Let’s talk about the beauty supply space and why you shouldn’t sleep on it. Men, Women, children. Everyday people. Listen up. This is for you.
The beauty and cosmetics industry is enormous, and there us a way that everyday people like you and me, can create a path to generational wealth in this $863 billion dollar industry (Zion Market Research, 2024 projections) making it one of the most viable and lucrative marketplaces to enter into, right now.
When the pandemic hit, many went to online shopping places like Amazon, leaving a wide gap for those not able to afford Amazon Prime or who don’t like the range of selection for ethnicities.
If you choose to narrow your product selection to popular names and products, rather than everything the brick and mortar try to sell, you avoid being in direct competition with AliExpress, Amazon, and the like.
While brick-and-mortar beauty supply stores are certainly viable, the pandemic has taught us that scalability means removing overhead and the need to shut down if things were to happen like this again.
ONLINE Beauty Supply Store Concept
There are more than 40,000 Beauty Supply store businesses in the United States as of 2021. According to the Black Owned Beauty Supply Organization, it estimates that only about 9,000 of those are Black-owned. That’s a no from me. Why is there such a large gap when we make up the biggest buying bloc of beauty supply products?
Easy. A lack of knowledge, resources, and education. An online beauty supply store is nothing more than a brick-and-mortar beauty supply store able to service more people than in a particular mile radius. Beauty is big business, literally. Products range from nail care, to skincare and just a little in between. Pretty straightforward so far right?
To open a brick-and-mortar beauty supply store would cost you anywhere from $2,000-$10,000, depending on inventory limits, equipment, space, and location. The good news is, that we’re specifically focusing on an online beauty supply store. As an added bonus, I’m going to show you how I did it for $35.00 a month, starting with a $0 investment.
Overall, the beauty supply industry has estimated sales that exceeded $450 billion in 2020 and are expected to reach over $700 billion over the next decade, increasing at a rate of about 4%, per year.
Can you imagine having a slice of that pie? It’s completely doable, and you don’t have to have thousands or even hundreds to get started, and you can build a tangible legacy for your family.
Legacy Building Strategy
I cannot stress enough the importance of knowing the size of your beauty supply store, in determining the amount of money it will make. Size does matter here, friend. So does your product line. It can take you months or years worth of research to find the best-selling products, the highest ranking categories, etc.
Don’t worry, I’ve done all the hard work and research for you. With this business model, you can sell online in all 50 states for 90% of your sales, and if you have a station, brick, and mortar, or office, then sell the other 10% offline. Sell 100% offline, or sell 100% online. The possibilities are endless, but most importantly, they are attainable and your choice to make.
The legacy comes in when you can offer this same opportunity to others, and earn a small commission every time someone shops on their site. That’s right! You can brand your site, and leave it and all of your active Legacy Builder Buddies who have joined you in the journey.
Here’s a quick start-up list to get you started.
Start up Checklist to Online Beauty Supply Store Profits
Step 1: Sign Up For Your FREE Beauty Supply Store
Step 2: Explore the products available and your commission on each one.
Step 3: Upgrade to the Premium account for $35.00 a month in the back office (Renee’ is happy to help anyone, free of charge)
Step 4: Explore your new commission prices and shipping options.
Step 5: Brand your Store
Step 6: Create your SM accounts and invite your current friends, family, and followers
Step 6: Promote and market On Social Media using your referral link
Step 7: Grow Your Legacy by offering a “Franchise” opportunity and earn whenever someone shops on your legacy builder buddy’s page!
Reach out to L. Renee’ at CoachLReneeChubb@gmail.com or book a courtesy discovery call here, if you have questions!