Top business ideas for female entrepreneurs
In this series of articles, we selected the most common ideas for a business with minimal investments. We will tell you what will be required from you, whether it is necessary to rent a space, how to conduct an advertising campaign effectively and how long will it take for the project to pay back.
First business idea for female entrepreneurs — an online store selling handmade cosmetics.
Handmade cosmetics are perhaps one of the fastest-growing women’s business areas. Each lady is well versed in cosmetics, can easily select the items being sold, and advise buyers. It seems that all the seats are already occupied, but this is not the case. The cosmetics sales market in the USA is growing by 5-10% annually, the Internet market occupies 0.5-1% of the total flow.
In the light of recent events — the pandemic, the transition to remote work, and the introduction of self-isolation regimes, buyers have become more active in using the Internet for online shopping over the past year.
An online store as a type of entrepreneurship has the following advantages
• reduction of opening costs due to the absence of rent, recruitment and training costs
• work is carried out from home or any other convenient place
• ease of management and control of all business processes
Algorithm for launching a business project for the development of an online store of handmade cosmetics
• study of competitors — you need to choose your unique niche and offer a currently relevant feature that is not yet on the market or combine several promoted trends with greater attractiveness for customers
• determining the target audience and individual chips — first decide which customer the store is focused on. Since premium cosmetics require a more individual website design, thoughtfulness of branded packaging and style, which will permeate all stages of the sale of cosmetics from the name of the store to packaging and delivery
• search for suppliers. You need to agree in advance on which masters, workshops, and firms you will purchase the goods. Ideally, you should be able to send cosmetics to the buyer directly from the supplier’s warehouse.
• business registration with the tax service
• website creation — the most expensive part of the project includes domain payment, hosting, platform development, and its subsequent promotion. With the independent execution of most operations, the number of investments will be about 5-7 thousand rubles for development, from 10 thousand rubles for promotion.
• payment and delivery — give the buyer the opportunity to choose payment methods from a simple transfer from a card to cash on delivery from a courier. Sign delivery contracts with courier services in advance, do not exclude Russian Post for remote areas
• organization of an advertising campaign. Advertising is the engine of trade. You can promote an online store through contextual queries and social networks in the first stages yourself.