The lash market has been expanding rapidly in recent years, especially in Asia. Increased interest in lash extensions, for instance, can be traced back to the increasing number of beauty-conscious consumers in places like the United States, Canada, and Europe.
The global lash market was worth USD 1.36 Billion in 2020, and it is expected to reach USD 2.31 Billion by 2028, expanding at a CAGR (compound annual growth rate) of 6.95% between 2021 and 2028.
The demand for lash services is on the rise, so now is a great time to open a lash salon and cash in on this trend while also joining the rapidly expanding self-care and beauty industry. You can set yourself up for success and carve out a thriving niche in the dynamic lash market with the right set of skills, a solid business plan, and a commitment to providing excellent service.
Before Starting A Lash Business
Our Educators Julia Baltulioniene tips: I have owned a lash studio for 8 years now. In those years of operation, my business has won over 30 awards. Right now, I manage a team of 7 and I am proud that our turnover has increased by 32% since last year. Growing people, building teams, and creating systems is my passion; hence, I help fellow business owners create, manage, and grow strong and motivated teams.
Today, I wanted to share my insights with you. If you are reading this blog post, it means that you are already passionate about pursuing your dreams of entrepreneurship in the lash & brow industry.
In today's modern era, we are bombarded with influences from all directions, especially on social media. The pressure to compare ourselves with others has never been more significant. It's so easy to lose sight of our own unique path and unintentionally follow someone else's footsteps.
But here's the thing, my dear: being an entrepreneur doesn't always mean opening a salon. Sometimes, external pressures or the allure of certain ideas can push us into a predetermined mold that might not align with our true desires.
I want to emphasise that there are countless ways for you to achieve growth and success on your journey. You have the power to shape your own destiny, whether it's establishing your own training academy, creating a professional product line, or simply enjoying the freedom and flexibility of working independently.
Before you start your lash business, it's really important to do some market research. This will help you understand the industry and make informed decisions. Market research is really important for your business because it gives you a solid understanding of the industry. If you spend some time and put in some effort into this research, you'll be able to make smart decisions and come up with strategies that will help your lash business succeed.
- Conduct thorough market research before starting your lash business.
- Market research provides valuable insights about the industry, target market, competition, and consumer behaviour.
- It forms the foundation of your business and helps you make informed decisions.
- Determine your target audience's demographics, interests, and preferences.
- Customise your lash services and marketing strategies to attract and retain the right customers.
- Remember that success in the lash business requires careful planning, dedication, and hard work.
How To Start A Lash Business In 10 Steps By Flawless Lashes By Loreta
1. Acquire Training And Qualifications
If you're thinking of starting a lash business, you'll need to get trained and certified as an eyelash technician to gain comprehensive knowledge of the industry's intricacies.
Having a licence can give your clients a feeling of confidence in your professionalism and also ensures that your business is following legal requirements. It's important to keep in mind that each state and country has its own set of requirements, so it's a good idea to do some research and find out what qualifications are necessary in your area.
To become a licenced lash professional in your area, you may need to complete a series of courses, pass a test, or pay certain fees. Get beauty industry certification from a reputable organisation. This accreditation shows that the business follows best practises in eyelash extensions and related services.
Eyelash businesses can protect themselves and their clients with insurance. This insurance covers business liability for damages or injuries caused by its services.
2. Create Your Brand
Choosing a name for your business and creating a brand is an important step in establishing your company's identity. It's essential to come up with a name that is memorable, unique, and easy to pronounce.
Your brand should reflect your company's values, mission, and vision. It's important to consider your target audience and what message you want to convey to them through your brand. Take your time to brainstorm and research before finalising your business name and brand.
3. Understand Your Target Market
Can you tell me who your ideal customer is? Just like any other business, it's important to keep in mind that your target market won't encompass every single person. Who are the customers that usually come to you for your aesthetic services? When you're deciding who to market your business to, it's important to think about the demographics and characteristics of your target audience.
