Are you thinking of a niche you can start in the beauty industry? Starting a lip gloss business is an ideal niche you should explore. Here you will get 9 promising lip gloss business ideas you can begin.
Introduction To Lip Gloss Business Ideas
Almost every girl/woman slides in a lip gloss in her purse or handbag now and then.
Most ladies may not wear heavy makeup when they go to work, school, parties, etc.
But most of the time, a majority use lip gloss on their lips to make them moisturized and not chapped.
Lip gloss is an independent beauty product in demand globally, making its business very profitable.
Entrepreneurs who have ventured into the beauty world via this business are seeing heights of success in recent years.
The lip gloss market is expected to reach $10 billion by 2024.
According to statistics, in 2020, over 122 million women used lip gloss in the U.S.
In addition to the number, it is expected to increase by over 2 million by 2024.
You can also get your share of the market value if you start your lip gloss business.
9 Lip Gloss Business Ideas
If you have an entrepreneurial mindset and are a lip gloss lover, you should consider the following lip gloss business ideas.
There are not so many lip gloss business ideas.
However, they are unique and very profitable.
But you can choose the perfect one for your skills and interest.
Here are the lip gloss business ideas:
1. Lip Gloss Manufacturer/ Launch A Lip Gloss Line
Launching a lip gloss line is one way of becoming an entrepreneur with lip gloss.
Starting this business will get you to your financial destination so long you go about it properly.
You can beat your competitors by producing a unique lip gloss, like adding scent or glitter to your lip gloss.
Furthermore, your capital investment will determine where you can start the business.
If you start on a small scale, you can produce from home.
Also, if you decide to start on a large scale, you will need to rent space.
Find the right sources to get your raw materials- you can shop from a physical market or visit an online store, like Amazon.
Amazon has all sorts of ingredients like tubes, colorful cosmetic jars, beetroot powder, sparkle, and labels.
In addition, you can shop for a chemist expert that will help you create a unique formula for your lip gloss products.
Overall you should master how lip gloss is produced.
Meanwhile, there are a few steps you will need to follow before you can start a lip gloss manufacturing business.
This will be discussed in the later part of the article.
2. Lip Gloss Distributor
If becoming a manufacturer does spark your interest, you can help manufacturers get their products to their consumers by being a distributor.
Becoming a lip gloss distributor can be very profitable.
The skills you need for this business are marketing and sales strategies.
If you have these skills and know the best way to use them, this business can become your money-making machine.
Furthermore, you will have the opportunity to distribute more than one brand.
Here are some reputable companies that produce lip gloss;
- Mary Kay.
- Mia Cosmetics.
- Black Up.
- Merle Norman, and so on.
Your target will be cosmetic shops, local stores, and supermarkets.
Also, you can start the business depending on your scale of preference.
You could rent an empty warehouse and start on a larger scale.
Or you use your garage to store the products.
Meanwhile, you will need a form of transportation to deliver the lip gloss products when required.
3. Open Lip Gloss Local Store – Lip Gloss Business Ideas
Another lip gloss business idea is opening a local store for lip gloss business.
You can also start from a small scale and expand it as the business grows.
But first, you will need money to settle all startup expenditures.
You will need a store.
When renting the store, you will have to consider the location of the store.
Proximity is important while deciding your store choice.
Furthermore, you need to settle set-up costs such as decorations and displays.
Rent and utility fees are also included.
In addition, you will need to advertise your business to get more patronage.
The way you relate to customers is also important to your business.
Even though you’re opening a local store, have a website to promote your store.
This will help to deliver to neighbouring towns when they order your products.
Finally, promote your business with other businesses and get involved in the local community.
4. Sell On Social Media/ Social Media Influencer
Social media has been one of the best platforms to promote and sell beauty products.
According to research, there is a massive number of beauty bloggers on Instagram, TikTok, and YouTube that attract millions of users through product reviews.
If you are a social media freak, you should consider selling lip gloss on social media platforms.
You can sell more if you have a large follower base on social media platforms.
However, there are two ways to earn money in this lip gloss business.
Firstly, you can get paid through sponsorship.
Various brands are ready to pay influencers to promote their products.
All you need to do is to provide your media kit, which includes the number of your followers, engagement rate, demographics, bio, and a selection of your best photos.
Your sponsors can pay you $300 or more per post.
However, there are some marketplaces you can visit if you need sponsorship.
IZEAx, Popular Pays, and InfluencerHer Collective are one of the best that match brands with influencers.
The affiliate post is the second part.
Affiliate posts are the other way to make money on social media by promoting lip gloss.
In this section, you get a commission when a lip gloss is purchased through your unique link.
You can join different affiliate programs to promote the lip gloss business; Sephora, BabeBox, M.A.C. Cosmetics, and so on.
