In the coming years, the lash extension industry is projected to experience significant growth, with an expected market value of $2.4 billion by 2031. This expansion is driven by the rising demand for lash services and products, as more individuals seek ways to enhance their overall appearance. If you’re interested in opening a lash extension business, read on below.
What is a lash extension business?
A lash enhancement enterprise offers a beauty service focused on enhancing the appearance of natural eyelashes by delicately attaching individual synthetic or natural hair fibers. Through meticulous application using adhesive, each lash extension is applied one by one, resulting in a fuller and more striking lash line. These extensions can be customized to cater to individual preferences, ranging from a subtle, natural look to a bold and dramatic effect.
Establishing a lash extension business necessitates a high level of expertise and meticulous attention to detail. A skilled and experienced lash technician is essential to ensure the safe and accurate application of extensions. Depending on the desired outcome and the number of lashes to be applied, the process can take several hours.
Lash extension businesses can operate from a salon or provide a mobile service, enabling technicians to travel to clients’ residences or other designated locations. This flexibility appeals to a diverse clientele, including busy professionals, brides, and bridal parties.
8 tips for starting a lash extension business
1. Form your Legal Business
When setting up a lash extension business, you’ll need to think about what business structure will work best, including registering your company with the appropriate authorities, both locally and nationally.
Many would-be company owners struggle to make sense of the differences among an LLC, a sole proprietorship, a partnership, and other business structures, much alone settling on one.
A company incorporation service can help you determine the best business structure for your company based on factors like the level of liability protection you require, the laws of the state in which your company will operate, tax filings requirements and the type of license you will need to legally sell your service and products.
In the case of lash extension businesses, we advise you to choose one of these legal forms:
- An LLC might have a single owner or several owners.
- A corporation
In the U.S, limited liability companies (LLCs) are favored over sole proprietorships because their owners are shielded from personal liability for corporate debts and obligations.
Naming your lash extension business
The process of naming your lash extension enterprise may be a lot of fun. Create a list of terms that best describe your company’s values and goals. Then, put those words to use in creating new, meaningful two-word and three-word combinations.
Try mixing and matching words that signify the same thing to hear what you come up with. Last but not least, check online to see whether the company name you want to use has already been taken.
2. Setup your Business Bank Account
Depending on your needs and the amount of money you want to deposit, there are different kinds of business accounts you can set up for your lash extension business including:
- Checking Accounts: The most typical form of business bank account. Opening a company checking account is simple and provides a number of advantages. Having a bank account means you may quickly and simply add or remove funds as your needs change. You may use your checking account to pay bills and vendors by writing checks.
- Savings account: With the return you may receive on your savings, it’s a terrific way to build up a rainy-day fund for your lash extension company. Savings accounts, on the other hand, may have withdrawal restrictions and provide lower interest rates than checking accounts.
Before deciding on a bank account, it’s a good idea to do a comparison of different business banks for features and fees, including FinTech banks with very competitive benefits of no monthly fees, no minimum balances and an unlimited number of transactions compared to traditional high street bank offerings.
3. Organize Your Accounting, Taxes & Credit Card reader
Setting up a reliable accounting system will allow lash extension business owners to keep tabs on all kinds of financial transactions from sales (income & invoicing), purchases (expenditure), liabilities (bank loan funding) to taxes due to the IRS or similar.
The books for your lash extension business can be organized in a few ways:
- Online accounting software, including QuickBooks and Wave, are available.
- Get a professional accountant to assist you
If you choose to handle things on your own, pick a system that is intuitive and simple to use. When your accounting system is ready, you can begin recording your earnings and spending. If you want to save money, you can now see exactly where it’s being spent meaning future budgeting is simplified as a result.
Spice business owners should be careful to maintain a consistent schedule of accounting maintenance. This calls for putting time in your calendar on a regular basis to check your books and make any necessary changes. While this may appear to be a lot of extra effort, it will ultimately save you time and energy.
Before you can start your own company, you have to get yourself registered for a number of different taxes, both federal and state, first. Your business has to submit an application for an EIN (Employer Identification Number), which is a simple process and is free of charge. Doing so will allow you to register for taxes.
Through the Internal Revenue Service’s website, you can obtain your EIN. There are certain taxes imposed by states that might be applicable to the operation of your firm.
Credit card readers
Businesses will of course need to take payment for the services and products they provide. Having access to a low-cost POS card machine is essential to ensure your business can take payment from your customers in a quick and easy manner.
A card reader such as the Payanywhere Smart Terminal offers a simple pricing model, next day funds in your bank account, integrates with your Quickbooks accounting software and can also provide valuable data insights into sales trends, inventory management and customer behavior.
4. Launch your lash extension website & social media
A stunning site for your fresh lash extension company can be created very easily via:
- DIY building the business website yourself using a Page Builder or
- Hiring a qualified web designer to build effective landing pages that can drive new leads for your business using high-quality photos, videos, and other visual components that are in keeping with your brand’s aesthetic.
