How to Set Up Your Mary Kay Business in 2020: Everything to Know.
How to Set Up Your Mary Kay Business: If you have an interest in beauty products and a talent for sales, you can earn money as an independent beauty consultant. Mary Kay offers a wide selection of makeup, age fighters, sunscreens, and other skincare products you can sell.
This is everything you need to know about how to set up your Mary Kay business.
How to Set Up Your Mary Kay Business
Create a Startup Budget
1. Figure out how much you will need at the bare minimum to get started. At a minimum, you will need a Mary Kay startup kit as well as a business license. You can visit the official Mary Kay website to learn the cost of a kit, and the local department responsible for licensing and inspections can provide information about the cost of a business license.
2. Add to your startup budget by figuring out how much you will initially need for advertising, such as through newspapers and flyers, and transportation, such as via your car or the bus, to deliver products to customers.
3. Include any extra expenses you will have in your startup budget. For example, you can include items such as a filing cabinet, desk and shelves for storing products. If you will have a separate phone line for your business, include in your budget the cost of having it installed.
Packing for Demonstrations
Mary Kay, the company’s founder once said, “Nothing happens until someone sells something.” This kind of small business relies on mining for new customers through product demonstrations.
When you become an independent beauty consultant, you’ll need to have your demonstration bag loaded with clean mirrors, sample products, sales brochures, and order forms. The demonstration bag will be included in your starter kit. Other things you may need in your bag are pens, customer profile cards, and referral prizes.
Home Office Necessities
Your Mary Kay home office needs reliable components to run efficiently. For the best setup, including a phone with a messaging system, a computer, and a printer. In your office, you’ll book and confirm appointments, place orders, and purchase wholesale products. You’ll need a filing system for keeping customer profile cards and order slips.
Hang a small corkboard to pin company promotions on and important, upcoming goals. You should have a small table in your office, too. This will come in handy when you need to pack orders for mail or delivery.
Tracking Customer Sales
Repeat business is key to succeeding in Mary Kay. Fortunately for you, customers can’t buy Mary Kay products in stores, only through licensed consultants. However, to offer good service, you’ll need to anticipate when customers will run out of their skincare and makeup products.
The best way to track and predict future customer sales is to use the customer profile tracking system on the Mary Kay Intouch website. For backup, create a monthly calendar template and mark the calls you need to make for sales reminders. Skin products need replenishing every 30 to 60 days. Cosmetics last three to six months.
Managing Your Inventory
Without an inventory, your business will run as a catalog business. It is smart business to have products on hand when customers call you. Keep inventory in your office or a well-ventilated closet. Stacking closet shelves or wall shelving is a must for storing inventory. When inventory comes in, you’ll need to attach your personal contact labels on the boxes and products.
Have labels ready and shelves marked. Have assigned shelves for TimeWise, Skin Care Basics, and add-ons. You’ll need separate shelves for limited-edition merchandise, color products, and Section 2 sales aids.
1. Use a credit card to finance your Mary Kay business, including the startup kit and business license. The kit comes with full- and sample-sized products you can use to start your business. With hard work, you can get your first few orders and pay off this credit card charge quickly.
2. Borrow from family members or friends. If you create a business plan for your Mary Kay business and share it with your loved ones, they may feel confident in your ability to earn money and repay the amount you borrowed.
3. Save the money to buy a Mary Kay startup kit and obtain a business license over a month or two. You can do this by skipping some of the luxuries you usually enjoy each month. For example, if you take your lunch to work for several weeks or avoid eating dinners out for a month or two, you may have enough money to get started.
4. Have a garage sale and sell unwanted items on online auction websites. Use the profits from the sale to finance your new business.
5. Obtain a personal loan from a bank or credit union. Mary Kay makes it possible to purchase inventory with minimal investment, and some lenders are willing to grant loans for low amounts.