Twenty Hair Business Questions AnsweredStarting a hair business can be tough, and finding someone willing to give you all the dirty details on running a hair business can be tricky. You may feel like you're being overcharged or asking way too many questions, but the good news is that I have some answers for you that are free. Private Label Extensions offers live Instagram stories providing good branding and selling information. Here it goes, the most frequently requested among hair entrepreneurs!
What It Takes To Start A Hair Business
1. Is It Worth It?While this questions can be subjective, it is still valid. Examine your reasons for starting a hair business, do you have a passion for hair? Are you looking to make a lot of money? Do you want a name for yourself in the world of cosmetology or are you joining the hair game so that you can indulge yourself with bundles whenever you want? Regardless of your reasoning and the rationale behind it, I'll move to answer that the short answer is: YES! Selling hair is a financially, and mentally rewarding experience. As a hair expert, you will be able to be your boss, make money in cash, fulfill all your heart's hair desires, and provide a much-desired service. I have met very few people who have regretted starting their hairline, and who haven't reaped the benefits of selling hair.
2. How Do I Get Started Selling Hair?Getting started selling hair seems like a difficult task, but with a useful checklist, helps your plan get accomplished quickly. First, you need to have an idea of the kind of image you want your business to have, how much you are willing to spend, and a healthy business plan.
3. What Do I Need To Get Started?To get started in the hair game you need these three key things:
4. Is Running A Hair Business For Me?Before starting your hair company, it's a good idea to ask yourself these questions, to save yourself time and disappointment. It is essential to make sure you are ready to commit to being a business owner.
- Am I Financially and Mentally Ready To Be An Entrepreneur?
- Do I Have The Skills Run A Hair Business?
5. What's The Most Annoying and Difficult Thing About Starting A Hair Business?Every extensions line has been asked the same questions, "What is most annoying about selling hair?" And the answers typically have to do with being asked even more questions! People feel that their website, Instagram or hard made creative flyers overlooked as they are continuously asked the same problems or pushed to change prices/ alter policies. You must have thick skin, and be ready to have a firm yet fair hand when dealing with customers.
Financial and Logistics
6. How Much Should I Invest In My Hair Business?How much to invest in your business can be a tricky question to answer. It depends on what wholesale program you choose, whether you decided to dropship or buy inventory upfront, and how much product you want to start. Initially, it is good to anticipate setting at least two thousand dollars aside to get started. This initial investment will include the price of hair, vendors and promotional opportunities. Private Label Extensions has all of these options available on their website for an affordable amount, as well as real-time messaging for questions.
7. Where Do I Find Vendors?Finding vendor information doesn't have to be difficult. The best option is to see a hair company of quality that is nearby and check out their samples, wholesale program, and hair business classes. Sampling vendors are useful because it will help you decide what kind of hair you want to purchase, and the types of hair companies you'd like to be your business partners. Hair companies often also have an option to purchase their vendor information, this will include the contact such as email, number, location, and prices. Reliable vendor information will come from a respectable company. So, be sure to do your research such as sampling the bundles, and arranging correspondence before purchasing!
8. Will I Need Storage and Employees?It is cheaper not to have a full out storage unit and additional employees. If you are not doing a drop ship program, then you can keep your hair inventory in waterproof storage bins inside your home or a cleaned out linen closet, instead of paying a monthly storage unit fee and driving out to your storage each time you make a sale. Employees make your business more complicated. There will be rules to follow about hiring such as interviews, resumes, and payment information like payroll services, a steady stream of payment to your employee, an EIN and tax information for your employees. As a small business, it would be more cost effective to start out with yourself, bundles, a primary website and some storage containers.
9. Do I Need a Website?A website is essential to the success of your hair company. Having a site will make tracking, fulfilling and taking orders easier. Furthermore, having a section means that you have a bigger platform to showcase pictures, write your rules and answer any questions frequently asked. Your website does not have to be expensive, a basic plan with Wix, Big Cartel, and Link that connects your Instagram and website, are free and easy to navigate.
