This post originally appeared on Entrepreneur.com - #StartingABusiness
Startup Costs: $2,000 – $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? No
THE BRIEF:
Creating and marketing your own skin care product line could be a great business venture. There’s a lot of emphasis on natural, organic products these days, so a skin care line that’s transparent about ingredients could be a wise decision in terms of product marketing and consumer acceptance. The starting point for any business is research, which can include the local cosmetics counter. Most cosmeticians will be more than happy to explain the benefits of their products, including what certain ingredients will do for your skin. To keep business startup costs to a minimum, initially start with basic skin care products (cleanser, toner and moisturizer), and expand your skin care product line from there. You can promote your products online — particularly on social media — but your best advertising will likely be word-of-mouth referrals. To jump-start your business, offer free skin care analysis to customers, along with free samples of the natural skin care products you sell.
ASK THE PROS:
How much money can you make?
As is the case for many companies, there’s not much of a revenue ceiling here — it all depends on the popularity of your product line. For example, Maria Hatzistefanis built her skincare company, Rodial, into a $90 million venture over two decades.
What kind of experience do you need to have?
“A dirty little secret of the beauty industry is that Chanel No. 5 costs, like, $150, but to actually make the Chanel No. 5 costs, like, nothing… Making a bougie, expensive beauty brand wasn’t helping the mission, or very fun for me. We can all be united by that $12 coconut balm. You don’t need to charge an arm and a leg.” –Emily Weiss, Glossier
What’s the most important thing to know about this business?
“Surround yourself with the best people, and make sure it is people with diverging views. And listen to them and trust them. It doesn’t mean that you’re going to give them carte blanche, but you have to realize that there is no way you could know everything that you need to know to do your business. Focus on where you are strong and put others in place where you need support and are not the expert. Know when you are in over your head.” –Dr. Katie Rodan and Dr. Kathy Fields, Rodan + Fields
