Yes it is true that beauty supply is a billion dollar industry and modest stores can bring 300k to 500k per year. BUT....to be successful in this industry you and the people working in your store must 1st love people AND be comfortable selling to them. You must love them enough to actually care about listening to their needs and recommending products that will actually work for them. In my town, my store is known as the ‘Black’ beauty supply store. So, women come in with LOTS of questions. We aren’t bothered by those questions, but enjoy answering because we genuinely appreciate their support and want to help. The other piece of this equation is selling. Most beauty supply stores are small; so unlike Walmart won’t have the space to literally have everything. So your employees will have to be able to sell customers on alternate brands, styles, etc. Sometimes customers have no idea what they want your staff should be able to influence a buying decision. Finally if you’re selling expensive items like extensions or human hair wigs, your employees will not only need to be experienced in the products but able to effectively communicate enough to answer all the questions a customer will have. Just because your stores have items that most women want and need, doesn’t mean they will buy from you. Plus, smaller stores average only about 30-50 customer a day. So you have to hire employees that genuinely love people and understand that every customer that walks through the door is important. .
Need more help opening your store check out KnottyTakeovers.com. Or join our Paid Access FB Group ‘I Want To Open A Beauty Supply Store’ for a vendor listing, monthly Q&A sessions and more! .