How to start a beauty supply store with no money
When I started my business, I didn’t know anything about beauty supply stores. All I knew was that I wanted one and that it seemed like a fun and exciting way to make money. I tried to find information on how to start a beauty supply store with no money, but there wasn’t much out there! After months of research, trial and error (and failure), we were able to build our business into something successful — not just for us but also for our customers in the community who rely on us for affordable cosmetics and supplies. Here’s what you need to know before investing in your own beauty supply store:
Location, Location, Location.
Location is very important. If you’re looking for a good location, look for areas where there are lots of people and businesses that need beauty supplies. You also want to make sure that there’s easy parking nearby so customers can park their cars. If you have trouble finding an ideal spot, consider opening up shop near another business that sells similar products (like a salon).
If the area around your store isn’t busy enough or if there aren’t enough customers walking by every day, it may be difficult for your business to thrive–and this could lead to financial problems down the road. On top of all this, it could be hard for potential employees or suppliers who drive long distances just so they can visit your shop on a regular basis because there aren’t many other options nearby!
Research your market.
Before you begin, it’s important to research your market. You need to know what products are selling and where the gaps are in the market.
- Check out your competition: Look at other beauty supply stores in your area, or even better yet, go into them! See what they’re doing right and what they’re doing wrong so that you can learn from them. If there aren’t any good competitors near where you live, then use online searches as an alternative method of gathering information about their inventory and prices (and how much they sell those items for).
- Find out what customers want: If possible, ask some friends who work at salons or barbershops if they’ll let you interview them about why they chose their particular stylist/barber rather than another one; this will give great insight into what kind of services people seek out when getting a haircut or facial treatment done by professionals trained in those fields (i.e., cosmetologists).
Create a budget.
Now that you have an idea of what the business will cost to start and run, it’s time to create a budget. A good way to do this is by creating a list of all the things that need buying, then breaking down each item into how much it costs and how much space it will take up in your store (if applicable). That way, when deciding whether or not an item should be included in your store–and therefore part of your budget–you’ll know exactly where it would fit into both categories.
For example: Your product list includes 100 lipsticks at $3 each; 200 nail polishes priced at $4 apiece; 25 bottles of hairspray priced at $20 each; 10 curling irons priced at $50 each…etcetera!
Use social media to build relationships with customers in the community.
Social media is a great way to build relationships with your customers, suppliers, and other businesses in your community. By using social media effectively you can:
- Build customer loyalty by offering discounts on products or services for being active on social media channels.
- Get information about what people need from local businesses (e.g., if there’s an upcoming event happening where you live).
- Find out which products are popular among your target market (you could then use this information when creating new products).
Start small, but be prepared to grow quickly if need be.
One thing that’s important to remember when you’re starting a beauty supply store is that you should start small. Don’t overspend on inventory or equipment if you aren’t sure whether or not your business will be successful. However, if it does take off, then you’ll have plenty of time to expand your business as needed!
If things go well from the get-go and people are flocking into the store every day (in which case: congratulations!), then this means there is demand for more products in this area and it may be worth investing further into expanding the shop itself. But if sales aren’t so great after a few months? Well then maybe consider moving somewhere else with more foot traffic–or perhaps closing up shop altogether!
Don’t rely on a loan to start your business; it might not come through
You should never rely on a loan to start your business. If you do, and it doesn’t come through, then you’re in trouble. You’ll have no way to get started without the money from that loan and may miss out on other opportunities because of it!
The best case scenario is that your application gets rejected because of something minor like sloppy paperwork or an incomplete application form–but even then, this can cause delays in opening your store that could be costly down the line.
If you do get approved for a loan but find yourself unable to make payments as agreed upon (whether due to cash flow issues or other problems), ask if there’s any flexibility in payment plans so that they don’t repossess equipment from their customers’ hands while they’re still paying off debt incurred during startup costs
As we’ve seen, starting a beauty supply store is not easy. You have to be prepared to work hard and make sacrifices in order to succeed. But if you’re willing to put in the time and effort required for success, there’s no reason why your dream shouldn’t come true!