Entrepreneurship has inspired several people to launch small businesses around the globe. Many have converted their unique ideas into home-based business opportunities. While some have turned to show off their skills by teaching makeup tutorials, others have invested in buying and selling makeup products. Without a doubt, dedicating time, money or effort to the cosmetic industry has proven highly lucrative.
Right now is the ideal time to enter the cosmetic market. Pandemic has led individuals to spend a lot of time at home looking in the mirror frequently or viewing themselves on video calls. It has consequently increased the number of people seeking to improve their looks, indicating business owners to seize the opportunity.
If initial capital concerns you, try following the footsteps of several cosmetic gurus like Huda Kattan, or Revlon, who started small. Focusing on just one product when starting the line is a clever and proven strategy to take your business to heights. It is also easier to maintain the quality when you are focused on just one product. Once you win the hearts and trust of the masses, introduce other product lines to expand your business.
If you’re still on the fence about which product line to choose, go for a lip care line! It’s one of the makeup essentials, easier to delve into, and an affordable option. Moreover, you can make a very high-quality lip tint at home simply by following YouTube tutorials.
Hopefully, this guide will help you launch your lip gloss company with confidence.
Familiarize yourself with the industry
Did you know that lip gloss, like many cosmetic products, comes from either private labeling or contract manufacturing? They each have their merits and demerits that can affect your bottom line. If you’re in the initial phases of figuring out how to start a lipgloss business, familiarize yourself with both these methods, then establish a workflow that works for you.
Some private manufacturers sell their unbranded products to well-known brands, who then use their logo to sell them online or in stores. Since you don't need to spend any money on product development, testing, or FDA approval, this method has a low startup cost. And it consequently minimizes the possibility of a loss.
Here, you create your own lip gloss formula and take it to a manufacturer, who will then manufacture and ship the product on your behalf. Although this route requires more logistical effort and a deeper understanding of makeup components, you can make a unique product and target more niche markets.
Depending on your range, both are convenient alternatives. All you need to work on is your resources and contacts. Once you decide on which route to take, follow these steps to ensure the success of your business.
Website and Stores
Starting a business requires you to register as a private company. You should consult a lawyer for this step, as the process will vary depending on the state laws. Online stores are generally less expensive to set up, you should create a website or a web page to start online business and you can use existing sales services like Shopify to receive payments. In addition, you should also set up social media accounts to maximize your reach.
Unique Marketing Themes
Make sure the graphic you choose to label your lip gloss tube with should have some message, so it can reach the target audience. For instance, a cute cat, pouty lips, an exotic beach, vibrant colors, the themes can be endless all convey a unique message. The psychological effect of color marketing will help you get your product off the shelves.
You need to take great product pictures if you want to catch someone's eye while they're scrolling through Instagram or Pinterest. You don't need a fancy studio to take great pictures. These days, most phones can take stunning images through computational photography. With good lighting and a few props, you can take great product photos at home!
Photographs are only half the battle. The way you describe the product helps a customer visualize what it will look like on them. Explain which lip gloss is suitable for everyday use, which one is ideal for parties, and so on. Detailing your product will encourage people to purchase it.
Provide Good Customer Service
When buying new products, people rely on good reviews and word-of-mouth referrals. Offering good customer service will help you get better reviews. When you are quick to respond to queries, and in a friendly manner, you increase the customer base and build brand loyalty.
Launching your own product may require hard work, hours on the phone contacting dealers and buyers, and lots of research. But, once your product is recognized, it will be all worth it, and you can be your own boss. Compared to other businesses, a lip gloss business is easier to market. You can take advantage of the increasing fashion industry and promote your product through color images. Clever copywriting also helps, and a few marketing techniques, plus efficient customer service, can go a mile.