Want To Start A Hair Extension Business? Here Are 9 Things You Should Know
The hair is integral to every woman’s beauty as we all love to look good no matter the size of their pocket. ‘Looking good is serious business’, they say.
Some won’t mind go hungry or even spending their last money just to make a great hairstyle or buy a new wig.
The hair extension and wig business is, therefore, one of the most sought after in Nigeria and Africa as a whole and it is also very lucrative and profitable too.
Minimal cash is needed to start and you can start from the comfort of your home.
If you, therefore, have a flair for hair and beauty, the hair business is for you.
Here are the steps to follow when you want to start a hair business:
1.Do your research
Before you go into any business at all, it’s best you educate yourself properly. The hair business is no different as it can be quite complex and broad. You need to familiarise yourself with the difference between synthetic and human hair, various types, length, inches, sizes, what they are made of and also where they are made from and so on. Your customers will be asking you a lot of questions so make sure you do enough research. It will also earn you their respect leading to great customer satisfaction.
If you need to get training to broaden your knowledge, that’s also fine.
2.Write A Feasibility Study
Make a list of how you want your business to succeed at the beginning and in the future. Think of how you can compete with the existing competitors in this line of business. know how much you need to start up, and what the turnover would be. Also, find out where to buy your products, either from the distributors or manufacturers in order to get products at a reasonable and affordable price.
3. Create a Brand Name
You would need a brand name. Won’t you? This helps to build your business and help customers identify with it. Ensure that your brand name is attractive and enticing enough.
4. Get a physical store
You can open a retail store or become a flea market vendor. If you don’t want a physical store, you need to get somewhere spacious for storage free of dirt, dust, and pets. More preferable is getting a space where you can hang your hair which makes it easy for customers to walk in and instantly find what they want.
5. Or Sell on Online Stores
There are several online and e-commerce platforms you can register with to sell your hair.
This is a great way to get customers as a newbie and it would make it convincing to potential buyers that it is actually a business.
6.Set up wholesale accounts with the Manufacturers
Try as much as possible to source for your stock from the manufacturers the cost is quite moderate. Most of the hair attachments come from Asia. They are cheaper there. But if you don’t have enough capital to import directly your goods directly from China, you can consider obtaining from nearby makers. All things being equal, you can get your product at a sensible rate while being guaranteed of good quality. As a result, you will have the capacity to offer your goods to your clients and customers at a reasonably moderate rate.
7.Sell Related Hair products
There are some other related products that are used to make hair such are; weavon brushes, needles, weavon glue, weavon oil, relaxers and all types of hair cream and anti-dandruff for hair. This does not only attract individuals but also calls for the attention of salon owners to patronize your business.
8.Keep Your Prices Moderate
Have it at the back of your mind that there are numerous competitors in this line of business. Ensure your cost is extremely sensible and sufficiently appealing. You do not have to make a huge benefit as a starter. Getting more patronage and clients should be your topmost priority at the start. Giving them the best quality at moderate rates will make you have repeated clients and patronage for a long time. You can also offer discounts and sales from time to time.
9.Promote your business online
We are in the digital age and you don’t want to be left behind. Make sure you promote and establish your online presence by setting up social media accounts for your business. This is very important to the growth of your business. Make sure the accounts are updated regularly with your latest products. You can also create valuable content through text and videos by showing your followers how to take care of their hair, how to style their hair etc. If you are too busy, you can get a social media manager to manage the accounts.