Luxury customers want lash technicians who have been trained by the best and work with reputable brands. These traits keep customers coming back. Luxury customers research to ensure star service! To reassure them, be ready to answer as many questions as possible. Use a trusted luxury brand for your salon's supplies to attract high-end customers.
If you've spent a lot of time, money, and energy on your business, you should charge luxury prices. We think you deserve well-paying customers for upgrading your kit, salon, or training.
4. Know Your Competitors
It is essential to implement tactical manoeuvres that set you apart from your rivals in the lash business if you wish to distinguish yourself from the crowd in this industry. Researching your rivals will help you determine their advantages and disadvantages, so get started there. This analysis will shed light on areas that could use some improvement as well as potential niches in which you could excel in the marketplace.
Examine the services offered by competing lash businesses, as well as the marketing approaches they employ to attract customers. This will provide helpful insights into what works effectively for them, and it will also help you identify areas in which you can improve your own lash business. Think about providing specialised services that your rivals don't offer, implementing advanced strategies for providing excellent customer service, and putting more of an emphasis on the value of additional gifts rather than price reductions.
To demonstrate your dedication to providing outstanding service, you should emphasise to your clients the significance of quality and liability. You will be able to carve out a unique position in the market and entice customers to remain loyal to your brand if you put these strategies into action.
5. Create A Business Plan
To get funding for your eyelash business, it's important to have a solid business plan in place. If you're thinking of starting your own company without any external financial support, it's still a good idea to create a business plan. This will help you clarify your business goals, understand your ideal customer, and develop effective strategies for success. To create a solid business plan for your lash company, it's important to cover the basics. This includes giving an overview of your business, describing what your company does and the services it offers. You'll also want to include financial projections, identify your target market, and outline your marketing plan.
6. Set Your Budget
To get an accurate picture of your lash business, you should think about things like expenses, initial costs, work location, the local market, and your skills. Start by figuring out your "break-even amount," which is the amount you need to cover all your costs without making a profit. Think about all of your costs, including products, utilities, business services, marketing, and advertising. It's a good idea to make your workspace fit your budget and improve it slowly as your skills and customer base grow. Focus on ways to set yourself apart from your competitors, like offering services that no one else does, giving great customer service, putting an emphasis on value instead of discounts, and showcasing quality and liability.
As a lash technician, you need to think about ongoing costs that fall into three categories: general, service fees, and marketing. Whether you work from home, a salon, or own a salon, you should look at the costs of your workspace to make sure they are covered. Set aside money for important services like banking, online booking, accounting, mentoring, and cleaning. Invest in marketing tools like a web domain and hosting, advertising, business cards, leaflets, and uniforms to get the word out about your business. Don't forget to think about taxes like National Insurance and Income Tax, and talk to a professional about tax deductions. You should always look at your prices and make changes based on the local market, customer feedback, extras, and your level of expertise. Review and raise prices often to reflect accomplishments, skill improvements, and the growth of your business.
Have you ever heard of the Iceberg Theory?
The 80/20 rule, or the "Iceberg principle," is important to your lash business. Even though the obvious parts of your business, like pricing, services, and marketing, are important, it's also important to know what makes your business successful. The part of the iceberg that you can't see is the dedication, professionalism, and attention to detail that go into providing great lash services. Putting time and effort into improving your lash techniques, keeping up with industry trends, and getting better at dealing with customers will give your business a strong foundation. By paying attention to both what people can see and what they can't, you can confidently move through the lash industry and give your clients a truly amazing experience that sets you apart from the competition.
7. Choosing Quality Products
One important consideration when launching a lash business is stocking up on excellent products. It is important to invest in high-quality materials and supplies if you want to earn your clients' trust and provide them with safe and effective eyelash extensions.
In addition to improving their appearance, your clients' lashes will benefit from the comfort and longevity that comes with using high-quality lash products. Choosing well-known, high-quality brands shows that you value quality and care about making a good impression.
Customers have more faith in your business because of the care you take with every detail and because you only use high-quality materials. In the highly competitive lash industry, standing out with a good reputation is essential. You and your customers could be in danger if you use low-quality lash products.
