Do you want to start a hair care product company from scratch? Or you need a sample hair care product business plan template? If YES, then i advice you read on. There are some products that are classified as everyday items; and these are items or products that people cannot do without because there is need for them daily.
One example of such products is hair products. Every day, there is need to wash and keep the hair neat and to achieve this, hair products like shampoos, conditioners, hair creams, hair relaxer, sporty wave creams are needed. You can start a business of manufacturing hair products and make massive money from it. There are two ways to go about starting a hair care product line. First, you can build a manufacturing company that handles both production and packaging of your products.
Secondly, you can find a company that manufactures hair products and strike a deal with them to handle your production according to your specifications while you take care of the packaging and adverts; this is called private label production.
I think the second option is already self explanatory, so I will focus on the first option which is starting a company that will manufacture hair products from scratch including how best to get people buy your products. Even if you are short on cash, you can still start the business as a home based business and expand with time.
Starting a Hair Product Line – Sample Business Plan Template
Table of Content
When you fail to plan, you have automatically planned to fail; so the first step you need to take towards any business is to draw up a business plan. Your business plan should include: who your targeted customers are and the best kind of hair products they use.
You should also write out every step you need to take towards production and setting up your business. Find out about your competitors, what they are doing and include how best you can beat them to the game in your plan. Write down your marketing and advertisement plans, and business goals for the next few years.
This will help you stay focused and in line towards achieving your business goals. Remember to make your goals flexible enough so that you can change them by adding new plans to them daily as you work towards the main goal.
2. Register a Company
If you are going to run the business as a home business, you may have to defer this step until you are ready to expand the business but it is important to register your business and run it as a legal entity than to out rightly run it as a personal enterprise and also get your Tax Identification number.
3. Create Your First Product Sample
This step will involve a whole lot of testing, sampling and laboratory works. it is in this step that you work with a Chemical Engineer or Cosmetologist to work out the best hair products for your product line.
People are becoming inclined these days to use more of organic or natural hair products; so if you are going to tow that line with your products, then you will need more natural raw materials like; Shea butter, coconut oil, henna, jojoba oil and other natural products; and while preparing your samples, ensure that they meet up to the Food Drug Administration (FDA) standard for hair products.
4. Production and Packaging
After you have gotten the exact sample of hair products for your company, it is time for mass production; and since you are the one doing the manufacturing, you need to purchase all the needed equipments for production in bulk, and also to order for raw materials for production in a very large quantity.
If you are going through private label production, it is at this stage that you take the samples to the manufacturing company for them to mass produce for you. Since you are just starting out, you may have to produce a smaller quantity that will serve as a sample for your product line.
The next batch of production will depend on the reception the first batch received. Packaging is another phase of production that should be handled properly. People react either positively or negatively to products at first sight, and this reaction depends on the general packaging of the products; so much care should be taken during product packaging to ensure that it not only catches the attention of any customer that sees the product on a shop shelf, but also, it intrigues them enough to want to buy the product.
This step is very crucial for the success or failure of your business. Some of the ways you can advertise your hair line products and get more sales include:
Sell to Beauty Salons
Most hair salons around not only offer hair services, they also sell hair products. You can take your hair products to most popular salons around your city and sell it to them at discount rates. Or you can make them a deal to keep the products on their display shelves, and they pay you after sales from which you pay them some percentage.
Send to Stores and Supermarkets
Another way to introduce your hair line products to the market is to take it to popular stores and supermarkets and also sell to them at discount rates. You may have little difficulty convincing supermarket owners since your product is a new product; but as soon as few people buy the products and come to buy for more, they will order for more.
Get a Celebrity to Talk About Your Product
Another way to skyrocket your product sales is to get a celebrity that will talk about or recommend your hair product. You may have to spend a lot depending on how popular the celebrity is, but you will be surprised the kind of rush and demand your product will get after that.
Build a Website
Most people do their shopping online via ecommerce sites, so you can increase the popularity of your product by creating an ecommerce site for it. Also, you can sell the product on popular online stores like Amazon and EBay.