The demand for beauty care products/services are evergreen
Think beauty business as food or a clothing market...
These mentioned markets have remained consistent in sales volume and patronages regardless of the economy, across the globe.
Meaning, beauty market is oneof the 'fastest moving commercial goods' market(FMCG).
Regardless of how you feel in a day or a week, there is no 'freaking' way, you won't get to eat at least a-day meal, or wear a piece of clothing to cover your back... Right?
men & women never stopped craving for personal care solutions
Beauty products and its related professional services also draws from the hierarchy of needs theory by Maslow.
The constant craving and demands for highly superior beauty solutions are the reasons cosmetics and beauty business remain evergreen, that can never go out of season.
However, Before you commit yourself.... making huge sacrifices. To build a success worthy beauty business, you should learn the basic business skills needed to develop your beauty category.
Maslow hierarchy of needs|BSM
From Maslow's hierarchy of needs theory; It is safe to infer that, a female-only cosmetics brand, could focus its marketing and sales campaigns on the need and the desire to improve the self image of its targeted consumers...
These simply fuels the emotions behind the successes of most beauty consumer products that enjoy huge offtakes, in the market.
The same reason, a male grooming cosmetics line is equally viable commercially... for the experienced and the beginner beauty business owner to leverage.
Depends on whom your market targets, at least 10- 15% of your market size (to run from the risk of sounding over-ambitious) would need a cosmetics product or a beauty related solution to look, smell, feel good, and to maintain a remarkable self image, consistently.
Here is a quick overview of what you will learn from this guide. You can skip to the part you prefer to begin from.
Starting your own Hair salon, makeup, spa service or a cosmetics retail business will task you, quite a lot... mentally, creatively and financially.
I wont apologize for my forthrightness on this.In fact, I will rather not sugar-coat anything for you here.
Please, disregard immediately, whatever they told you, about how easy it is to start your own business... Owning and running a successful beauty business comes with its own benefits and unique challenges. I sincerely hope you're ready for this?
The true reality of running your own beauty business, as you would soon find out, if, and when you eventually get started, outweighs the hype of being appended the 'CEO' title!
In your own case; A Beauty entrepreneur, a cosmetics line CEO/ manager, a salon manager,a beauty blogger, etc.
No matter your reasons for choosing a beauty business, you must find enough inspiration to forge ahead, regardless of the out-turn of events.
You must first know why you want to be a beauty business CEO...
It all begins here.
Please, disregard immediately, what they told you, about how much of an easy option it is, to start your own beauty business... Building a successful beauty business is hard!
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Why people venture into a beauty business
To better comprehend the reasons most beauty business enthusiasts venture into a beauty business.
I conducted a survey recently.
I discovered that, most beauty business owners who took part in the survey, got into the beauty industry for different reasons, among which are;
#1. Personal fulfillment reason,
#3. To make a living.
#4. While some other group, were only following what's trending.
Whatever your reason may be, make sure your reasons are genuine enough to drive you...
Or else, you'll eventually 'burn out' when you can't find a motivation, or a strong conviction to forge ahead.
(Remember this please, as you read on).
The plain reality of operating a successful beauty business, often are overwhelming when you lack the required discipline, character and real world business experience.
But wait...! What if someone already trained you with top-notched skills, and hands-on?
'skills and Ideas' Alone do not guarantee success
When I started, many years back...
I started out young- Enrolled as a hairstylist apprentice. With very long practice hours, on the salon shop floors and behind the sacred salon chairs.
And as you would have guessed, I didn't have all that clear-cut direction, on how my career in beauty business would pan out, [was 15 years old at the time I got my start].
Though, I knew I'd love to operate a unisex beauty business. That would cater for the urban men and ladies, who desires to look and feel good. While they could also afford the premium services on offer.
In an all in a one-stop, state-of-the-art beauty shop. [Which was a little unpopular at the time].
Those were the motives that fueled my passion... (recall, I mentioned earlier, how you must have a reason? )
So I worked very hard on my ambition. I totally committed myself to it!
I followed it through.... With visible personal skills development owed to commitment, passion and lots of quality practice hours.
I mastered: unisex hair haircuts, weaves installation, styling, facial structure, colour application, makeup, and you name the procedure...
Quick Note:With My interest in hair and makeup, It was an easy decision for me to specialize in Theatrical Makeup, from the Theatre Arts department of the University of Ibadan. Where I earned a Bachelor of Arts degree in 2007.
Over the years, my investments in the different beauty categories that i have explored, today are the sources of my experience for mentoring beginners in the beauty business space.
Providing solutions and a valuable support system, for brands who strive to gain more visibility and market share .
My experience has taught me that, if you truly want to build a lasting and profitable beauty business in the long term, you should endeavor to...
know abit ofmarketing
I had to learn this, in the hard way...
Hence, why i constantly preach that this is a must-adopted strategy for every new or existing business that wants to go for broke, from the outset.
Learning a little about creating strategic awareness and interest for your brand, helps to position your brand's offer to prospects and strangers who may have never heard about you before.
Your beauty business is equally not an exception.
What do I mean?
Without you equipping yourself with the knowledge in marketing and selling your beauty business, ( or if yours is a self-brand ) you will only end up 'shooting yourself big time!
(You honestly can't get far in the real world business space, without imbibing this into your consciousness). This is a fact!
#You must know why you are in a beauty business
#Whom your products or services target to serve.
You will ultimately have to figure #how to make them know you are in business.
And lastly #serve them by meeting their needs consistently.
