Defined as the artistic science of beautifying an individual’s hair, skin, or nails, the field of cosmetology combines the power of creativity with the energy of entrepreneurship. With the right education and training in cosmetology, it’s easy to transform your beauty business ideas into a lucrative and lasting career.
Thinking About Starting Your Cosmetology Business?
Whether you want to specialize in hairstyling or nail art, you will find that the field of cosmetology allows you to enjoy hands-on work that matters daily. In addition, this field provides the perfect opportunity for you to start your own business, and there are many unique and innovative approaches to choose from.
Understanding the Beauty Industry Today
Before you begin building your business plan and seeking out investors, you will want to understand the state of the beauty industry today. According to Gitnux Market Data Report, the cosmetology industry generates $44 billion in revenue worldwide, and it is still an up-and-coming industry. Consumers are willing to spend more on beauty products to achieve exceptional results, and profits are expected to rise by 5.7 percent in the coming years. Per the Bureau of Labor Statistics (BLS), demand for cosmetologists is expected to rise by about 8 percent between 2022 and 2032, making now an excellent time to consider starting your cosmetology business.
Key Factors to Consider Before Starting Your Cosmetology Business
As you begin to consider ways to turn your beauty business dreams into a reality, these are a few key factors to keep in mind:
- Your target demographic. You will want to craft a business that appeals to the unique needs of your prospective customers.
- Your location. Determine what the market is lacking and build a business that will fill those gaps.
- Licensing and regulatory guidelines. It’s important to know what requirements are in place before you begin launching your new beauty business.
- Marketing and promotional opportunities. You should be aware of how you are going to generate buzz about your new business before you begin crafting a business plan.
Profitable Cosmetology Business Ideas
Outside of working in or owning your own salon, there are several profitable cosmetology business ideas to consider. Here are a few options that you may have if you earn a Cosmetology Diploma:
Becoming a Makeup Artist
A makeup artist is a cosmetologist who specializes in makeup applications. Makeup artists are licensed cosmetologists who utilize the best cosmetic products on the market and the most advanced makeup techniques to enhance the appearance of their clients. While some makeup artists apply makeup for special events, such as weddings, quinceañeras, or proms, others work with actors and actresses who need makeup applied before their performances.
Some primary responsibilities of a makeup artist include:
- Consulting with clients to provide them with information about the best makeup for their needs.
- Applying makeup before an event or performance.
- Designing creative applications that set their clients apart from the rest.
Starting a Beauty Vlog or Podcast
The ever-growing world of social media has opened a treasure trove of possibilities for cosmetologists looking to take a unique approach to their career. By relying on your industry knowledge and niche skill set, you can create a dynamic social media presence and become a beauty influencer. Video blogs and podcasts are incredibly popular, and the demand for engaging beauty content is steadily rising. By building a base of steady followers and providing regular content — such as video tutorials, tips, and routine walk-throughs — you can create a digital cosmetology career entirely your own.
Launching a Beauty Subscription Service
The gig economy has highlighted the demand for subscription-based services, revealing the possibilities of starting your own subscription service as a beauty business. As a cosmetologist, you could create a subscription-based business by:
- Offering clients regular hairstyling services for a monthly fee.
- Offering nail and makeup services on a subscription basis.
By requiring your clients to pay you a weekly or monthly fee, you can collect regular revenue and develop a consistent client base that can allow you to enjoy a steady, reliable business.
Setting up a Salon or Spa
If you have always dreamed of being a small business owner, then the best option for you may be to set up a salon or spa. When you are the owner of a salon or spa, not only will you be able to provide your clients with the services they crave, but you can also mentor other professionals in the cosmetology industry. Together, you and your team can create a special place in your community where people can connect with one another and indulge in the services that make them feel good about themselves.
Diving Into Specialized Cosmetology Services
If you are truly looking to build a career that is distinct and different, you may want to consider diving into the world of specialized cosmetology services. Some unique opportunities include:
Exploring Cosmetic Trade Shows and Exhibitions
As a cosmetologist passionate about the beauty industry, you understand that networking is the key to success. When you become a trade show and exhibition host, you can bring together industry professionals from around the state or across the country, giving them an opportunity to showcase their products and services. This is one of the best entrepreneurial opportunities for cosmetologists.
Offering Mobile Foot Massage and Reflexology Services
If you are interested in taking your expertise on the go, you could start a mobile beauty business. To be successful, you may want to consider a niche service that people would prefer to enjoy on-location, such as at home or at the office. Mobile foot massage and reflexology services appeal to a wide range of people, particularly those who must spend a significant amount of time on their feet. It is both a convenient and indulgent beauty experience that people would be willing to pay for.
Establishing an Image and Style Consultancy
As you build your brand as a cosmetologist, you could become a consultant who helps others in the industry build their own businesses. Consultant work can be incredibly lucrative, and it’s also appealing to those looking to take a more structured, business-centered approach to their cosmetology career.
