What is the Cost to Set Up a Mary Kay Business?
If you’re considering how to set up your Mary Kay business, it’s not just about having some makeup on hand. Running this type of small business requires solid systems for keeping track of sales, connecting with customers, and setting achievable goals.
Since you’ll be working as an independent contractor, it’s your responsibility to tackle both company challenges and your personal sales targets.
If you want to grow your business by recruiting others, you’ll need to set up additional systems for training and meeting certain unit requirements.
Let’s break down the steps to get your business up and running, discuss potential funding options, and explore the costs involved.
How to Set Up Your Mary Kay Business
You can start up your personal business instead of waiting for government work. And Mary Kay business could be recommended.
However, below are steps to take while setting up your Mary Kay business:
1. Create a Startup Budget
Start by figuring out the basic costs to kick off your Mary Kay business.
You’ll need to buy a Mary Kay starter kit and get a business license, which you can find out about from your local government office.
Also, consider other initial expenses like advertising and transportation for delivering products.
2. Packing for Demonstrations
Include any extra items you might need, like furniture for storing products or getting a separate phone line for your business.
When you’re ready to demonstrate products to potential customers, make sure your demo bag has all the essentials: clean mirrors, sample products, brochures, and order forms.
You’ll get most of these in your starter kit. Also, bring along pens, customer info cards, and maybe some prizes for referrals.
3. Home Office Necessities
Set up your Mary Kay home office with essential tools for smooth operation. Get a phone with voicemail, a computer, and a printer.
You’ll use these to manage appointments, place orders, and handle paperwork. Keep a filing system for customer info and orders.
Hang a corkboard for company updates and use a small table for packing orders.
4. Tracking Customer Sales
Keep track of customer sales to keep them coming back. Since Mary Kay products aren’t sold in stores, your customers rely on you.
Use the customer tracking system on the Mary Kay website to predict when they’ll need more products. Also, use a calendar to remind yourself when to follow up with customers.
Skincare items usually need replacing every 30 to 60 days, while makeup lasts three to six months.
5. Managing Your Inventory
Without keeping stock of products, your business will operate like a catalog. It’s wise to have products available when customers reach out to you. Store your inventory in your office or a well-ventilated closet.
Set up shelves in the closet or on the wall to store your products neatly. When new inventory arrives, put your personal labels on the boxes and items.
Make sure you have labels ready and shelves marked. Organize your shelves by product categories like TimeWise, Skin Care Basics, and add-ons. Also, have separate shelves for special items, makeup, and sales materials.
Possible Funding Options for Your Mary Kay Business
These are some of the possible funding options you may choose to consider;
1. Use a credit card to cover the cost of your Mary Kay startup kit and business license. You’ll get products to kickstart your business, and as you start making sales, you can quickly pay off the credit card.
2. Ask family or friends to lend you the money. If you share your business plan with them and assure them of your commitment, they might be willing to help out.
3. Save up over a couple of months by cutting back on non-essential expenses. For example, bring lunch from home instead of buying it, or skip eating out for a while.
4. Have a garage sale or sell things online to raise the money you need for your business.
5. Consider getting a personal loan from a bank or credit union if you need extra funds. Mary Kay allows you to start with minimal investment, and some lenders offer small loans for this purpose.
How Much Does it Cost to Start a Mary Kay Business?
For $100, you can start a Mary Kay business. This fee gets you a kit with full-size products and training materials, valued at over $400.
You can earn back your $100 investment through sales. On average, Mary Kay Beauty Consultants in the US make about $42,136 per year, which is 34% higher than the national average income.
Remember, buying inventory is optional, and you can only buy Mary Kay products through an Independent Beauty Consultant, either online or in person.
If you want to promote your business online, you can only do so through Mary Kay’s authorized programs, like the Personal Web Site program.
If you create your own website, you can’t use Mary Kay trademarks or copyrighted material.
Setting up your Mary Kay business is easy and affordable, with just a little startup cost that gives you everything you need to get started.
You have the flexibility to decide if you want to invest in inventory, and you can earn back your initial investment through sales.
With the potential to earn above-average income and the support of Mary Kay’s training materials and programs, you’re on your way to building a successful beauty business on your own terms.