The Business of Beauty
Believe it or not, it's never been a better time to be a beauty entrepreneur.
With the multiple makeup stores you pass, beauty counters and brands in department stores, and even the online sources available for quick order and delivery, it's hard to see the opportunity in the beauty biz, but I promise you, it's there.
And more and more of the beauty companies popping up are run by strong, driven women who have a passion for everything makeup, and they're doing it faster than their predecessors.
WWD cites how it took L’Oréal’s Lancôme cosmetics brand 80 years to reach $1 billion in sales in 2015, and Estée Lauder Companies’ Bobbi Brown took 25 years to hit that number in 2016. And they're growing even faster now.
In fact, WWD recently announced that what began as an online business selling lipstick for $29 each has earned Kylie Jenner's makeup company Kylie Cosmetics $420 million in sales in only 18 months. It is projected to rake in $1 billion in lifetime sales by 2022, according to WWD.
And with at least 40 prominent beauty startups today founded by women, the $445 billion (sales) industry is one of the most prevalent places for women to self-start their way to big-time success, and it's only going to get bigger!
But there are a few things to consider when looking to jump into the beauty industry like cost, following, building a brand etc, and why starting with a company like Senegence might be the best decision you ever make!
So if you've been thinking about joining the beauty battalion, here are my top 4 reasons you might want to consider partnering with a company like Senegence!
1. LOW START-UP COST
Starting a business, no matter what kind, always requires an investment. But the level or amount of investment varies and companies like Senegence typically have start-up costs that are 1000% lower than starting everything from scratch. For $55, you get a wholesale account with Senegence that unlocks pricing 20-50% off retail. And just like a larger company, you get rewarded for buying in bulk (sound like Costco to anyone?) To add to that, as a reseller, you have the opportunity to make your investment back within your first month! Forget hefty and bothersome business loans - because of your fantastic discount, you can sell the products you buy at wholesale for the full retail price.
2. UNIQUE SELLING PROPOSITION
If everyone on your block has a lemonade stand, chances are, you aren't going to sell much lemonade (unless you severly underprice your product). It's the same in the beauty world. The brands that do best and have really left a mark on the beauty industry have had one thing in common: A unique product that answered an industry-wide problem. With Senegence, they have a patented long-lasting makeup that puts in the hard work and long hours that you do without creasing, caking, and rubbing off. It's smudge-proof, budge-proof, and has women all over the world loving their makeup once again.
3. LOW OVERHEAD
The brands I mentioned at the top of this blog post shell out $$$ for brick-and-mortar shops, employees, workers comp, insurance, stocking product...that's a lot! One of the advantages Kylie had was that she's built her business online and so can you! Try telling a 25 yr old not to get on social media...it's not going to happen! And the best part about being able to build a brand online is the opportunity you have to reach the masses. If you put in the effort, you could reach people in different states, time-zones, or even countries - all for the same cost. The advent of social media has truly made it so you can run a multi-million dollar business on a much lower budget than 50 years ago!
4. BUILD YOUR BRAND
It doesn't matter where you work - most bosses frown upon you doing anything that is about or for "YOU" during work hours. So you spend 8-10 hours at a job that isn't going anywhere and then another 4-5 each night building out your brand...in a perfect world. The reality is, you're probably tired, hungry, and just over it all. The #1 reason I love doing what I do is because I get to work on ME all the time. I'm constantly curating my IG feed, building content, training, and establishing myself as a force in the beauty community. Kylie Jenner's brand wouldn't have the success it has today if she hadn't of built a personal brand. Because no matter where you go, who you partner with, or who is signing your checks each month, the only thing that remains is you!
If I were to have a BONUS point, it would be that you make the rules. You determine how hard you work, how much money you make, how much time you put into helping other women develop their beauty biz, and YOU determine what beauty means to you. So there they are! All 5 points! If you're serious about starting your own beauty business, you can click HERE or you can send me an email at firstname.lastname@example.org.
To see how I live my life and express myself through everything beauty, check out my Instagram HERE