A beauty-supply store is the perfect business venture for persons with a passion for hair, makeup and other beauty products. Like most businesses, a beauty-supply shop requires time and money. Before launching the business, do your research and make sure you have all the necessary components.
Items you will need
Take business courses. You don’t need a college degree to open a beauty-supply store, but you need some business knowledge. Study business financial management, inventory control, budgeting and entrepreneurship.
Work in a beauty-supply store. Before starting your own beauty shop, find employment with a local beauty-supply store or other retail store. Learn the ins and outs of working in a retail setting, understand customer service and learn about your competition.
Find a location for the business. Situate beauty-supply stores in a busy area. Choose a location that receives a lot of foot traffic--perhaps a strip mall.
Write a business plan and obtain a license. Since you’ll likely need to apply for a small-business loan, create a business plan. Write the plan yourself or hire a professional. Visit your local city hall and apply for a business license.
Get a small-business loan. Every business requires start-up capital. If you don’t have cash on hand, apply for a loan. Check your credit score beforehand and make improvements to it if necessary.
Choose a supplier. You’ll need to stock the beauty-supply store with hair products, makeup and accessories. Research different beauty suppliers and pick the one that offers the products you want to carry at reasonable wholesale prices.
The cheapest wholesaler is not always the best. Customer service, reliability and good credit terms are more important.