How To Start My Own Cosmetic Brand – The beginning of beauty brand development is often in the form of a simple massage oil or handmade soap. And slowly, one day you will realize that you have a whole laboratory at home that creates small creative miracles for face and body care.
If the initial excitement lasts long enough for you to start offering products to relatives and friends for testing, you are already well on your way to creating a new, world-renowned brand.
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How To Start My Own Cosmetic Brand
Friends of friends start showing interest in your beauty products, the recommendations are pouring in, and you start thinking more and more about how you can monetize your hobby.
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This probably brought you here. For those of you who have already navigated the waters of entrepreneurship, this will serve as a reminder if you miss any of the steps along the way. And if you’re just starting to think about the idea of developing a beauty business, we hope our 10 steps are a good guide through this complex process.
You can’t be everything to everyone and you can’t be liked by everyone. Therefore, it is a waste of time and money to try and go that route.
If you analyze successful global brands, you will see that they have a specific group of users, and this is not accidental.
You can choose natural or organic cosmetics, preparations for mature skin, mineral cosmetics, products to heal damaged skin on hands, soaps with aromatic herbs, and more.
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If the second condition is not met, no matter how good the product is, it probably won’t sell enough. And if you don’t meet the first condition, the product may be successful, but you won’t enjoy the process of building your brand.
Your product doesn’t have to be a patented new technology or something that hasn’t been seen before. But it must have a certain position in the market and customers interested in buying it. To gather such information, you need to conduct a thorough market research.
Analyze the big and small brands, the products they make and whether something similar to your idea is already on the shelves.
Should I rent or buy a space that has sanitary conditions and equip it with the necessary equipment?
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●Would it be easier and more affordable for me to hire a company to create a custom formulation and packaging?
Should I hire other team members to manage production and packaging, distribution, marketing, sales, finance, design and social media?
●This is my side gig, will I perform with my regular job or will I quit and dedicate myself to your company? How does this affect my family budget?
It is very important to design your marketing plan. Here are some marketing channels you can consider.
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Owners of new beauty brands often put all their energy into product development and completely forget about the most important thing.
When writing a marketing strategy, what you say is as important as WHERE and WHO you have the opportunity to say it.
Think about whether you’re promoting online, in fashion magazines, in drugstore sales areas, through advertisements, or through influencers.
Since making cosmetics is such a creative endeavor, it’s easy to think that working with numbers and Excel sheets won’t make you happy. But this step is as essential as product design, so it’s important to explain as soon as possible.
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What is the cost of creating a website? (If you decide to go to an e-commerce store in step #3, include the cost of creating an online store as well).
6. Define your brand Your brand is your identity. It reflects you, your tone of communication, your appearance and your relationship with your customers.
You can choose humorous tone and happy colors to attract young audience. Or you can choose pastel colors, delicate shapes and appeal to the main women. Be consistent in any field and in any place where your potential customer comes in contact with your products.
A business plan can be temporary or detailed, depending on whether you are writing it for yourself or for the bank you are applying for a loan from.
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You can find many business plan templates on the internet, but if you are preparing one for the bank, be sure to ask your banker to provide you with a suitable form.
The purpose of a business plan is to check whether your idea has a basis in reality or is just a fantasy.
If you’re in and your business plan shows that your idea is profitable, now is the perfect time to work on your makeup formulas.
Start with the products you already have and systematically improve the formula by adding or changing one ingredient at a time until you get results you’re proud of. If you need help, our team at Beauty Trill can create the product to your specifications.
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Once you’ve decided on the final formula, it’s time to test its efficacy and safety. European regulations require every cosmetic product to have a product information file or PIF. But in addition to regulation, testing ensures that your products are safe to use and that you can safely offer them to customers.
When the product is ready, register a legal entity. There can be a lot of steps involved (depending on your country of residence) and you certainly don’t want to run into problems with the tax authorities when starting a business.
Our advice is to find an accountant you trust to keep your books and guide you through the process.
After completing the registration, equipment, procurement of raw materials, packaging design, etc., you can introduce your amazing new product to the market.
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First, you need to establish yourself in the market and attract new customers. And then you have to justify their trust in quality products, high standards and continuous improvement. Thanks to the natural and independent beauty sector, many entrepreneurs are learning how to start a home-based beauty business. The global natural and organic beauty market was valued at USD 11.5 billion in 2018 and is set to more than double by 2025 to reach USD 23.6 billion by the end of 2025, growing at a CAGR of 9.4%. Period 2019-2025 (i).
Anticipating this type of growth, it is exciting to see independent beauty entrepreneurs entering the sector by empowering themselves to become organic formulators. Not only did they learn how to design natural skin care lotions and hair conditioners, but these independent beauty entrepreneurs turned their love of herbal ingredients into something much bigger than themselves. They continue to produce high performance and truly innovative natural and organic beauty products that are taking the traditional beauty business by storm.
If a career change in natural beauty excites you, we’re here to help you begin your journey as a beauty entrepreneur by summarizing the 7 key steps needed to start a home-based beauty business.
The first step to becoming a successful beauty entrepreneur involves working on yourself. As you begin your journey to start a beauty products business, it is essential to organize your thinking.
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The most important factor in the success of your beauty brand is you. We know from experience that the biggest obstacle that can stand in the way of starting a beauty brand is you. As you begin to work through all the steps required to create a successful beauty brand, you’ll find that starting a makeup, hair care, or skin care business can be one of the most difficult and rewarding steps you’ll ever take. Can pick up, which means you should be prepared.
How you approach each challenge in your beauty brand will determine your overall success in business – and with that comes the need to cultivate a positive and growth mindset as well as create a clear vision for your business.
Branding is the act of creating a story that creates an emotional response in your target market. It’s easy to think that your brand is just your logo, but your beauty brand is much bigger than that. Your brand has no meaning without the context of what you stand for. Every part of your beauty brand, from formulation, packaging, website, marketing and visuals, must work together to create an emotional response from your target customers so they can truly engage with your brand.
Many brand owners create a unique website or feel that their beauty products are better formulated than their competitors and think they can sit back and wait for their customers to come to them. This is the wrong approach: you need to attract your customers by having a well-defined brand identity and then creating a rich sensory experience, consisting of visual, tactile, olfactory, auditory, emotional and even potential. . Flavored brand (eg lip balm!).
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Ultimately, a successful beauty brand is one that changes customers’ lives, even if in a small way. You have to decide what it means to change your life and make it happen
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