Starting a business can feel daunting. However, if you have a passion, the reward of owning your own business will be worth the work and planning that went into it. Here is a step-by-step guide to starting a lash business:
Step 1: Create a Vision Board
Entrepreneurs are often dreamers, who have a vision in their mind of what they want but can’t see the path to get there. A vision board is a visual tool to help you narrow down what you want and don’t want. Using printed images, magazines, or even drawings, create a collage of images that you feel represent what you want your business to look like. It may also be what you want success to look like because it is different for different people. Think about why you want to start a lash business. What kind of salon do you envision running or working in? A vision board is useful in providing you the ongoing motivation you will need to keep working when things get complicated, as well as the ability to narrow down what you want.
Step 2: Create a Business Plan
Once you have a clear vision, you need to create a plan and write it down. Your business plan should include your business goals, timeline, potential challenges, resources, suppliers, investors, and more. You will need to consider even the smallest details, such as the types of lashes you will offer, what you need to learn to accomplish that, and what you will need to charge. For example, if you plan to provide new magnetic lashes, you will need to learn everything about applying magnetic lashes, what they will cost, and how you can encourage repeat business. You need to think of the business plan as the blueprint for your business. An architect would never start building a house without a blueprint, and you should never begin to build a business without a clear plan.
Step 3: Research Killer Business Plans
Doing the research will happen simultaneously with creating the business plan. You will need to research every aspect of your future business, including market research for the community you want to open, research on vendors and suppliers, advertising costs, location costs, and any applicable regulations. You may also want to research salons in your area that you may partner with to open a lash business within an existing business.
Step 4: Pursue the Possibilities
Once the research is complete and the business plan is created, you need to start working. If you need an investor to start your business, you can use your business plan to present to potential investors. You can start approaching salons owners to look for a business you can collaborate with moving forward. You will also need to start working on branding, which will include your business name, logo, and verbiage, such as a slogan or tagline.
Step 5: Embrace Creative Marketing
Traditional advertising can be costly, which may not be feasible for a small business just getting started. Research ideas for creative marketing that will allow you to get your name out when you are ready. Talk to your local Chamber of Commerce to see what kind of business events they have coming up that you may be able to participate in. Network with other business owners that may compliment your business. For example, brides always want to look stunning on their big day, so networking with wedding businesses can help you get your name in front of women planning their wedding.
Step 6: Stick to the Plan
When starting a business, it is easy to get distracted by small details that came as a surprise. However, it is vital not to let yourself be thrown off track. Your business plan was well thought out, researched, and planned. Don’t let random suggestions or ideas derail your forward movement; stick to the plan you created.