Are you planning on starting your own perfume business? Then keep reading! In this article, you’ll be enlightened about the vital things you need to run this kind of business. Every type of business has a unique set of requirements, therefore it’s crucial to understand what YOUR particular type of business needs.
And as a businessman, you might already know how important pre-planning is in business. Pre-planning is a great risk preventative and with a concrete business prep, the likelihood of your enterprise failing is decreased.
So before officially opening your perfume business, down below is a list of crucial things you’ll be needing:
1. A Business Plan!
This might already seem too obvious but when can’t stress enough how important business plans are! A business plan acts as a map that’ll guide you through. This will help you execute your business goals that have been sent for a given timeframe.
So your business plan can cover goals for 3 months, 12 months, years and even more. But usually, it covers about 6-12 months. Your business plan covers your budget, marketing, products, staff and more! To give you an idea of what a business plan consists of, here’s a list:
What Does a Business Plan Consist of?
For a more concrete business plan, create one that covers 7 components. To guide you through before creating, here’s a rundown:
- An executive summary of your company should be included.
- It should provide a description of your company.
- It must have a plan and market analysis.
- It should include an operational strategy.
- A competitive analysis ought to be included.
- It ought to provide a description of the goods and services.
- A description of the management and organization is required.
Running a perfume shop can be a handful since you’ll be needing tons of space. The space is essentially for bottles, scents, transferring tools, packaging, cleaning materials and so much more. You’d think this might also be an essential thing to have for other kinds of businesses.
But the thing about perfume making is, you need to keep things secured and separate. This is to prevent contaminating your scents with one another. So ‘consider working on your organizational skills and get a decent-sized storage space.
How Can I Organize My Perfume Storage?
A way to efficiently keep your perfume business neat and tidy is by getting organizational items. To give you an idea of what items to get, here’s a list:
- Get metal trays. Plastics might melt and wooden trays will absorb oil. Natural and concentrated scents are pretty strong, so consider getting metal trays.
- Get steel shelves.
- Consider labeling all your containers. You can use a label maker or the traditional tape and marker duo.
- Keep your scents sealed. If containers don’t come with lids, get some.
- Always use gloves when organizing to prevent contaminating and getting your scents mixed together.
- Keep opened scents in non-slip bottles or place them in a ziplock bag.
These are just some ideas to start with. You can also choose to use other organizational hacks you have up your sleeves.
3. Business Protection!
For any business you choose to get into, business protection is always essential. And one of the most efficient ways to keep your business protected is by getting business insurance. This can protect your business in various aspects like property, inventory, staff, customers and more!
Business insurance is essential to get before running your perfume shop. Whether you mainly run online or have a walk-in shop, protection is crucial to have! To give you an idea of what business insurance can cover, check out the list below:
What Does Business Insurance Cover?
Depending on your business’s needs, your coverage may vary, but listed down below are common policies you can get when obtaining business insurance:
- Commercial property insurance.
- Cyber liability insurance.
- General and professional liability insurance.
- Auto insurance.
- Workers’ compensation insurance.
4. Online Option!
This doesn’t apply to online businesses, but to enterprises that own walk-in shops. Having an online option is a great way to reach more customers. Plus this is also a convenient way for people to shop.
And because online shopping is the most relevant thing today, an online option is crucial to have! Consider creating a business account on popular social media applications like Instagram, Facebook, Tiktok, Twitter, YouTube and more.
You can even create an account on e-commerce sites and sell your products there. E-commerce sites like eBay, Amazon, Etsy and so on. A tip, you can even use the internet as a way to advertise your products through ads!
How Do I Advertise My Business Online?
There are 5 effective ways to market your business online! You can always choose to do more than what’s listed. But to simply give you an idea of how to advertise, down below is a list!
- Create high-quality content like fun and short videos, posters, customer reviews and so on.
- Get influencers to review your products and get them to post them online.
- Come up with interactive ways to connect with people! (ex. Giveaways, contests… etc.)
- Run ads on Google, Facebook, Instagram and other popular sites.
- Consider email marketing.