Are you passionate about fashion and beauty care? Do you want to do business in the beauty care industry? Then here’s a sample business plan template on how to start selling human hair and hair extensions.
Human hair is highly sought after for making extensions, braids, custom wigs and hair pieces. This type of hair is preferable to synthetic hair blends because it looks more natural and is more versatile, since it can be heat-styled without damage. Because human hair is a coveted commodity with widespread usage, selling it can be profitable business. If you want to become a supplier of human hair, there are several things you should consider before launching your business.
Because human hair looks more natural, versatile, and damage resistant, it is preferred to synthetic hair for making extensions, custom wigs, hairpieces, and braids. The demand for human hair now keeps booming. I believe you are aware of the mad rush for human hair such as Brazilian hair, European, Peruvian hair, Indian hair, etc.
In fact, that trend is still on and women are comfortable coughing up a huge sum to possess one. So whether you are resident in the United States, Canada, Ghana, U.K, Nigeria, etc; then I want to tell you that selling human hair and hair extensions is still profitable.
If you are looking to start a side business that will supplement your income, then consider starting a business that sells human hair and hair extensions. Before taking a plunge into this business, you need to know the steps involved; and here they are:
Instruction:
Step 1
Learn about weaving and the various types of human hair available as well as the differences between synthetic and human hair weaves, so that you can better serve your customers. If someone wants to buy a 16-inch weft of remy hair, you don't want to hand her an 18-inch bulk bag of European hair because you don't know the difference. You also need to be able to advise customers on which hair is best for different types of extensions, wigs and braids. Read cosmetology and hair-care books, consult with licensed hairstylists and browse Internet hair-care forums to find out all you can about the products you plan to sell.
Step 2
Pick at least one venue in which to sell your merchandise. For example, you can open a brick-and-mortar retail store or e-commerce shop or become a flea-market vendor. If you do not plan to open a physical store, you will need to also secure storage space that is free of dirt, dust and pets. A warehouse or commercial storage facility are options, but you can also use inexpensive, air-tight storage containers in a spare garage or closet. Human hair can either be hung up or laid flat. As long as it is not bent or twisted, you will not ruin it.
Step 3
Set up wholesale accounts with manufacturers and brands of human hair, such as Bohyme, Milky way or Saga. To get the lowest prices, you will likely have to work directly with international manufacturers rather than buy from a distributor in the United States because most human hair for weaving is gathered and produced in Asia.
Step 4
Provide incentives for customers to shop with you. There are thousands of beauty supply shops across the country that sell a wide range of human hair. You need to give people a reason to patronize your business as opposed to the competition.
Step 5
Sell items that are typically needed to weave human hair, such as bonding glue, hair razors and weaving needles, to increase your profits. Odds are your customers will need to buy these items, so why miss out on the chance to make extra money? Many distributors of human hair also sell wholesale weaving supplies.
Step 6
Offer discounts to salon professionals and cosmetology students to gain steady, repeat business. Such clients can be very valuable and you will make up the cost of the discount easily as they usually buy more hair at a time than regular customers. The discount you offer should be between 20 percent and 35 percent off retail price, depending on what is standard in your area.
Step 7
Promote your business. If you have a physical store, get known in your community by producing or sponsoring a hair show, fashion show or related event. You can also donate hair or supplies to help make custom wigs for people who have lost their hair due to alopecia or cancer. Doing so will give a you a personal sense of satisfaction and may enable you to gain media coverage. If you sell your human hair products online, set up social media accounts, start a blog that provides hair-styling tips or post ads on forums and websites frequented by your target customers.
Human Hair Business Plan:
A human hair business plan is a fairly specific document. You aren't likely, try as you might, to find a great workable sample out there, or a fill-ready template that will take a lot of time off your hands. Whether you plan to offer human hair as part of an extensions business catering to high-end salon customers or make wigs for chemotherapy patients, this is a custom business and you're going to need a custom plan. A bank reviewer will want to see a clear market needs assessment and a three year financial model providing evidence that you can cash flow the loan; an investor will have even more discriminating criteria, and will demand a five-year model with an IRR calculation. Questions to answer as you write include:
• What are your start-up costs, by category?
• What does your operation look like?
• How do you acquire and repurpose the human hair?
• What licensure or permitting issues will the business face?
• How do you make your sales?
Additional questions, like what brand promotion techniques you'll engage in and how you can explore partnerships that will put your product in new markets, are also important for the implementation plan. Don't forget to write about yourself and/or your team, with information on their backgrounds and why you can be successful running a new human hair business. Most importantly, lists of potential customers and any research you can put together on the number of buyers you can realistically expect each year will be critical to your presentation. Master Plans can write the human hair business plan for you or any other specialized business plan you need. Call our team of expert writers and modelers today at 877-453-2011 to learn more.
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- If you are ready to go, or not sure what kind of plan you need, fill out the form below and we'll call you.Toll-free: 1-877-453-2011
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