The false eyelashes market will reach $1.6 billion by 2025. You will need more than good salesmanship and business skills to wholesale eyelashes. This article will help you crack the art of wholesaling eyelashes.
Selling wholesale is a popular business model among entrepreneurs with huge growth potential. Wholesaling a promising product such as eyelashes can secure a way for a constant income.
By 2025, the global false eyelashes market will reach USD 1.6 billion with a 5.4% CAGR (Compound annual growth rate). Many entrepreneurs are plunging into the wholesale eyelash business for its promising growth. So, if you are looking for how to wholesale eyelashes, you might fall in one of the following categories;
- You have your products ready in your hands. Now you are pursuing wholesale eyelashes to retailers.
- At present, you are already selling eyelashes to consumers. Now you plan to expand into selling wholesale.
At both stages, you will need more than good salesmanship and business skills at the end of the day. This guide will help you understand how to wholesale eyelashes. Moreover, you will learn actionable tips to sign profitable deals with suppliers. Furthermore, after reading this, you will be able to secure good prices from buyers.
How to Wholesale Eyelashes in a Very Competitive Market
Knowing how to start wholesaling eyelashes requires strong financial resources and industry knowledge. By definition, you fall into a B2B business category. So, you will need an outstanding B2B marketing plan. There is a range of digital tools available today for successful marketing. Technology has also made sourcing and selling wholesale items faster and painless.
Technology would not do everything for you in your business venture. You have already decided on the item to sell wholesale. Here is how you will move forward to start a successful wholesale eyelashes business:
1. Understand the False Eyelashes Market
Successful wholesalers will know how to uncover a pain point. This is the key to survival in the booming market of false eyelashes. For that, you need to learn the latest trends and master your product. You also have to synchronize with the customer’s demand and understand the alternatives.
This all will help you narrow down your place of operation. Moreover, you can plan your marketing strategy according to ups and downs in the market.
2. Determine the Type of Wholesaling
Wholesalers are of two types. Merchant wholesalers comprise 80% of the wholesaling establishments. Agents/brokers hold 20% of the wholesaling establishments. Both need a specific approach.
1. Wholesale Agents or Brokers
As a broker, you act as a medium between eyelash manufacturers and buyers. You negotiate the transaction terms on a commission basis. But you can not take title to or possession of the merchandise as a wholesale broker or agent. you also have little say over the eyelash manufacturing company’s sales policies.
2. Wholesale Marchant
As an eyelash wholesale merchant, you will buy eyelashes from the manufacturers. You also take possession of the merchandise. Wholesale merchants will sell eyelashes to retailers, other wholesalers, and consumers.
3. Identify Reasonable Manufacturers or Suppliers of False Eyelashes
You see thousands of eyelash suppliers and manufacturers on your computer. But are they all worth dealing with? This is the most crucial part of your wholesaling business. So, you need to make sure that you and the eyelash manufacturer/supplier both get a good deal.
Moreover, prepare yourself for the long haul. Hence, consider working with a certified vendor or manufacturers of quality eyelashes. A few companies sell on the black market; working with them will affect you or your customers in the longer run.
4. Do not Forget to Complete Relevant Paperwork
Though you can work as a sole proprietor. It does not need registration with the government. But, you need a better business model to shield your assets from liabilities. A Limited Liability Company (LLC) will be the best option.
If you plan to operate your business in the USA or UK, professional LLC formation services can also help. You will get your LLC formed at a fraction of the cost. In the USA or UK, you can operate as a local or foreign LLC.
Moreover, the government requires eyelash wholesalers to fill certain forms. The documents often include;
- An eCommerce business license,
- A reseller’s permit,
- A wholesale license and wholesale agreement
- An Import License if you plan to import eyelashes from a country other than your home country
5. Develop an Outstanding Sales and Marketing Plan to Wholesale Eyelashes
It is very hard to get potential customers without an effective strategy of branding. First, separate your marketing budget before getting started. A wise approach is to match your wholesale marketing efforts to your budget.
At the beginning of selling eyelashes wholesale, a better approach would be;
- Low-cost DTC marketing
After generating enough revenue from wholesaling false eyelashes, increase your marketing budget. Include advertising and eCommerce PPC in your marketing strategies.
6. Revolutionize Your Retail Efforts
As a new eyelashes wholesaler in the market, you need to organize your retail efforts. Retail stores offer visibility and traction. Research stores that accept new vendors matching your target audience’s pain points. Make appealing offers to increase retailers’ likelihood of working with you.
7. Get a Warehouse if You Need
If you plan to dropship without holding your inventory, then you don’t need a warehouse. But, if you choose to maintain your eyelash stock, acquaint yourself with warehousing. In any case, make sure to invest in hassle-free and quality packaging and shipping teams.
We hope this article has helped you know how to wholesale eyelashes. Now, the sky is your limit. We recommend you be patient and conscientious while developing relationships with retailers. Be diligent in perfecting your sales process, and delivering value to your customers. Also, never compromise on the quality and get top-quality eyelashes. This all will lead to more happy customers. Once you have happy customers, no one can beat you in the market.