Conduct a market research
Market research should never be overlooked. It is the first step to do, especially if you start a new business. Market research lays a firm basis for a company to grow on, preparing it for any challenges or weaknesses that may arise as your business expands.
And as hair vendor, you will need to identify the market for wigs and hair extensions in your country and other regions. Knowing the demands of the consumers, the current trends in the hair market, average price, the origin of the hair, your competitors, and who can help you will help your business go on the right way.
After that, analyze everything and decide on the hair products that you will specialize in. You are not going to sell every item in the market, so you will then have to define your target market and customer.
Make a business plan
After you finish researching the market, you can start line out your business plan.
A business plan is an essential and strategic tool for any new business. A detailed plan will help you to lay out your goals and track the progress as your business begins to grow. Without a clear business plan, your business is unlikely to go smoothly. Besides, it is a way to avoid big mistakes and secure financing.
Register your hair business legally
Operating legally will help you avoid a lot of troubles down the road. Therefore, you must have a business registration license right from the start. You will need to prepare some special paperwork for license applications, depending on the country where your business is based. You may need the help of a lawyer to deal with the paperwork and procedures.
Finding a hair manufacturer
A good manufacturer is a key element to your business’ success. And it’s totally not easy to find a reliable one in this fast-growing industry.
You can easily search for weave hair and hair extensions manufacturers on Google. But how to verify them?
- Make a potential list: Let make your potential list from the search results and then contact each weave manufacturer to ask them for more information. You should also gather the reviews and references from their partners to evaluate their reliability.
- Test the quality: The best way to do verify the real quality of the hair extensions is by making a sample order. Many manufacturers offer free samples for new customers. So, don’t hesitate to contact and ask them for a sample package.
- Visit the factory: If possible, let try to visit some potential hair manufacturers in person. This will be your chance to get the best evaluation and connect with more people from the manufacturer.
You may find many human hair manufacturers providing the quality you require. Yet, at the end of the day, your goal as a hair vendor is to maximize your profit. Therefore, let’s have a comparison of their prices. Then, pick a manufacturer that meets both your quality and price requirement.
Set up an online store
The Internet has made a major change in the way people shop for wigs and hair extensions. That’s why you should set up an online store to sell and promote your hair items. You can utilize a variety of marketing and sales strategies on an e-commerce website, giving your customers another reason to stay on your site and buy your hair products. Having an online store also makes it easier for your customers to approach you and make orders.
When creating your website, you should concentrate on the user interface, product photos, and videos. The more attractive your website is, the more visitors it will attract.
Search for a location
As a weave and hair extensions vendor, you will also need to find a location to stock your hair items. You can rent or buy a premise, but it’s necessary to calculate your budget first. You should so make sure that the rental fee of your warehouse is high, and it’s located not too far from your office. You should also consider your inventory while determining the size of your warehouse.
Get enough inventory
To prevent financial hazards, it’s better not to keep a huge inventory when you first start out in business. However, as your company grows, it is preferable to have a larger inventory. Your clients are likely to look for other distributors if you don’t have enough inventory upon their orders.
Purchasing too much inventory, on the other hand, will result in a significant amount of capital being locked up. Hence, let get just enough inventory based on your business statistics.
Set up a marketing campaign
Once you establish your business, it’s time to make people know what you are selling and boost sales. There are multiple online and offline marketing strategies, so it’s better to invest in different channels rather than focus on just a single one.
Your marketing plan should focus on your unique or special points to make your brand stand out from others. For example, if you are selling ethical human hair extensions, you can pay attention to how the hair is ethically collected, the quality of the hair, and your excellent services like fast delivery, instant support, etc.
Offer the best customer service
Customer service is one of the important factors that determine customer return rate. The way you support them will affect their shopping behavior. As reported by HubSpot Research, 93% of customers are likely to make further orders from companies that offer excellent customer service.
When supporting the customer, you should take notice of the following points:
- Always be courteous and professional
- Give them a quick response and pay attention to their issues and demands.
- Show your interest in resolving their problem, and don’t forget to keep them updated.
- Ask for their feedback and use it to improve your customer service
Provide incentives
Proving incentives is a great way to promote your customer loyalty. A customer incentive program will make your customers feel more appreciated, and connect emotionally with your brand. They will then make repeat purchases, give good reviews of your business, and refer your hair extensions to their friends.
You can offer your incentive program to the customers under different forms like reward points, coupons and discounts, freebies, buy one get one, etc.
So, above are our tips on how to become a hair vendor. Don’t forget that finding the right hair manufacturer will help your business go smoothly. And APOHAIR, the Ethical & Premium Hair Extensions Manufacturer is here to accompany you on the road to success.