Only then, before you begin to get the attention for your brand. This eventually, translates into revenue and more value for you.
However, you must master your core offer- i.e. YOUR CRAFT itself- ( i.e The Unique solution that they may not find easily elsewhere)
This is the only formula you can make use of, to build a lucrative beauty business. Or any other business in other industries, without you becoming frustrated.
Four Categories of people interested in a beauty business
In this category, beauty followers are untrained and may have no real-world experience in the beauty sector.
Although, you may partly have transferrable learning, in: customer service, fashion, social networking, selling etc. These come useful as you explore any of the beauty categories that interests you.
If you get fascinated or curious about how the beauty industry, or a particular category of beauty business works, it is safe to assume you are inexperienced. You are a beginner and should aim to know more.
Right? Great then...
So, for you to gain more experience in your category of choice, you must undergo a beauty business training.
If someone ever told you, that you could start your beauty business with no foundational training or mentoring, then I’ll be very straight with you...
Without a basic foundational beauty business training you will struggle a great deal; to compete, act confidently and stand out from the crowd. For a starter, you could access your training through an established beauty/cosmetics organization or virtually (online).
Is YOUTUBE a Reliablelearning option For a beginner?
There are lots of YouTube contents that you may find very useful as a beginner, depends on the niche you explore.
However, I don't advise a newbie reading this post to go all out into a beauty business, be it: How to start a cosmetics Retail business, Beauty salon business, Hair, makeup etc without having a mentor to lead you. This is very important!
Your training must be practical. Within the beauty business category you aim to specialise or kick-start your beauty business.
You need this for the real world business mastery. You won't grasp this experience from a FREE YouTube video content, only in a real world [practical] scenario.
If you get fascinated or curious about how a particular category of beauty business works, it is safe to assume you are inexperienced.
#2. The self- trained artist
Just like any other industry where hands-on and people skill are requisites for quality services delivery. This is equally the same, for a self-trained Makeup artist, beauty vlogger, braid artist etc who through their passion for beauty business have built a business for themselves through self learning.
But, is self-training the best approach for a beginner?
My answer is a No-No... If you are truly serious about operating a business rather than just a hobby or something to pass time.
This is because you'll need a mentor.
Find a mentor to understudy, even if it's going to be a crash course for a day, one- week or more. It will all depend on you. Knowing fully well you have covered the grey areas, that could get confusing or embarrassing.
A mentor already traveled this same path before you. Your ability to draw from the years of experience of your mentor, for one, amongst other benefits, it's a confidence booster for you, it saves you time; it ensures you make a sound judgement on any issues at hand and above everything else, helps you avoid the pitfalls your mentor already knew about, so you don't have to repeat same. These for me are priceless.
If for any reason, you must choose ‘’self-taught’’ as an option, ensure you have a mentor whom you can be accountable to.
Someone whom you could seek real time advice and guidance from; If or when you hit a brickwall.
In fact, every successful business owner, at one time, or the other, picks the experience or counsel of a more experienced coach who has attained more success already, in the same market or industry.
This approach is the most time saving and prudent, if you ask me.
You don't need to re-invent the wheel. When all you have to do, is to, tap the experience of a more experienced mentor.
#3.The trained cosmetologist
The trained beauty technician, Makeup artist, Beauty editor, Hairstylist, beauty business manager etc all have one thing in common.
They, from the onset, discover they have a passion for beauty be it as a hobby or a business.
They are deliberate in their choices, before putting everything on the line. Which propels them to gain more EXPERIENCE in the area that best suit their market(niche), in terms of the problems aimed to solve for others.
Here is a list of Specialties in high demands in the beauty marketplace:
Body artse.g. Tattoo and temporary face/body painting
Blogging and vlogging e.g. review, education, and beauty products influencing
#4.Beauty Business Investor
An investor can be a trained beauty technician or a manager or someone from a different business background entirely. Who partners with you to build a beauty brand.
The most common type sometimes involves the investor with little or no technical background of the beauty industry, or its related categories. Although, an established investor could already be successful in another industry before choosing to invest in a beauty category.
Meaning he has transferrable business experience in other sectors, that could be very useful in your new partnership arrangement.
An investor with no technical background in a beauty category, often needs to hire top professionals in: makeup, hairstyling, spa therapy, salon management, beauty advisory and sometimes beauty representatives and marketers. To help build a highly competitive beauty business.
Investors are prominent players within the cosmetics and salon business sectors. Either as a manufacturer, salon owner or a cosmetics distributor/ key retailer.
A beauty business Investor could also be pioneers/ producers of a beauty pageant show, runway exhibition and beauty fair events.
There are many opportunities, anyone interested in a beauty business may leverage. Ensure to find a need in the marketplace that hasn't been met, and champion this.
The cosmetics business space is one category that remains rewarding, this is by far, the most viable and lucrative. It is Evergreen!
Learn the basics of the category you are most interested in; From a mentor or a professional training institute. And from there you would gain more knowledge with real-life scenarios needed to build more confidence and expertise.
But you must first get trained, while you practice what you learn!
Your interest to learn more on how to begin a beauty business may not be thorough, especially if you do not know exactly your interest in a beauty business.
Take for an example, I have great admiration for folks in the medical profession. However, I cringe at the mere sight of blood. Meaning i have very limited tolerance when i see people go through any forms of pains... No matter how little.
But this has not lessened my admiration for the medical profession...
