Cosmetics or skin care business is lucrative, so if you are intending to go into it, you are in the right direction. Starting any business is not easy and cosmetics is no exception. I have done the business so you will be receiving first hand and practical information about starting and running a profitable cosmetics business. This is not like other articles you may have read about cosmetics business, this is about what I have done and know. It is not what I read about the business from someone. Therefore, I will be discussing the following in this piece.
- The capital requirement for cosmetics business
- The best Shop location for cosmetics business
- Knowledge of the cosmetics business
- Great Customer Relationship
The Capital Requirement for cosmetic business:
The capital to do the business is very important. The particular amount to start is dependent on how and where you want to start the skin care business. However, it advisable you start small and grow the business or you inject in more money as the business stabilizes. If you have the sum of five hundred thousand naira (N500, 000) you can start up a profitable cosmetics business in Nigeria. This amount is dependent on the location of your business. If you are located, in the city it could be more and if you are in the rural areas, it could be less. Make sure you understand the business very well if you are starting with little capital. It will save you from losing your money, but when you do not know the business very well and you do not have enough capital you surely rushing towards disaster. The truth is that the competition is increasing daily and you will need money to compete.
Shop Location for cosmetic business:
The second most important factor in the success or failure of your cosmetics business is the location. Even when you have the money, if customers do not see your shop to buy from, you will not sell. That is pretty simple and straight. In locating your shop whether you are in the rural area or in the city, you can be either inside the market or outside. The two have their advantages and disadvantages so you make the decision based on your choice and circumstances. The main thing is to locate your cosmetics shop where there are foot traffic whether inside the market or out of the market. This will determine the people who see your cosmetics shop to patronize you. Please if want to go into this business do not joke with this factor. Do not mind people who tell you that once you have what they are looking for they will come. It is a lie.
Note: This does not mean that you will go to rent very expensive shop that you will not be able to pay as a beginner. Just take your time in searching for shop and locate you shop where people can easily see your shop.
After a good location next is the look of your cosmetics shop. You may be surprised while that matters, you will be dealing with women mostly so make it very neat so that they will be comfortable. Make it very welcoming you will thank me when you start your cosmetics business.
The Knowledge of the business:
Having a good understanding of cosmetics business is very important; it is advisable to spend some time learning the trade. Get yourself acquitted with the basics of skin care businesses. Where to buy and what to buy is very important. Also learn cosmetics or skin care business from someone who understands it or who has being in the business for a long time. Knowing the prices of the products is not enough you need to understand it. Every business has its own rules and you can grab them when you seek them. If you can read about skin care products and their contents, if you understand this it will greatly help you recommend skin care products to your customers.
Customer Care Relationship:
The way you relate with your customers will determine your success or failure in a great measure. The first thing I must recommend is that you should be very honest with your customers. Do not buy into the false theory that you do not speak the truth in business. In addition, as I have mentioned your major customers will be women, so you must learn to be courteous and the tact in handling such delicate and special people. This does not mean only females will be patronizing you, but majority of your customers will be them. Many customers will need you to recommend a product for them, make sure you know what you are doing here because if it goes wrong then, you have a higher chance of losing the customer. Value your customers very much and truly care for their needs they will keep smiling at you with their cash.
I will glad to hear your success story. You can contact us through the email below if need be.