Have you ever wanted to start a business with great customer service and the freedom to do what you want? Lash business is all about doing just that.
Because fake lashes and extensions are becoming more and more popular, more and more people are getting into the lash business.
If you want to get into the beauty business and make some money, you should start an eyelash extension business. Lash or eyelash extensions are becoming more and more popular every day. There are many reasons why they are so well-known. They are easier and more comfortable than other treatments, and they last longer. Many people still don’t know how to start and run a successful eyelash extension business, though.
This article will tell you how to start a lash extension business that will make money. You only have to do these things. We think that by the time you finish reading our guide on how to start a lash business, you will have everything you need to get started.
What Do We Mean by a Lash Business?
Lashes have always been used to make people look more beautiful. Women have been wearing them for a long time to make their looks more feminine and glamorous. But now, women have many options for how to use their eyelashes.
They can add them to their own lashes to make them longer. In this case, your fake eyelashes would be like extra ones. If you don’t want to have your eyelashes lengthened, you can put on false ones instead. If your natural lashes need to be made longer or thicker, you should think about getting lash extensions.
|Investment range||$20,000 – $35,000|
|Revenue potential/annual||$100,000 – $250,000|
|Time to build||1 – 3 months|
|Profit potential||$50,000 – $90,000|
Step 1. Industry Trends
Experts say that the number of people getting eyelash extensions will continue to rise. Most women today are willing to spend more money on their looks and beauty, which is the main reason for the growth.
So, if you want to make the most money from this service, you should think about opening your business where there is a lot of demand. This means you should go to places with lots of people, like big cities or towns.
You can also make more money by going after rich women who are willing to pay more for your services. If you can find cheaper prices for these women, they might be willing to give you more money.
The eyelash extension business is expected to grow at a healthy rate because women are getting more money and have more money to spend.
The number of women who get eyelash extensions has grown by more than 50% in the past few years, according to the most recent data. This shows that women will go the extra mile to look their best. A CAGR of 16.68% is expected for the industry from 2019 to 2023.
The market size for lash extensions was estimated to be USD 1.36 billion in 2020, and it is expected to grow at a CAGR of 6.95% from 2021 to 2028, reaching USD 2.31 billion.
Most of the time, lash extension treatments take place in beauty salons.
Step 2. Risk and Challenges Your Lash Business May Face
There are challenges that come with starting a lash business.
● Failure to Follow Safety Regulations
Some people may be allergic to getting their eyelashes lengthened. If you offer this treatment at your business, you will need to make sure that clients are not exposed to allergens and that you follow the rules and regulations set by the government.
For your business to be successful, you’ll need a big group of professionals who are willing to put in the work needed to do all the different things your clients want. You will also need well-trained staff, which means people with the right skills, knowledge, and experience. If you don’t hire enough people or don’t train them well enough, your business could take a big hit.
Eyelash extensions cost a lot of money. To make things easier, you can start your business by giving your customers cheaper lash extensions. Then, as you gain more experience and more clients, you can raise your prices.
Step 3. How Much Does It Cost to Start an Eyelash Business?
Even though the overall costs of starting a business like a hair or nail salon can be higher than starting an eyelash business, these are the main costs you will need to think about when setting up your eyelash business.
|Type of Cost||Minimum||Maximum|
|Business licenses and permits||$200||$600|
|Tools and furniture||$1,000||$3,000|
|Business name and Structure||$250||$450|
|Business cards and brochures||$300||$500|
You also have to think about how much your team makes. Depending on how many professionals you hire, a profitable lash business may cost between $10,000 and $15,000 a month to run, but this is just an estimate.
Step 4. What Supplies Do You Need to Start a Lash Business
- Medical Tape
- Lash Brushes
- Lash Cleanser
- Lash Glue
- Lash Extension Trays
- Mascara Wands
- Lash Serum
- Cotton Pads
- Lashes of various lengths and thicknesses
- Lash Lift Kit
- Lash Tint
- Lash Perm
- Consent Forms
- Client Record Cards
- Aftercare Instructions
- Business Cards
Step 5. How Profitable is a Lash Business
Lash Affair’s experts say that the average cost of eyelash extensions is between $125 and $150. This is based on their experience and the products they use.
If you run your own business and can do four two-hour lash extension appointments for $100 each, five days a week for the first year or two, you will make more than $100,000 a year. If you can make a profit margin of 50%, you will make about $50,000.
Think about how the numbers look when you are running the whole salon by yourself. As your business grows, you may want to add two lash artists, make ten lash extensions per day, and be open six days a week instead of five.
Step 6. Determine Whether the Business Is a Good Fit for You
If you want to start a business that does eyelash extensions, you should see if it’s a good fit for you. Here are some things you should look into before you open your shop.
- Does your clientele agree with what you want to do?
- Do you care about your customers and want to give them great service?
- Can you keep up with the schedule?
- Do you have the patience to work with people who are different from you?
- Do you have what it takes to start and run a business that does well?
Before starting an eyelash extension business, you should think about all of these things. If you can say “yes” to all of these questions, you are headed in the right direction.
But before you start a lash business, you need to know what the pros and cons are.
- Flexible Work Hours
- Promotes Self-Development And Creative Thinking
- High Job Satisfaction
- Exhausting, Time-Consuming, And Demanding
- Costs For Starting A Business Are Increasing.