Moving on, here are some indicators that you may have the interest to nurture a beauty business;
Love for fashion - colors, Hairstyles, lipsticks, Fragrances and it could just be your love for a music star, anything could trigger an interest- identify it!
Service- this can be an interest in being of service oriented. I.e. having a likeness for helping others take care of themselves; a career or business in Spa, salon and makeup service niches may be something for you to consider.
Products knowledge (technically savvy)- this is a highly required skill in the retail and professional beauty business. Product advisory service is a technique adopts by top leading beauty brand both in the local and international markets. To deliver high valued customer service to customers/ enquirers, to create more patronage scenarios for their products.
If this describes your interest for a career or beauty business, then you may consider to first gain an experience in this category. By seeking to work in a makeup or a cosmetics retail store of the top established cosmetics brands like; Loreal, Sephora, Glams makeup Italy, Maybelin, MAC and others.
Interest in a beauty vocation–Most often your interest for beauty may develop from the creativity and works of a master beauty artist (a professional) whom you admire. Be it in a fashion publication, on a vlog channel on YouTube, or in the business space.
Your interest could be in Hairstyling, Makeup, Massage therapy, Beauty instructing, and beauty business.
Other interests you may want to consider also are: Beauty editorial/blogging, beauty/fashion photography, cosmetics production and beauty product review.
What are your motivations for desiring a beauty business?
Knowing what motivates you go a long way. Here it is, it’s okay if you cannot decide what your drive or interest is, right here and now! This next point makes it clearer.
What is your drive trigger?
A trigger is something like an inspiration. Something that propels an event to take place.
Let's look at these examples:
Sheer curiosity This is an aftermath of you encountering a phenomenal event. This could be a person, a Style, some beautiful places or a new trend, that your imagination finds fascinating. Any of these could be a trigger for you to want to find out more about this interest.
In the earliest days of my training hairdressing. At a time. i became curious about learning how to make DIDI (this is a colloquial description of a local hair weaving style- a flatter version of a cornrow).
Didi illustration| Beauty and salon marketing.
The approach to achieving the 'DIDI' technique differs slightly from the way a stylist makes a regular cornrow. In this sense... The stylist standing position during a DIDI- hair weaving procedure is at the front of the model, instead of behind the model which is the standard position to achieve a cornrow procedure.
First, the curiosity about how to achieve the DIDI hair technique became something I wanted to learn and get over.
Second, that inflated feeling of being more versatile was more than enough drive that made me enrolled with a local hairdresser from whom I learned the basic technique on the 'DIDI' procedure.
This is equally true of other types of interests that you may have, that could be the trigger, for you discovering yourself on a bigger plain.
Ponder over this for a moment... What drives you to pursue a beauty business?
Passion As Wikipedia defines it; ‘’Passion is a feeling of intense enthusiasm towards or a compelling desire for someone or something.’’
Passion can range from an eager interest in, or admiration for an idea, proposal, or cause; So it's not strange to know that, you have possibly found passion for beauty, which is compelling enough for you to want to establish a business around your passion, by meeting the needs of people. Here is the last one... A calling!
A Calling This is a profession you are most suited, through training or qualification so you can serve your audience (target market).
This means, for a course or passion to become a calling you will need to devote to learning and get trained for this vocation. Your commitment to this cause or passion overtime makes it a calling.
And that's it! Let's dive into the next lessons.
The Five beauty business categories
You should know by now, that, the Beauty market is a broad industry. And for your easy comprehension I have attempted to narrow them down into five major categories. Let’s dive right into it;
#1. Personal/self care Category
The personal care sub-market is where a cosmetics retailer holds a big sway.
The players in this category, delve more into cosmetics products, required daily to help foster good looks; beauty regimen, good body aura, youthful appearance and a healthy lifestyle for men and women.These includes:
Men grooming products e.g. shaving kits–shaving powders, razor sticks, aftershave, bump treatments, etc.
Deodorants- e.g. roll-on
Oral e.g. breath fresheners, tooth care products, mouthwashes, etc.
Anti-ageing products, etc.
The platform to reach and target your buyers include:
Beauty retail store/ outlets
Direct selling-( one-on-one sales)
Online shop [E-commerce e.g. Konga, JUMIA & Amazon]
Supermarket [Modern trade stores]
Pharmacies [Drug stores]
Salon and Spa [Services &Retail]
#2. Skincare Category
These are products and services that cater for the skincare needs of men and women.
To be a player or an authority in the skincare service market, you will need to get trained in esthetics. For an overview of what it requires to be an aesthetician, you can read it up here.
The aim of a skincare product retailer or service provider is to help people (women especially) find youthful skin appearance, rejuvenation of the skin from pigmentation disorder, amongst other skin challenges that the aestheticians in the skincare category aim to find remedy.
Here are (products-type) to consider for the skincare category;
To reach your target market in the Skincare market category, explore:
Spa services + product sales (Retail)
Direct selling- one-on-one sales
Online skincare product shop e.g.
Skincare product e-commerce set up
Products review and recommendation Blog site
Beauty consultation service
Supermarket Cosmetics sections
#3. Makeup category
This is unarguably a popular beauty industry sub-markets.
People communicate most of their expressions with their faces . Be it a happy or unhappy vibes. You may not need to express verbally your feelings before it’s visible in your countenance. It becomes clear and very essential for people to ensure they take proper care of themselves with regular facial regimen.
For a clearer understanding of the importance of this category; Here are some reasons women wear makeup;
To help boost confidence- you know that feeling you get when you know you are beautiful? That's the same feeling a properly worn makeup boost the confidence of a woman.
