Beauty Supply Store Frequently Asked Questions:

How do I drum up business? This depends where you are at in years in business. However, you can do this in several ways. First, you want to ensure that you are prepared to fill the needs of your customer. The typical customer only gives a business two chances before never returning. Direct mail is always a great way to connect with the customer. Also, create a niche for your customer. Try to make sure you’re a business as close to “one-stop shopping” as possible. A good referral is a great way to build a foundation.

Where do I order products? You get products from a distributor. This is the person who carries many different product lines. You can deal with distributors nationwide. Do a search on the web for the best beauty supply wholesaler in your area.

What products should I order? If you are not familiar with hair products, get with a stylist in your market. They know what products their clients prefer and purchase. You can perhaps setup a focus group and invite 12-15 stylists to participate and give them a store incentive in exchange.

How much does it cost to start my own store? There is no clearly defined answer to this question. It highly depends on the size of your location, market, niche, etc. This information is outlined in the book “Taking it Back: How to Become a Successful Black Beauty Supply Store Owner.”

How can I raise the money to get started? Depending on your financial situation. I would first urge you to be truthful with yourself before getting into this business. If you do not manage your personal finances well, then get a handle on that before attempting to manage a large sum of money. This business generates a lot of cash and it takes discipline and responsibility to effectively manage the cash flow. However, developing line of credits is a good start. The Taking it Back System gives a list of funding providers where you won't even need credit or collateral.

Should I quit my job before or after I open the store? Yes! Do not rely on someone with no vested interest to build your business.

Do I need beauty products experience before I open up? No. However, do research on what the different products do to be prepared for your customers’ requests.

Does "the customer is always right" concept go for this business too? In many cases it does. However, there are situations where the one bad apple spoils the bunch. Like in any business, be leery of shady customers looking for a handout.

When is the best season to have the Grand Opening? Typically the fall. This is when parents are doing school shopping for their children and a few months later is the Holiday Season.

How much money can I make in this business? The smallest boutiques store can generate $200k and up. Modest sized stores can do much more.

Should I become a distributor too? Do so if you have a good handle on your operations. Creating multiple streams for your business is always suggested but don’t do this and allow your primary operations’ quality to suffer.

When can I expect to turn a profit? This is another question that has no clear formula. It depends on the investment, market, your niche and products. A store can turn a profit in as little as 4-6 months and others may take 1-1.5 years.
 
Does the Taking it Back System offer information on where to receive start-up funding? Yes.

If I have no collateral and bad credit, will someone still invest in me? We have searched for investors who are looking to invest in businesses. Many of them do not care about credit or collateral. They focus on your capacity to turn a profit!