GUIDE TO STARTING A 10K A MONTH RAW & VIRGIN HAIR BUSINESS 5 STEP PLAN
Do you want to be your own boss? Free time and free financial. Do you worry about which project should you do? Almost every woman likes to use wigs, do you find the hair business market? If you know about hair and want to do hair business, let us tell you how to start a hair business.
Obviously, you can create your own business, create your own brand, create your own marketing. Finally, fulfil that dream of yours that burning desire.
I'm going to go into detail about what you'll get when you sign up as a distributor for hair complexity. and also I'm going to go over how you can sign up to be a distributor. All the information you'll need all the resources you'll need. and I also have information to contact me so if you want more information you can most certainly get that so without further ado.
Step One: Write A Business Plan
A Business plan is a blueprint for your business plans. Your virgin hair business plan will help you to focus on your strategy, manage your milestones, assign and track responsibilities. Your business plan also will help you to manage money using projections for sales, costs, your expenses, and cash. A Good business plan is a living document that you continuously return to and update as you learn about your customers, sales and marketing practices that work and don’t work, and what you project wrong for your budget forecast and adjust it accordingly.
Step Two: Find A Hair Vendor
Step number two in the ultimate guide to starting a raw & virgin hair business is finding a hair vendor. Finding your hair vendor is imperative to your hair business. You have to be sure the lines of communication is excellent, their raw & virgin hair is up to par, and their pricing is ideal for you and your raw & virgin hair business. When looking for a hair vendor here is the list of must haves!
Must Haves From Your Vendor
- Excellent communication - You should be able to contact them by phone, email, and social media platforms. There's nothing more unprofessional than being unable to get in touch with your hair vendor when a problem arises.
- Quality - How is the raw & virgin hair processed, collected? Blended? Fabrication? And Sanitization?
- Does your company perform in-house?
- How is the virgin hair sourced?
- How was the raw & virgin hair pattern created?
- Textures and lengths available?
- Are frontals, 360 frontals, or closures available?
- After payment, how long does it take for the order to ship?
- Is there a minimum?
- Is there a discount for bulk orders?
- Are you a private label company?
- Do you have samples?
- What is the return policy?
- Can I have photo confirmation before shipment of the hair?
- Are the cuticles aligned?
- Is the length measured stretched or unstretched?
- Single or double drawn?
- Is the bundle from one donor?
- Is there restocking fees?
- Do you drop ship?
Step Three: How Much Are You Going To Charge?
Ask a customer to pay too much for hair extensions, and they will stop buying, charge too little and your profit margins are terrible. No matter what you are selling, the price you charge your customers will have a direct effect on your raw & virgin hair business. Before setting your price for your virgin hair, you must know the costs of running your hair business. If the pricing of your product does not cover the cost, your cash flow will cumulatively negative, you will then have to exhaust your financial resources, and ultimately your hair business will fail.
Cost of Materials + Cost of Labor + Overhead = Total Cost
Total Cost+ Desired Profit (20% of sales) = Required Sale Price
Margins or your gross margins are the difference between your total sales and the cost of those sales. For example: If you have sales equal to $1,000 and your cost of sales is $300, your margin equals $700.
Your gross profit margin can be seen as dollars or as a percentage. As a percentage, the gross profit margin is a percentage of net sales.
Total sales (Revenue) - Cost of Sales = Gross Profit Margin
Step Four: Register Your Business
Choosing a name for your business is a significant step. You want to be sure your business name is understandable and conveys what your virgin hair business does. Your hair business name should also be catchy enough to remember. Taking this step formalizes your business and ensures no one else can use your name.
When you register your business name you’re not only complying with the laws that require this step, it also protects you. Once you register your business name, no one can use it. There are three ways to register your business name.
Register as a (DBA) Doing Business As and Creating an LLC or a corporation
Step Five: Brand Your Company
Once you have completed the steps above, it’s time to begin BRANDING YOUR COMPANY. Logo, website address (URL), website, business card, hair tags, etc.
Starting a hair business is exciting! Having everything in order before sharing your virgin hair business with the world，ensures smooth operations once you get your first sale! Using the ultimate guide to starting a virgin hair business will provide the correct steps to your journey as an entrepreneur and business owner. Have any questions ask Dropship My Bundles!