To cover imperfections - Imperfections are undesirable scars or facial indentations that are taken care of with the use of makeup products such as concealers, foundation e.t.c. These products are magical. They can almost save the day for a sufferer of embarrassing facial imperfections.
An artistic expression- There are moments a makeup artist tries to express a creative imprint on a client [or a muse]. They easily achieve this with makeup products and some application knowledge. If you have ever changed your look for Halloween or a vintage carnival, then you already are familiar with this.
Makeup is a beauty magnifier for detailing and accentuation purposes. Ever witnessed where a lady with a full round face got transformed into the highly coveted oval face type before? If you haven't, then you should check this beginner’s guide on highlighting and contouring makeup technique. It's a powerful technique to sculpt the facial structure to look the exact way you may desire.
Reach your target market in the Makeup and facial care category, using:
Direct selling- one-on-one sales
Online retail shop
Products review and recommendation Blog site.
Beauty consultation service
Beauty/cosmetics department store
Supermarket beauty/lifestyle category
Pharmacies (drug store)
Salon services + product sales [retail]
Make-up services + product sales [retail]
#4. Haircare Category
This is also one of the most patronized beauty categories by men, women & children.
The Haircare market is huge, your ability to meet the demand of this market consistently can help you lay a strong foundation in the hair business space. Impacting your revenue and your overall influence.
Hair care regimen may include DIYs (Do it yourself) on a daily or weekly hair maintenance practices, to help foster a healthy hair growth lifestyle of your subscribers or followers (online).
The Trained hair care professionals play a significant role by offering professional advice and services, creating and setting hairstyle trends; Contributing immensely to the popularity and constant growth of the hair market segment.
Hair care product manufacturers are key trend setters in the hair care space. With new collections of haircare products being released into the market constantly, It becomes hard for a hair care consumer not to patronize this sector.
This is hugely responsible for a robust industry, constantly in demand.
The ceaseless needs of men and women for: Innovations, hair care solutions, hair-style trends, hair care tools, multifunctional and result-oriented products amongst other needs, will keep being a major driver for the segment's growth and revenue expansion of this category.
These are the products in the hair category:
Organic hair care products
Receding hairlines and bald hair remedies
Hair care relaxer systems
Hair cream and lotions
Professional Hairstyling tools and accessories
Hair extensions (Human hair, hybrid and synthetic hair)
The business channels to reach your target market include:
Beauty retail stores
Hair care products/tools market
Hair salon + Hair products bar [Retail]
Online shop e.g.
Haircare blog site
Vlogging and hair care products review
#5. Foot, Hand and Nail care category
The foot, hand and nail care category is basically about personal grooming and pampering. The players in this category primarily focus on providing solutions for the manicure and pedicure need of men and women. The foot, hand and nail care provider caters for;
Hand and foot care massage
The products in this category include;
Foot and nail file
Nail polish products
Nail polish removers
Anti-ageing hand cream
Professional tools and accessories
The business channel to reach your target market in the Foot, Hand and Nail care category include
Nail salon/spa + product sales [retail]
Mobile nail care service
Online shop e.g.
Nail care niche blog.
Nail care bookings and advisory services.
Nail care product review and recommendations.
three ways to choose your own niche
By now, I believe you already know your strength and where your passion lies from the options, highlighted for you.
However, is it possible to have an interest in more than one beauty niches? The answer is an affirmative.
Although you should to choose one niche at the very beginning; this way you can focus your energy and resources on this one.
By the time you have built some level of trust and attention in this market, then it gets much easier to expand into another related niche(s).
A vivid example is, a makeup artist who has been working on her makeup brand for some time now, only to add a studio photography service to her portfolio or brand's offer- The chances of this selling is high, for obvious reasons!
So, as long as you closely knit your additional or secondary niche, with your first area of interest, it won’t be confusing to your market. And you could easily get the ball rolling from here.
#1. identify a problem to solve
Setting up a beauty business is about meeting needs and having a solution for your market. Being able to ask yourself of what problems you would love to solve for your market is the starting line.
Do you have a mission statement? What is your mission statement? And i don't intend to sound cliche...
In a layman speak, what do you have as a value, that you could make your customers enjoy, through your business offerings?
An example: I want to help women with natural kinky hair look beautiful and be proud of their natural hair texture.
This value proposition portrays you to devote your offers towards making ''the black hair textured women'' (your pre-targeted audience) avail the needed solution relating to their current hair maintenance challenge.
I believe you got the idea now?
Put a pen to paper and write 2 solutions you will want to solve with your new beauty business or career-in-view.
#2. Choose a perfect platform
This is the point where you design the "how" and "where" your target market will locate you.
Would you need to have a physical location? e.g: your home , a store or be accessible virtually i.e online via a website, e-commerce shop, via a telephone call or only at trade fairs and shows.
How easy it is, for your target demography to find you, is important.
Whatever choice is, please ensure that you have a phone contact that is accessible.
Like you must have found out before now, being able to have your own website is equally a 'golden egg' that can propel your business reach beyond your immediate locality.
This is an efficient platform to reach a wider range of your niche, than a physical store or an outlet location.
You should plan to leverage this.
#3.learn everything you can about your niche
So far, I have highlighted the importance of being purposeful about your business' choice, and your decision to build a beauty business.
But wait... How do you know your niche's standard practice?
So you know how to make things work? Without breaking your industry code of conduct, standard practice and guiding ethics?
This is the point where you have to meet and learn the GAME.
