Selling hair extensions on Shopify: Is it worth trying?
Hair extensions are considered to be a well-liked and lucrative market segment in the beauty industry. It is a golden opportunity for businessmen around the world to start their own business through a lot of online shopping platforms.
So, is it a smart idea to start selling hair extensions on Shopify? Is it worth trying? Are there any risks when doing a startup with hair extensions?
Well, in the following article, we will illustrate the reasons why selling hair extensions is profitable, why you should start selling hair extensions on Shopify along with a series of recommendations.
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Is selling hair extensions profitable?
Selling hair extensions can be a profitable business. It is declared when you have access to high-quality products, an effective marketing plan and a loyal customer base. However, it also depends a lot on your business area, the level of competition and your expenses.
It is reported that the average retail hair extension order is around $195. You will generate gross sales of between $54,750 USD and $109,500 per year if you only make one transaction each day. Hair retail generally has a profit margin of 50% to 100%. Therefore, after deducting the cost of purchasing the hair, your net profit will range from $27,375 USD to $54,750 USD.
As a result, in the long term, selling hair extensions may be a satisfying and successful endeavor.
Should you sell hair extensions on Shopify?
Should you sell hair extensions on Shopify? This is one of the most common questions that a lot of entrepreneurs ask themselves when searching for a lucrative eCommerce industry niche.
In fact, Shopify will not make you disappointed thanks to the following benefits shown below.
User-friendly interface: Shopify simplifies your process of building your online store. Meanwhile, it also offers a series of customizable templates that allows you to design a professional - looking store of hair extensions.
SEO features: Shopify has uilt-in SEO tools that can help you optimize your hair extensions store for search engines. This can increase the visibility of your store and draw prospective customers.
Various payment options: Shopify supports a number of payment gateways so that your customers can purchase goods and services in a number of ways. This adaptability can support clients’ preferred payment methods and increase conversion rates.
Scalability: Your business expands you may start with a small inventory and progressively increase the range of hair extensions you provide. Shopify can work with companies of various sizes, from small startups to larger corporations.
In a nutshell, before selecting to sell hair extensions on Shopify or any other eCommerce platform, it’s crucial to thoroughly weigh these advantages and disadvantages in light of your own business requirements and objectives. Budget, desired amount of customization, scalability needs, and the level of competition in your target market should all be taken into account.
Selling hair extensions on Shopify: How to start?
Using Shopify to launch a hair extensions business might be a terrific method to develop a profitable online store. But you may not know how to start selling hair extensions on Shopify? Here is a step-by-step instruction sheet to get you going.
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Step 1: Defining your target market
Before you start, it’s important to conduct research on your target market and define it. Determine the characteristics, preferences, and purchasing patterns of your ideal clients. This will enable you to appropriately customize your products and marketing plans.
Step 2: Finding trustworthy hair extensions suppliers
Seeking reliable manufacturers or suppliers who can give you high-quality hair extensions is important. Because a prestigious source of hair extensions is an excellent base for your business to compete in the hair market. Make sure that the hair you successfully find is long-lasting, ethically sourced, and meets your target market’s needs.
One of the most reliable hair extensions suppliers we recommend originates from Vietnam, particularly Jen Hair Vietnam. It can meet most of your requirements related to a range of hair extensions such as the length, the style and the color. Why don’t you visit Jen Hair and check out?
Step 3: Building your Shopify Store
Create an account with Shopify and launch your online store. Select a theme that is aesthetically pleasing, represents your business, and makes it simple for customers to explore your shop. If you find it challenging to brainstorm your idea, you can visit 7+ Best Shopify Hair Salon Themes. We are sure that you can freely choose to use and even design as desired based on these.
Create a distinctive brand identity by personalizing the look, feel, and colors of your store.
Step 4: Filling your products into your store
Upload attractive images and comprehensive descriptions of your hair extensions to your online shop. Describe the hair’s length, texture, color options, recommended maintenance regimen, and any other pertinent information. Set reasonable rates that are in line with the demands of the market and your target audience.
Step 5: Setting shipping and market options
Set up payment processors like Shopify Payments, PayPal, or Stripe to receive payments from customers. Set up shipping options, and based on your location and the locations you intend to send to, calculate the costs. To entice customers, take into account providing free shipping or special discounts.
Step 6: Marketing your Shopify store
Create a thorough marketing strategy to advertise your hair extensions business. Use social media sites like Facebook, Pinterest, and Instagram to promote your items and interact with potential buyers. To reach a larger audience, work with influencers or hairdressers. To increase visibility, think about placing targeted advertisements on websites like Google advertisements or Facebook Ads.
Step 7: Analyzing and improving
Utilize Shopify’s built-in analytics or outside solutions to routinely analyze your store’s performance. Monitor important statistics such as traffic, conversion rates, and consumer behavior. Utilize the information to pinpoint areas where your marketing techniques need to be improved.
1. Do I need a license to sell hair extensions?
The answer depends on a number of variables, including the kind of hair extensions you are selling, where you are selling them, and the local laws that are in effect. In general, you might not need a license if you’re selling ready-made, packed hair extensions. You could require a business license and a sales tax permit if you’re selling hair extensions offline or online. Before establishing your business, it is recommended to look into the regulations for selling hair extensions in your state or country to avoid any potential legal complications.
2. Which type of hair extensions should I sell?
It is an actual fact that hair extensions come in a variety of forms, including clip-in, tape-in, sew-in, fusion, micro-link, and halo extensions. Depending on the level of quality, price, upkeep, and compatibility for various hair types, each variety has pros and cons. Therefore, according to Black Hair 101 and other hair experts, it is advisable to examine the demand, competition, and client preferences in your target market before deciding which type of hair extensions to sell.
Each source from different countries has its own pros and cons. The most potential markets to trade in the hair industry are Chinese hair extensions and Vietnam hair extensions. Chinese hair extensions come in a variety of quality levels, much like a hotpot. Chinese hair extensions are therefore priced differently as a result. Meanwhile, Vietnam is highly regarded for having some of the greatest hair quality in the hair business. It meets a lot of requirements for startups all around the world such as price, quality, customer service, and so on. If you’d love to start your hair extensions business on Shopify, we’d love to recommend trying out Vietnamese hair extensions.
In conclusion, we have shown you all of the important information about selling hair extensions on Shopify.
Keep in mind that creating a profitable hair extension business requires time and work. Prepare yourself to change your tactics as you gain knowledge and experience. You can establish a successful hair extensions store on Shopify with commitment, focus on quality, and a customer-centric strategy.
Author bio: Elsie
This is Elsie from Jen Hair Vietnam, who is a renowned content marketer and a true master in the art of hair extensions. Her extensive understanding of numerous methods such as fusion, weave, clip-ins and so on enables her to develop unique solutions that boost the branding values.