Are you passionate about fashion and beauty care? Do you want to do business in the beauty care industry? Then here’s a sample business plan template on how to start selling human hair and hair extensions.
Because human hair looks more natural, versatile, and damage resistant, it is preferred to synthetic hair for making extensions, custom wigs, hairpieces, and braids. The demand for human hair now keeps booming. I believe you are aware of the mad rush for human hair such as Brazilian hair, European, Peruvian hair, Indian hair, etc.
In fact, that trend is still on and women are comfortable coughing up a huge sum to possess one. So whether you are resident in the United States, Canada, Ghana, U.K, Nigeria, etc; then I want to tell you that selling human hair and hair extensions is still profitable.
If you are looking to start a side business that will supplement your income, then consider starting a business that sells human hair and hair extensions. Before taking a plunge into this business, you need to know the steps involved; and here they are:
Selling Human Hair Extensions – A Sample Business Plan
Step 1: Learn the basics
Take some time to learn about weaving and other applications of human hair. Also, study the differences between natural human hair and synthetic hair weaves. This way, you can understand which hair is best for different types of extensions braids, and weaves.
You also need to understand exactly what your customer wants. (You don’t want to hand a customer an 18-inch bulk bag of European when she actually requested for a 16-inch weft of Remy hair). You will need to read books on hair-care and cosmetology, browse online hair-care forums, and consult with licensed hair stylists to find out all you need to know about human hair.
This is very important as you wouldn’t want to import the human hairs only to find out that there’s no demand for it in your region. Before investing a dime into this business, you must conduct feasibility study to ascertain there people are willing to buy human hair.
You must also figure out how big that demand is, the exact type of human hair your potential customers prefer and how much they are willing to pay for it. You must also try to figure out how much it will cost you to buy and deliver the human hair, the challenges you are likely to face and how to surmount them.
Step 3: Choose a venue and sales medium
Choose a venue and medium for selling your offers. Would you open a brick-and-mortar retail store? Or an e-commerce shop? Or you’d rather become a flea-market vendor? You need to decide what best suits you.
If you are planning to open an e-commerce store, you will still need to secure storage space that is free of dirt, pets, and dust. You can opt for a warehouse or commercial storage facility. But using air-tight storage containers in a spare closet or garage is a cheaper option.
Human hair can be either laid flat or hung up. But avoid bending or twisting it, as this will ruin it. Another catch to avoiding the storage and stocking human hair and hair extensions is to use wholesale dropshipping. This way, you won’t have to carry inventory.
Step 4: Connect with manufacturers
Set up wholesale accounts with brands and manufacturers of human hair. To get the lowest prices, connect directly with manufacturers in India or China because most human hair for weaving is gathered and produced in Asia. An example of a good place to connect with manufacturers and suppliers is Alibaba.com and Aliexpress.com.
Step 5: Attract customers
Offer incentives for customers to shop with you. Already, there are several beauty shops offering a wide range human hair for sale. And you may have a hard time breaking into the market if you don’t give people strong reasons to patronize your business rather than the competition.
Step 6: Add related items to stock
One strategy for making your hair selling business more complete and profitable is to sell items that are typically needed to weave human hair. Examples of such items are hair razors, binding glue, weaving needles, etc. Chances are your customers will need these items, too. So, why not grab the chance to make more money?
Step 7: Retain first-time customers
It’s often easier to convert first-time customers into repeat customers than to attract new customers. So, always give your customers an amazing first impression.
Bulk buyers and repeat customers help businesses thrive. So, offer attractive discounts to salon professionals, hair dressers / stylists, cosmetology students, and other bulk buyers in order to gain steady, repeat business. You can give them discounts between 20% and 30% off the retail price, depending on what is obtainable in your area. You will make up the discount easily, since they usually buy more hair at a time than regular customers.
Step 8: Market the hell out of your business
Nobody gets to know about a business that is not promoted. So, adopt various marketing strategies in order to spread word about your hair selling business.
If you have a physical store, try to sponsor a fashion show, hair show, or related event. You can also make your business popular by donating hair or make wigs for people who have lost their hair to cancer or other disorders like alopecia. Aside that this gives you a personal sense of fulfillment; it also helps you gain media coverage.
If you are selling your products online, adopt various online marketing methods, such as starting a blog the provides hair styling tips, interacting with prospects via social media, marketing your business strategically at online forums and communities, using paid advertising methods like Google Adwords as well as free advertising methods like free classified ads (Craigslist, etc).
In conclusion, I want to state categorically that selling human hair a very lucrative business that does not require much capital. Try to tap from it by joining the bandwagon as soon as possible. However, be sure to consult other resources / experts to learn more about the business before launching yours.