What this means literally is, that its time for research about the industry.
For you to guarantee your success from the onset, you will need to have some training on the niche you want to build your brand unique offer on.
Here are :
Three quick steps to find your niche as a beginner
Find a mentor – Look for a mentor who already has accomplished what you are trying to achieve in your niche or business. Find out through him/her what you will need to learn about the niche/industry. It shouldn’t matter much... but sometime you might have to pay to get this information. What should matter at the end is for you to be a master and get better informed about it.
Internship- This is kind of similar to finding a mentor, in the sense that, you'll find a learning center or an authority figure(a mentor) in your niche where you can intern. This will give you the confidence to go out in the cold, when the time comes for you to build your own beauty empire.
Distant learning (online) – You can learn directly in a distant learning program to also gain the required knowledge about your niche. Here at Beauty and Salon Marketing our core focus is to provide beauty business training, That helps to meet the needs of aspiring beauty entrepreneurs. This guide is one of such actionable content, that you will find available in the Academy.
JOIN THE ACADEMY
The Academy is the training, support and coaching center of the Beauty and Salon Marketing. And it is where beauty business owners, product managers, beauty consultants, course creators, influencers, makeup artists and more come together with a common mission:
To build, grow and scale a beauty business and make a global impact.
The first step towards having your own company from the onset is for you to come up with your business name i.e. a DBA otherwise known as – ‘Doing Business As’ ,you will need to create a unique name that your new business will be addressed by.
When setting up business in beauty as a newbie entrepreneur, my candid advice to you is this, set out with a firm business mindset. separating your business personality from your own person helps you to be organised better.
Creates a focused business culture, the right operating culture helps to fast-track the growth of a business with more certainty and predictability.
There are four ways to register a business, they are:
Although the approaches vary, based on each country's policy on how company legalization of a business works. For this startup beauty business guide I will use the Nigeria company registration system as the reference. For a more in-depth guide on your country's policy, use the official website of your country's company registration platform.
For this startup guide, I will use ''the sole proprietorship'' registration as the example here. it’s the easiest to register. However, if you would prefer to go with the LTD/LLC company registration, it has the benefits of separating the business liability from the owner's.
Meaning that in the in stance the company goes bankrupt, it’s the business that will be liable under the law for prosecution and not the owners personal assets that would a collateral.
Although it’s not strange to see the owners of a LTD/LLC Business still needs to answer to their business need in such scenario should it arise.
There is always a very clear separation of a LTD company’s liability or bankruptcy status from its owner’s assets, logically under the law. Kindly seek the help of a legal Tax advisor in registering your Limited liability Company for the huge paper works and the filing of the tax documentation involves.
How To Register Your Beauty Business Name in Two Steps
As a beginner the thought of filling to register your first company might seem daunting, but don't get overwhelmed just yet. It is very easy. Trust me!
The question i hear most beginners asked is, but I only want to start something small for now, from the corner of my home... Do i still need to register my company?
You can almost guess that my answer is YES!
You only get to register your business once, so, do it now! Once and for all... The benefits outweigh the adverse impact it may put you and your business as you will soon discover.
So, how should you go about registering your beauty business when starting from scratch?
Its easy... Here we go!
Decide on a name for your company- There is no fast rule to this, although in Nigeria for instance, tags such as; Chamber of Commerce, Federal , National , Regional , State, Government, Municipal E.t.c. have usage restriction by individuals. As it's assumed it will create a mischief or be misleading to the public.
But I do not want to think your beauty business would need such words...
Pick a name that best resonate with you and your business' overall personality.
Ensure your name is short and memorable.
Be creative by coining some nice letters or short words together. However, your choice of name should be something you will be proud to associate with, many years down the lane.
Meaning it shouldn't be a name you are only excited about at the moment, it should have longevity value.
For A Detailed Step By Step Business Name Registration in [Nigeria] Check HERE
The advantages of Registering Your Beauty Business As a Company
1.Brand/Trademark protection- it's advised that once you have a name, you would like to trade as, that you immediately secure this name by registering it with the corporate affairs agency, to avoid the name being taking or used by someone else. It's better you secure your intending business name now, even if your business is just starting out.
2.Business bank account- this is a huge benefit for registering your business. It enables you to have a bank account setup with your business name, which you can give to your customers for transaction. This help to increase your business trust-level and credibility to do business with you. It makes you look very reputable.
3.Access to loans and some suppliers benefits- as a Beauty business entrepreneur there are needs that'll come up that may require that you seek financial aid with your financial institution. Having all the required registration and operation license is a huge advantage that makes you to have access to such benefits.
This includes suppliers’ discount that you could avail with some manufacturers, who trust you more to do business with. Once you can present your document as a registered company this enables you get wholesalers deal amongst others.
4. Reputation with customers- customers would naturally be more at ease doing a business with your company especially when the business deal is high, that you register your business with the government.
5.Government tax - when you register business it also enable you to hire full time employees and pay them according to your countries minimum wages policy and also on behalf of your state’s government pay your staff’s tax through tax identification number on their behalf.
how to get your tax identification number [TIN]
This guide would apply to getting a TIN in Nigeria, kindly verify from your Country’s Internal Revenue Service (IRS) to know the requirement that applies.
In Nigeria they regard Tax identification number as TIN, in some countries it’s EIN [Employer Identification Number].
Your TIN is a unique number as the identifier of your business entities, in this case- your company.
They issue the TIN to business already registered as a business by FIRS (otherwise known as Federal Inland Revenue Service in Nigeria).
