How to Start a Beauty Brand That Lasts: 7 Questions for Success

Beauty products are carried in just about every type of store imaginable. You see beauty advertisements for new brands on social media, in commercials, or along the highway. With the rise of home-based businesses, many people are realizing they can have a piece of the action, leading to the development of new beauty brands.

Starting your own beauty brand may seem daunting, but you can do it! There are so many options and needs out there that anyone can find their niche and become successful. How do you get started? We’ll go over seven crucial questions to answer so you’ll know how to start your beauty brand today.

1. What Is Your Niche? 

Walk into any Ulta or Sephora, and you’ll see shelves of endless beauty products. This doesn’t mean your product can’t get popular! However, in a saturated market, you need to find a way to stand out. There are a few different ways to do this:

• Develop unique packaging, an eye-catching logo, or a brand name.
• Offer a product with unique ingredients nobody else is using.
• Craft an authentic story and message for customers.

How can you get inspiration or discover how your product will fit into the market? It’s time for research! Start by looking at the market and finding gaps where there is a need for something new. Go to a beauty supply store and see which products catch your eye and why. Take the best ideas and incorporate them into your company to develop your niche.

You need a product that will fill a need nobody else has filled yet. That’s how you ensure your product will be in demand with a specific target market.

2. What Products Do You Want to Work With? 

It's often difficult for new beauty brands to decide which products to sell and how much variety to offer in the catalog. Make sure whatever new products you’re bringing to the table are high quality; you’ll never gain traction if you’re peddling an inferior product, no matter what niche you’re filling. 

We recommend starting small. Choose a few products you want to sell and wait until you have a solid client base with growing sales before adding more products.

A great way to test whether your product stands out or works with multiple body types is to create tester samples and distribute or sell them at local fairs. See what people say and make improvements based on their feedback.

3. What Type of Business Model Will You Have?

Every successful business needs a business model to guide revenue and growth. To create yours:

• Start by writing down your vision for the company and where you see it progressing in ten years.
• Write down your company's mission and what makes it unique and valuable to customers.
• Identify your competitors and decide how you can compete with them (better online presence, competitive pricing, etc.).
• Find a manufacturer and get a quote.
• Set the costs of your products, making sure they are affordable for customers while providing a reasonable profit margin.
• Find out how much you need to invest upfront and make a budget.
• Register your business with the proper local and state authorities.

Once you have a plan written out, you can move forward with other big decisions.

4. How Will You Market Your Beauty Brand? 

Any business model needs a competitive and effective marketing strategy to get the ball rolling. You need to let people know about your brand and get the word out quickly to gain popularity and brand attention. 

There are many different strategies, but some of the most effective are:

• Use a brand social media account to share information and gain followers. Use multiple platforms to reach as many people as possible.
• Decide where you want your products sold and reach out to vendors.
• Try a billboard or radio commercial.
• Enlist your friends and family to advocate for your brand and bring in more customers.

Reinvesting into marketing efforts as your brand grows is vital.

5. Who Is in Your Network, and Who Can Teach You? 

There are many success stories out there, so don't discount the value of others’ experiences. Listening to other people who have succeeded in the industry and getting their advice will definitely give you good ideas for your startup.

To find mentors in your arena, reach out to local beauty brands and attend events to find people qualified to advise you. Bring business cards with your contact information and share them whenever possible. 

6. How Much Does It Cost to Start a Beauty Brand? 

The costs of starting your own beauty brand vary. Costs will be impacted by:

• How expensive your products are to make
• If you hire manufacturing companies or do it yourself
• How quickly you want to launch your brand
• Where your products will sell
• Shipping costs

There are ways to keep costs down, especially if you start with modest goals in mind. 

Before spending money, take time and determine your budget and what will work best for you.

7. How do You Finance a New Business?

Once you have a business plan and an idea of the costs you’ll need to start, the final step is determining how you will finance your brand. Most businesses choose from these four methods:

1. Self-Funding: You pay for all expenses out of your own pocket.
2. Crowdfunding: People contribute to your business in exchange for free products or discounts.
3. A Small Business Loan: A bank can lend you the money you need to start, but you will need a clear business plan and probably collateral.
4. Investors: These could be friends and family or corporation owners, but they give you the money you need in exchange for a share in the company.

Get Started With the LashLift Store

The LashLift Store is a valuable resource as you begin your beauty brand. We can get you the supplies you need for your products and services. At the same time, we are proud to sell many products from many small brands—and could add yours to our virtual shelves. Contact us today for more salon products and information, and see if your products fit our website.