How do I start a Wig business? How do I start my hair extension brand? How much do I need to start a Wig business? If any of these questions seem to be bothering you, this article will provide full answers to all your questions. All you need to do is to keep reading!
Wig Business is one of the most profitable business ideas in Nigeria and outside the country. Almost every woman wears a hair extension or wig these days. Many women can not do without wearing one. Some wear it to improve their aesthetic look while some wear it to add to their natural hair length and style.
There will always be a high demand for these hair extensions. You can just take advantage of it to start a wig business or hair extensions business and make money for yourself.
Even though there is a lot of money to be made in this business, you need to know different types of wigs, weaves, and other hair extensions. This is with their color, length, and differences.
Apart from that, the wig business is lucrative as it’s easy and requires little capital to start. Below are steps you can take to start a wig business or hair extensions business anywhere in the world.
Steps To Start A Wig Business/ Hair Extension Business
1. Go For A Training
Before you go into any business including starting a wig business or hair extensions business, ensure you know how it is run. It’s only sensible to know how the business works before investing your money into it.
Before you start a wig business or hair extension business, ensure you can identify and differentiate hairs. Know the various types of hair, length color as well as inches.
You should be able to distinguish between natural and synthetic hair at worst. For instance, synthetic hair is usually coated with silicone which makes it shone brightly. It’s usually less expensive and can last within 1 to 3 months. The disadvantage is that it can not be styled, dyed, or heated else it will become brittle. While human hair is more like natural hair. It can be styled, dyed, and even heated. Even though it’s more expensive but it can last for a year.
So, we advise you to get trained to learn the ropes of selling wigs before getting started. You can enroll in training for these or work with wig sellers to gain knowledge.
2. Do Your Research
After gaining mastery of the wig business, you should also research what your target audience needs and who they are. You should understand what type of hair they need and why they buy that type of hair.
Do they buy Lace frontal closure or another type of wigs, weaves, or human hair? Just ensure you find out before stocking up. Take into consideration your competitors also; find out what they are doing and their hair prices.
It’s during all this research and training, you will understand and know the amount to start with.
3. Find Your Capital
The next step is getting the needed Capital to start your business. Always bear in mind that you can start small and still be successful. But in case you do not have any capital to start, you can dropship hairs. Just find a reliable wig seller to dropship for, start advertising on her behalf while adding your profit. You can do these to make money until you can start your own wig business.
4. Buy From Genuine Supplier
Once you have the required capital to start a wig business or hair extensions business, you can then look for a genuine supplier to buy from. One of the reasons why we recommend that you get good training from those that are already in the business is to be able to identify fake hairs. When you make your researches well by networking with wig sellers, getting contacts of genuine suppliers won’t be difficult.
Ensure you buy from cheaper sources by importing from Asia, China, and India if your capital is quite huge. But if you are starting with little money, you don’t need to import. Visit the nearest local markets in your area or country and find wholesalers or suppliers to sell to you at a cheaper rate.
5. Start Selling and Promote Your Business
The next step is to start selling wigs and hair extensions while making your money. If you have some money left after stocking up, you can also buy hair accessories like dyes and other hair related products.
Start promoting your business to get patronage using social media platforms. You can also operate physically by informing your colleagues at work, church members, and course mates. There is also an opportunity to build an online website or store for your business.
Starting A Wig Business or Hair Extension Business
With all these listed steps, you should be able to start a wig business or hair extensions business successfully. The business is lucrative as long as you find your way around it. All you need is to put in more effort, ensure your price is moderate and cost-effective and Keep promoting the business to make more money.
If you find our guide on how to start a wig business or hair extensions business helpful, kindly share with others. Thank you!