With more and more Lash Artists on the market, many can’t help but wonder “How Do I Win The Lash Business Competition?”
Believe it or not, the Eyelash Extension service market in the US is still in it’s infantile stages… Yes, I’ve said it. When comparing to other beauty services such as hair, nails, makeup and esthetetics, Eyelash Extensions are just a little (however rapidly growing bigger) blimp on the beauty radar.
Contrary to some belief that Eyelash Extension is just a trend, I will provide you an antidote that will kill that thought in an instant… mascara! In comes Maybelline, the pioneer and mass producer of mascara to the US public. Maybelline was founded in 1915 by a 19-year-old US born entrepreneur named Thomas Lyle Williams and 104 years later is still one of the most profitable eye makeup brands in the world. When you think that individual Eyelash Extensions have became mainstream in US just in the past 10-15 years, it leaves us to believe that there are enormous growth opportunities that are available to all up and coming Lash Artists.
1920 ad for Maybelline.
Eyelash Extensions is your mascara of the 21st Century. It all but replaces the need of using mascara, giving our busy modern society one less thing to worry about every morning.
As a new Lash Artist, starting in an unfamiliar industry can feel overwhelming. We are going to try to guide you through this process. Performing your due diligence for each of the steps below, will help you get a good picture of what needs to be done to win the lash business competition in your area.
Analyze The Quality of Your Competition
America is a land of opportunity says the old cliche. It is however not a cliche at all, opportunity is everywhere you look… all you have to do is look in the right place. Every major US metropolitan market is unique in so many ways, when it comes to Eyelash Extension services it is no different.
When you are ready to begin your journey and become a self employed Lash Artist you must first analyze the competition in your local market. Browse the web or stop by a few successful salons in your area, then by a few that are not doing so well to evaluate what your competition is doing right and where there is room for improvement. You can easily differentiate a successful establishment vs the contrary by simply looking at their reviews or by calling to see when their next available appointment is. The longer you will have to wait for the next appointment, the higher demand for this salon, thus deemed successful. What are their prices, special offers, client reviews. Look at their work space layouts, product offerings and the type of advertising they are doing. Look at what makes the top 3 salons succeed in your area and what makes the bottom 3 are fail. Always follow the leaders and avoid the mistakes of the ineffective.
Market Price Analysis
In order to understand how your local market price structure works, start by following the advise in the previous paragraph. You might be surprised but price plays a very small role in how successful a salon is or isn’t. Your analysis in the first paragraph will most likely show that just because a business charges very low for Eyelash Extension services does not mean they are busy. You might find the salon that is charging the highest rates in your area would be the most successful and busiest one of all.
In order to price yourself right you have to compare apples to apples. If you are opening a small home studio, with only a few months of experience you cannot price tag your services like a luxurious spa does.
What proper market price analysis should give you is the top and the bottom dollar you can charge in your area. It is then up to you to determine where are you on that scale. Some of the determining factors include: location, experience, reviews and surrounding competition. Always remember, price yourself right, not cheap! Clients usually steer clear of low prices and are always willing to pay more to feel reassured they are doing business with a professional.
Supply and Demand
Next step in your plan to succeed is to evaluate the supply and demand of Eyelash Extension Artists in your local area. This very important aspect can make or break your future plans. Let’s first start with demand as this is one constant you can pencil into your business plan. Luckily, due the increasing popularity of Eyelash Extensions as we already discussed, demand will almost certainly be there IF you offer quality service. However do not take this side of the equation for granted, examine the following questions:
When performing your analysis in paragraph one, did you notice that many of the salons you contacted had a long wait time for the next available appointment or were many willing to take you in the same day?
Is the population trend in your area on the rise or on the decline?
Is this a seasonal destination where you get a large infusion of people for a few months a year?
What is the median income level in your area? Can the majority truly afford to pay for your services?
Those are just some of the questions you have to ask yourself when determining the demand in your local area. The more homework you do will greatly increase your chances of winnning the lash business competition.
The supply side of the equation is not as clear cut as the demand is. Supply always fluctuates and could significantly change at any time. The larger the metropolis you are evaluating the less of a fluctuation in supply. In a smaller town, the supply picture could dramatically change with one major player joining the circuit where in a large city with greater population it will most likely not be felt as much.
Ask yourself the same questions as we identified for the demand above. If you determine that you are on the right side of this equation (less supply, more demand) than your path to will have less obstacles. However if the contrary is the case, not all is lost! You can still be very successful, you will just have to work that much harder towards your success.
Another way to tilt the scales in your favor is by creating additional demand. This could be done by infusing strategic advertising or getting help from your friends using the word of mouth strategy.
Short Term and Long Term Goals
Last, but not least, you need to determine your goals as a Lash Extension Artist.
Will this be your supplementary income or your full time job?
Are you planning to use this as a step to something greater or will this be your temporary solution to the means?
Are you planning to invest time and money into this business or are you contempt with letting it catch its wave and ride it no matter where it brings you?
Building a successful Eyelash Extension business will take time, dedication and the desire to reinvest some of your profits to improve your position. As with any business, there are no shortcuts or quick 1-2-3 step programs to success.
Based on the hundreds of successful Pearl Lash Certified Lash Artists working in the field today, we can tell you this… The failure rate of an new lash artist who dedicates themselves to their new career, works hard, analyzes their competition and does not cut corner is under 1%! To put this into perspective, 99 out of 100 Lash Artists certified by Pearl Lash who Put In Proper Effort and Dedication are succeeding. We hear success stories everyday from our past students who have graduated and took the advise given during their time with us.
Focus on your goals, do your research, never stop practicing to improve, do not cut corners or use inferior products, invest your time and you will be the best Lash Artist in your area!
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