PROSPECTS Premium colour cosmetics achieves strong growth despite a slight slowdown The best performance in colour cosmetics in was achieved by the premium segment as consumers are willing to spend more for premium products in this category. With the devaluation of the pound, tourists and non-UK consumers are helping boost sales of premium beauty products, although the increase in prices for British consumers contributed to a small slowdown in value sales. Moreover, thanks to the health trend, a holistic approach to make-up is growing amongst British consumers boosting sales of facial and eye products.
Even during economic downturns, women, in particular, are willing to splurge on a great lipstick or on an effective skin care treatment. If you are interested in starting your own cosmetics business, be forewarned: The federal government regulates the development and sale of cosmetics, so understanding these rules will help you comply with federal regulations while you offer products that consumers can get excited about.
Select a Niche Many small cosmetic companies operate within a particular industry niche. For example, a cosmetics company may commit to crafting fragrance-free skincare and makeup for people who have sensitive skin. Do some market research and consider your own preferences: Food and Drug Administration regulates the cosmetics industry.
The FDA has rules about the kinds of ingredients you can and cannot use in your cosmetics; the kinds of claims you can make about these ingredients on your labels; and the FDA requires you to take responsibility for the safety of your products.
This means that you are responsible for knowing the ingredients that go into your products, and that you cosmetics distribution business plan that your products have not become adulterated, and that they remain in compliance with federal labeling restrictions.
Another consideration is that -- in some cases -- a cosmetic may also be considered a drug. A drug purports to cure or to treat a specific medical condition.
If your products contain sunscreen, anti-dandruff treatments, or acne remedies, the FDA may consider them to be drugs, and that they are then subject to additional scrutiny. Hire a cosmetic chemist to work with you when developing your products.
Depending on your business structure, you could hire the chemist either as an employee or as a consultant. Seek out a private label manufacturer that offers customization options. These companies are set up to craft cosmetics and skincare to your specifications. You could earn a degree in cosmetic chemistry or in a related field.
Although this will require several years, it will provide you with in-depth knowledge of the products you sell. Secure Financing and a Workspace As you develop your business plan, consider sources of funding. You will need to have money to cover the cost of producing your product line, packaging it and then distributing it customers and retailers.
These costs may include salaries, rent and fees for licenses and permits. Depending on your circumstances, you may be able to finance your business through your savings, with help from family or friends, or from a business loan.
After you have secured your financing, you need place where you will operate your business.
According to the FDA, it is not a federal violation for you to operate your business out of your home. However, you will be responsible for ensuring that you can manufacture and store your products in a way that keeps them safe for public use.
State and local regulations may restrict your ability to operate a business in your home. Tip Check out business incubators in your area to ascertain if they have the kind of manufacturing space you need.
Typically, business incubators are not-for-profit organizations that own or lease a sizeable commercial facility, and that rent out individual units to new businesses.
For example, you may need to apply for a general business permit from your state, as well as applying for specialized permit or permits from state, county, or local agencies. The same may also be true if your municipality collects sales takes on local purchases.
If you are operating as a home business, you may need to obtain a home business license, as well as permits for your manufacturing space.Mary Kay sells cosmetics through a multi-level marketing model. Mary Kay distributors (called beauty consultants) can potentially make income by directly selling to people in their community, and also receive a commission on wholesale purchases made by people they recruit into the distribution network.
Mary Kay distributors must purchase a $ starter kit in order to qualify. Colour Cosmetics in the United Kingdom: The best performance in colour cosmetics in was achieved by the premium segment as consumers are willing.
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