I should add the TIN is free, so there is nothing to worry over
Here are the steps to get your company TIN:
1. Complete your company’s business name registration with your state’s Corporate Affairs Commission
2. On receiving your business name registration certificate from your Pick- up CAC office( the filing and completion of the whole process from name search, to approval of name, the registration/ payment, and the final certificate pick up can be completed within a 3-5 business days)
3. Approach the nearest FIRS office in your locality requesting to have a TIN for your business.
Here are the required documents to process your TIN
1. An application letter for a TIN, written on your company’s letter head paper( you can quickly create one in MS word , all you will need is a bold caption of your company’s logo – address the letter to FIRS stating you are a newly registered business , you can state your business registration number and what business you are into.
if you state while registering with the Corporate Affairs Commission that your business is been operated longer than a 6month period from the registration date, FIRS may likely request you declare your revenue and expenditures for those period.
Hence they may likely require you to pay the tax already accrued. Other wise, the whole process is FREE with no fees, if your business is new.
2. Company stamp(you can approach an artist into plaque and branded items to quickly create your company stamp- the stamp has to bear your company name as it appears on your certificate. (They use The stamp to stamp your document, as an official consent.) 3. A copy of your utility bill
4. A copy of your business name certificate.
5. Ownership proof or a Receipt of your rent/lease of your proposed business facility- (note this could be your home occupancy evidence/house rent receipt, if you will run your business from home.
And these are all you will require to have a TIN in Nigeria. Usually the whole process is between a 48- 72hrs max and they will tender you your TIN certificate Free.
Once your TIN is available you can approach your preferred bank requesting a business account. The TIN is also a requisite to have a corporate bank account number.
Your business pays tax when your actual business operation takes off.
For more in-depth guides on Tax charges and filling please seek the service of a Tax expert in your locality.
For what's worth, this is the best time you should plan how to get your buyers' attention for your offers.
That notion that once you open the door of your business, customers will troop in to make huge demands for your products or services can be a mirage and unrealistic.
The next logical strategy is for you to talk to people (whom you target your business towards) about your business.
How do you go about this?
1. Create your online visibility e.g. a Facebook page for your business, LinkedIn, Instagram etc.
2. Have a website- This you can create yourself it is easy (yes you heard me right) and you need not know any web codes to do this. You can check here to begin.
3. Set a customer acquisition target- I like for you to be a little systematic here, as you will need to have an actual number of potential clients you will be engaging. Take for instance you can set a goal of reaching 20 leads (potential buyers, subscribers, customers etc.), before your official launch say in the next 30days.
The logical idea will be for you to plan to reach or talk with not less than 200 people (from your target market) who you have pre-qualified have a need for your products or services. And out of this 200 customer funnel we will aim to convert at least 10% which would give us our potential 20 leads that we shall use as our flagship customers.
However, the secret to the success of these offer approach, you should truly have a formula that you have used and that works, which you believe will be valuable to your target audience.
This also depends on the platform where your target market use in reaching you, the size of your business and the sophistication of your target customers.
If your business is in a commercial mass market, you may need to leverage marketing/promotional strategy (discount, BOGOF- Buy One & Get One Free strategy, word of mouth (referer), customer Loyalty program, Free product testing and sampling etc) to get the attention of your target customers.
The whole point is, without an offer relevant to the current need of your customer. It will be a bit of challenge to get your buyer's attention amidst other offers and competition activities in the marketplace.
Never pitch or prescribe an idea that you haven't tried yourself, to your customers. Otherwise the trust that you are trying to build for your business will be short-lived in no time.
There are countless strategies in crafting your offer; you just have to be very dependable and consistent with your offer. And only promise what you know you can deliver.
the customer life cycle: adapt it to win more customers
In marketing, there is a concept known as: customer life-cycle or journey. The customer journey is like a roadmap that guides a customer's emotion before he or she finally makes the purchase decision, either from you, or your competitor.
There are three stages a prospect travels (literally speaking) before choosing his or her best appealing option. Here are the three stages :
1.Awareness stage It is at this stage that the prospect just probably gets to hear about you or your business for the very first time, either through your fliers (offline), or via a paid ad on Facebook.
For you to attract a prospect to your OFFER, it means your business solves a problem. And your company's offer (solution) is an answer your market will pay you to have.
This is the prospect's first leg journey with your brand. See? The prospect hasn't handed you his or money yet... There is only a high chance you will make the sale, If your solution (OFFER) could solve your target market's problems.
2. Evaluation stage A buying decision sometimes is not as quick as you expect it will be. If you have ever had to sell something to a prospect in the past, you will agree with me on this, right?
This stage is where your prospect weighs all the options available. It's at this point he goes to shop more, read more reviews about your offer, ask around from friends if they have used or ever heard of your brand.
He/she is desirously looking for: The best solution, the best bargain, best quality, more features or quantity etc. it's at this point he is really scrutinizing your offer if it is truly the best fit of the other options in the marketplace.
At this stage, your prospect is taking no action yet to solve the problem. He is also looking at your other competitors to see if they have a better alternative, a more superior offer, at a lesser price or with more convenience.
3. Conversion stage This is the stage where you eventually make the sale! This is where you position your offer to be the only option your prospect would ever love and enjoy. And you know what, your ability to be persuasive and convincing will be helpful at this stage for you to sell out, and win above your competition.
Your prospect has moved through the evaluation stage and has conceded and viola! He makes a purchase and you got the sale!
