I’ve always been into fashion and hair styles. I guess that’s what made me a big fan of hair extensions and lace wigs. I like the idea of being able to change my look. I can’t even begin to count the number of hours I’ve spent in salons. I started out using synthetic hair products but soon became frustrated with the constant upkeep. That’s what made me switch to Remy Hair products. Finding a salon that provided Indian Remy extensions and wigs wasn’t easy, but I found one. The lack of availability is what led me to independently sale and market Remy hair products to stylists, salon owners, and beauty supply stores. My first step was to visit and network with as many stylists, salon owners, and supply stores as possible to find out if there was a market and an interest in the product. Surprisingly enough, there was not only a huge market… but a huge interest. I was curious why it remained such an untapped market. I found that despite there being a market for the product, most stylists and salon owners weren’t willing to deal with the headache and financial strain of stocking such a “high cost” inventory. Most manufacturers require a MOQ (minimum order quantity) and it can be an expensive endeavor in addition to the risk involved with purchasing thousands of dollars in inventory with no idea what clients will want in terms of length, texture, or color. That’s when i contacted a supplier and offered to become an independent rep for their product. Not only did they accept my offer…they wavied their MOQs on most of their products. They offered me wholesale pricing and I was free to sale and market their products to stylists, salons, beauty supply stores, etc.
I decided that my niche’ would be Remy hair extensions, full lace wigs, and lace front wigs. Here’s the first thing you should know about selling anything, “People want to see it”. With that in mind I bought 5 units of 10″ Remy hair extensions, 1 - 10″ full lace Remy wig, 1 - 10″ lace front Remy wig, and two mannequins. All total I invested less than $500 (probably could’ve gotten away with half of that) and set out to target 5 different salons. I knew there was already an interest I just needed to show them how they could capitalize on it financially. I created a marketing portfolio with the help of the supplier (pictures, literature, etc) and took each of my wig displays to two different salons. My proposal to the salon owner was very simple…set up the display unit and marketing material and once her clients saw it and felt it…they’d want it. They were allowed to set their own retail price and units would have to be ordered and would arrive in 5-7 business days. If you’re not familiar with the lace wig retail business; salons retail these units from $450 – $1500 (for full lace wigs) and $350 – $800 (for lace front wigs). Then there’s a charge for application and styling. On the low-end of the spectrum; a salon’s total charge for a full lace wig installed and styled…$650, for a lace front wig…$475. On average I profit between $110-$130 off each unit sold. The salon profits about $150 off the unit (and that doesn’t include the installation and styling fees). So far my two partners are averaging about 3 sales each per week ($600 plus for me).
Now for the Hair extensions… I targeted 3 salons that mainly focused on sew-ins. Remy Hair extensions retail for around $89/bag (10″) up to $150/bag (20″). That may sound expensive, but it lasts. You’re not having to have your weave re-done every 2 weeks. Out of the 3 salons that I targeted only 2 were interested and partnered with me. Each of those salons order on average about 10 units/week (20); which isn’t a lot when you consider one client will need at least 2 bags, if not more. My profit on those 20 units/week averages around $800. Those same 20 units will net those salons an average of $650 in profit per week that they weren’t making before in addition to offering a better product and service to their clients.
So there you have it! That’s how I’m making more than a $1000 a week with Remy hair. Keep in mind, I only have 5 clients so far and I’m just getting started. My goal is to double my clients, which means doubling my income. Considering the economy these days…working 4 hours a day, 5 days a week (most of the time 4 days) and the potential to earn $2000/week…probably isn’t a bad gig after all.
Wig-Space