10 Steps For African Americans to Dominate Beauty Supply Stores and Become Millionaires
Originally posted in April 2010:
For too many years, Asians have dominated beauty supply stores and they have become multimillionaires. For some odd reason, black people pay millions of dollars, annually to Asian owned beauty supply stores and do not own any of them. African Americans have successfully dominated the entertainment and athletic industries, but they lack confidence when it comes to owning beauty supply store businesses. In the 21st century, there needs to be a change and it must occur very soon. Many African American entrepreneurs have made the usual excuse that companies will not invest into there stores, but that is very untrue, because African Americans are manufacturers of the majority of black products, these days: Bronner Brothers, African Pride, Africa’s Best, African Wonders, Dudley, Miracle Hair and the list goes on here. Therefore, if African American entrepreneurs can make black hair care products or become a licensed beautician, they can easily own beauty supply stores, it is all in the state of mind, it absolutely has nothing to do with race; although, a black entrepreneur may endure hardships of racism during the process of opening up a store.
If African Americans would make a choice to stop patronizing Asian owned businesses, such as beauty supply stores and invest in their own vision, then they would most definitely start dominating and owning most, if not all of beauty supply businesses. Think about it, why is it that African Americans can dominate what they enjoy doing, but certain things, it seems like they cannot accomplish based on race? It is so simple, African Americans have the ability to broadened their success, if they focus on competition in any endeavor they want so bad to occur.
If you are an African American who for so long bought products from Asian owned beauty supply stores and you do not wish to patronize there service any longer and wish to own your own store, here is a ten step blue print to do it.
- When you first get started in any business, the first step is to clear your mind of any negativity, do not think about finance you lack. You must have faith first, before you can earn money as an entrepreneur, so blot out anything or anyone who makes you think you cannot become a successful owner of your own beauty supply store.
- Be secretive in your vision, do not tell anyone your plan, friends or family, because they may discourage you from fulfilling your dream of success and prosperity. Also, you may desire to avoid negative minded people. If you are constantly around a negative atmosphere, you will never obtain a mindset of success.
- Sit down and take your time while planning how you would get money to lease a property space to open up your own store. You do not necessarily need to go to a bank, but create a possibility to meet a wealthy African American, whether they be an athlete, entertainer, physician or even an attorney. Write out who you would like to meet, then make a way to professionally create a business plan and letter to send them of their wealth opportunity, you would like to share with them, your multi-million dollar beauty supply store.
- Create an idealistic business plan for yourself, so you will know what steps to take to open up your beauty supply store. Do research in any search engine like Google on learning how to create a business plan. Carefully, type up your business plan and be realistic when doing so. When you type up your business plan, do not forget to mention how much your investor (your African American wealthy associate) will profit from your beauty supply store.
- Go looking around in a safe neighborhood within the black community that has a reasonable monthly property space for lease. Make sure it is located in a spot that will attract a lot of African Americans. Do not worry about how you are going to get the money, just start looking around and the rest will happen in the future, all it takes is faith.
- Come up with a very unique name to include on your business plan, a name that would captivate investors, then future customers.
- Do a search on mainly black owned hair care product companies, contact them and let them know you would like their product to be included in your store. Ask how much for a certain amount at wholesale price, include this in your business plan.
- At this point, do an update of contacts of possible African American investors and make sure you get at least 5 people to meet with you, one part at a time. It could be at a coffee shop or any quiet location, if you feel uncomfortable for them to visit your household, for any reason.
- Create a plan for advertisement. You can start off passing out fliers in the black community and even to middle or very well-to-do African Americans. Possibly, your investor could help you advertise on a local radio or television station.
- Create a grand opening party at your business location and pass out free samples. It would be wise to have a banner above your business sign for at least 2 weeks. You should offer discounts for customers who spend so much money. Be fair to your customers and they will stop patronize Asian owned beauty supply stores. Make sure you stay in touch with your investor(s) and let them know how you are doing with your business and allow them to visit anytime to assist you in your operation; meantime, humbly accept their advice on your store and follow any suggestions they give and you will succeed and take over in the business of selling beauty products.
We of AToast2Wealth.com hope you will take these necessary 10 steps to opening up your own beauty supply store. After you have succeeded, come right back to this post on our blog and let readers know about your success.
Photo courtesy of hannahranay.blogspot.com/