Starting your own make-up line is probably the most exciting business to get into as a make-up enthusiast! You’ll be able to create your own products from colour, formula, packaging, pay-off and so on!
And the best part is that you are crystal clear about what you want from a product, which makes it simpler to grasp how to make your own. But starting a make-up business isn’t as simple as knowing what you want.
You have to consider planning, budgeting, advertising, business development, business protection and so much more. But to make it easier for you, check out everything you need to know as a starting make-up brand owner down below:
What make-up products are most in demand?
When thinking of what make-up product to start with, it’s best to stick to something that’s in demand. And what the market has been raging on for years is lip products from lip gloss, lip oils, lipsticks, lip balms, liquid lipsticks, lip plumpers, lip tints and so much more!
This is why almost all make-up brands have a lip category- it’s in demand! So if you’re planning to come up with a lip product consider its formula, colour variation, amount, packaging, price and applicator.
Second on the list is eye products such as eyeshadows, false lashes, mascaras, eyeliners, eye glitter and so on. Just like lip products, if you decide to start an eyeshadow line or anything in the eye make-up department, consider its formula, colour variation, amount, packaging, price and applicator.
Coming in third are hair products. These range from wigs, extensions, sprays, hair care, colour treatments and even accessories. As a starting business, you can start with accessories since it’s easier to work with and cost less to start.
How to start a make-up business?
To start your own make-up business there are certain things you can’t skip and it’s the process of opening and making your business official. So to run a legitimate, functional and progressive make-up business here is a list of things you need:
- Have a business plan – Although you might get too excited about creating products you also have to consider coming up with a business plan. This will act as a guide for your company’s goals, marketing objectives, operations, financial projections and industry standing.
- Get funding – Next is to know how to fund your business. Although you might think out-of-pocket is the way to go, looking for other means to fund your business is more practical. You can consider bank loans, getting lenders and so on.
- Get all necessary legalities – “legalities” refer to as necessary paperwork, documents, permits and registrations. This is vital since this is what will make your business legitimate and legal to run.
- Come up with a brand – Next, you can start coming up with your brand. Consider your brand’s theme, personality and name. Once you’ve come up with all three, you’re all set to start creating your products!
- Develop your goods – Now you can start by creating your products. When producing goods make sure it aligns with your company’s brand. So if you cater to young consumers, consider adding in light make-up such as skin tints, lip tints, lip balms and so on.
- Perfect your products – Before selling your products to the public make sure it’s at their best. Test out your products and observe how they feel, wear and last. If your products are at the standard you want, you can now advertise them.
- Advertise your products – When it comes to advertising your product you have to consider certain things such as your target audience, your brand’s voice, your company’s personality and theme, the price of your products and so on.
- Choose a hosting platform – Now you have to provide a platform where people can view, inquire and purchase your products. As a starting business, you can consider starting online and using popular media sites like Facebook, Instagram, Twitter and so on.
How do I protect my make-up business?
A great way to protect your business is by getting it insured. This is a practical and efficient way to safeguard your business from lawsuits, financial losses, damages from calamities and accidents and even damages caused by your company.
This will also give your business a good reputation with clients and partners. Knowing you’re giving your business extra protection will make your business reliable, trustworthy and credible. Plus this will also save you money in the long run!
As a small and starting company, great insurance coverage to consider is sme business insurance. This is tailored to fit the needs of small to medium-sized businesses in all industries. Plus it’s more affordable than other coverages around, so it’s fit for a starting business on a budget!