Eyelash Extension Business Plan | How To
October 24, 2019 by The Lash Professional.
Oh hey! Good to see you again. So, now that you're a lash boss inside, are you ready to take on the world with your lash boss magic? I hope so, because this blog will give you tips for how to create an eyelash extension business plan.
Obviously to have a business plan, you need to start somewhere. If you're on The Lash Professional, you're probably looking into starting an eyelash extension business. However, these tips can work with any type of salon business plan.
Before you even think about writing a business plan, you need to extensively research the market you're planning to be part of. John Rampton of Entrepreneur suggests spending twice the amount of time researching that you do actually writing your business plan. The article I linked has a lot of great, specific information for how to navigate a market, so check that out.
Business Plan Finances
It's really important that you work out early on how much money you'll need to start your business. This will influence whether you hire employees, where your salon is, the hours you work, etc. Along with this, break up this number into different spending categories.
Are you going to market your business? How much, if any, money are you going to spend on advertising? Where are you going to advertise? Some people pay for newspaper ads, or ads on grocery store carts. Maybe your perspective clientele is super social media savvy, so you want to target Instagram users. Plan to market strategically, so that you're not wasting any of your startup money.
Are you going to be working alone? Are you going to hire employees? If you hire employees, how many will you hire to start? Are you going to pay them commission or hourly? Finances are obviously crucial if you're flying solo, but when other people are dependent on you, have your sh*t figured out!
Where will your business be? Would you prefer to work out of your home, or do you want to lease a space? Maybe you actually want to own a space! More power to you, lash boss. If you decide to work somewhere other than your home, try to find a good location that is easy to spot and find by clients.
You also need to decide what services you're going to provide. Will your salon just offer lash extensions, or do you plan on adding lash lifts and tints as well? (Ahem, we think you should!) The Lash and Sugar Company offers not only lash extensions, lifts, and tints, but sugaring and tanning as well! This makes it a one-stop-shop for clients. Convenience for them, money for Lash and Sugar! Considering adding any beauty service is a good thing to do, because the more a client can rely on you, the more likely they are to keep coming back for more.
All of that being said, where are you going to get the things you need to run your business? You can't do lashes without, well, lashes. Find brands that you like, would personally use, and won't break your budget. See how everything goes back to finances?!
For all things lashes, check out The Lash Professional. Not only will you be offering your client the best products, you'll be joining a Lash Gang that has your back through your eyelash extension business journey.
What are you waiting for? Go write that business plan, babe!