How to Open a Retail Cosmetics Store

Do you dream owning your own cosmetics and makeup store? Or is it skincare and makeovers? You can do it, with some time, effort, committment and planning. You don't have to be a makeup artist or a savvy professional, it justs takes a lot of hard work.

Things You'll Need

• Business license
• Tax software
• Good location
• Tax ID
• Dedication

Instructions

1. First thing you need is a plan, a business plan. You can find templates online to borrow from and in that plan make sure you have a budget. If you are applying for a loan you will need this to show that bank that you are worth the risk and how you plan to make your cosmetics store go. This is actually true with any new retail store.

   You will also need a city and/or state license, but you will need to check with your state and make sure the name you choose for your business is not taken.

   You can set up as a sole proprietership, partnership, or a coporation, but the best thing is talk to your accountant to help you decide what will work best. They can also assist you with a tax id number.

2. Brands - You will want to decide want brands you will carry. Remember many of the major brands have either very large minimum orders or exclusive agreements that may limit you, so check it out first. For instance MAC cosmetics only sells from their stores or counters they own in major department stores, so you can't carry their products, unless you buy them from surplus dealers and then you can't advertise them since you are not an authorized distributer.

3. Location - As the saying goes location, location, location. Make sure you choose a high traffic area that is easy to get too. People don't like to cross in busy intersection, seriously! You may think it is ideal, but be sure that it easy to get to and has parking for your customers. Also look at the rental cost versus buying the property and whether or not the rent has be increasing to quickly. You may also want to make sure to get a 1 year lease versus a longer term, so that you can evaluate the success of your makeup store.

4. Finally, advertising. No one is going to know you are ready to do makeovers or sell them some sizzling eyeliner, if you don't advertise. Be creative! Advertise in local college papers, write a press release for the paper and local publications, donate products to women's charity events. Try as much free advertising as you can and then work small amounts into your budget to bring up the awarness. TV and radio can be expensive, because frequency is needed to catch the viewers. Network at local events and make your business know for the lastest cosmetics. Try to get local cosmeticians to refer their clients and offer them big discounts.

5. Grand opening. Don't forget to plan a big opening to get that first rush of customers. Do free makeovers, coupons, samples. This is the first time to get them hooked.

Tips & Warnings

• BUDGET - be sure you know what it will cost you and if you are willing to spend it in terms of cost and time

• It is not easy...if you have a family or time consuming tasks this may not be for you.

Resources

• Small Business Association