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There's no dream too small that can't lead to a profitable business. A hair extensions business service is no different. Catering to a particular niche will need a lot of innovative thinking to ensure your business flourishes. Starting with the right foundation is the first important step to success.
Use this guide to set yourself on the right path when starting a hair extensions business.
As its name suggests, a hair extensions business is one that makes money from the sale of hair extension products. This type of company can be run online, through a physical shop or a combination of the two.
Here's the step-by-step process you can follow to get your new venture off the ground:
Before you conceptualise your hair extension business, you'll need to familiarise yourself with the industry. Find a quality mentor who can teach you about the kind of hair extensions that work best, the aftercare process and what to do in case of a mishap.
The reputation of your brand relies on your suppliers and their products. You will need to be able to negotiate with suppliers, some even in other countries, and be discerning about their practices.
It is not enough to consider the profit margins, shipping service and hair quality of a supplier. You should also consider the delivery speed, their response times, ability to supply big numbers at a later time, dropshipping options and more.
There are no specific courses needed to start a hair extensions business. However, if you have not trained in a hair extension salon, there are several salons offering hair extensions training, microbead training, weft training and tape hair extension training. Some of them are Sirens Hair Extensions and Maiden Hair Extensions.
Diva Academy offers an accelerated one day program for $699. This program includes microbead, skin tape, micro loop demonstration, bead weft demonstration, fusion demonstration, shrinkies demonstration and a bonus clip-ins demonstration.
You can apply for in-person training or online training at Hair Candy Australia. Their training options also include business training to help you get started. The online training is available at the price of $1,497. All prices in this article were correct at the time of writing in December 2020.
If you are new to starting a business and have the means to, you can apply for a short business course. A diploma takes 18 weeks to complete while a certificate takes 36 weeks. Some available courses to consider are:
Read more about your options for online courses or compare course providers in the table below.
Carefully consider whether you will open a physical store or an online store. If you are passionate about hair extension and have the experience, you can also offer customers hair extension services. For this, you will need:
If you're planning to open an online store, you will need an e-commerce site. Your options are:
Other equipment you may want to consider are apps that help with inventory, appointment scheduling and money management.
An important step before commencing operations is deciding your business structure. Each business structure has its advantages and disadvantages regarding tax obligations and personal liability. The one that works best for you will depend on your circumstances.
A sole trader business may be the easiest and least expensive choice. You'll manage daily operations and are responsible for any business debts. In contrast, a partnership involves two or more people sharing in decision making. Both are responsible for the financial liabilities of the business.
Though a company entails more paperwork and expenses, it limits your personal liability and includes possible tax deductions.
The cost of good quality hair extensions typically starts at $100, while services for hair extension can cost up to a few thousand dollars. The average price for non-permanent extensions such as halos or clip-ins typically falls between $300 to $500. Professional permanent extensions range between $600 to $3000. Pricing varies according to the grade of hair used, length and type of hair.
If you have a business that distributes hair extensions, you'll need to account for the cost to transport goods, international tariffs, employee wages, marketing, packaging, applicable taxes and storage.
Examining the product competition in your nearby market to know what the going price is. When setting an estimated cost, take into account the fixed elements of your business and the overhead costs, so that you can set a price that helps you break even.
Always monitor your markup prices and how they sell. Use Configure Price Quotes software if you'd like to reduce the time spent on preparing quotes. The software you choose should take into account the challenges your business might face. Read more about accounting software for small businesses.
If you're choosing to launch an online e-commerce site, then the type you choose should inform your customers about what makes your product superior and how cost-effective your services are. Here are four tips to keep in mind:
What are hair extensions made from?
There are different types of hair extensions. One type is made from real, human hair collected from donors where all the cuticles are intact and run in the same direction at the time of collection. The second type is synthetic hair. This type is made out of various synthetic, blended fibres and contains no human hair. These fibres are usually very fine, plastic fibres manufactured to imitate real human hair.
Hair extensions help add hair growth, colour, volume and you can even use them to change up your style.
How long does a hair extension last?
A temporary hair extension like clip-ons can be inserted and removed when needed. Semi-permanent extensions like tape-in, micro-bead and semi-weave can last around six to eight weeks. Some permanent extensions are tape hair extensions, weft hair extensions, shrinky hair extensions and keratin hair extensions.
Can you sleep with hair extensions?
Before getting into bed, it is recommended that you secure your hair extension to your natural hair to prevent any pulling while asleep. Braid your hair with medium tightness to prevent the bonds from tangling.Back to top
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