Cosmetics is one of Africa’s leading products in the fast-growing beauty industry. This article will look at how to start a side cosmetic business. I remember many university students on campus investing in cosmetic products far above what they could afford. These students wanted to look good and feel good about themselves, as many claimed that it improves their self-confidence!
A large variety of cosmetic products. Choose your niche!
The cosmetics business is lucrative because everybody uses cosmetic products like cream, soaps, shampoo, makeup and many more subcategories. Gone are the days when this kind of product only appealed to women. Men use makeup products as well today. The cosmetics industry is vastly populated with various products that appeal to customers with different tastes, experiences, social strata and financial capacities. Because there are multiple aspects of cosmetics, you can choose the one that has a high demand, and you have a passion for it and start your own business.
To launch a business, we advise you to explore makeup and simple body soap as one subcategory in the cosmetic industry in Nigeria. Following our step-by-step approach, you will have to research, plan, produce products or buy them, distribute and promote them. Feel free to connect with us if you have equations. Also, get our Joadre Tribe App to get more tutorials in the future.
Research and conclude before you begin.
No matter how large or small you want to start, you will need to understand the landscape of the cosmetic industry in your area. Find out what is being imported, which cosmetics are the favourite and the price ranges. Buy the leading products or view them at a shop to find out the production and distribution companies. Do further research to know more about them. Find out their selling point, what makes them unique and the pricing f these products.
Now, specify which niche you would like to provide your products for. Are they students? What can they afford? Start with one product. This is like a guiding strategy that we always advise those with less capacity. When you have decided which product you would like to start with, carry out specific research about the potential alternatives in the market. If you are getting from the company directly or dealing with wholesalers. It is also important to find successful owners of such kinds of businesses and get familiar with them, try to study their strategies, sales tactics and marketing. At the end of your research, you should answer the following questions:
- What product do I want to produce or distribute?
- Who are the other producers or distributors of similar products?
- How much is this category o product going for?
- Where do potential customers by their preferred products from?
- What would you call your business or brand?
Plan for your potential customers
The need to make a plan and write it down cannot be overemphasised. Making a detailed plan helps you stay focused on your goals, and it also acts as the road map for your business. A good business plan enables you to understand the paths to take and also helps you identify the lapses in your business and how you can work around them. You can get our Tribe app and attend the free 6 Key program tutorials to learn how to make a comprehensive business plan. Also, download our free blueprint template to help you identify the next logical steps to take as you develop your cosmetic business.
Outline all avenues where you can sell your products. With the presence of so many makeup artists, your demographic spectrum widens. You are not only selling to the customers directly, but you are also selling to the makeup artists who tend to make bulk purchases. After you have developed a simple business plan, make sure you can answer these questions;
- Can I produce this product, or do I only want to distribute this product?
- Who are your customers?
- What demographics are your target customers?
- What legal set-up do you need?
From the production of cosmetics to products
Remember, you must not produce your products for now, even if we advise every African entrepreneur to own equity by mastering the manufacturing process. It is still essential to consider your abilities and financial capacity. If you do not have the skills or the finance, you can save for it. While you buy and sell cosmetic products, you can use this process to build your knowledge of the ingredients, quality, packaging, promotion, and much more.
Also, note that there is an affiliate business option for cosmetics. You can literally start with no cash by focusing on network marketing with brands like Oriflame (N3000 for registration, they give you a catalogue of products that you can select from) and Marykay (it is about N39,000 for registration and basic products). This is a great way to know if the cosmetic industry and business is for you. If you choose to buy product to sell, you can either get good and affordable makeup products from Aspamda (trade fair Ojoo) as most makeup companies have their representatives there.
Focus on cosmetics products that mater
Our world is already polluted enough, and many large companies are beginning to sincerely care to offer sustainable products or greenwash. Either way, they have done their research and know that many and more consumers care. So this is the time for you to plug into this movement. Consumers care about what they put on their bodies and their impact on our planet. We strongly advise you to start from the onset to choose sustainable products. Sustainability should go beyond environmentally friendly. Tick all the boxes to increase your business’s chance of speedy growth. Do your best to check all these various points as you engage in your cosmetic business.
- Check if the ingredients used are organically grown, processed and packaged.
- Check if the packaging is sustainable.
- Check if the working conditions for the people producing the components is fair.
- Check your supply chain and logistics network.
- Think of the communication for promotion. Are you contributing to body shaming or elevation for all races?
Investing and promote your cosmetics business.
If you want to produce your cosmetics, starting from home is advisable. If you ruby and sell, you can make it a mobile business or sell online, as getting a shop is a little premature at the start-up stage. In our fast-growing digital space, you can hardly avoid social platforms. Get your business a social media platform. Connect with social media influencers to promote your product, and remember that in-person contact is always the best. Organise introduction parties where you introduce your products to potential customers. This kind of party must not be lavish. YOu can also attach yourself to existing fairs, trade shows, social events and industry showcases.
How to get customers and maintain customers
- Word-of-mouth advertisement is always the best.
- Good Social media presence/online pictures and banners of the products. Find out how to make a good online product picture.
- Ensure that your products are original and of good quality.
- Offer good customer service.
- Create customer incentives and loyalty rewards.
Cosmetics are very important to all as we all strive to look good and feel good about ourselves. Starting a cosmetics business is a surefire way to activate success and ensure your finances.
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Thank you for reading to the end.
Cheers
