If there is one industry that is secretly growing in popularity around the world, it has to be the industry of human hair extensions. Hair extensions used to be synthetic wigs purchased from a local beauty supply store, but nowadays it is common for beauty-conscious women to spend hundreds or even thousands of dollars just to obtain some virgin human hair from a reputable source. In other words, if you're thinking about starting a hair business and are wondering how much money you can make, we'll show you how to make six-figure sales by selling hair extensions.In the event that you can make two sales per day, you will be making a net profit of six figures. As a hairstylist, your income will only increase by a factor of two because you will be able to charge for services such as knot bleaching, custom colors, installation and styling. On average, African American women are willing to spend $300-$500 just to get their hair done, and then another $100-$300 to have it installed and styled after that. Custom color or wig creation can be charged at an even higher rate if the client requests it. The general retail rule is 50%-100% of the purchase price. If a wholesale hair vendor charges $50 for a bundle of hair, you can sell it for $75-$100 or more on the open market.
How to sell hair extensions all over the world
Even if you have a legitimate “business presence,” such as having a storefront, it may take months, a year, or even longer for you to generate consistent revenue. Imagine owning a business, but no one knows what you sell because you don't advertise! That will not assist you in making money. Having a website is essential for many hair businesses, but the owners fail to recognize the importance of having one. However, a well-designed website costs significantly less than a storefront, and it can serve to establish the legitimacy of your hair company in the eyes of potential customers. It also makes it simple for your customers to place orders at any time of day or night. You can take orders and earn money while you sleep if your website is lightning fast! ! Hair Extensions with a recognizable brand.Branded Hair Extensions used to accept orders over the phone rather than through a website. However, the amount of time and money we had to spend manually processing each order began to significantly reduce our sales. With the help of our websites, customers can now look for product descriptions on their own and place orders at any time of day or night, including during our non-business hours. We could wake up to tens of thousands of dollars in sales, and all we had to do was meticulously prepare all of the shipments to go out.Although social media is not the best platform for selling hair extensions, it is unquestionably the best platform for advertising your hair business! Customers can learn more about your company by using social media platforms such as Instagram, Facebook, and YouTube. Using paid advertisements and influencer marketing, you will be able to create an online community for your company or product. Additionally, having a strong social media presence for your hair business will increase your sales. Additionally, customers will be able to view additional photographs of your hair and service. If you have a website linked to your social media accounts, your customers will be able to shop for their favorite bundles and wigs by simply clicking on the link provided.You should be able to recoup between a third and a half and double the amount you paid for the hair. One thing we'd like to point out is that high-quality branding and packaging can assist you in increasing the prices of your hair products. Have you ever been pleasantly surprised by the high level of craftsmanship that goes into a product's packaging? The beauty industry is a good place to make money selling hair extensions. Not only are you selling hair extensions, but you are also selling a concept of beauty. When your customers wear your hair extensions, you want them to feel pampered and confident in their appearance. We have to admit that branding and packaging are the most effective methods of enhancing your customers' shopping experience with your company. It is likely that you will be able to increase your prices by 30%-50% if your hair brand has attractive branding and packaging.Never undercharge for your hair, and never overcharge for your hair.Yes, there is a great deal of competition in the world of the hairdressing industry. We are aware that some hair salon owners believe that in order to survive in this industry, they must undercut their competitors' prices. That is the single most detrimental action you can take to your company's success. If you want to offer your customers the most value for their money, you should price your products fairly. The 50%-100% retail rule is merely a general guideline, and not every company is required to adhere to it in order to succeed. While Beyonce's hair stylist Alonzo Arnold charges $1500 for a wig, while the average price for a wig is $200-$500, here is his track record in selling wigs.We are not advocating that you charge $1500-$2000 for a wig; after all, not everyone has access to a celebrity hairstylist who can pre-style the wigs before they are delivered. However, there are a plethora of companies that charge more than 200% for profit. But are people actually purchasing? They are, without a doubt! Instead of obsessing over your prices, consider what you can add to your brand that will distinguish it from the competition. Branded Hair Extensions offers low-cost custom coloring and wig-making services to our wholesale clients so that they can pass the savings on to their customers. This can increase the monetary value of the hair that you are marketing.Now that you've learned how much money you can make selling hair extensions, it's time to get started. We are going to get the essentials that you need to set up your hair business so that it can take off the right way, rather than the “DM to purchase” method of doing things.