not start a business with cosmetic retailing. In fact, you can change your passion into profession and own a cosmetic and makeup store, or a skincare and makeovers. With time, effort, commitment and planning, you can build up a cosmetic retailing store and can generate a good profit from that. The interesting fact is that you do not need to be a makeup artist or a professional, to set up this business. You can check out the following tips, in order to get some help in setting up a business.

Business with cosmetic retailing · Sketch a strategic business plan. You can find templates online, which will give you knowledge about the budget plan as well. If you are applying for a loan, you will need this to show that bank that you are worth the risk and show the business plan to them. Moreover, you will also need a city or state license, and choose a name, which has not been taken already by any other business stores already. You can set up as a sole proprietorship, partnership, or a corporation, but the best thing is talk to your accountant to decide what will work best. They can also assist you with a tax id number.

· Secondly, you have to decide the brands you will carry. Remember there are many products, which are sold by their own authorized retail stores. For instance MAC cosmetics only sells from their stores or counters they own in major departmental stores, so you can’t carry their products. To sell those products, you need buy them from surplus dealers but you can’t advertise them because you are not an authorized distributer.

· Like all other business, business location is an important part of this business as well. Focus on choosing a high traffic area that is easy to get too. Make sure that the location, you have chosen has enough parking for your customers. Calculate, whether the rental cost or buying the property would be the better option. You can also get a 1-year lease and evaluate the success of your makeup store for making further advancement.

· You need to make good promotion and marketing of your store. None will know about your makeovers or you want to sell them some sizzling eyeliner, unless you let them know. You can use the local college papers, or write a press release for the paper and local publications, donate products to women’s charity events to let people know about you. Doing some free advertising will in the long run come with good returns. TV and radio can be expensive, because frequency is needed to catch the viewers. Network at local events is the best option. You can also ask your local cosmeticians to refer their clients and offer them big discounts.

· Do not forget to plan a grand opening of your make up store. It will get you the first rush of customers. On this grand occasion, you can do free makeovers, and offer coupons, samples.