By offering men and women the opportunity for an affordable indulgence, the cosmetics industry has proven to be recession-proof. Cosmetic franchises can do more than sell makeup. Many include multiple revenue streams by offering skin care, hair care, and other spa services to tie in with their proprietary product lines.
In the United States, cosmetics as a whole is an industry that is worth over $40 billion. There is an enormous market to fight for here, meaning there is room for a small franchise owner to carve out a successful business.
Leverage Personal Experiences
Knowledge of cosmetics is not necessarily required to enter this market, but it is nice to have. Direct knowledge of products and techniques can be especially important in the early days of your new business when you are dealing directly with customers to build your operation and get revenue flowing. You may be able to offload more of the work as the years go by and your business becomes established, but plenty of effort should be expected at the start.
A Franchise Brings Trust
When offering something that is going to impact the way a person looks each day, it’s important to have as much trust as possible from your target customers. That trust will be hard to come by if you simply open a store under your own name and get started. Becoming a franchisee, however, allows you to directly benefit from the trust that the franchisor has already built in the minds of your audience.
Build a Network
Selling cosmetics is about much more than offering quality products at fair prices. It’s also about building relationships with those in your local community. Your customers need to know that they can return to you time and again for a reliable experience and great service. Building loyalty among your customer base is a powerful way to stabilize revenues, but customers will only feel loyal if you develop relationships and convince them that you truly want to help them reach their beauty goals.