Across cultures, few things emanate – and even across social classes. Wanting to look good is universal, so there is a market for beauty products, procedures, and treatments. People will then look for cosmetic and beauty products to bring them to this end.
If you want to capture the Filipino market, you can do many things. Despite the poverty and everything wrong in the Philippines, you have a large market left. There, a lot of things are thriving in the realm of beauty.
If you want to open a business, though, here is what you can do!
Niches
Unlike the Philippines, the United States and the European Union clearly define cosmetics and which products must be poured, sprayed on, or applied in contact with certain body parts. Furthermore, there is a wide variety of cosmetic products on the market.
Those in a rush prefer easy-to-use products that can be used for different purposes, such as those suitable for the cheeks and lips.
By figuring out your niche in the cosmetic industry, you will find it easier to gauge what products you want to focus on and segment your market. Furthermore, you can trim down the competition and get better liberty on the strategy for your pricing. As a result, you have a more substantial chance of getting the market to yourself.
In the Philippines, the niches are many. There is makeup and lipstick, as they are the most commonly bought products by women, especially those working, as well as creams, emulsions, lotions, hair products, etc.
You have the freedom to choose what to specialize in.
The Approach
You can make your cosmetic products or resell preexisting products. You can find white-label products that can be resold as your own. All of them have pros and cons, and drawbacks. However, the choice is up to you!
Making your own
This will vary, and the difficulty level depends significantly on your formula. Try it as a hobby and then build your experience from there. However, making your line is a challenging task. Beginners should be doing something other than this. If you make a revolutionary beauty product, then it might be even more liberating for you!
If you produce organic facial cream, you must say it is made from natural ingredients. As a result, you are more credible since you concocted the product. Moreover, you have more creative product control. Once you expand the business, your products can be provided under a resellers’ program, or you can try rebranding!
If you do get started, remember to use legitimate ingredients. Or else they may prove to
Remember, though, that you’ll spend more capital on sourcing the ingredients and materials to create your formula. On top of that, precision in measuring each ingredient is vital for a standard formula.
Get Capital
The next step is for you to get business capital. The first two items in the list and not the other way around should be the priority. Cosmetic products in the Philippines have a startup cost of P1000, but you can only go so far as to resell them.
You need more funds and equipment if you want something bigger and better – like your cosmetic line. The estimate is around P10,000 to P100,000.
Register
Lastly, you have to register. Business permit processing is essential since it helps make your business legitimate.
It would help if you also processed the necessary business permits to operate your shop legitimately.
Wrapping Up
Opening a beauty business is not a walk in the park. The process can be a lot. However, it is still possible to do.
Author’s Bio:
Angelo Castelda works as a contributor for a news magazine in Asia. He loves to learn and understand diverse cultures and aims to share through his writing his experiences around the world.