Online bookings are essential for lash salons. Online booking systems improve appointment scheduling and customer satisfaction. Online lash appointment booking eliminates time-consuming phone calls and back-and-forth communication. This lets clients choose their preferred date and time, reducing miscommunication and scheduling conflicts. Online booking systems organise appointments, track client information, and send automated reminders. Online bookings demonstrate your modernity and convenience, attracting tech-savvy clients and elevating your lash salon's professionalism.
8. Be Part Of A Famous Brand Community
Having your lash company associated with a well-known name can be beneficial in many ways. You can boost your company's visibility and customer base by joining forces with an already established brand community.
Associating your lash company with a well-known name increases the legitimacy of your business. The marketing and advertising campaigns for well-known brands are usually quite extensive. Building and maintaining connections within this group can be a great source of new information, advice, and encouragement. It's a great place to pick up useful tips and tricks, hear about cutting-edge methods, and share your own insights with others.
Customers who place a high value on reputation may be attracted to your business if you associate with a well-known brand. By associating with a well-known name, you can boost your credibility and position yourself as an authority in your field.
9. Choose A Good Location
So, where are you thinking of doing business? Are you planning to rent a space to set up your salon or do you already have a location to run your own eyelash brand? You have several options to choose from. You have the option to run your business from the comfort of your own home studio, or you can choose a more upscale location on a busy street. Did you know that in some places, you can provide eyelash services on-the-go? You can do this by setting up shop in a company van or another type of commercial vehicle.
These steps are essential for lash business success and beauty industry profit. They'll lay the groundwork for growth. Starting a lash business is exciting! With preparation and dedication, you can turn your passion for lashes into a successful and fulfilling venture.
10. Utilise The Power Of Online Marketing
It is recommended to conduct periodic evaluations of your marketing initiatives, adjust your tactics as needed, and consistently deliver outstanding lash services to foster customer satisfaction and loyalty.
Establish a Robust Online Presence: Develop a proficient website to exhibit your offerings, pricing, and contact details. Enhance the search engine optimisation of the content to increase its visibility. Furthermore, it is recommended to establish a strong online presence by creating accounts on popular social media platforms such as Facebook and Instagram in order to effectively engage with potential clients.
Incorporate Social Media Marketing: Employ social media channels such as Facebook and Instagram to advertise your lash enterprise. Develop compelling content, disseminate tips related to eyelash care, exhibit visual transformations through before-and-after photographs, and engage with your followers. To optimise your reach and engagement, it is recommended to take into account both organic reach and paid advertising.
Consider implementing paid advertising by investing in targeted Facebook and Instagram ads to expand your reach to a broader audience. Establish your budget, choose appropriate targeting options, and craft persuasive ad content to entice prospective customers. It is recommended to monitor and analyse the performance of your advertisements in order to optimise your marketing strategy.
To enhance your online visibility, it is recommended that you register your business on Google My Business. This will enable your business to feature in local search results and on Google Maps. We recommend encouraging customers to provide feedback through reviews, promptly addressing inquiries, and ensuring that your business information is accurate and current.
Create a Google account for your business in order to gain access to Google services such as Gmail, Google Drive, and Google Calendar. This service will furnish you with a professional email address and assist you in efficiently managing your business communications.
Incorporate Email Marketing: Employ email marketing platforms like Mailchimp to establish an email subscriber roster and distribute periodic newsletters, promotions, and updates to your clientele. To maintain customer engagement and loyalty, it is recommended to personalise your emails and offer valuable content.
Is Starting A Lash Business Worth It?
Starting a lash business can be worth it for individuals who have a passion for beauty, creativity, and entrepreneurship. As more and more people are seeking lash services, there's a great chance for you to create a thriving business and gain a group of loyal customers.
It's worth keeping in mind that there might be other businesses in your area offering similar services. Emerging as a new business is no easy feat, but with hard work, dedication, and a solid business plan, it can be a fulfilling and profitable venture.
A lash business, in particular, can offer both financial and creative rewards for those who are willing to put in the necessary effort.