Opportunities in cosmetics retailing are plentiful, including working from home selling via social media or opening up a high-street beauty store selling big name brands. This is a massive market – £9.38 billion worth of cosmetics are purchased each year in the UK, which is the equivalent of 2.6 billion packs.
In fact, the target market is getting younger and now includes more men, as the British grab the chance to feel glamorous with innovative and creative product offerings. This has been further stimulated by the arrival of video blogs to demonstrate techniques and effects. And of course, celebrity modelling and endorsement plays a role. So if you are considering becoming your own boss, you may be asking yourself how to set up a cosmetics business.
Though the beauty industry appears largely “recession proof” there is evidence that people are shopping around more, looking for value for money. Setting up your own independent cosmetics retail business is tough – not least convincing potential customers to part with their hard-earned cash.
If you choose the cosmetic franchise route, you are your own boss but can benefit from established branding such as Lush Cosmetics, FM Cosmetics & Fragrances or KIOMA makeup. They are all looking for new stores to support. Or you could find a niche franchise partner, such as PHB’s ethical beauty network.
Apart from having branding that customers recognise – and actively seek out – a cosmetic franchise offers other benefits. This could include help in finding a location for a physical store, or in the form of a ready-made website for online sales. A cosmetics franchiser may also provide training, and help with insurance and legal compliance.
Central to it all though, is a reliable, reduced priced supply of the latest cosmetics people want to buy. Ready to create the foundation of a successful cosmetics start-up?