Looking to start a home lipstick manufacturing business? here’s a complete guide on how to make money selling lipstick, makeup, and home makeup.
Due to the growth of fashion consciousness among the population, the use of cosmetics is booming in the country. Lipsticks are one of the many lifestyle products that are readily available and therefore available to almost everyone in every part of society.
In developed countries, the demand for lipstick is increasing. This can be attributed to the ever increasing number of working women. Additionally, people spend a lot of time on social media, uploading photos and videos, and when taking those photos and videos they want to look their best.
Growing youth population in developing countries and growing disposable income This is boosting sales of cosmetic products including lipsticks further boosting the growth of the global lipsticks market.
In the United States of America alone, there are over 68 registered and licensed lipstick companies across the country that are responsible for directly employing approximately 3,783 people as well as in the industry. at a whopping $ 4 billion a year.
Lipstick presents a lot of opportunities for entrepreneurs, and the industry is thriving and quite profitable, especially when it is well planned and sold. The lipstick market is readily available and the products are always in demand.
In fact, lipstick sales are recession-proof. According to professionals like David Hall, CEO of Mary Kay, although many people don’t want to buy a lot of skin care products due to a lack of money during a recession, they will still buy their shade of red. favorite lipstick. …
When the recession hit in 2009, Mary Kay barely noticed the impact on sales. Additionally, retailers like Estee Lauder and Essie Weingarten actually saw their sales increase during the recent economic downturn. Selling lipstick at home can be a real cash cow if done right. So how can an entrepreneur profit from this growing industry?
How to Make Money Selling Lipstick and Makeup at Home
1. Build your brand identity … To start selling lipsticks online without leaving your home, you must first try to build awareness of your brand. Indeed, consumers are much more likely to buy a brand with a strong image. Whether you make your lipstick yourself or buy it from a third party, you will need to know who you want to be the end consumer of your product.
To build brand awareness, you will need to state who you are targeting. Are they mostly busy mothers? Twenty years of creativity? Fashionista on a budget? Decide who your target customers are, then create a list of lipsticks that will appeal to that particular customer the best.
Achieving this goal will require a lot of market research. Don’t forget to create a logo and branded active social media accounts for your online cosmetics business. Below are examples of the niche market and target audience that you can choose from:
- Mature public : Providing lipsticks that best suit a mature audience can be a great solution for your online store. Today, personal care cosmetics are in great demand.
- Younger audience: a younger audience may prefer some bright colors to others. The main trends are the products for creating mermaid eyes, unicorn eyeliner, ombré and matte lips.
- Environmentally friendly public : you can start selling products without chemicals. Selling organic products and merchandise with such a minimalistic natural look is a great choice for an online store.
- Fitness industry : Focus on developing sweat-wicking waterproof products. Today, customers choose natural products with knowledge of materials and origins like never before.
- Make-up products suitable for all skin tones : Develop shades and colors that can complement different skin tones.
- Professional products : This market usually requires very professional high quality products, in some cases lipsticks suitable for cosplay.
Therefore, if you want to conquer the beauty market, you just need to follow the unique needs of today’s customers. It is also important to remember to follow safety guidelines when making beauty products at home.
2. Obtaining the authorization: Selling your lipstick online doesn’t mean you don’t need to get a license. If you are selling your lipsticks through a third party like Etsy or eBay, you can get around the law without being noticed, but you will likely need a Resale Permit, Sales Permit, and Authorization. ‘a tax permit. Obtain an Employer Identification Number (EIN) from the IRS using your business name. Use it to complete paperwork and get your business license.
3. Select your platform: To sell lipsticks online, you need an online store. Many online beauty companies choose to use services like Limited Run and Shopify to build their own branded e-commerce sites.
Others prefer to use online stores like Etsy, Storenvy, or eBay. Each of the above options has its own advantages and disadvantages. A branded e-commerce website is more professional than an eBay store, but services like Etsy provide more information for newbies and veterans alike.
4. Get some lipsticks: Inventory is the heart and soul of your business as such, it is important to sell a product that meets the customer’s standards. The most important thing when it comes to starting your own online cosmetics store is your product.
To buy lipsticks and resell them at a reasonable price, you will have to buy them at a wholesale price and then resell them to your customers. However, you should be wary of counterfeit cosmetics on sites like DHGate and Alibaba, which often sell fakes as high-end brands at wholesale prices.
5. Promote your lipsticks: when you have a product, you need to communicate it to your target audience. Some cosmetics companies use social media sites like Facebook, Pinterest, and Instagram to show off their makeup. You might even want to post video tutorials on YouTube.
You can also use influencers to promote your lipstick. Influencer marketing puts your products in the hands of the internet’s most influential users. What could be better than a hugely successful person to promote your online store? Affiliate programs that give influencers a small commission for every sale they send to your business are a great way to drive real conversions and build brand awareness.
Above all, don’t forget to use social media to do everything from promoting new products to selling to thanking customers and showing off their creative spirit. Building a community around your brand also promotes customer loyalty.
6. Expand your brand market: The lipstick industry is filled with big wigs that have a ton of money to invest in advertising. This can be a major challenge for a newcomer to the industry. However, that doesn’t mean that these new businesses can’t have a significant impact when trying to sell in the online market.
The key to the success of your start-up business is how effective your initial plan is. What efforts have you made to identify the best audience for your product? Have you identified the most popular trends and how you incorporated them into your product?
Some niches are overlooked and seen as unprofitable. So try to check out each niche and find out which one best fits your business needs. You may find that a niche that has been dismissed as unprofitable can turn out to be very profitable if you do your research well. If you want to broaden your horizons, you can create or buy beauty products that appeal to a wide audience.
In conclusion, the key to a successful home lipstick sale is primarily how well you have planned your marketing process before. actual execution of business. You will need to do your research to determine the main obstacles you will face and come up with a plan for how you will overcome them.
Another important tip to help your lipstick business succeed is to stay on top of the trends. For example, if matte lipsticks are what a lot of people are looking for right now, you can make or buy these products to follow the trend and reap your share of the profits.
You can alternate between selling lipsticks that you made yourself and selling cosmetics that you bought from major manufacturers at wholesale prices and then resold for profit.
Finding the type of business to use can be quite tricky; however, the lipstick industry has proven to be quite reliable and profitable when done right.