- You Have To Take Lash Training
Step 7. Set the Appropriate Price for Your Service
It’s a good idea to check out the prices of your competitors first. If you do things this way, you’ll be on the right track. If you look at the range of prices from $100 to $170, for example, you can decide if a price in that range gives you a good return or not.
After you know what your costs are, you can set your profit margin and price range. Be aware that your prices at launch should be flexible enough to adapt to changes in the market.
There are many things to think about when deciding how much to ask. You Must Take Into Account:
Cost Of Materials
Cost Of Lash Application
Length Of Time The Lash Appointment Will Take
Additional Costs, Such As Marketing And Advertising
Step 8. Identify Your Target Market
There are a lot of businesses that are just like yours, so it’s hard to stand out. The best thing you can do is to define the type of customer you want to serve and narrow down your target market. If you can, try to figure out what kinds of people come to your salon and focus on them.
The best customers to go after in the lash extension business are:
- Women in their 20s and 30s who are at least halfway through their 30s. Most extension providers try to reach this group of people.
- Women in their 40s and 50s who are starting to lose their eyelashes but still wear false eyelashes can also be in the target market.
These are the women who are starting to see that extensions can help their lashes look younger. These women have enough money to pay for lash extensions and would like to look more professional with them.
You might be able to go after a smaller but more specific part of this market in some cases. For example, if you don’t know which target market to choose, you can always start small and focus on just one segment at a time. As you build your business, your clients will give you valuable information about the lash business ideas.
Step 9. Consider the Location Carefully
Before you decide where to open a business office, you need to know who your target market is. No matter how good your services are, if your shop is in the wrong place, it won’t be a success no matter how good they are.
Let’s say you want to work with wealthy people. Your business will have to be in a
- Luxury Community
- Downtown Business Area
- Upscale Shopping Mall
Here are some general tips to keep in mind when looking for a property for your business:
- At a major hub where public transportation is easy,
- You can grow your business by extending the length of the lease.
- Area that is ready to go and doesn’t need a lot of changes or fixes.
Step 10. Choose Your Business Name
When starting a business, the first thing you need to do is think of a name for it. There are a few things to think about here, like the number of characters that must be in the name, whether or not the domain name you want is already taken, and how much money you have. Using a longer domain name makes sense if you want to sell false eyelash extensions. This will also make it easier for your customers to find your website online.
Step 11. Create an Effective Business Plan
For starting any Business, a well thought-out and professionally drafted Multigenerational Business Plan is essential. Investors usually want to see a detailed business plan that explains the business’s goals, strategies, and expected financial performance. A thorough and well-written business plan can show an investor that the business is well-run and has a good chance of succeeding.
To make a professional Business Plan, you need an expert Business Plan writer who can design this strategic document and help you beat your competitors. Startup Stunners has been writing Business Plans for a number of years. If you want to use our services, you can get in touch with our team of experts at startupstunners.com/contact-us/
Step 12. Register Your Business
Before you start running your business, you should always register it first. This is because you might run into a lot of problems along the way. Make sure that your business is registered with the right government agencies so that you can legally run it. Before starting a business, this is one of the most important things you should do.
Visit our business startup checklist for full details on how to register your business.
Step 13. Select Your Business Structure
Once you know why you want to start a business, you can decide what kind of structure you want to use. The business startup checklist lists the most common ways for a business to be set up. It’s important to keep in mind that each structure has pros and cons.
Step 14. Fund Your Business
You can’t run your business if you don’t have money to pay for it. If you don’t have enough money to start a business, you can always borrow from family and friends, find investors, and do other things. You also need to save money and be ready for anything.
Make sure you have enough money to get your business up and running. Make sure you have enough money saved up before you put in your first money. This will make sure you are ready for whatever comes your way.
Step 15. Get Licenses/Permits
In any way, you shouldn’t be doing anything that is against the law. If you don’t have the right licences and permits, you could get arrested, fined, or even sent to jail.
You need a business licence if you want to work in the beauty business. You need the right licences and permissions. If you don’t have the right permits, you could get in trouble with the law and have to pay fines. Make sure you apply for the licences and permits you need as soon as your business opens.
Depending on where you live, you may need different licences and permissions to open a lash extension service. If you want to offer lash extension services, you will almost certainly need a business licence as well as a cosmetologist or beautician licence. You may also need a health certificate in some situations.
Step 16. Open a Business Bank Account
If you just started a lash extension business, you must open a business bank account right away. It would be better to set up a personal account that is separate from your business account. The reason for this is that you can use your personal account to buy things for yourself. You can also use the business account to pay your suppliers. So, you will have full control over the money and costs of your business.
Step 17. Get Business Insurance
To pay for any losses or damages that your business might have. It is important to get insurance for your business. But before you buy business insurance, there are a few important things you need to know.
Check to see if your business is covered by your current policy. Make sure it covers all types of business liability, such as theft, fire, business interruption, etc. You should also check to see if your policy covers accidents that happen to your employees or not.
Check out our complete guide on how to start a business to learn more about the different types of business insurance.
Is Starting a Lash Business worth It – Conclusion
At first, planning your own business might be scary, but most of the time, the risk is worth it. Having the freedom to choose one’s own schedule could make a huge difference in a person’s life.
Also, as your lash business grows and gets more customers, you may find that you can create an e-commerce lash brand that is both profitable and long-lasting. This will help people who often think about how to start a business to sell eyelashes. If you own your own business, you can choose how much money you make each month. This is something you can’t do if you work full-time for someone else.