How much money can you make selling hair

The wig business is one that may be overlooked. The wig industry is booming around the world. Wigs used to be synthetic wigs from local beauty-supply stores, but now it's not unusual for beauty-conscious women to pay hundreds or thousands of dollars for a single human hair. The first thing we want to know before starting a hair business is how much money we can make. Let's do the math together.

Hair retails for an average of $150 to $300. If you sell one a day, that's between $54,750 and $109,500 a year. If you can sell two a day, you can drive your sales into six figures. Combined with retail profit margins of around 50%, you can roughly calculate annual earnings.

If you're a good hairstylist, it's even more perfect. You can definitely double your income. Because you can charge for a range of hair care services. On average, African American women are willing to spend $300- $500 on their hair and then $100- $300 on their hair and styling. You can charge more if the client wants to have a custom color or wig made.

Of course, it's not always easy to get started, and typically when you're starting out in your hair business, it can take months, a year or more to generate revenue every day. The main reason why many business owners fail is that there is no good market. After opening a store, we should use all online and offline resources to promote and publicize. Here is a focus on the online promotion.

The first kind of online promotion, having a well-designed website is very important. A website can enhance your brand image, and a website can make it easy for your customers to place orders. With the help of our website, customers can find their own product descriptions and even place their orders during our off-hours.

The second kind of online promotion, you can also go to social media to promote. Make your business accessible to more customers on platforms like Instagram, Facebook, and YouTube. Clients can see more photos of your hair and service. If you have a link to a website in your social media account, your customers can simply click the link and buy their favorite bundles and wigs.

Learn to promote the operation, you also learn to package their own products, to build their own brand. In the wig business, you're selling an idea of beauty, not just hair. Branding and packaging are the best ways to add to their shopping experience. If you have good hair branding and packaging, you can add another 30-50% to the price.

The next step is to learn how to price things properly. Never go low.

Competition in the wig business is fierce. It would be unwise to rely solely on low prices to attract customers. This will greatly reduce your profit margin. If there is no money to be made, I believe the service level will also decline, entering a vicious circle. Product quality and service quality are what most customers value most. Instead of worrying about your price, optimize the quality of your product and improve your brand image.

Above all, pay attention to promotion, pay attention to brand packaging, pay attention to reasonable pricing, and you can make enough money in the wig industry!