With your Mailing list system incorporated into your business, your chances of moving your potential leads into becoming customers, who then become loyal to your brand are more predictable.
A mailing list is your database (record) of potential leads and already purchasing customers captured into a mailing system in order for you to further engage them for a more long-term relationship.
Your mailing list is still the coolest way to grow your business and reach your target market with more solutions and offers that make them ever glued to your business. A mailing list is very powerful.
Your mailing list item may comprise: A. Customer first and the last name B. Email address C. Sex (this is to determine the gender segmentation of your market D. Phone number E. Location
Why Mailing List Is Crucial to Your Business
Initially, when you launch your business, for some reasons people try trying or visiting a new place, hoping to get a new offer or just to experience something new altogether.In the same vein, I will expect that your new business presenting a very captivating offer will also have the same effect on your target market.
As so in that momentary excitement and anticipation of your market to meet your business for the first time, ensure you use this opportunity to get as much customer information into your database.
With those details in your database,( which I expect you to have gotten with their concent though), let me help you discover how you can use the email list to grow your business exponentially. while you are holding your customers and prospects closely with your brand.
As you will soon discover, your mailing list is a must have if you are serious about growing your business online or offline. Its capacity to help you keep track of your leads and customers in a more systematic structure, that makes automation and follow-up easy to implement is a major advantage.
And you may wonder why cant you just use the same Yahoo or Gmail service for your email list purpose? The answer is simple.
With a dedicated Email service provider such as Aweber or Sendinblue its lot convenient to build your email list and create target email campaigns faster. Which you can deploy for your marketing purpose targeting your customers once you have put them on your list.
An email service provider platform will enable you to create autoresponder sequence which you can use to communicate and engage your prospects at the different stages of their customer journey inside your sales funnel.
For example, with an automated email sequence , you can quickly create different scenarios with your offers, using email blast or single campaign (e.g a Newsletter or sales /discount offer email) to communicate with your customers , leads or prospects on your list till they become loyal fans.
You could also create automated email sequence to target only a segment (a group) of your mailing list.
For instance, you could target females who signified they prefer RED LIPSTICKS, an example tag of this category can be – RED LIPSTICK FEMALES LEADS.
With this example, you will only write your email blast to pitch a sale/ offer to this target females only. With more follow up email sequences conveying the benefits of this offer and why they cant afford to miss out on the offer, you can guess the effectiveness of the email marketing tool to aid sales or engaging prospects into becoming a buying customer, even when you are not physically interacting with them. Its powerful!
Everyone on your mailing list will not receive your offer, but specifically to those who have signified to be on your pre-defined RED LIPSTICK email list.
However, with the regular email service like Gmail and yahoo, it limits you on the number of emails you could send in a day.
When you are sending emails with Gmail, you can’t send more than100–150 emails per day. However, when you are sending emails with an Email marketing service, you can send as much as your plan afford you.
Moreso deep and complex email marketing a core necessary for your business growth is not convenient to implement using Gmail or other regular email service other than the Email marketing provider option.
I believe you understand this difference better now?
How to use email list strategy as an effective marketing
MAKE AN OFFER USING A LEAD MAGNET AND A LANDING PAGE
From the examples already used in this guide, I want to believe you know what an offer is already. However, you will need to design a LEAD MAGNET – (Typically used online to capture your leads for the purpose of getting them on your mailing list.
Dont get bogged down with terminologies, its simple to deploy once you get a hang of what it is and the purpose you should make it serve you.
To leverage your mailing list capacity, you will need to first be able to make a juicy offer that you will deliver. You don’t want to over-promise and under deliver either-this is not good for your business loyalty and reputation.
With your potential customers already captured into your sales funnel (AKA Mailing list), you will then be able to move potential leads into becoming buying customers. Using follow-ups strategies both online and offline e.g calls, SMS, automated emails, discount offer blasts, your opportunity is endless.
Even if your prospects do not buy the very first time.With prospects on your Mailing List, you can quickly build an engagement or a relationship with them, which is the easiest way to sell or draw the attention of a suspect (prospect) into becoming a raving fan of your products and services.
I will rather prefer to patronize someone I already have a connection with than trying a total stranger. In like vein, it's a lot easier to sell to an engaged email list than a new one.
Your mailing list is important to your success as a beauty startup. It helps to facilitate a deepened bond and engagement interface with your prospects and customers. Keep this to mind!
For an offline campaign or offer, a beautifully designed flyer with a huge call to ACTION will also work and serve the same purpose.
However, the challenge with the offline campaign is that you can't systemize your contact list and segment them based on their respective interest. Without segmentation of interests, it may be a challenge for you to better provide a targeted and specific solution for your customers.
For this post, I advice that we stick to the online platform of setting up your email list system.
It’s much easier to manage efficiently. You could get your customers or prospects data (name and email) manually and add to your Email marketing list. and automate your email marketing more conveniently
For you to send targeted bulk email broadcast to your customers all in one place you will need to use an Email Service Provider (ESP), as mentioned earlier.
Having a Mailing list can aid your business growth TREMENDOUSLY. You can switch up an offer and make a broadcast of this to your leads and customers list anytime. Which could mean more sales or positive feedback for your business.
Always treat your email list with respect, your list is not just a thing, your mailing list is human customers, Treat your list with utmost respect. DO NOT SPAM your list with irrelevant content or offer, this is the fastest way to lose your respect and trust.