Having a slick, mobile-optimized website has numerous benefits for any business including:
- Attracting new customers 24/7, showcasing your services and products at any time
- Credibility, making it easier to attract and retain customers
- Online presence for Google searches actively looking for lash extension services in your area
- Customer engagement by helping to engage with customers regarding business info, photos, videos, feedback forms as well as contact forms
- Branding A website can help businesses establish and reinforce their brand identity, by incorporating their logo, color scheme, and other branding elements into the design.
Marketing & Social Media
Social media including Instagram, TikTok, Facebook and Twitter are powerful tools for a lash extension business as they can increase your business visibility, ability to engage with customers, establish and reinforce brand identity, and gather valuable data insights to improve marketing strategies.
Platforms such as Instagram and Facebook alone have billions of active users, providing a lash extension business with an opportunity to increase its visibility and reach a wider audience.
Direct Marketing can also be used in the form of Facebook and Google online ads on these platforms to market services and products to potential customers. Backflow testing businesses can use targeted ads to reach specific demographics and interests and use the campaign data to make informed decisions about your next marketing campaigns to drive more sales.
5. Create a Brand Identity for your lash extension business
To differentiate your company from your competitors, you’ll need to take some time to prepare and concentrate on how you want your consumers to feel & develop a unique personality for your lash extension business. From the logo’s design to the brand’s color scheme, there is a lot to think about.
A unique and memorable logo for your business can be professionally created by a talented Graphic Designer from a Logo Design service.
Hiring a logo design service can save a business time and money by eliminating the need to spend hours researching and creating a logo and a high-quality logo can be designed quickly and efficiently.
The steps to think about include:
- 1). Establish the vision and values that guide your lash extension company. What are you hoping to accomplish with your company? When people consider your lash extension brand, what do you want them to feel?
- 2). Go with a color palette that conveys who you are as a business. Colors say a lot regarding a product or service. If you’re stuck for inspiration, research competing products in your field to discover what colors they’re using.
- 3). Create a distinctive logo for your lash extension line. This is the first thing that customers will associate with your brand, therefore it has to be striking. Get in touch with an expert designer to develop a logo that captures the essence of your company while also looking great.
- 4). Make sure your branding is the same across all platforms. This should include your website banners to your business cards, your logo and color palette are always consistent with your brand. As a result, your brand’s identity will be strengthened and your company’s name recognition will increase.
Making a name for your lash extension company is unlikely to be as difficult as you would think. Creating a brand that sticks with consumers requires zeroing down on the company’s raison d’etre and core principles. A distinct identity for your lash extension business may be developed with some forethought and imagination.
6. Develop a Business Plan for your new lash extension
A well-developed business plan is a crucial tool for any entrepreneur looking to start a successful business. The plan should include your lash extension company’s mission and vision, target audience, product offerings, marketing and sales strategies, and financial projections.
The business plan should be regularly reviewed and updated to ensure that the business is on track to meet its goals.
A business strategy should cover the following:
- Market Analysis: An in-depth look at how the market for bricklayers is doing now and how it could grow.
- Business Summary: A description of your new lash extension business, including its purpose, goods or services, and target market.
- Business Strategy: A thorough plan that explains how the business is going to reach its goals.
- Financial Strategy: How much money you expect to make, spend, and need for cash.
- Marketing Plan: How the business will sell itself and what strategies and methods will be used.
- Operations: This is an account of the business’s working methods and practices.
7. Get Financing for your lash extension business
For your lash extension business, you can use personal savings or decide to use financing solutions for your new venture and you’ll have different options to consider which may work best: A bank loan, crowdfunding, investors or something different.
A clear, detailed, and comprehensive business and financial strategy is usually expected by banks or other partners from whom you seek for funding. To launch a firm, you could require funding from a bank, credit union, or the Small Firm Administration (SBA).
The cost to start a lash extension business can vary widely depending on factors such as location, equipment, supplies, and training. In general, the cost can range from a few thousand dollars to tens of thousands of dollars.
One of the biggest expenses when starting a lash extension business is the cost of training and certification. Quality training programs can cost anywhere from $500 to $2,000, and it is important to choose a reputable program to ensure that you receive the proper training and certification.
Another major expense is equipment and supplies. The cost of lash extension supplies such as adhesives, lashes, and application tools can add up quickly, and it is important to invest in high-quality products to provide the best possible service to clients. Equipment such as a treatment bed, lighting, and ventilation can also be significant expenses.
8. Business setup essentials
There are a number of different considerations which lash extension businesses should keep in mind when setting up including:
Compliance with Legal Requirements
Launching a lash extension business entails adhering to various legal obligations. Here are some key points to consider:
- Business registration: Complete the necessary registration procedures with the appropriate government agencies in your region or country.
- Licenses and permits: Obtain any required licenses and permits essential for operating a lash extension business within your locality.