Online Opportunities in the Cosmetology Industry
Remote work has allowed people across all industries to find a better balance between their careers and personal lives. While you may have thought that the cosmetology field would require you to report to work in-person each day, you might be surprised to know that there are several digital business opportunities in the industry, such as:
Selling Cosmetics and Beauty Products Online
Online sales of beauty products and cosmetics soared, generating more than $86 billion in revenue in the United States. By leveraging the power of social media and focusing on high-quality products that cannot be found in department stores or pharmacies, you can easily create an online beauty product marketplace and sell your products directly to consumers.
Affiliate Marketing for Beauty Products and Services
Affiliate marketing is another remote business opportunity in the cosmetology industry that you can consider. Again, you can rely on the power and influence of social media to build a solid follower base, and then you can work with outside companies to begin promoting their products to your followers. Zen Business reports the commission rates for affiliate marketing in the beauty industry are among some of the highest in the world, making this a worthwhile business endeavor.
Building a Cosmetic Store or Beauty Supply Store Online
Launching a brick-and-mortar boutique that sells cosmetics can be an expensive endeavor, and it can be quite challenging to survive in a competitive economy. However, there are far fewer start-up and overhead costs associated with an online boutique, making this an excellent business opportunity for those interested in remote work.
Niche Markets in Cosmetology Business
Niche markets are ideal for small businesses, particularly within the cosmetology industry. Rather than trying to compete with the broad scope of larger companies and corporations, you can focus on a niche within the industry. Niche markets are known for offering lower competition and higher profits, but you need to know which niche markets are worthwhile.
Natural and Organic Skincare Products
As consumers become more aware of the byproducts included in many mass-produced beauty products, they are finding the idea of natural and organic skincare products to be more appealing. These products, which are typically available at a higher price point, are in high demand among a wide range of demographics.
Homemade Skincare Products
By combining your expertise in the cosmetology field with your passion for creativity, you can create your own homemade skincare products and sell them to interested consumers. More and more people are turning to all-natural, homemade products, because they feel that they are not only more trustworthy, but also more effective.
Specialized Makeup Products
The skincare routine reigns supreme right now. Heaps of people across all market segments are looking to use specialized products that will deliver personalized results. These products are often crafted in small batches and available in exclusive formats, ultimately driving up demand and increasing the potential for higher revenues for your business.
Successfully Launching Your Cosmetology Business
Once you have an idea of what your cosmetology business will look like, it’s time to create plans and put them into motion.
Essential Steps to Start a Beauty Business
These are the steps you need to take to start a beauty business:
- Conduct market research and uncover your niche.
- Determine which business concept is best for your personal interests and passions.
- Develop a business plan.
- Ensure that you meet all regulatory and licensing requirements.
- Begin building an online brand and increase your visibility.
- Promote your business, using both traditional and online marketing strategies.
Tips for a Successful Launch
Once your business plan is in place, and you are ready to begin selling your products or services to customers, it’s time to focus on successfully launching your business.
The best way to launch your beauty brand is to:
- Promote your niche services to a targeted audience. Knowing what the market is lacking and solving that problem for consumers is the key to a successful launch.
- Start building your online brand in advance of your launch. Create social pages, start gathering followers, and provide information about your business before you get started.
- Begin networking in your local community. You need to get your name and voice out there, not only within the beauty industry but also in the small business community.
- Serve as a model for your business. When you are selling the idea of beauty, you need to look the part. Be sure to invest in yourself, as you will be the face of your beauty brand.
Sustaining and Growing Your Business
Once you have launched your business, you will need to nurture it along the way so that it will continue to be successful. By continuously improving your services and adding more opportunities for your clients, you will be able to sustain and grow your business, allowing you to enjoy a lifelong career in the ever-changing field of cosmetology.
Turn Your Beauty Business Ideas Into Reality With a Cosmetology Diploma From Florida Technical College
At Florida Technical College, we offer a Cosmetology Diploma program (in both English and Spanish) that emphasizes the skills needed to obtain state licensure to practice cosmetology in the state of Florida. In addition, this diploma program covers the best business strategies and techniques needed to launch your own small business.
Request more information about our online trade and technical programs today.
Sources
https://www.ftccollege.edu/program/diploma/cosmetology-diploma-english/
https://www.ftccollege.edu/program/diploma/cosmetology-diploma-spanish/
https://www.zenbusiness.com/best-new-business-ideas-in-the-beauty-industry/
https://www.uschamber.com/co/start/business-ideas/beauty-business-ideas
https://www.nerdwallet.com/article/small-business/beauty-business-ideas
https://www.beautyschools.org/students/careers-in-beauty
https://gitnux.org/cosmetology-industry-statistics/
https://www.bls.gov/ooh/personal-care-and-service/barbers-hairstylists-and-cosmetologists.htm
https://www.weridi.com/weridiblog/blogpost/njvelj-factors-to-consider-before-starting-a-salon-business
https://www.indeed.com/career-advice/careers/what-does-a-makeup-artist-do
https://www.statista.com/topics/2381/beauty-and-personal-care-ecommerce/#topicOverview
https://www.strikingly.com/blog/posts/what-is-a-niche-market-examples-benefits-how-to-find-them
https://www.wix.com/blog/how-to-start-a-beauty-business
https://beautytap.com/2021/06/steps-to-launch-your-successful-beauty-business
