How to Open a Wig Store
In addition to offering full wig pieces, wig stores carry an assortment of clip-on hair pieces, extensions, partial wigs and hair accessories. Wigs are worn by a variety of women, including those recovering from chemotherapy and radiation treatments, those with thinning hair and women with hormonal imbalances who suffer from patches of lost hair. In addition, women seeking to change their image and alter their hair color or length, without subjecting themselves to chemical alteration, frequently turn to wigs. Many men with thinning hair also shop at wig stores to purchase hairpieces.
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Instructions
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Learn all you can about the wig industry. Attend hair shows and conventions such as the annual International Beauty Show (IBS) in Las Vegas or the America's Beauty Show, which hosts several conventions each year. Subscribe to industrial periodicals such as those offered at hairgoodswholesale.com and stay current with the latest wig fashion trends.
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Learn the basics of artificial hair. Research the different manufacturing techniques and learn the difference between synthetic and human hair. Be prepared to explain to your customers the pros and cons of each type of hair and help them determine which will be a better fit for their individual needs.
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Apply for a business license.
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Hire a consulting firm to develop a professional business plan. Include a market analysis, start-up fees, running costs, projected profits, demographic information, etc.
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Locate a lending institution that specializes in small business loans. Provide them with your professional business plan and apply for a small business loan.
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Find a location in a high traffic area that is conducive to a heavy female clientele. Consider a location in a large mall, smaller strip mall, near hair and nail salons, near make-up and jewelry stores, etc.
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Stock your store with service counters, commercial shelving, display cases, etc. Shop around for the best rates and don't overlook small, local manufacturers who may be able to offer more competitive prices. Consider purchasing used retail store items from shops that are moving or going out of business.
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Search for manufacturers of artificial hair. Perform an internet search to locate both domestic and international suppliers. Purchase all hair and supplies and aim for a delivery date of 4 weeks prior to the store opening.
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Arrange to keep a limited variety of basic wigs in stock. Add additional pieces as necessary, according to market demand in your area. Offer the option to order glamorous high-fashion pieces, ethnic styles, Halloween and theatrical pieces, or other specialized wigs from catalogs. This will cut down on inventory costs while still letting you serve a wide customer base.
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Advertise your grand opening in local newspapers, online social websites and on your local radio station. Mail out flyers and leave business cards with local hair and nail salons, cosmetic and jewelry shops, local oncology and cancer treatment centers, etc.
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