Do you want to start a business selling hair bundles? If YES, here is a 7-step guide on how to make money selling hair bundles and profit margin per bundle. Anyone passionate about hair knows that there are more to try and new ventures coming up every day. It’s every hair seller’s dream to make sure their business thrives in the industry, and selling hair bundles provide a distinctive opportunity.
To start selling hair bundles in the United States, you can make various combinations, you can select to add the same lengths of Brazilian in one bundle, or you can also combine the different lengths so people can add volume to their hair in a more natural way.
You can even choose to create a bundle deal with some hair maintenance products. If you have a special conditioner or shampoo that keeps the hair in shape and avoids tangling, add it to the hair to generate more sales and profit.
For the customer buying bundle hair, it gives the satisfaction of getting a better deal than buying the various wefts separate. Who is not in for a bargain, especially when one could calculate the discount and get the same quality but at lower price?
For you the hair seller, the advantage is also clear. You do not have to negotiate over the price anymore so your customer is happy without the risk of getting disappointed because there is no discount. You will be able to cross sell products, and get a higher margin. Higher sales volumes will get you again a lower purchase price from the hair extension manufacturers.
7 Steps on How to Sell Hair Bundles Profitably
With widespread usage and short lifespan, selling hair in bundles can be a very profitable business. To start, there’re key things you should prepare first:
1. Research Your Products
You have to first learn everything you can about weaving and the various types of human hair available as well as the differences between synthetic and human hair weaves. Note that if someone asks for a bundle of 16-inch Remy hair, you don’t want to hand her an 18-inch bulk bag of European hair because you don’t know the difference.
Additionally, you need to be able to advise customers on which bundle is best for different types of extensions, wigs and braids. Take your time to read cosmetology and hair-care books, consult with licensed hairstylists and browse Internet hair-care forums to find all you can about the products you plan to sell.
2. Define Your Brand
To start selling hair bundles in the United States, you should create a brand your prospective client can align with. Brand name, brand logo, brand meaning, etc. It doesn’t matter what the brand name is. You can name the brand from your personal life experience, why you started your hair business, how you would like to run your hair business, what kind of hair extensions & wigs you plan to sell, etc.
3. Customize Your Packaging
Have it in mind that good packaging for your hair bundles can give your customers a very good first impression. Most packages are with brand information, how to buy, contact information, etc. You can search in Google for reference. You can also find professionals to help you custom a personalized brand which can differentiate yours from others. Also note that the package materials are also very important.
Good materials can not only help to protect your hair bundles from being destroyed, but also make your customers have a deep impression about your business brand. The colour should be better same or close to your website design colour. Do not save money on packaging. Good package can bring your brand up a level instantly.
4. Find a Trustworthy Supplier
There are too many people and companies who label themselves hair factories. Suppliers may not be factories and factories may not supply hair directly. Also note that most hair suppliers found online are only suppliers who purchase hair from Chinese factories and then resell them with a higher wholesale price. Howbeit, it’s better to find a good hair supplier who has good relationship with a good factory.
Try not to make the final decision after seeing only a few hair suppliers. At least 10 hair suppliers should be checked and contacted. To check hair extension quality including smell, texture & lasting time, 20” length is best. If you have enough money and feel deeply interested with the hair supplier, each 20” length hair extension per texture is best.
5. Use Social Media
If you want to sell hair bundles in the United States, you need to go where the customers are. And these days, that means social media. According to reports, 81% of Americans have at least one social media profile. Facebook is the leader of these sites, with nearly 2 billion users across the world. A business Facebook page is an ideal way to engage with customers and direct traffic to your website.
But Facebook interface might not be the best place to sell hair bundles. Their newsfeed algorithm might bury your posts under memes and political debates. Instagram might bring you a lot more business. With an easy-to-use interface and a photo-only feed, Instagram makes it easy to show off your hair extensions and build customer engagement.
6. Leverage Content Marketing
You have to be careful how you use social media. Users hate salesy content. If you’re too pushy, they’ll scroll right past it–or even un-follow you. Instead, by using content marketing, you’re not trying to sell anything. You’re just trying to create interesting content that customers will want to share. Even though it might seem like a waste of time.
After all, you don’t get paid when someone retweets you. But you shouldn’t neglect content marketing. Each post might not bring in any revenue, but as these posts are shared, they increase brand awareness. Customers are more willing to purchase through a company they already know. Content marketing can help build that recognition before they even make their first purchase.
7. Get Physical
Agreeably, online shopping has completely changed the way we do business. Most sellers are completely bypassing the overhead of running a brick and mortar and moving all of their business online. This however has opened the door to a lot of shady dealers to sell hair bundles that aren’t worth the money. Owing to these rip-offs, a lot of customers don’t have much confidence buying extensions online.
Your customers need to be sure that they aren’t wasting their hard-earned money on a sub-par product. You can put their minds at ease by letting your customers see the product in person. You don’t need to have your own brick and mortar location to do that. Contact local salons to see if they’d be interested in displaying some of your hair extensions. Some might even be willing to sell them on consignment right from their shop.
Estimated Profit Margin Per Hair Bundle
In the hair business, margins or your gross margins are the difference between total sales and the cost of those sales. For example: If a business has sales equal to $1,000 and the cost of sales is $300, the margin equals $700. This gross profit margin can be seen as dollars or as a percentage. As a percentage, the gross profit margin is a percentage of net sales.
Nonetheless, profit margins in this business will differ by sales price, location and business mark-ups. But irrespective of all these factors, a profit margin of 25% per hair bundle is always common in the industry. Although it might be higher for some businesses, brand affinity and product mark-ups tell all the difference.