Making Lip Gloss to Sell
Our Side Hustles Breakdown
We highly recommend making lip gloss to sell, tapping into the beauty market’s evergreen demand. It’s an exciting venture for those passionate about cosmetics. Key concern: Ensuring a safe, quality product by using approved ingredients.
- Quality Control: Ensuring consistent quality and safety is paramount.
- Competition: The beauty market has many players, making differentiation important.
- Trends Change: Keeping up with the latest in beauty trends requires constant market research.
- Trend-Driven Market: New shades and formulas can quickly become popular, driving sales.
- Low Production Cost: Raw materials can be relatively inexpensive.
- Customization: From colors to finishes (matte, glossy), the possibilities are endless.
Lip gloss is a staple beauty product, whether you prefer the natural or glam look. It’s versatile and well-suited for various markets, making it a profitable side hustle option.
It’s hard to go wrong when it comes to lip gloss, especially with its formula and shade range.
Stick around to learn more about the ins and outs of a lip gloss business plan.
An Overview of Making Lip Gloss to Sell: A Primer
One of the easiest entryways to the beauty industry is by making lip gloss. The product is highly versatile when it comes to marketing tactics and finding a niche. You can sell an all-natural formula infused with shea butter, cocoa butter, and coconut oil that boasts health benefits.
In contrast, your brand can focus more on the plumping factor or incorporate glitzy and glamorous pinky-toned shades.
Either way, starting a lip gloss business is a profitable side hustle choice. It carries low startup costs, a high return on investment, and a chance for you to sell a product you believe in.
How Much Can Making Lip Gloss to Sell Earn You?
Lip gloss products are one of the most convenient and rewarding beauty items to make and sell. Unlike other cosmetics like eyeshadows and foundations, lip gloss doesn’t have to include a wide shade range to sell well.
In terms of profit potential, one lip gloss can cost $2.50 to produce. You can sell the lip product for double the price or more and get a high-earning 50% margin.
Now, if you plan on selling a high-end brand, your profit margin will likely increase to around 80% since the average luxury lip gloss goes for around $40.
During your first month or two of starting the business, you could sell around 4,000 units for $6 each. If it costs $2.50 to create the product, your profit will reach up to $14,000.
Over time, your lip gloss brand will gain more recognition and sell more units, leading to higher profit margins.
How Much Does it Cost to Start a Side Hustle Making Lip Gloss to Sell?
The cost of starting the beauty side hustle isn’t limited to the formula and lip gloss tubes. You also have to consider licensure and insurance costs during startup to comply with legal requirements.
Overall, here are the prime cost points to consider:
- Lip gloss formula
- Lip gloss tubes and packaging
- Marketing strategy
- Business License
Combined, these costs can tally up between $4,000 to $5,000. The amount mostly varies based on your lip gloss’ ingredients and packaging quality.
For example, adding castor oil, grapeseed oil, and other lip care products into your formula will cost you more than infusing vitamin E capsules instead.
Where Can You Sell Lip Gloss?
In this side hustle, you’re either the distributor or producer. Each business model operates differently and holds varied responsibilities.
Where Can You Independently Sell Lip Gloss?
Independently creating your lip gloss will give you more reign over the product’s shades, packaging, formula, and pricing.
If you choose to create a brand, you can purchase the ingredients and make the product at home or get a lip gloss starter kit.
Despite having more control over your business, you need a solid financial plan to complement it. Otherwise, you’ll risk spending more than you should and losing time and money.
Additionally, this business model is more suitable if you have previous experience in the beauty industry.
Gig Economy Companies/Platforms That Offer Lip Gloss Selling Side Hustle
Rather than rely on in-house productions, you can dropship and resell lip gloss through platforms like Shopify.
You can go through the print-on-demand route, where you create the packaging details of the brand, and the third-party seller bottles lip gloss with your design and sells it to customers.
One of the downsides involved in print-on-demand and dropshipping business models is that they tend to cost more in the long run and lower your profit margin.
Why You Should Consider Making Lip Gloss to Sell As a Side Hustle
You can benefit from several factors when starting your lip gloss side hustle, including the low startup costs and increase in market size.
- High Market Growth: In 2022, the lip gloss market was valued at a mammoth $3804.53 million. The industry is projecting a future growth reaching $5142.54 million in 2028, showing no sign of decline.
- Cheap Startup Costs: Starting a lip gloss brand is relatively cheap compared to other beauty products that require extensive research and effort on ingredient lists, formulation, and packaging.
- Little Experience Needed: You don’t need prior experience in the beauty industry to start your lip gloss company.
Problems With Making Lip Gloss to Sell
Before taking off with your beauty product venture, you’ll want to consider factors like standing out and finding reliable suppliers.
- High Competition: Since the business has low startup costs, you can expect several others to have the same idea. You’ll need to work harder to distinguish your brand from others, whether it’s through your marketing strategy or unique formula.
- Keeping Inventory: If you plan on producing lip gloss in-house, you need to create a solid inventory plan to store your unsold products.
- Locating Suppliers: You need to find trustworthy ingredient suppliers for your product. For this reason, you’ll want to extensively research private-label lip gloss companies and ensure their alignment with your brand.
Frequently Asked Questions
Can You Make Your Lip Gloss and Sell It?
As long as you comply with FDA regulations and business licensure requirements, you can make your lip gloss and sell it online or locally.
Is It Hard to Start a Lip Gloss Company?
Starting a lip gloss company doesn’t have to be difficult. Once you have a supplier, marketing plan, brand, and formula, it’s smooth sailing from there.