The home-based cosmetic makeup line is a perfect way to turn your passion or hobby into a profitable income. You can initially start this business from home as a freelancer and later on build a thriving company out of it, with a nice showroom, office or shop. Everyone wants to be beautiful and dreams for a healthy skin and hair, hence the beauty care industry is forever successful.
However, makeup lines are usually trend driven and so to figure out how to start a makeup line business from home, you will have to establish an extensive business plan and answer one particular question – “what will set my beauty care line apart?”
Today, our post will talk about everything you need to know about starting a makeup line business from home.
A Quick Tip:
Stay well informed about trending products and popular ingredients in the market. Read and research extensively and focus on unique properties.
Women and girls, both have a unique fondness towards makeup. More than an average number of women does not feel complete without some kind of makeup on their skin. The present generation doesn’t see makeup as a beauty enhancer alone, but rather believes it to be a confidence-booster and a health regimen. Since it is more than dolling up, most women look for great quality products that have healthy ingredients and that can make their skin look good.
So, it would be easier for the ladies to start a makeup line business. However, Careerlancer believes if the business is run by men, there are chances for the profit to double. Women like the idea of men selling their products, as it shows their involvement and knowledge.
So, the answer is quite clear, the makeup line can be started by both genders as long as they show true interest in them.
When we talk about makeup line, we are not trying to limit your options to makeup products only; in reality, makeup line covers everything related to skin, facial and hair. However, before you create your business plan, you need to determine which area you want to focus on. Here is a list of niches in the makeup industry for your consideration:
However, we have noticed that if you focus on a particular niche at the beginning of your business, you will likely be more successful. You can always add more products to your cosmetic line as you flourish. Until then, it is recommended to put your 100 percent in your existing product line and perfect it.
Selecting a niche should be quite easy. You have to choose one that you are most interested in, you have sufficient knowledge about, and something that you know you will be good at marketing. You have to go through exclusive research and analysis to check the market condition of your chosen product line.
The cosmetic industry already experiences a super competition. So, the one thing that you really should be taking care of and should also investing all of your efforts into is ‘Marketing and Promotion’. Marketing includes look and packaging, varieties, cost, exclusive benefits, promises with time specification (such as, apply the product for twice a week and get rid of pigmentation in 10 days) and other similar hooks to entice your clients.
Okay, listen to this. Makeup line products usually require a lot of capital fund. Therefore, you should be backed by a solid business plan.
Don’t blindly jump into the pit. You have to consult several experts in the field and beyond to draft your plan. A workable business plan helps you to cut down the trial and error aspect and prepares you for the challenges, for the growth, and for the future expansion.
Your business plan should outline the strategies and vision. You have to include the pros and cons and project numbers, such as income, expenses, and profits. Always keep a margin of plus 30% to your budgeting so that you aren’t surprised when the actual figures come in.
For any information, you definitely need to consult an expert in the fieldand do a lot of homework. You have to get to know your competitors and their products.
You can establish your cosmetic company as a limited liability corporation or as a partnership. Learn about different business entities and their tax implications. Consulting an advocate is must for assistance. Apply for Federal Tax Identification number for the business.
The basic tools and equipment you would require to make your own cosmetic line are pots, measuring units, bowls, glassware, metalware, heat-safe utensils, kitchen scale, and funnel.
Purchasing the best quality ingredient or raw material is very important. Buy them in wholesale from cosmetic and natural oils suppliers. Buy a fridge for storing the perishable and delicate materials, like plant-based oils and food.
It is both stressful and fun event. Use a brand name that is quite marketable. It should represent your products and company values. Research other brand names and come up with something short and sweet, and easily pronounceable.
Make test batches using your formulas (write them down and keep several back-ups). Package them neatly in jars and bottles and send them over to your friends and relatives for their suggestion. Self-test the products too and then refine your formulas.
Designing labels for your product, creating a website and a logo, all three should go hand in hand. Take reference from cosmetic labels of popular brands or Cosmetic Label Guide on the US FDA website to know what should be included in your packaging labels.
You can market and sell your products on your website. You can use social media platforms to post ads and create awareness. One of the best online marketing strategies that are actually garnering profits nowadays is blogger outreach. You should consider it too.
Opt for General and Product Insurance policy to protect your products and business against losses and liabilities.
To get permission for starting a makeup line business, you need to contact your local zoning authority to find out if you can start a small home-based manufacturing unit. Officials may come and inspect your space before they give you a thumbs-up.
In your website, upload original content about your product and company, from brand philosophy and product ingredients to tips and guidelines. Include detailed information about your ordering process and delivery. Make sure you do an SEO for your website from a reputed digital marketing company. If you have the budget, go for additional marketing techniques besides blogger outreach and SEO.
An important part of the makeup industry is an ability to break through the massive existing market. Makeup industry is full of competition and you would have to be consistent to be able to push through.
Give yourself 6 – 8 months of no profit phase. To make it work, save enough money for production, promotions and obligations, and additional backup finance for the next 8 months at least.
Besides, you have to come up with great marketing strategies to gain your audience. With makeup products, Facebook, Instagram, and YouTube can be very useful marketing mediums. You can post short videos about your products and give your audiences free video-demos, discounts and promotional offers.
Part of your marketing strategy should be visiting salons, malls, and supermarkets where you can give out free samples of your products to walk-in customers. Marketing is quite crucial and it is important that you invest a good amount of money in advertising on fashion expos, magazines, radio ads, newspaper, and such other platforms.
Work hard and wait. Don’t choose cheap means to increase profit margin. Once your product gets accepted in the market, you can rest assured that you will be able to break-even in a few months and earn profits thereafter.
Meanwhile, let us know in the comments below what should be a newbie’s unique selling point. Don’t forget to share, and subscribe for more interesting freelance career options.