You can start a blogging business if you have a knack for writing.
You can start a personal blog on lip gloss products.
However, you will need a good number of audiences before you can start making money from it.
Also, the number of audiences you will have depends on the quality of your blog post.
This means you should write and publish quality content to get more views.
You can write reviews on lip gloss.
Also, choose to write on the process of lip gloss, client service, special offers, and so on.
6. Sell On Online Stores
Since we are in the technological age, online businesses are prevailing as most people are online.
You can use online marketplaces to sell lip gloss products without leaving your comfort zone.
However, you will need more positive reviews to keep getting orders for your lip gloss products.
This will help you get your products in a higher position on the catalog.
Furthermore, Etsy and Amazon are among the best online platforms to start your online store.
Therefore, you can create an account with either of them and sell your products online.
7. Lip Gloss Consultant
If you are the type that likes helping people to get what they want, then you should consider this business idea.
You could help customers select the best lip gloss product.
Furthermore, you can work as a beauty consultant in a retail store.
You act as the middleman between the customer and the lip gloss brand.
In addition, you are not only to make sales.
You are to ensure good customer service and satisfaction.
8. Lip Gloss Product Tester
You should consider this business if you have a knack for reviewing products before they reach the market.
As a product tester, you give feedback to the manufacturers or researchers after analysing the products.
You will observe lip gloss’s color, texture, and durability.
This may take days or weeks.
Afterward, you forward your opinion about the product to your employer, who could be the product manufacturer.
Meanwhile, your feedback will determine if the product should be improved more or not.
9. Create A Subscription Box – Lip Gloss Business Ideas
Creating a subscription box is another lip gloss business idea that is profitable.
With this business, you are sure to make a passive income from the number of subscribers you have.
In this type of business, you will be the one to compile the different types of lip gloss your customers want.
You could have weekly, monthly, or yearly subscribers.
Furthermore, you can develop different themes for your lip gloss subscription box.
It could be general lip gloss, natural lip gloss, vegan lip gloss, or cruelty-free lip gloss.
However, you will be the one to source the lip gloss products you are to deliver.
Also, you will determine the pricing and shipping of the lip gloss subscription box.
One of the best online platforms for this business is Cratejoy.
These are the various lip gloss business ideas.
Let’s move to how to get started.
Steps On How To Start A Lip Gloss Business
Before you follow the steps below, you should make sure that the business you choose is the right business for you.
Every business has its pros and cons, likewise the lip gloss business.
The lip gloss business could have low startup costs, high-profit margins, and flexibility.
Also, it could be fun doing since you want to make yours unique.
Meanwhile, you might need to ask yourself the following questions.
- How will your lip gloss product be unique from others with the competition in the market?
- How will you be able to find a reliable supplier or manufacturer of lip gloss products or materials?
- Do you have enough capital to invest in the business, even if it’s going to tie your money down?
Your response will determine if you can move to the next step.
Determine Your Lip Gloss Products
Furthermore, you should research the different types of products in the market.
This will help you determine the kind of lip gloss you want.
You should also determine the price you will charge for your lip gloss products.
Identify Your Target Market
You will also need to define who your products are meant for.
If you are producing or selling glittery lip gloss, you will target the younger crowd, while the one without glitter could be for older customers.
Location is also important for your lip gloss business.
Your location will determine your sales if you want to be a producer or manufacturer, influencer, seller, or distributor.
Register Your Business
You should also register your business to claim the rights of the company.
You should use a proper name to show your potential customers about your business.
However, if you can’t decide on a business name, you can use a lip gloss business name generator and choose from it.
Obtaining Licenses And Permits
You will need to obtain the necessary licenses and permits to sell your products since they are physical products.
Furthermore, you will have to decide if your business will be a sole proprietorship or a corporate business.
Depending on where you live, your lip gloss products should meet the required cosmetics standard.
Ensure you have the legal documents so you won’t have legal issues in the future.
Fund Your Lip Gloss Business
Without capital investment, your business might not function.
Even if you are an influencer, you will still need to subscribe for an internet connection.
This is more like investing in your business.
You can get a bank loan if you don’t have enough funds.
However, this depends on the lip gloss business you want to start.
Finally, you should have a good and well-planned marketing strategy.
This will help you promote your business.
You can also make use of social media platforms to promote your business.
Conclusion On Lip Gloss Business Ideas
As you can see, there are different lip gloss business ideas you can start.
Also, you can choose where and how you want to start the business.
The lip gloss business is very profitable.
However, non of it is a get-rich-quick scheme.
Therefore, you should invest your time and work hard to get your deserved profit.
If you are interested in starting a lip gloss business, research it thoroughly.
Also, you can put the steps discussed above into use.
We’re rooting for you!