It takes a lot more than just understanding how to apply eyelash extensions to understand how to start an eyelash business. Possessing the skill is crucial, but it is only one-half of the puzzle. While many lash extension training seminars cover the basics of the application, they typically leave advice on removing them.
As with any other type of small business, starting an eyelash business gives you the opportunity for creative control over what you produce and how it looks. This post will provide you with helpful information on how to start an eyelash business.
According to a study done by Grand View Research, the artificial eyelash industry anticipates expanding to $1.6 billion by 2025. That’s more than four times the industry’s 2018 spending of $270 million.
So let’s dive right in and see how to start an eyelash business.
Follow these steps to know How To Start An Eyelash Business!
Before you can begin providing eyelash extension services, you must first acquire the necessary abilities and continue improving and enhancing those skills. Consider the following to ensure you’re registering for the proper eyelash extension course or studying from the right person:
Step 1:Obtain the Required Training and Qualifications
It would help if you had the necessary training and qualifications to become an eyelash technician to have a successful business. Some states require technicians to license to be legally compliant.
Here are some essential tips to follow:
- Look if your state has any cosmetology licenses. A cosmetologist or esthetician is generally enough, but it may not be in every case.
- Register your eyelash business with the state before opening it up to other people. It’s essential for health reasons and will save you from being shut down in the future.
- The city or town you operate in may require business licenses. This information will help ensure that your beauty services provider is appropriately zoned and approved by the city.
- Every lash business should have general liability insurance to cover any issues. This includes slip and fall accidents or products you sell.
- Consider hiring a certified public accountant who is experienced working with small businesses. This can be useful during tax season and help you identify any potential write-offs and organize your books.
Naturally, every state and country has different requirements. When researching the requirements of an aesthetician in your area, keep in mind that you may need to complete classes or pay fees before acquiring an esthetician license.
So following the above tips will help you acquire the training and qualifications needed to know how to start an eyelash business!
Step 2: Give Your Company a Name and Establish a Brand
After obtaining the training and qualifications, the next important thing to know about how to start an eyelash business is to come up with a name. When selecting a business name, make sure that it:
- Creates identity– can identify your business by its features and products.
- Is memorable– avoid complicated names that are easily forgotten in the future. When you have a unique company name, it will be easy to talk about with others through word of mouth.
- Has motivational factors – impressions of your brand’s passion and taste are what motivate people when they see or hear the company’s name
Create an alphabetized list of names representing what your business will offer, and then pick out whichever sounds best when said aloud and looks appealing on paper.
You need to decide on the kind of brand you want to start. Select a name that reflects the customer persona you’re trying to reach- be it cool and quirky or professional and formal.
Things to avoid when choosing a name and understand how to start an eyelash business :
- Involving committee members in naming the business
- The ‘train wreck’ method of picking an adjective, shortening it, and combining it with a noun
- Using plain words that will never stand out
- Cliché names (adjective related to the top position; they are overworked)
- Obscure words- customers will struggle with the meaning
Once you’ve determined your branding as such, the next step is creating missions, goals, and visions for yourself.
Step 3: Identify Your Market
Who is your target audience? This will depend on the demographics and characteristics of that group. Consider this when you are deciding to market your business.
When you’re looking to reach out to a new demographic, it helps if you know what your competitors are offering.
Pretend to be a client and go to their saloon to get a sense of the type of experience they provide and the prices. Their competition menu is also a great source of inspiration for how to start an eyelash business and make it more successful!
Step 4: Creating a Business Plan
The words “business plan” may make you feel a little intimidating. Your company strategy doesn’t have to be filled with intricate financial calculations and market research. Instead, consider it a road map for how you intend to establish and build your company. Include the following in your business plan:
- A brief description of your company
- The services that you offer
- Your marketing strategy
- The legal structure for your company
- Pricing and startup cost
For market research, it is essential to gather information about your potential customers and competitors before making decisions on pricing or providing services; otherwise, your numbers may not be reliable because they lack data from those who would use them.
