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If you've already started a hair business or you're thinking about starting a hair business (store or company), this is need-to-know information to help you save time, money and a lot of headaches.
The Most Important Tips For Starting Your Hair Business
We're going to start with the top 10 and work our way to top 1 being the most important thing you should know before starting a hair store or company, covering product supply, brand identity, sale model, hair vendor choosing and more.
Tip 10 - You Need To Know You Will Not Make Money Right Away
So many people are starting hair companies but have no prior knowledge about hair. We need you to really understand that you are not going to make money right away unless you have like a huge follower that supports you, maybe you'll get sales right away but nine times out of ten that's not going to happen. You will not get sales right away and if you do get sales right away you're still not making money because you need to put that money back into the company. The only way your company will grow is if you reinvest into the company.
Tip 9 - Figure Out Who You're Selling To
Figure out who is your customer and that will determine your prices. It's a lot of different factors that will determine your hair prices mainly being your customers but also how much you're paying for your inventory and your market value. You should know who you're selling to because if you are selling to the more established grown women who have a little more money in a pocket, your prices may be a little higher but your quality must also match that price; but if you're selling to like high school girls or young girls, they may not have the money to blow five hundred dollars on hair, they may be more in the 200-300$ range because their parents are more than likely paying for this hair. So you have to know your customer and that will dip at your prices.
Tip 8 - Wholesale or Drop Ship, Set Up Your Business Model
If you're starting out a hair company, you need to know if you're going to do wholesale or dropship. The wholesale human hair is when you buy a bunch of inventory from your hair vendor, you may get a discount rate because you're buying so much of it, and then you have inventory on hand. If you are dropshipping as once you get an order, you order it with your vendor and they ship it to your customer, so you don't have to have any inventory on hand at all. However, you have to understand the pros and cons of drop shipping.
Tip 7 - Getting Know The Pros and Cons of Drop Shipping and Wholesale
A pro of dropshipping is you don't have to worry about inventory and shipment, you pretty much don't have to keep any of this stuff on hand, so it saves you a lot of time and money. However, the con is that you need to make sure your packaging is A1. If you're not shipping it yourself or heavier team shipping it, and you're completely trusting your vendor to ship it for you, you don't know how it's going to come and how the presentation is going to be. It really comes down to trust, but you don't know if they're even shipping your stuff out in time to get to your customer. So you really need to just research and do figure out what works best for you: if you want to do a wholesale business or you wanna do a drop shipping business. Plenty of people have been successful in both, but you just have to know what works better for you.
Tip 6 - Know What You Are Selling, Expertise Makes You Trustworthy
No matter you are going to sell raw hair, Remy hair or virgin hair, that is such an important thing you need to know the products you are selling and you must know the difference between them. To make your customers trust you, you must fully understand the characteristics and advantages of each of your products, as well as the differences between each product line, so that you can better recommend and provide customers with the best hair products. A better understanding of the product also helps you to what the difference between you and your competitors, allows you to gain an advantage over customers.
Tip 5 - Set The Budget For Your Hair Business
You must have a budget in place and know how much you're going to spend. Because if you're not making money right away, in order to keep the business going, you have to stay investing in your business, so you have to set a budget of what you want to spend on inventory or advertising or marketing. How much is going to go into your site? How much is going to go into your branding? All that is included in your budget, you have to figure it out before starting. You can't just start and then all these costs are coming up and you don't know what to do. So research and figure out a budget that works within your means will also allow you to build your business at the same time.
Tip 4 - Build Up Your Human Hair Brand Identity
This is so vital because with the market being oversaturated, there are so many hair companies. How are you going to stand out? How do you need to do separate yourself from your competitors? What makes you different? When people think of your company, what do you want them to think of? What is your brand identity, are you going to be a luxury brand or you want to be a more affordable brand? It all depends on your business model and brand identity. When you think of brand identity, think of something that's going to make your brand and your business pop. How you're going to separate yourself from every other hair company out there so that's something you really need to put time into.
Tip 3 - Prevent Being Scammed From Your Hair Business
You have to have a system in place for scammers, to securely process your payments on your site. So when people check out you need to make sure your system is lock and key because scammers are at an all-time high. We noticed people scamming for a living, they will order some hair and then a few days later said "I never got it", open the dispute against you and get their money back, then you're out of your other product and money. So you need to make sure that your processing is intact if you've got scammers on deck and then you just have the back-end is taken care of: prep packaging, presentation, and customer service that stuff is important.
Tip 2 - Wholesale Hair Products From Manufacturer Not Distributor
Where you're getting your product from? Is your vendor has a manufacturing factory? Are they just a distributor? If they're a manufacturing company, this is where you're getting your hair products directly from the source, because this is the way you can have the best quality hair products at the cheapest prices, that you can possibly maximize your profits. If your human hair vendor is only a distributor means there's a middleman getting the hair from somewhere else and reselling it to you, so your prices are going to be much higher because the middleman also has to make a profit. So you'd better to wholesale hair products from a manufacturer such as JVH, factory direct-selling price guarantee you save cost and earn more money! Meanwhile, the hair factory can provide you with better quality assurance and more timely delivery.
Tip 1 - Cooperate With A Reliable Hair Vendor For Quality Assured Products
This is the most important, determines the quality of the products you sell, customer satisfaction, and the reputation of your company. As you know, you may buy "100% human hair wig" with mixed animal hair or synthetic fibers, or "unprocessed Brazilian virgin hair" mixed with damaged hair from bad manufacturers. So you need to go through repeated selection before placing an order to ensure that you can find a trusted supplier, then reach long-term and stable cooperation. Remember, don't blindly pursue the lowest price, quality and service should also be considered comprehensively when choosing trustworthy vendors.
That's all our tips for you to starting a hair business, hope you learn some things. Anyway don't rush, take your time to do research. If you still have any question, please feel free to send your inquiry to us, JVH as a leading hair vendor with a factory in Guangzhou, China, not only can offer you the best quality human hair wigs and virgin hair weaves at the best factory prices, but also give you the professional advice on hair business, looking forward to building win-win business relationship with you!