Nothing can be more satisfying than owning your own cosmetic business. Starting a handmade cosmetic business from home is a great way to start making cool cash. Homemade cosmetics have grown in popularity with an exponential increase in consumer demand for these products. If you pride yourself on making top-of-the-class makeup products, now is the time to hone in on this skill and break into the thriving market.
One of the unique benefits of starting this business is that you don't have to worry about where your target audience resides. No matter their location, selling your products is easy, thanks to the internet. All you need do is to promote your business online, right from your comfort zone.
Tips to Starting Your Business
The cosmetic industry is growing every single year. If the idea of starting a handmade makeup business sounds alluring to you, maybe it is time you invest in yourself and learn how to become a successful cosmetic business owner.
Making money from something you have an actual passion for can be satisfying and financially rewarding. You also feel fulfilled knowing that you make people look their best and feel confident. However, starting a successful handmade cosmetic business requires a lot of planning, research, and commitment.
Check out the tips below
1. Understand the Business
Whatever field you'd like to invest in, you're advised to perform due diligence. In other words, learn the nitty-gritty of the business. Fortunately, there are many ways to do that. You can learn virtually anything online. Do online research about the business, including the trends, target audience, profit potential, distribution channel, reliable suppliers, and many more. Study big brands online to know how they operate as well.
The next stop is the cosmetic business in your locality. Visit their stores to know more about their marketing skills and product selection. If you have time up your sleeves, apply for a job in one of the local stores. This way, you will get first-hand information about how the business operates, including its suppliers, sales projection, sales tactics, and customer service. Learn everything that you possibly can.
2. Create a Business Plan
Why do many businesses fail after a few years in business? It is not due to low demand – there has been an increase in the demand for cosmetic products in recent years -but because they do not have the right plan. Or perhaps they failed to plan.
Regardless of the size of your cosmetic business, creating a business plan is important. It serves as your guide as you journey through the cosmetic business world. In addition, a good business plan guarantees access to funds from investors or financial institutions if you are considering expanding your business.
3. Decide Your Area of Focus
Being a jack of all trades will lead you nowhere.Decide what type of cosmetics you will offer to the target market. This way, you can channel your resources rightly. If you know how to make various kinds of cosmetic products, it will be advisable to offer products with a higher potential for a start. You can add other cosmetic products overtime.
What are the best selling products on the market? Popular products include eyeshadow, foundation, concealer, mineral cosmetics, skincare products, and many more.
But how do you decide what products or services to offer? That depends on what you are passionate about. Figure it out!
3. Test Your Products
Even if you are confident of your production process, do not send these makeup products to the market without testing. Get the formula used in the production process handy. Order for ingredients as well as packaging materials. Prepare your test products and send them out to your loved ones with various skin types and tones, if possible. Get their thoughts on the efficacy of the products and how much they would be willing to pay. You can use their feedback to improve on the products if need be.
4. Latest Trends
One of the fastest ways to break into the makeup cosmetic market is to start with the hottest products on the market. To do this, you need to research the latest trends on the market to understand what the customer truly wants. Creating a product that meets the unique needs of customers can help you break into the market easily.
5. Find Suppliers
Since you will be operating on the manufacturing model, you need to have a list of reliable suppliers for equipment and raw materials for your new business. Since you are running the business from home, you'll get everything delivered to your chosen location. Research what you need ahead of time. Shop around and choose a supplier that meets your unique needs and budget.
6. Marketing Your Cosmetic & Skin Care Products
Without customers, you will run out of business sooner than you think. Marketing and promoting your handmade cosmetic products is critical to the success of your business. This will attract new customers and increase the customer base's loyalty if you already have one. You can use the traditional and digital ways of advertising. Both are effective.
Offline methods include
- Trade fairs
- Distributing flyers and handbills
- Display advertising
- Organize skincare parties
Digital method include
- Building a website or blog
- Online display adverts
- Search engine optimization
- Online display adverts
- Social media marketing
7. Equipment Required
There are tools essential to making your handmade cosmetic products. While some are readily available in your kitchen, you'll have to invest in some supplies to boost the production process further.Here is a list of the tools you will need to get started
- Scale – for precise recipe measurement
- Funnel – to prevent spillage when transferring to containers
- Designated mixing spoons
- Prep bowls (glass)
- Electric stick blender
- Hand whisk
- Measuring cups and spoons
- Hot plate or stovetop
- Double boiler, and many more
8. Packaging Type
Choosing the right packaging material further makes your handmade cosmetics product more attractive. It is, however, important to note that some ingredients will react badly to specific types of materials.
Fortunately, there are lots of companies that can help you decide on the right packaging material and container for you. They sell affordable makeup powder containers in bulk. Examples include powder spray bottles, loose powder containers, eye shadow containers, and makeup sticks and tins. Equally impressive is that they can also design these containers to meet your specific needs and designs. With various designs, styles, sizes, and colors to choose from, you will be spoilt for choice. Keep in mind that you will save more when you buy these packaging materials in large quantities.
Here are some online resources for you to get your supplies.
Photo by Luke Southern