10. How to Handle Shipping and Tracking for Orders?The best way to handle shipping and handling is to work out a day that you ship on, like Mondays. So, that customers orders usually come by the end of the week; additionally, get an account with the US Post Office or UPS. Using the US Post Office makes sure that you get tracking numbers, you can keep a record of all transactions and can cheaper rates on shipping. One of my personal favorites is changing a "flat rate" on shipping costs; this enables you to appeal more to your customers. Be sure to always keep a physical trace of the order fulfillment, shipping dates and estimated arrival, as well as a signature, is required to ensure that the client has received their hair. Adding a signature delivery provides that you will have no misplaced packages or chargebacks.
11. How Often Should I Reorder Hair?The "Re-Up" as we've heard it called in every gangsta movie ever, is a tricky concept in the hair world. If you are buying inventory upfront, it can be a daunting task to sell, organize and store all those extra bundles until they sold, and your investment returned. On the flip side, it's worse not to have the hair length, texture or quantity ordered from your website. The best option is to keep a 'minimum' amount of hair that you will store on hand in each length and texture. For good measure, you should always have at least six bundles of each texture. Keeping hair on hand makes sure that even if you do not have the specified length, you are always able to offer a complete 'bundle' of alternatives in the straight, wavy or deep wave. Additionally, it is best to order new inventory before you are completely dry or when you've reached your 'minimum,' this way you have hair on hand. But you also do not have inventory that is taking up space, and could potentially be wasted money.
12. How Should I Price Bundles, Wigs and Bundle Deals?Pricing plays a crucial role in turning a profit and attracting customers. However, I am a firm believer in people pay for what they want! So do not shortchange yourself to bring in more customers, you want to be able to make a profit on your business not sell out and still be in the financial hole. Bundles need to be priced based on what you got for them wholesale, the length, and exclusivity of the textures. For instance, longer lengths or hair types like Indian are more expensive than others. A stair-stepping price list can be useful for Indian Deep Wave Extensions, 10 inches $70, 12 inches $80, 14 inches $100. Small increased increments will make your pricing less complicated and more comfortable to follow. Most bundle deals start at $180 and advance from there. When making your bundle deals, bundle lengths typically purchased together and the most profitable individually, as well as your least useful lengths. For instance, if your ten inches is barely selling, make a deal so good that people feel compelled to purchase!
Products and More
13. What Other Products Should I Sell?The great thing about running a hair business is that selling hair opens up avenues for additional products, and that means additional revenue. Products that deal directly with the upkeep of the hair like holding spray or a conditioning spritz can be manufactured and sold as a side item along with your hair. Additionally, things like flat irons, bonnets, wig stands, hair bags and bonny pins can be branded with your logo and sold in a bundle deal with your hair or wig units. Keep in mind that adding on new products will require more branding, ordering, packaging, and troubleshooting. New products mean new issues and you have to be prepared to take on reviews, storage, and functionality when adding on new products.
14. When Should I Expand My Hair Business/ Do I Expand?Expanding your business should always be apart of the long-term plan! Business, like life, is meant to get more substantial, and move forward. The question is not about whether you should expand, but when you to grow. Starting out your hair business with only bundles, or wigs is not a bad idea. It will take time to get the hang of running a business, building your brand and working out the kinks. It's easier to focus on one aspect of your business before shuttling in different things. You should begin expanding your business once you have a good handle on your budget, and have grown your customer base. For instance, you've been running your business for a year, and you have increased your profits steadily each month. Once your company has growth and stability, then it is a good idea to take it to another level, invest more money, and put more energy or products out with your line. Furthermore, expansion should come when you notice that your company pushed in the right direction. For example, you have plenty of customer requests for adding a new texture, or you are continually being asked to refer a wig maker. The key to surviving in business is giving the customers what they want and staying consistent.
