No, not at all. In fact, opening your own wholesale beauty supply store is a relatively simple process, which only needs a few steps to complete. Your biggest challenge may be to find a location for your store and get the funds to hire employees, purchase inventory and pay other start-up costs. Follow the steps listed above to help you get started.

 

 

This is a very important choice because your wholesale beauty supply store name is your brand and it will last the lifetime of your business. Ideally, you should choose a name that is meaningful and easy to remember. Here are some suggestions for choosing a name for your beauty store:
Make sure the name is available. Check the database of names and trademarks you want and the list of registered business names in your state to see if they are available. Also check to see if there is a suitable domain name available.
Keep it simple. The best names are usually the ones that are easy to remember, pronounce and spell.
Think about marketing. Think of a name that reflects the brand you want and/or the focus of your beauty store.
Your business plan should include the following sections:
Executive Summary-This section should summarize your overall business plan so the reader can quickly understand the key details of your beauty store.
Company Profile-This section tells the reader the history of your salon and the type of salon you operate. For example, does your salon cater to professionals or the general public? Will you be selling online through an e-commerce store or just in a brick-and-mortar location?
Industry Analysis - Here you will record key information about the beauty products industry. Conduct market research to document the size of the industry and the trends affecting it.
Customer Analysis - In this section you will record who your ideal or target customers are and their demographics. For example, what is their occupation? Do they fall into a specific income bracket? What do they look for when buying beauty products?
Competitive Analysis - Here you will document the major direct and indirect competitors you will face and how you will build a competitive advantage.
Marketing Plan - Your marketing plan should include the 4p's: product, price, promotion and placement.
Product:Identify and document the products/services you will offer
Price:Document the price of the product/service
Location:Where will your company be located and how will this location help you increase sales?
Promotion:What type of promotion will you use to attract customers to your beauty store? For example, you may decide to use pay-per-click advertising, public relations, search engine optimization, and/or social media marketing.
Operations Planning - Here, you will identify the key processes needed for day-to-day operations. You will also determine your staffing needs. Finally, in this section of the plan, you will create a projected growth timeline that shows the milestones you hope to achieve in the coming years.
Management Team-This section details the background of your company's management team.
Financial Planning - Finally, the financial plan should answer the following questions:
What are your start-up costs?
How does your beauty store make money?
What are your projected sales and expenses for the next five years?
Do you need financing to start your business?
1) Sole Proprietorship
Sole proprietorship is a business entity in which the owner of the beauty store and the business are the same legal entity. The owner of a sole proprietorship is responsible for all debts and obligations of the business. The establishment of a sole proprietorship does not require any formalities and is easy to set up and operate. The main advantage of a sole proprietorship is its simplicity and low cost of establishment. The main disadvantage is that the owner is responsible for all the debts and obligations of the business.
2) Partnership
A partnership is a legal structure that is popular among small businesses. It is an agreement between two or more people who want to open a beauty store together. The partners share in the profits and losses of the company.
The advantage of a partnership is that it is easy to set up and the partners can share in the profits and losses of the business. The disadvantage of a partnership is that the partners are jointly responsible for the debts of the business and it is difficult to resolve differences between the partners.
3) Limited Liability Company
A limited liability company, or LLC, is a business entity that provides limited liability to its owners. This means that the owner of the LLC is not personally responsible for the debts and liabilities of the company. Advantages of a salon LLC include management flexibility, taxation through (avoidance of double taxation, as described below), and limited personal liability. Disadvantages of an LLC include lack of availability and self-employment taxes in some states.