The New Year has always been the time for dreams and resolutions. As the new year starts, we begin to seek new and improved versions of ourselves and see this as an opportunity for growth. If starting a beauty brand has been on your bucket list, now might be the best time to take it into action, and turn your dreams into reality.
Whether you're a beauty enthusiast, a budding makeup artist, or an entrepreneur looking for an idea, starting your own e-commerce beauty brand is a promising adventure in 2024.
The recipe for a successful beauty brand
It’s projected that the global beauty industry will be worth $756 billion by 2026. In the fast-paced digital landscape of 2024, starting your own skin care and makeup business can be a challenge, especially in a crowded market. But with the right products and resources, a unique and impactful branding, and a supportive community, you can turn a small business into a beauty empire.
How to launch and grow your custom branded beauty business
- Know your niche market and target audience
- Don’t be scared to venture into untapped territories and build something new
- Develop your product line
- Legal and financial structure
- Start marketing
- Don’t forget about the logistics
- Focus on consistency, growth, and customer loyalty
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Know your niche market and target audience: Learn who they are, what they like and dislike, find out what informs their decisions, what they do for a living, what they do during their free time. This may all sound excessive but these are little things that will help you offer the right products and create campaigns that best target them.
NOTE: Don’t be scared to venture into untapped territories and build something new. A new or uncommon market can be scary, but it can also be an opportunity. Use everything you learned from your previous market research and find areas with potential for growth. Maybe you want to tap into men’s skincare, or only offer vegan products. Don’t be afraid to cater to a smaller niche.
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Develop your product line: Now that you know who your target audience is, it’s time to develop your product line. Find private label manufacturers or suppliers that you can trust. Create products that will solve your customer’s problems. Make sure that these products are properly certified and meet regulatory standards.
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Build a strong brand identity: How you present your brand may make or break your business. Build a brand that resonates with your customers. From colors to typography, every small detail is important. Tell your brand’s story in the form of logos, website, packagings, and product photography—these are the first few things that your audience will see as they get to know your brand.
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Legal and financial structure: Yes, even small businesses need to pay attention to this as it will save you from any headaches in the future. Visit your government's website resource for small businesses and find out what you need to get your business running. From registering your business to tax accounts, there might be a few that you need to set up before you launch your brand.
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Start marketing: Develop a comprehensive marketing strategy that is both engaging and informative, and utilize various channels to establish your brand. Make sure you have a consistent online presence and a solid community. Collaborate with content creators and influencers, and only use digital platforms that best align with your brand and audience and focus on growing them.
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Don’t forget about the logistics: Find a warehousing, fulfilment, and shipping process that works for you. This entire process doesn’t have to be complicated but it can be time consuming, and it may take a few trial and error to be able to nail this to a t.
- Focus on consistency, growth, and customer loyalty: So you launched your brand and have great products and marketing strategy. What’s next? Staying consistent, finding new ways to engage and inform your audience, and keeping up with the latest trends are only a few ways to grow your brand. Always pay attention to your metrics and customer feedback, use that information to find any gaps needing improvement or areas where you are thriving, and set measurable goals. Growing a successful business is a mix of consistency and being able to adapt.
Why choose Blanka?
From product research and development, to warehousing and fulfilment services, Blanka eliminates a lot of these steps for you. We make it easy to build your brand so you can focus on other important things like growing your business. On top of that, using Blanka is also a fast and risk-free way to start our brand with no MOQs and zero commitment.
