Starting a business of any kind is complicated. It is, nevertheless, a tremendously fulfilling and thrilling experience.
There are several factors to examine and consider.
The primary consideration will be the sort of business you will establish.
With that, I propose that you choose a business that you enjoy. For those passionate about lashes, delving into the lash industry and starting a lash business might be the perfect endeavor.
The lash extension market was valued at 1.36 billion USD in 2020 and is expected to grow to 2.31 billion USD by 2028.
As you contemplate venturing into this lucrative industry, you’ve got your finger on the pulse.
But where do you begin? By breaking down a lengthy procedure into stages!
This blog is just what you’re looking for: a step-by-step tutorial on how to start a lash business.
Here, you’ll navigate through the initial steps seamlessly. So, get ready to start on your lash industry!
Understanding Lash Market
Skipping market research is like diving into the water when you can’t swim – it’s not a good idea!
So, what exactly is market research?
It is the collection of structured knowledge on the business landscape.
For example, delving into the world of lash businesses and establishing your own eyelash brand requires a deep understanding of the market.
Understanding the many sorts of clients, their demands, current lash trends, and so on are all part of market research.
However, random searches do not produce fruitful results. So, what are your alternatives?
You might follow the procedures outlined below, which provide a solid foundation for organizing your study.
Additionally, it’s crucial to explore the specifics of eyelash extension services to offer your clientele a unique and sought-after experience.
Why Are False Eye Lashes So Popular?
False lashes are a critical millennial trend that everyone can appreciate.
Getting lash services used to be a novelty that gave the sense of going above and beyond to seem respectable.
Fortunately, with new technology and improved versions, false body lashes blend seamlessly with your face.
Instead of appearing like extras or giving one an artificially made-up appearance, the extensions just complement one’s natural eye shape.
Because of these benefits, lash extensions have become a popular go-to beauty product for image-conscious millennials and Generation Z.
These folks aren’t afraid to spend much money on artificial lashes.
It has also become a must-have cosmetic item for those looking for a new look.
We currently live in a world where wearing lash extensions is considered a basic everyday cosmetic notion, and those minks are no longer kept in our wardrobe drawers for special occasions.
In this thriving beauty industry, there’s a growing demand for skilled lash professionals who can provide top-notch services to lash enthusiasts.
The lashes business is booming, offering a lucrative opportunity for entrepreneurs looking to dive into the eyelash business.
What is an Eye Lash Business?
A lash extension business is where skilled lash experts apply eyelash extensions and other lash-enhancing treatments to your face.
Of course, it is not a one-time appointment like you may have at a manicure salon.
The eyelash extension professionals meet with their customers twice or more times to discuss their needs, such as their eye shape and lifestyle.
The eyelash extension business is a complex transactional business.
Customers rely on their lash specialists to give them excellent advice based on honesty and integrity and a comprehensive salon experience that includes an appealing yet professional environment, customized attention, and vital customer service.
Thus, the eyelash extension business is as large as any other beauty industry-related business and demands you give it your all regarding strategy and operation as a business owner.
Is the Lash Industry Growing?
As the need for lash extensions rises by the day, the lash industry is a highly popular side hustle for many beauty industry gurus.
More and more customers are becoming image-conscious and are willing to spend large sums of money on lash volumizing solutions.
According to my analysis, the new lash business has expanded four times its size since 2018, when its revenue potential was about $270 million.
Since then, the industry has risen at a consistent annual pace of 14%. At this rate, the lash industry’s revenue potential will reach $1.6 billion by 2025.
According to Grand View Research, Inc., the US lash business was valued at $206.4 million in 2017 and increased to $269.7 million the following year.
Researchers expect the average growth range for the new business from 2021 to 2026 will be $496.83 million, with a compound annual growth rate of 4.48%.
So, if you want to join this worldwide style movement and own your lash business, now is the moment.
Demand in the industry will only rise year after year, resulting in a solid sales-profit ratio. Be your own boss and delve into the lucrative world of lash extensions.
Things to Know Before Starting Lash Business
We now understand it’s a fantastic business opportunity, and you’re eager to start your own business in the lash industry.
The product is in high demand, and everyone is receiving them, right? So you anticipate it to be lucrative and everything to go well.