Add value by building a bond with your list. Care enough to only send them helpful solutions or offer based on the interest they show before adding them on your list.
how to get your first twenty customers
Create an Offer - This could be anything actually, however this will be something that your customers consider a pain-point or a biting problem that they need the burden lifted. Using your solution. Do you get the idea now?
Here are two Example Offer:
(Please click on each TAB below to show content)
BRIDAL CONTEST OFFER
FREE COURSE OFFER
Win up to 500$ worth of Bridal Package [service] on your wedding day!
* Brides to be * Groom * ______________________________
1. Enter the contest by sharing the contest post to your followers on Facebook or Instagram
2. Request your followers to like your business page and also share
3. The participant with the highest likes and re-posts win the grand price of the contest and only valid for use at December only.
JOIN MY FREE COURSE
How to Start a Mini Retail Makeup Business from Home, Using My Secret Sales strategy that Generates up toxxx $Monthly- LEARN MORE
How to Make xxx $ Monthly By Starting Your Own Mini Makeup Retail Business, Without You Needing Any Bank Loan - LEARN MORE
- SIDE NOTE-
This strategy can also work well for an offline offer or business. For a Business that do more of physical transactions with its customers.
Partnering with a radio or a Television talk-show program that has content that relates with men and women, lifestyle, personal well-being, fashion, city life etc. could quickly help to grow your brand.
By approaching the show presenters or the marketing team with a proposal of interest to give freebies to the calling-listeners. If they are your target market, will in no little measure help to scale your business.
Here is a simple strategy on going about it:
Pick a Tv or radio program that talks about beauty, or entrepreneurship for women, and that is a good fit of your target market. Make a proposal to offer XXX quantity of your products souvenirs, free advice or consultation sessions.(You could also show interest to as a guest speaker or consultant on the show, if its an interactive show where you know, you have competence on the topic or issues the show address.
Attend trade shows, community social event e.g. tea party, seminars, Beauty fair that have your target market in attendance. This is also a good place to get the word out about your business offers.
All these can quickly help you generate good traffic/ qualified lead for your business that you can further engage or sell to.
Now it’s your turn!
What THREE offers or solutions do you think may interest your target buyers or market?
(This could be a paid or a FREE offer) Please Write your Answers on your sheet of paper.
rewards for your efforts
If you have a goal for your business; You must have some doggedness that ensures that you follow through.
Find and serve the right market- a hungry market, that craves the solution you have.
What beauty solution does your target audience desperately need?
Do you directly know where , or how to source for the solution? To enable you to serve them? While they beg you to take their money?
I hope you get my drift already?
So Yes! Your beauty business can be VERY rewarding, if you sell or provide the services that your target market are looking for, Something they want to SOLVE... I mean badly!
Or something that...
Boost their self image and make them feel good
Here is a little lesson to glean from a certain small cosmetics retail store owner, whom I supply makeup products , she and I later got close, and we became friends.
Let's call her 'Aunty B"...
Aunty B's target market is mostly women with skin blemishes issues. She focuses solely on beauty products solutions that can help her target clients (market) clear their skin imperfections.
Can you take a guess at what she literally named her business?... She calls it- BLEMISH CARE COSMETICS.
As much as I'm not an advocate for folks bleaching their skin, and all that...
Here is a lesson to learn as a beauty business owner or enthusiast...
Serve a Hungry Beauty Niche
Your business is not about you... Pay attention to what solution people are seeking answers for ... Then just provide it.
I know, it's not as simple. (The reason you must question your intention to start your business, in the first place.)
Exactly what solution, have you, to deliver to your target market???
To be honest, I understand your business naturally should reflect you, your passion and your beliefs... but in reality...
Your business' essence is to meet a need of real people... This is your market! And the reason you will have a business on the long run...
No market, No business for you! It's that simple.
This secret is priceless, never forget to use it!
Find Out what they want...
There are insatiable needs in the modern society that warrants a man or a woman to require help with getting rid of a skin pigmentation or a certain unglorifying beauty problems...
If you don't already have an experience on how to solve a particular problem or don't have the remedy, yet... Do your research.
Or you can partner with someone (a manufacturer, a cosmetologist, a marketer) who already has a remedy! This way, you can solve the damn problem and get your reward while at it.
I am going somewhere with this... Get ready.
And as you would have guessed, I didn't have all that clear-cut direction, on how my career in beauty business would pan out, [was 15 years old at the time I got my start]...
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maintain your focus!
Still interested in starting up your beauty business? If you are... then I will need you to remain focused.
Remember your initial drive? Keep a tab on your initial reason(s) to want to build your own beauty business.This is not a time to get distracted, it is at this point you will want to do away with your distractions and keep your focus on building.
Truth is, becoming a successful beauty entrepreneur is hard work. But the joy you derive is in you meeting the needs of the people you have identified to serve and helping them solve their problems with your unique solutions.
This makes the sacrifice you will make worth the time and hard work it requires you to invest in it.
There you have it... How to start your beauty business.
This is actually a long deep post.
I hope I could give you a little head start on where to get things started. The journey of a thousand miles, so they say, it begins with a single step.
Leave a comment below. Would love to know how you are finding getting started.
'Wale Michael is a Theatre Arts graduate, majored in film & theatrical makeup. He started his grind in hair and beauty business in 1999 as a trainee hairstylist.
His foray into sales and marketing roles with top international cosmetics brands, coupled with his online marketing epiphany, makes him a dynamic marketer, all weather!
When he isn't actively busy, strategizing on the marketing drive for the next product, to launch, he likes to travel... To new places.