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How to build a successful business


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Are you a seasoned lash artist wanting to grow your business?

Do you operate your lash salon from home and want to establish your brand?

Are you contemplating starting your own business from the ground up?

As a lash artist or as someone considering breaking into the lash world, the timing couldn't have been more perfect. According to a survey, the lash extensions industry is expected to grow 5.2% between 2019- 2025, while the estimated online equivalent growth is 7.1% until 2025. Also, it is predicted that between 2019-2024, the industry will reach $1.5 billion in product sales. Brilliant, hey?

We reckon it is time to put all your thoughts of starting/growing your business into action at full throttle. Have you considered a wholesale business? Does it sound daunting? We have laid out the roadmap for you to start your business, so all you need to do is follow the guidelines and jump on the road to a successful business. Let's get started!

Goals for the business

Just like Earl Nightingale, author, once quoted, "People with goals succeed because they know where they're going," having a clear view of what you want to achieve from your business is integral. Setting goals help you stay focused. Start with asking yourself these questions:

  1. What part of the industry do you intend to conquer?
  2. What is your capital investment?
  3. What are your short and long-term goals?
  4. How do you want to operate? From home or a wholesale shop?
  5. Do you want to work autonomously or in partnership?
  6. What are the legal aspects of setting up a wholesale business?
  7. Who are your customers?
  8. How do you track your spending and measure your profit?

If you outline and answer the questions above, you will, by now, have a better picture of how you can take the first step to translate your idea into a plan.

Market analysis

A market survey of your potential business is an essential aspect of the strategy to venture into any business. Suppose your audience is in the beauty industry. In that case, you can start with visiting salons, having casual chats with salon owners and customers to get a feel for the industry, and attending expos and conferences will help you identify potential gaps and challenges and weigh up your competition. You can then build your strategy from what you've learned. This is an excellent opportunity to network and build relationships with industry-related influencers to get an inside view of the industry help steer you in the right direction.

How to source the product?

While this phase may be one of the trickiest, becoming a wholesaler or Reseller Partner with Prolong Lash can help eliminate the stress of finding a product that would not only propel your business but also save you the time, effort, and cost of manufacturing when establishing your brand in the market. Prolong Lash concentrates, ready-to-use foam pumps and Oil-Free Eye Serums are the crème de la crème lash extension aftercare products, loved by lash artists and reseller partners in over 80 countries and growing. Our partnership program welcomes all lash artists and individuals without whether you are experienced in the lash industry or otherwise, to join us as Partners and benefit from the ever-growing and profitable business opportunity you can build with your brand.

The only requirement you need to tick on your checklist is to have a business website and sign our partnership agreement. As a Prolong Lash Partner, you will enjoy the benefit of having access to your unique login to your wholesale portal, access to high-resolution product photography, individual one on one support, and so much more. You don't need to feel that you're alone on your business growth journey with ongoing support whenever you need it.

Legal registration

You will require a wholesale business license to operate as a credible entrepreneur. The USA, Small Business Administration regulations require every small business to have a state license or permit. It is advisable to check the requirements on the US Small Business Administration website. You may be required to adhere to several federal, regional, and zonal laws in the United States. If you want to register your business as a beauty supply store, you may need up to 5 licenses and permits, for example:

  1. Retail Seller Permit
  2. Business Operations License
  3. Doing Business As (DBA) License
  4. Federal Employer Identification Number
  5. Certificate of Occupancy

Take the time to make sure you understand your state and local laws before you get too far ahead of yourself.

To become a Reseller Partner with Prolong Lash, you do not need a license from Prolong Lash to sell our products. All you need to do is sign our Reseller Partner agreement, and you are set and ready to start building your business.

Storage and Delivery

If you run a wholesale business, it is only natural that you will be buying in bulk which means you will need space to stock up. If there is room in your house you can devote to stocking your inventory, you will be saving money on hiring a space in the short term. However, if you are cramped for space, the next best option would be to hire a storage unit or a space where you can store, pick, pack and send your parcels from. Maintain an inventory list of your stock to stay organized and run your business efficiently. With Prolong Lash, you can order anywhere between 4 units to 1000+ units of the 3.4 oz Cleanser Concentrate bottles, 3.4 oz Cleanser Foaming Pumps, or 1.02 oz Oil-free eye serums or 100 mls Client Packs and stock them up. Prolong Lash has warehouses in Australia and the United States, so we can get your orders to you promptly wherever you are.

