A beauty-supply store is the perfect business venture for persons with a passion for hair, makeup and other beauty products. Like most businesses, a beauty-supply shop requires time and money. Before launching the business, do your research and make sure you have all the necessary components.
Things You'll Need
- Business license
- Business plan
- Small-business loan
- Wholesale supplier
Take business courses. You don’t need a college degree to open a beauty-supply store, but you need some business knowledge. Study business financial management, inventory control, budgeting and entrepreneurship.
Work in a beauty-supply store. Before starting your own beauty shop, find employment with a local beauty-supply store or other retail store. Learn the ins and outs of working in a retail setting, understand customer service and learn about your competition.
Find a location for the business. Situate beauty-supply stores in a busy area. Choose a location that receives a lot of foot traffic--perhaps a strip mall.
Write a business plan and obtain a license. Since you’ll likely need to apply for a small-business loan, create a business plan. Write the plan yourself or hire a professional. Visit your local city hall and apply for a business license.
Get a small-business loan. Every business requires start-up capital. If you don’t have cash on hand, apply for a loan. Check your credit score beforehand and make improvements to it if necessary.
Choose a supplier. You’ll need to stock the beauty-supply store with hair products, makeup and accessories. Research different beauty suppliers and pick the one that offers the products you want to carry at reasonable wholesale prices.