How to Open a Beauty Supply Store in Milwaukee

• 1). Select a specialty. Choose what type of products you want to sell in your beauty supply store. Beauty supply stores can serve the general population or operate exclusively for professionals. Professional products can only be sold to licensed professionals so decide if you want to carry products for the general public, professionals only or both.
  
  
• 2). Construct a business plan. Business plans for opening a beauty supply store should include detailed descriptions of products and services, target demographics, marketing strategies, operation plans and financial plans. A financial plan is the most important element. It shows how much it will cost to start and operate your business in comparison to how much income you expect to generate in sales. After bills are paid, salaries are distributed and products are ordered, your beauty supply store should generate enough money to turn a profit.
  
  
• 3). Locate start-up funds. Sufficient funds are needed to start your business. Milwaukee has government-sponsored financing programs that offer fixed-rate, below-market business loans or grant programs. Contact the Milwaukee Economic Development Corp to complete an application. Other options include individual investors and venture capital firms.
  
  
• 4). Obtain the necessary permits and tax forms. The state of Wisconsin requires the following: seller's permit, resale (wholesalers) or exemption certificate, consumer use tax permits, state withholding tax ID number and a manufacturing exemption certificate. Applications are available at the Wisconsin Department of Revenue. Confirm that all forms are required for your business.
  
  
• 5). Decide on your business legal structure. Consider the legal form under which your entity will operate and choose from the following: partnership, sole proprietorship, general partnership or corporation. Consult your legal and tax advisers about the most appropriate legal form of organization for your business.
  
  
• 6). Select a business location and lease a facility. Choose a location that will generate heavy traffic and is easily seen from the main roads. A shopping mall would be ideal. Contact the Milwaukee City of Development to assist you with location selection and obtaining the proper permits and licenses for zoning. Inquire about assistance with building codes. Your beauty supply store must comply with all state and local codes that regulate building construction, plumbing and electrical installations. Design, furnish and renovate your facility after receiving licenses and approvals.
  
  
• 7). Choose a supplier and open multiple wholesale accounts. Stock the store with a diverse selection of hair and make-up products and accessories from various brands. Research and contact multiple beauty suppliers to negotiate the best wholesale prices. Expect to show proof that you are a business before receiving wholesale prices.
  
  
• 8). Hire and train your staff. Advertise your job opportunity in a local publication or use free online jobsites to recruit workers. Have all necessary employment paperwork for new hires to sign and post all regulations in the employee break area as directed by the Milwaukee Association of Commerce.
  
  
• 9). Select a grand opening date and market your beauty supply store. Place coupons and ads in beauty salons, clothing stores, newspapers and beauty schools. Use social media and offer promotions to attract potential customers. Hiring a professional marketing team can also boost exposure.