Pricing

To set a price on a product, you will need to consider a few factors. By purchasing Prolong Lash products, you are already cutting out the manufacturing phase, which can be the most challenging phase to get of the ground and manage. You will not need to consider the cost of raw materials, production facilities, sourcing ingredients, packaging, amongst other product-manufacturing specific factors. You will want to make a comfortable profit on your products, so you will need to crunch some numbers. The cosmetic industry boasts annualized profit margins on cosmetics between 30% to 80% depending on your sales model.

Remember the formula for setting your retail price is:

Selling price = Buy price + Mark up

But, if you can be imaginative, entrepreneurial and look for ways to differentiate your aftercare range or "lash bath" offering from your competitors, you will be ahead of the game.

As a Prolong Lash Partner and re-selling Prolong Lash branded products, you will have eliminated the laborious process of working out the math. Depending on the quantity you order, you can buy Prolong Lash products for discounts of up to 65%, so it takes no imagination to see that is a significant profit margin right there!

It's also essential to conduct competitor price analysis on Prolong Lash branded Reseller products to ensure your price is set to cut through the competition smoothly.

Clients

By now, you would have determined to whom you will distribute your products. You could be selling to (training academies, distributors) or retailers (salon owners, lash artists) or, lash clients in your salon; irrespective of your client database, you will have to ensure that any transaction you execute is a breeze for you and your customers. Whether it is the method of payment or deliveries, your customer should feel at ease doing business with you. While arranging the logistics, ensure that the risks and costs are minimized and your supplier source is efficient and reliable. Prolong Lash is a known and trusted brand in the lash world; you can sell Prolong Lash products either branded as Prolong Lash or create your own label using our cleanser concentrate product. Being an established brand Prolong Lash gives you an easy, reliable, and trustworthy supplier partnership to help you build your business.

Market your products

"Running a business without marketing will kill it," says Paul Cookson. Don't underestimate the power of social media. Having a robust digital footprint is essential to make noise about your business. Have a website, set up social media pages, and create assets to post on your pages. Sell a product your customers or clients LOVE. Don't neglect the power of; high-quality product images, social proof in the form of customer reviews, and an easy-to-navigate website because these are all critical components to building your business and your brand.

Traditional advertising isn't dead so maybe consider placing ads in newspapers and industry-relevant magazines. You could produce press releases to get your products and brand up in lights, and it is a great way to reach out to new potential customers.

As a Registered Prolong Lash Partner, you will be granted access to a catalog of professional, high-quality product images of all our products for you to use across your social networks, website, or exhibition and conference forums and, you can access sales and support tools or reach out for one on one business building mentorship from our CEO and our Founder so what are you waiting for?

Don't underestimate the POWER of the Prolong Lash Brand reach. Having Prolong Lash as a business partner gives you phenomenal brand credibility, so consider the benefits of selling Prolong Lash branded products to the masses as a way of building your business.

Prolong Lash is here to support your personal and business growth so, you want to become a registered partner but don't have a website? Not a problem! We have our Out-of-the-Box website solution, designed to help you set up your website without any hassles; you can choose from a range of templates that are clean and user-friendly to build your own website and brand quickly and inexpensively. You will also have access to our By Invitation-Only Prolong Lash Partners Network community, "Lash Professional Network," and let me tell you, that's a community you need to be part of to access insights into the lash world, the latest trends updates, educational blogs, and videos, meet and share ideas with other industry professionals, get tips to grow your business, and get support from fellow Partner resellers.

The eyelash extensions industry is growing every day. As an entrepreneur, this could be your best chance at taking your career, business, and brand on an upward trajectory. Prolong Lash exists to empower their lash industry colleagues and encourage women toward economic independence. We are here to help. Contact us today, and our customer support team will be happy to answer all your queries and doubts and take you on your successful entrepreneurial journey.

WHY CHOOSE US:

WE ARE KNOWN: Prolong Lash is “without doubt” the most loved eyelash extensions aftercare product range in the world.

WE ARE RELIABLE: We have resellers across 80+ countries which says a lot about how much our partners love and trust us to do business with.

WE ARE IN IT FOR THE LONG HAUL: We have been in business since 2006 and we are strive every day to do better, be bigger and support and grow our partnerships worldwide.

OUR PRICES ARE UNMATCHED: Our wholesale prices are an absolute steal. You are guaranteed to make profits.

WE HAVE BUSINESS VALUE: We love our customers, and we will go to any extent to support and help our clients to build their own successful business.

 


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