15. Do I Need Special Packaging and Labels?Branding is an essential tool for making sure your business is easily recognizable and stands out from the crowd. To answer the questions frankly, you do not need to have wig bags or a logo on everything that leaves your company, but you should! Displaying your name on bundle tags, wig bags, and flat irons let customers know exactly where the product is coming from, is a means of advertisement for everyone who sees your products and reaffirms your place as an official and legitimate business. Logos typically cost anywhere from $20-$100 dollars depending on the designer, the size, and complexity of colors and fonts involved in the logo. The good part is that once you have a logo, it is easy to get it put onto different products and your work's finished!
16. Do I Need A Brand Ambassador?Brand Ambassadors are not a must, but they are great ways to get more eyes on your hair, gain positive reviews, and build a connection with customers. Brand Ambassadors can be paid per post, paid a flat rate, or even take their pay in bundles! The best way to pick an ambassador is to put out your email and ask people why they want to represent your business. It is best to choose candidates who have purchased from you before, and know your product so they can give an honest review, and are not just "bundle hungry." Brand Ambassadors need to be people who are reliable, popular on social media and have a good grasp on your vision for the direction of your hair business.
17. Should I Pay for Instagram and Facebook Ads To Promote My Business?Ads on social media can play a crucial role in expanding the reach of your business and pulling in new customers. However, this is an extremely personal question due to the nature of Instagram and Facebook ads: they cost money! It can become expensive to get ads ran on Instagram and Facebook, due to minimum spending balances and recurring payments that are imposed by the social networks. Additionally, some people overlook ads intentionally placed to rope in their money and attention. However, posting your work, sales and reviews are great for your business, but having an Instagram and Facebook Sponsored Ad gets your company in front of hundreds of other eyes. Look over your budget and your stats on both of these social networks before deciding if getting a "sponsored" ad is for you.
18. How Often Should I Post?Finding a good post schedule can be tricky. You want to keep your company in peoples mind so that when they shop, they are going to think of you, but you don't want to come across as a spam account. It's alright to post every day; as long as the content is varied. Nobody wants to see the same flyer and caption every day for a month, but a variety of eye-catching and informative posts will do the trick! Post about your bundle deals for two days, then day three post a funny picture or an inspirational quote. For another two days out of the week post something on your Instagram story that relates to your hair business like choosing new textures or even an interactive vote. Viewers want to feel like your account is personal, and that you are not merely selling and pitching to them nonstop. Another method that works is posting every other day. Alternating posting gives your followers a quick break from seeing your name, and time to miss you, but ensures that your posts are always current, relevant and expected.
19. Should I Partner with Someone Else?There are a few levels of partnering in the hair world! You may have a co-owner, brand ambassadors, or specialty partners. Choosing to be a co-owner is a good move, you have another set of eyes on your inventory, money and the overall flow of your business. Just be sure to pick someone who is also passionate about the work they are doing and able to contribute to the company positively. Specialty partners are amazing if there are things that you do not know how to do, but your customers need like a wig-maker, someone good with plucking and bleaching closures, and a colorist. It may be a good idea to find another person that is starting out, willing to be apart of your company and service your customers. Having your own built in a team will cut down on people taking their business elsewhere and will function as a working business relationship for you and your stylist.
20. Do I Always Have to Wear Weaves To Promote My Hair Company?It's good to see the owner of a extensions company wearing the extensions. However, you do not have to box yourself in to make sure that your business flourishes! Wearing wigs, or getting regular installations is excellent and a great way to continuously test out your product while promoting your hair company. But if you want to give your hair a break or you prefer. Not to wear weave, models and customer reviews are just as good!
Stop Questioning and Start Doing!As anyone who's about to embark on a new adventure, there are a million questions to ask before diving in full force. As a new extensions line owner, or an inquisitive onlooker, selling hair looks glamorous and comfortable, but many things go on behind the scenes that make a hairline successful. One must have a reliable vendor, money to start their business, a strong following and excellent customer service skills to succeed. Asking questions is the quickest way to get the knowledge you need to be apart of a hair business, but the best way to figure it out for sure is to get out there and start doing! Trial and error is the best way to maneuver through the hair game. Drop some questions that you've always had about the hair business below!
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