If you talk to any financial guru one piece of advice that is common amongst them is that you should have at least 5-7 streams of income. This is not easy but as long as you are actively making an effort you will get there.
This post is for those of you who are beauty guru’s and want to turn your hobby into a lucrative side hustle! Below we have 3 ways you can turn your love for beauty into an amazing online side hustle.
Create An Instagram Microblog
With over 1 billion monthly active users, it’s no surprise that Instagram is one of the most popular social media platforms to use for business ventures and general career advancement. For most people, Instagram is nothing more than an app where you can like and share your favorite pictures. But for others, it’s a solid way to make some good money.
Like most social networks, the opportunity to thrive depends on your follower count— the more followers you have, the more likely you are to make money. The general rule of thumb is that you can make $10 per 1,000 followers, meaning that you can charge a minimum of $100 per post once you have 10,000 followers.
Getting 10,000 people to follow you sounds like a tall task for a personal account, but an Instagram microblog is a little different. A microblog is a daily updated account that curates pictures based on your chosen theme. Beauty microblogs cover everything from natural hair tutorials; to skincare tips; to makeup looks for black women.
With most of them easily gaining thousands of followers within a single year, this gives them the space to make thousands of dollars via sponsorship, advertisement, and promotion every month.
The great thing about Instagram microblogs is that it’s possible to run more than one at once, so it wouldn’t be a bad idea to have two: one with a collection of content from other creators and one where you are the sole content creator.
Sell Your Services
Most people assume that in order to have a successful online business, you must sell a product—but this is actually far from the truth. A business, online or otherwise, is only successful when it fulfills a consumer’s need for something.
And what says “fulfilling a need” more than helping others get what they want through your own skills and abilities? And there are many different ways to do this within the beauty industry. Makeup artists, cosmetologists, nail technicians, and hairstylists are all trained, educated, and certified to work in a multi-billion dollar industry, and picking up such a trade would be an extremely worthwhile investment.
However, there a number of skills and services that don’t necessarily require formal education or training, and can be done from home:
- Social Media Manager for Beauty Brands
- Beauty Copywriter
- Wig Customization & Styling
- Style Consultant
- Technical & Creative Fashion Design
- Freelance Writer Specializing In Beauty
- Personal Shopper
- Creative Directing & Curating For Cosmetic Companies
Once you decide what your skill is going to be and how you will use it to serve others, you need to appropriately price it so that it’s actually worth all of the time and effort you’re putting in. Here’s a great guide that’ll help you set up the correct hourly rate for you.
Consider Being A Reseller
The concept behind being a reseller is simple: you buy a product at a lower price and then you sell it for a higher one in order to gain a profit. This can be anything from selling a gently worn sweater you don’t want on an app like Poshmark or ThredUp, to buying hair products wholesale from a company and selling them in your own online beauty supply.
If you need a way to make a little extra money, selling things you already own is the best option because the start-up cost is incredibly low. And even when you are selling for a company, the commitment isn’t a burdensome one; You typically aren’t responsible for holding or shipping inventory, you simply serve as the middleman between the company you’re working with and the customer.
However, if you’re interested in becoming a reseller and working with brands full time, there are still some things you must consider:
- Depending on how you want to start your business, there a few legal things you may need to get in order. Do your research on employee identification numbers, wholesale licenses, business name registration, and obtaining a business checking account before you become a reseller.
- Having a website and online presence before you apply for a wholesale account with different companies will increase your chance of being approved as a reseller.
- Pick the right brands and products. If you offer all of this merchandise that nobody is even interested in, it’ll be a wasted investment of time and money.
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