Before you go in, ready to spend your hard-earned money, educating yourself on the lash industry’s fundamentals is a good idea.
If you’re an experienced lash technician, you’ll probably already know most of this, but for the rest of us, consider the following points:
Understanding the industry’s intricacies is crucial as a budding business owner in the world of lashes.
From the technical aspects to the business operations, immersing yourself in these fundamentals will set a strong foundation for your lash company.
So, embark on this journey confidently, knowing that your dedication and knowledge will pave the way for your success in owning your own lash venture.
Having your own lash business is not just about offering a product; it’s about understanding what your target audience truly desires.
Delving into the current market trends and comprehending potential customers’ preferences is key.
Understanding your target audience regarding age, gender, and lifestyle is crucial.
This knowledge forms the foundation of your strategy. It’s akin to tailoring a bespoke lash experience for your clientele.
And the result? More consumers are satisfied with services tailored to their specific needs and preferences.
Furthermore, this informed approach leads to more customers walking through your doors.
Word spreads as you decipher the market and cater to your audience’s distinct desires.
Your reputation as a lash expert with a keen understanding of client preferences grows, bringing in a steady stream of customers seeking the unique experience your business offers.
This is the essence of building a truly successful lash business.
Diving into the world of lash businesses requires a comprehensive understanding of the landscape.
Take the time to research and analyze what other lash businesses are offering.
This provides insights into the services in demand and allows you to identify unique opportunities to stand out.
Additionally, explore the range of other lash supplies available in the market.
Quality materials are the backbone of exceptional eyelash services. Knowing what’s out there gives you the best tools to create stunning lash extensions.
In this digital age, the influence of social media accounts cannot be understated.
They’re not just platforms for promotion but windows into trends, techniques, and client preferences.
By staying active and engaged, you’ll build a following and remain at the forefront of what’s happening in the lash industry.
Lastly, don’t limit your observations just to lash salons. Visit a local nail salon and pay attention to their operations.
While seemingly unrelated, valuable lessons can be learned about customer experience, ambiance, and effective marketing methods that can be applied to your lash business.
This approach will give you a comprehensive understanding of the market and serve as a springboard for your venture.
It’s about learning from the best in the field, adapting those learnings to your unique vision, and crafting a lash business that sets new standards of excellence.
Eyelash Salon Location
As a necessary first step, you must decide where you want to establish your lash business: at home, in a rental lash salon, or, better yet, in a new location that you own if you can afford it.
The critical decision of choosing a salon space is dependent on your financial security.
Most lash business owners decide to hire out salons fully outfitted with all the essential equipment.
You may rent such places at a low fee, and if your business and revenues grow, you can purchase the space.
Setting up a salon at home may be less expensive, but the expenses will balance out if you purchase all eyelash extension supplies from the ground up.
There will also be additional fees for providing security and other logistical considerations.
Mobile salons are another option if you can set up a mobile salon and travel to the client’s house for services.
Remember, the space you choose for your lash studio sets the stage for your business’s success.
It’s not just a location; it’s where you’ll weave your artistry, transforming lashes and creating a haven of beauty and confidence for your clients.
So, whether it’s a cozy eyelash salon or a well-equipped rental, let your choice be a canvas for your passion and dedication to the lash industry.
Courses and Training
Embarking on the lash artist journey is a significant step towards establishing a successful lash business.
To begin, you must be a qualified and certified lash technician.
This certification demonstrates your expertise and assures your clients that they’re in capable hands.
Alternatively, you can bring experienced lash artists to join your team, each contributing their unique touch to your studio.
Lash training is a pivotal aspect of this journey. It’s not just about applying lashes but also delving into the finer details of lash artistry.
As a lash tech, you’ll dive into lash terminology, understanding the nuances between mink, fake, and synthetic lashes. It’s about cultivating in-depth knowledge that sets you apart in the industry.
And let’s remember the importance of selecting the right lash adhesives.
Each adhesive contributes to the final masterpiece, ensuring longevity and comfort for your clients.
It’s a meticulous process, like an artist choosing the perfect brush and paint for a canvas.
Monthly Income vs Monthly Operational Cost
Absolutely, before diving into the world of lashes, it’s essential to have a clear understanding of your financial landscape.
Start by evaluating your personal finances and consider setting up a separate business bank account.
