Business Idea

Start A Mens Grooming Product

About

Starting a mens grooming product requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell men's grooming products, or selling men's grooming products online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start a mens grooming product ➜

Key stats

market size
$60.7B
revenue (monthly)
$145K
starting costs
$44.3K
gross margin
70%
avg product price
$20
time to build
10 months
growth
SEO
time investment
Side project

About

Starting a mens grooming product requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell men's grooming products, or selling men's grooming products online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start a mens grooming product ➜

Key stats

market size
$60.7B
revenue (monthly)
$145K
starting costs
$44.3K
gross margin
70%

 

avg product price
$20
time to build
10 months
growth
SEO
time investment
Side project

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $750 $7,000
Employee & Freelancer Expenses $151 $352
Equipment & Supply Expenses $566 $5,700
Website Costs $303 $7,215
Business Formation Fees $5,600 $20,400
Retail Business Expenses $1,250 $11,650
Inventory Expenses $350 $14,750
Software Expenses $162 $3,094
Advertising & Marketing Costs $75 $5,286
Other Expenses $0 $800
Total Startup Costs $9,207 $76,247

Successful Businesses

Business URL Rank
MensXP Shop shop.mensxp.com #12,011
TOM FORD tomford.com #28,107
Gillette gillette.com #77,522
Nykaa Man nykaaman.com #113,815
The Art of Shaving theartofshaving.com #135,724
Ustraa Grooming for Men ustraa.com #136,102
Cremo cremocompany.com #180,727
MALIN+GOETZ malinandgoetz.com #202,238
Just for Men justformen.com #216,294
Remington Products remingtonproducts.com #223,388
Classic Shaving classicshaving.com #226,847

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
Meaningful business connections You never know who you will meet as a mens grooming product. This could be the start of an incredible business opportunity!
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
High margins The gross margins for your mens grooming product are typically around 70%, which is considerably high and allows you to grow your business and manage costs easily.
Easy to encourage "impulse buy" In the mens grooming product, you have a much higher chance of encouraging your customers to buy on impulse - you can easily alter the price, placement, packaging, and promotional value to influence the decision of your buyer.
Cons Description
Longer Sales Process A mens grooming product can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
High employee turnover In the mens grooming product, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.
Taxes As a mens grooming product, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
Niche Market A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.
You may need to charge sales tax If you are selling your products in various states, you may be required to charge sales tax. Although this may not impact your financials specifically, it can be a headache to create a process and procedure for this. To learn more about sales tax, check out [this article](https://www.thebalancesmb.com/do-i-need-to-collect-sales-taxes-in-my-state-398913)
Churn In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.

Marketing Ideas

  • 1

    Direct sales

    Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.

    For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.

  • 2

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.

  • 3

    Social Media Advertising

    Social media advertising is the use of social media platforms to connect with your audience with the objective to build your brand, increase sales, and drive website traffic.

    According to Oberlo, approximately 48% of the global population use social media, and the number is ever-growing.

    Therefore, social media allows brands access to cost-effective advertising by enabling them to interact with a large audience.

    Learn more about social media advertising ➜