- Insurance: Safeguard your business by acquiring liability insurance to mitigate unforeseen incidents like accidents, injuries, or property damage.
- Tax obligations: Familiarize yourself with your tax responsibilities as a business owner and ensure prompt and accurate tax payments.
Discover Your Niche
Identifying your niche is crucial for any business, including the lash extension industry. By understanding your niche, you can tailor your services and marketing strategies to cater to your target audience. Consider the following tips:
- Define your ideal client: Determine the characteristics of your desired clientele, such as age, gender, lifestyle, and personality. This understanding will help customize your offerings and marketing campaigns to meet their specific needs.
- Offer unique services: Differentiate yourself from competitors by providing distinct lash extension services. Consider specializing in a particular style or offering additional services like lash lifts and tints alongside traditional extensions.
- Emphasize quality: Regardless of your niche, prioritize delivering high-quality services and products to attract clients who value excellence over price.
Location and Equipment
The location and equipment of your lash extension studio significantly impact your business’s success. Keep the following considerations in mind:
- Strategic location: Choose a convenient location that aligns with your target audience’s preferences. Factors such as foot traffic, parking availability, and accessibility should be taken into account.
- Top-notch equipment: Invest in superior-quality equipment and supplies for your lash extension services, including lashes, adhesive, and tools. Create a comfortable environment with adequate lighting and comfortable seating.
Marketing and Promotion
Effective marketing and promotion are essential for attracting new clients and building a strong customer base. Consider the following strategies:
- Professional website: Develop a well-designed website that showcases your services and provides comprehensive information about your business. Ensure it is mobile-friendly and easy to navigate.
- Social media presence: Utilize popular platforms like Instagram and Facebook to exhibit your work and engage with potential clients. Leverage hashtags and actively interact with your followers to increase visibility.
- Referral program: Implement a referral program that incentivizes existing clients to refer new customers. Consider offering discounts or complimentary services to clients who successfully bring in referrals.
Operations and Customer Service
The success of your lash extension business also hinges on efficient operations and exceptional customer service. Take note of the following tips:
- Streamlined scheduling: Implement an efficient appointment scheduling system to manage bookings and minimize wait times. Utilize online booking tools to enhance convenience for your clients.
- Clear pricing structure: Develop a transparent pricing structure for your services and ensure clear communication with clients. Consider offering package deals or membership programs to encourage repeat business.
- Superior customer service: Train your staff to deliver excellent customer service and prioritize client satisfaction. Address client feedback promptly and encourage reviews to continually improve your business.
Training needed to open a lash extension business?
Mastering the art of lash extension application requires dedication, precision, and meticulousness. There are various avenues to acquire lash extension training, such as online courses, in-person classes, and apprenticeships.
To ensure a comprehensive understanding of lash extension application, it is advisable to select a reputable training program. Look for programs that cover essential topics like safety protocols, hygiene practices, product knowledge, and styling techniques.
Upon completion of your chosen training program, it is beneficial to continue practicing and refining your skills. Stay updated with the latest trends and techniques prevalent in the industry. Many lash extension suppliers offer ongoing education and training opportunities related to their products.
In addition to mastering lash extension applications, it is vital to possess knowledge of business management, encompassing financial management, marketing, and customer service. Consider enrolling in courses or workshops that focus on these aspects to enhance your proficiency and expertise in the field of lash extensions.
Regulations for opening a lash extension business?
The regulations surrounding the establishment of a lash extension business can vary depending on the jurisdiction, whether it be within a state or country. Thorough research and adherence to all pertinent laws and guidelines are crucial.
Typically, lash extension businesses are required to operate from a licensed and inspected facility while complying with health and safety regulations. This may involve acquiring a cosmetology or esthetician license and fulfilling specific training and educational prerequisites.
In the U.S, lash extension businesses are often regulated by state cosmetology boards, which establish standards encompassing sanitation, disinfection, and licensing. Certain states may necessitate lash technicians to complete a designated number of training hours or pass a state examination to obtain a license. Additionally, adherence to Occupational Safety and Health Administration (OSHA) regulations and the maintenance of appropriate insurance coverage are imperative.
In other countries like the U.K, regulations may be overseen by professional associations or councils. Compliance might involve completing specified training courses and holding particular certifications to ensure the legal provision of lash extension services.
Are eyelash extensions a profitable business?
The profit margin in an eyelash extension business is subject to variation, typically falling within a range of 50% to 80%. However, it is important to note that the actual percentage can fluctuate based on factors such as the expenses associated with supplies and overhead costs.
How do I start my own eyelash business?
To start an eyelash extension business, you should get certified, find a location, buy equipment, create a marketing plan, build relationships with suppliers and clients.
Is it hard to start your own lash business?
Launching a lash business is demanding, involving certification, financial commitment, marketing, and networking. However, with dedication and effort, it can yield fulfilling returns both personally and financially.
Tom is the founder of Gottagrow.io. He reads the offers, deciphers the details including features, pricing, included services and more to find you the best products and services.