Did you know that the average woman spends around $15,000 on makeup products throughout her life? With that kind of financial commitment, you can trust that there’s always going to be a market for a new and better type of mascara or foundation. And there’s no better time to build your own cosmetic brand to fill a critical niche.
Read on to discover 5 steps to starting your own cosmetic line!
- Develop a Business Plan
Before you start spending money on web designers or lining up contracts, deal with the logistics. Start by writing a business plan where you outline short-term and long-term goals.
You’ll also need to list start-up costs, including manufacturing and marketing needs. Further, you should account for personnel and project your revenue goals. Set up quarterly meetings with business partners to assess progress.
- Differentiate Your Cosmetic Brand
What void do you fill in the current market? What products will be your focus? Resist the temptation to do everything and instead focus on a few areas to start.
For example, you could carve out space in the men’s beauty market by creating the perfect concealer. Or, if you want to create makeup that fits purses or small satchels for frequent travel, focus on unique packaging.
- Build a Sustainable Cosmetic Line
With so many environmental concerns looming, sustainability is all the rage. And you want your cosmetic brand to align with consumer demands for more humane products. Consider how to start a cosmetic line that reflects environmental values.
For instance, you could focus on creating vegan products. This can help your marketing strategy, too. You’ll gain an audience with individuals committed to animal rights.
You could look into seeking certification that your products are organic, too. Organic products must originate from natural sources, unlike cosmetics that contain petroleum compounds. And you’ll want to use packaging made from recycled and biodegradable materials.
- Create a Marketing Strategy
Choose your logo and cosmetic brand name wisely since they will be the face of your company. Invest in a graphic designer to create a fresh and memorable logo. And enlist a web designer to create a site that will leapfrog competitors in the search engine rankings.
And don’t overlook social media. Create a presence on at least two platforms. And commit to posting pictures and videos every day, as well as engaging with potential customers.
- Line Up Manufacturing
When it comes to cosmetic formulation, you’ll want some help from the experts. You may lack the facilities or resources to create your products at home. Turning to experts like those at bpilabs.com makes the most sense.
You’ll be able to meet with lab experts who can help you design a competitive product, such as a liquid foundation. They’ll look at viscosity, pH levels, and other critical attributes during the development process.
And once you’ve determined your cosmetic formulation, a quality manufacturer will produce batches. They’ll also assist with packaging and labels.
Determine How to Start a Cosmetic Line
Starting a cosmetic line represents an opportunity to share your beauty expertise with the world. Whether you focus on e-commerce or a traditional storefront, you can entice customers with strong marketing. Focus on figuring out your niche and lining up a manufacturing system.
To jumpstart your entrepreneurial goals, check back for new articles soon!