Struggle with beauty Business Start up! Am I ready NOW?

The 18 major Question you must answer before starting up Your new beauty Start up Business !

You may be holding your head every day, Suffering Insomnia, Frustrated & over thinking!
You need to achieve your dream, feel the success, looking for a new source of income. Each time you watch the success stories of brands you stand up still & decide I NEED to create my own success Story my self .

Let me tell you all those are good signs, being motivated & triggered enough to ride the challenge & create your success story now!
BUT, This is not enough!

Building up your business is not so easy , yet not impossible. It's your own building where you MUST put enough time & study before building it up. Must have a complete picture how would it looks like ? How many floors, How would it looks like ( Modern , classic ), What colours will You use? What facilities would it have ? How long would it take ? Where I will build it ? Do I have the enough MONEY, TIME, QUALIFICATIONS, MAN POWER, TOOLS to Build it up?

Not Answering all those MAJOR questions may end up either struggling during building, building up your home with a technical problem where you can't use it efficiently & need to rebuild it, Struggle with the expenses & look around what should you do now!, or having it by the end the home that you wasn't dreaming of no more.

Same is YOUR BUSINESS! It's your secure & Shelter . You need to study it very well , take your time & study deeply before you press the ON bottom.

For any business startup there are MAJOR questions , You MUST answer them or Acquire who can answer those queries.

I Suffered a lot my self answering those questions before each project. IT REALLY TAKES TIME !
YET, you must answer those questions before starting us. Being my self in the beauty Industry for more than 15 Years, being able to start up more than 7 projects, This gave me an edge & understanding how a business Start up!

I won't claim all over my life success, I faced lots of struggles & mistakes BUT I acknowledged that those struggles made me stronger , more resistant & rigid.

I would like to share with you the MAJOR questions you MUST answer before starting up your business , It's your mission answering them either your self or asking professionals . The Beauty industry is really promising , Interesting & Joyful but still it's the Deep See that is full of joy but still full of Sharks ! You need to go, dive & enjoy it but still you need to avoid the Sharks that may end up your life.

1. What best business model fits my project?
   
2. Should I go for an easy business model or sophisticated one?
3. Where should I base my project?
4. What will I sell?
5. How would it looks like & presented?
6. How much would I sell it?
7. is it really UNIQUE? Why would my client buy it?
8. Does it solve a real problem?
9. Who are my clients?
10. How my clients behave?
11. Where are my Clients?
12. How can I reach my clients?
13. How much should I fund my business ?
14. What profit margins should I make ?
15. Do I have the enough Time & effort to manage it all my self ?
    
16. What marketing tools will I use(Online -Offline activities )? ( Is it reliable, cost effective, approachable?)
17. How can I make my Business well recognised, Differentiated , Unique ? ( Let's call it positioning )
18. How I like the client see & perceive me & my business ?

We will start answering those questions one by one in a series of Blogs as each question will have lot of details to discuss !
lets Start Today with first question.

1-What is the business model of my project?

Starting Your beauty business have different options & aspects. You have to understand how the business flows, The supply chain channel, business requirements, What market gaps there are in the market ?

Those entrepreneurs Who have been in the beauty industry knows well how to answer that question , They understand the market behaviour very well as well as all business aspects needed, This is where you can allocate your business model within .

Lets list some of the potentials & options for having your Beauty Business Start Up:

1. Brand Owner : Like CLINIQUE, LOREAL, ELEMIS, THE BODY SHOP, LUSH..etc having your own product range and distribute through multi channel of sales .
2. Branding agency : Setting branding strategies & tactics for brands to be well recognised in short period of time & recognised efficiently!
3. Graphic designer : Setting up logos, Fonts, posts, brochures, label designs eligible for the beauty market.
4. IT services: Creating : Creating platforms for brands as Mobile applications, websites ..etc
5. Distributor : Acting as an agent for brands in specific territories or countries or specific channels of sales.
6. Influencer : Connecting the Brand with end users using your network & connections either directly or online.
7. Supplier : Of raw materials.
8. Manufacturer : Production, filling, labelling of the finished products.
9. DATA Service centre : Providing statistics & market analysis for brand Owners & start ups.
10. Exhibitions organiser : Setting up events or EXPOs putting Sellers & Buyers in connection.
11. Spa Ownership
12. Beauty Salon Ownership
13. Professional Aesthetic
14. Beauty Blogger
15. Social media marketing agency
16. Lead connection company : setting tactics & strategies putting the seller with potentials buyers by follow up strategy by email, messages, Faxes ..etc
17. logistic agency : Handling Products delivery & Pick ups nationally or internationally.
18. packaging supplier : Glass ware & plastic ware suppliers for different product forms.
19. Printable agency
20. Copywritter
21. Beauty Consultancy
22. Formulator or a chemist
23. laboratory service provider
24. Recruiters : provide well trained staff for companies either by training or hunting .

It's Your mission now to pick up the business model that is matching your capabilities , Potential, Experience & PASSION.
Putting in consideration the market size, competition & how much market share you believe & expect to Acquire.

Although it's a hard work but yet it's a journey full of joy !

To be continued, Wait for the rest of the series & discussing the rest of the 18 Major Questions.

I will be happy getting any comments, recommendations from you.
If you like the material, share it . I will be happy spreading my content and get others feedback. This is to enhance the content, know more what you are looking for & share knowledge that may be beneficial for all of us & Share success!


Hazem Elsawaf
Hazem.elsawaf@7Hopes.co.uk