There may be a small market for what you offer, but if no one else is providing this service, even half the town with a need or want can make it successful for you.
Furthermore, you will get to know more about how to start an eyelash business, so keep on reading!
Step 5: Get your licenses, permits, and fees in order
If you want to understand how to start an eyelash business, you may need to register your business before legally opening it. The four business formations available are a sole proprietorship, a limited liability company (LLC), a corporation, or a partnership.
The Small Business Administration has excellent resources that can help you write a thorough and well-researched business plan if you’re starting to start a sole proprietorship (doing business as).
You can use your Social Security Number (SSN) to register your business name or DBA. You’ll require an Employer Identification Number (EIN) for all other business formations. Contact your local business development agency or the secretary of state’s office for further permissions and licenses.
You can also look for approval and tax requirements by the state in the SBA database and the Internal Revenue Service (IRS).
What more do you require for your company?
After understanding how to start an eyelash business in the above steps, there are two most important things to be acquired in case any requirement is needed in the future.
- Insurance: Obtain company insurance to protect yourself from liability and give coverage in the event of client injury.
- Open a business bank account: Whether you’re forming a single proprietorship or a limited liability company, having a dedicated bank account to accept and pay your expenses is critical to your day-to-day operations. Keeping track of your income and costs will be easier and faster with a business bank account.
It requires you to register a company bank account or hire employees for your firm. Read on to know the further process.
Step 6: Set Pricing Options
Your clients’ expectations and current market prices are two of the most crucial things to know and consider when choosing your product prices. For the same reason, conducting an initial market analysis is critical to gathering essential information that will influence the decisions you make for your lashes business.
When deciding to price and know how to start an eyelash business, some factors to keep in mind:
- Cover the costs: Set prices that cover the costs of supplies, labor, and overhead. You won’t make any money if you don’t cover the charges.
- Consider market and rival prices: You need to set your prices based on what competitors offer and market prices. Don’t be afraid to charge a little more if you can provide that extra touch that your competitors can’t.
- Use a dynamic pricing strategy: The beauty industry is highly competitive and demands an active pricing strategy. Dynamic pricing is the best technique because it manages everything on its own.
The way you price your things will determine whether or not you succeed in business. If you get your pricing wrong, you’ll have many problems along the way. Use this advice to determine rates in line with your company’s objectives.
Step 7: Promote your company and develop a clientele
As you gain more experience, you will find what methods work best for your needs. Here are a few ways to reach your potential customers:
- You can build your website. It doesn’t have to be elaborate, but you will want a page introducing you as an eyelash professional, a list of services, and an online booking system.
- Make sure your website is linked to Google My Business so that you’ll show up when people search for lash extension services near you. You can also add your business to Yelp!
- Posting on social media platforms like Instagram and Facebook; can help you attract clients, and you can use tools to help you schedule and manage your account consistently.
- Attend community or volunteering events. You will be helping the people who live in your area, but you will also get to know them better at these events.
- Word-of-mouth is the best form of marketing for small businesses. Make sure you ask your customers politely to refer and share their experiences with others.
It’s vital to start on a small budget to provide your clients with a safe and clean atmosphere. The most cost-effective solution would be to store your business at the client’s house or from your own home.
Here are some tips on how to make a salon-worthy acquaintance at home:
- Ensure that the room you are using is clean and devoid of waste.
- Provide a professional environment for your clients.
- Offer your customer a comfortable chair or massage furniture to sit or lie in while you apply their lashes.
- Create a peaceful atmosphere by playing soothing music and lighting fragrant candles.
- Provide your customers with clean, fresh towels to use.
You may create a lash store by leasing a space or chair from the salon as your business grows. This will give your lash extension business the appearance of being more trained and responsible and attracting more business from clients.
You will easily learn how to start an eyelash business by following these steps.
Now that we have covered all the steps on how to start an eyelash business, try opening one to boost your career to the next level. Starting a lash extension business is an exciting time. The options are truly limitless. However, it would help if you did not make this decision hastily. Before starting your own eyelash extension business, it’s vital to think about all of the topics presented in this article.