This distinction ensures that your business expenses and income are neatly organized, making it easier to keep track of your financial health.
Create a comprehensive list of your monthly business expenses, including lash supplies and rental costs. Alongside this, project your estimated monthly income.
This gives you a fair idea of your potential earnings. Subtracting your operating costs from your projected income clearly shows your monthly profit.
As you embark on this journey, you must consider startup costs.
This could include anything from licensing fees to initial inventory investments. Understanding these expenses helps you make informed decisions about the financial feasibility of your lash venture.
Consider the structure of your business as well.
As a sole proprietor, your personal and business finances are closely linked. Establishing a sole proprietorship allows you to have complete control, but it also means that you’re personally responsible for the financial aspects of your lash business.
Remember, every financial decision you make is an investment in the success of your lash venture.
By clearly understanding your finances, you’re setting a strong foundation for the prosperity and longevity of your business.
How to Start an Eyelash Extensions Business?
Starting your own lash business may be thrilling and terrifying, especially if you have yet to gain experience venturing out independently.
It’s normal to feel overwhelmed by the vast amount of information and details to consider.
Rest assured, my guide offers step-by-step instructions, providing a clear path forward in this exhilarating journey.
Pick a Business Name and a Logo
Naming your company is a pivotal step in this journey. It’s like choosing a name for a dear friend; it should resonate with you and your aspirations for your business. While creativity is encouraged, opt for a business name that’s easy to say and remember.
Think of it as a first impression for potential clients. You want it to be something they can easily connect with.
Once you’ve settled on a name, ensuring its availability is crucial. You wouldn’t want a copycat brand to confuse your clientele.
A quick search on Google is a great starting point.
You can also check official government websites for business listings and registrations. Most people also verify the name’s availability on social media platforms.
After you’ve secured your business name, it’s time to craft your brand identity.
This encompasses more than just a logo; it’s the visual representation of your business’s personality. It should be charming, perhaps a touch whimsical, yet exude professionalism.
If you have some basic design skills, you can try your hand at creating your own logo.
Alternatively, platforms like Fiverr or Upwork offer personalized logo services. Several free logo-creation websites like Adobe, Wix, Freelogodesign.org, and Canva exist.
Should you prefer a more comprehensive approach, consider collaborating with a web design firm to handle your logo and other online solutions.
Take note, your own eyelash brand is an extension of you and your vision.
Every detail, from the name to the logo, shapes the identity of your business. It’s a personal touch that sets the stage for a flourishing venture in the world of lashes.
Register Your Business
With a professional-sounding name and a beautifully designed logo in place, it’s time to take the next step and make your lash venture official.
This involves registering your company with the local or regional government.
Keep in mind that different locales have various methods and criteria for registration, so it’s wise to check with your local government to ensure you have all the necessary details to kickstart the process.
Next, consider opening a dedicated business bank account.
This will help keep your personal and business finances separate, ensuring that your lash brand’s financial transactions are transparent and organized.
When it comes to registering your business, it’s essential to choose the right business entity that aligns with your vision.
You have four options: sole proprietorship, partnership, corporation, and LLC.
Each comes with unique advantages and disadvantages, allowing you to select the model that suits you best.
If you opt for a sole proprietorship or partnership, you and your partner are the sole owners, bearing both the rewards and responsibilities.
This means you reap all the benefits but also personally shoulder any losses or liabilities.
On the other hand, in the case of a corporation or LLC, your business becomes a legal entity, and profits are distributed among shareholders.
This structure also provides personal protection in case of legal issues or client debts.
We must uphold the significance and essential need of having your own website for your lash business.
Consider it your online marketplace and virtual storefront.
Even though lash companies primarily operate in physical salons, a robust website can extend your reach and attract more clients through online searches.
It’s like a beacon in the vast digital landscape, guiding potential clients to your services. Your strong web presence will undoubtedly help you receive more exposure.
Furthermore, having a powerful business website will offer your company a professional edge.
At HostPapa, we understand the unique requirements of running an online business.
The hosting plan provides a comprehensive solution, offering fast server speeds, unlimited webspace, maximum security, site maintenance, your domain name, business email, and much more. You can confidently establish and manage a profitable business website with these resources.
Create a Detailed Lash Business Plan
When you invest your hard-earned money or secure bank financing for your new venture, having a well-crafted and comprehensive business plan is essential.
Think of your business strategy as the compass guiding your lash company’s journey.
It’s a personalized handbook providing a clear, step-by-step roadmap covering crucial aspects like business finances, capital allocation, and investments.
Additionally, it outlines your company’s aspirations, operational procedures, marketing strategies, and more.
This plan even encompasses your business backstory and details about your product offerings, including pricing. Your business plan serves as the intricate blueprint for executing your company’s strategy.
Marketing materials and strategies are the lifeblood of any successful business.
You’ve poured your heart and soul into creating excellent products and services, and now it’s time to let the world know.
After all, how can they appreciate the fantastic offerings if they haven’t seen them?
A well-thought-out and effective marketing strategy is your strongest ally today. It encompasses various campaigns, both online and offline. Leveraging the power of social media is key.
Platforms like YouTube, TikTok, Instagram, and Facebook are not just for casual browsing; they’re powerful tools for showcasing your lash business.
By creating and sharing captivating content on these platforms, you increase your visibility and add tremendous value to your products and services.
Additionally, utilizing paid advertising options on Google, Instagram, and Facebook expands your reach beyond your immediate followers.
Remember, your marketing costs are an investment in the success and growth of your lash brand.
Each piece of content and campaign is a step toward establishing your presence in the industry.
It’s a personal touch, a direct connection between your passion and the clients who will benefit from your exceptional offerings.
How Much Can You Charge For The Lashes?
Determining the pricing structure for services in your lash salon is a nuanced process.
It’s influenced by various factors, including your salon’s location, the prevailing market dynamics, the type of products you offer (classic, volume, mink, etc.), and the specific services you provide (extensions, refills, etc.).
This diversity means that there can’t be a one-size-fits-all pricing model.
As a starting point, consider charging around $120 for basic treatment, with the potential to offer higher-tier services at $300 or even more, especially for add-ons or specialty lash treatments.
In the early stages of establishing your own lash business, it’s wise to keep your pricing competitive.
This not only helps attract potential customers but also allows you to build a loyal clientele.
As your business gains traction and you cultivate a network of satisfied clients, you can gradually adjust your pricing to reflect the value and expertise you bring to each lash session.
It’s a testament to the quality and personalized service that defines your lash business.
How to Apply for a Lash Business License?
Navigating the landscape of licenses and permissions may seem daunting, but it’s an essential step in establishing your lash venture.
Like any other business, your lash salon must be properly licensed and permitted to operate.
It’s important to note that specific requirements can vary depending on your location, so it’s crucial to familiarize yourself with the regulations in your area.
Beyond the standard government permissions, diving into the specifics of the cosmetic industry, which your lash business falls under, is a smart move.
This could entail obtaining licenses related to healthcare, FDA compliance, and cosmetics, ensuring that you’re meeting industry-specific standards and regulations.
To streamline this process, I recommend visiting the websites of your local and federal governments, where you can find detailed information and resources related to acquiring the necessary licenses and permissions.
Additionally, reaching out to the relevant authorities for guidance can provide valuable insights and ensure that you’re on the right track towards making your lash studio a reality.
Final Thoughts on How to Start a Eyelash Extensions business
Eyes speak volumes, and lush lashes have become integral to achieving that captivating look.
They hold a special place in the hearts of many, especially fashion-forward millennials, who invest generously in lash treatments month after month.
The United States is a global leader in lash cosmetics consumption, reflecting a thriving market.
Given the promising landscape, it’s no wonder you’re contemplating stepping into entrepreneurship as a budding business owner in the beauty industry.
The potential here is truly boundless.
However, it’s crucial to tread with awareness and take the time for thorough research before officially launching your venture.
A well-crafted business plan, informed by comprehensive market research, lays the foundation for entering and thriving in the local beauty business scene.
This strategic approach not only safeguards your interests but also sets you on a path toward success, all while minimizing personal liability.
Always keep in mind that you’re not just entering a market.
Hence, you’re becoming a part of a vibrant community that values beauty and self-expression.
Your role goes beyond selling a product—it’s about helping people feel confident and beautiful, one lash at a time.
That’s where the true essence of your own lash business lies!