Is It Better To Have Affordable Brazilian Hair Or Raw Hair To Start Selling Hair?

Welcome back glimmer gang, I'm here to answer more business questions for you guys concerning the hair industry, and I really appreciate you guys. Even putting your comments down below my goal is to help as many people as possible. So if you have any questions, make sure you place your comment down below, don't be afraid if that means using somebody else, YouTube channel or making up a brand new one, because you don't want anybody to see your name. Do that or shoot me an email? Okay, I'm willing to answer as many questions as I can. So this question came from Z tayo. I believe. That'S how you say your name and that question is: is it better to sell cheaper hair like Brazilian, so people can afford it or expensive high quality raw hair that few people can buy very good question? I'M so happy that you asked me this question. This is very a very good question. I want to start selling quality hair extensions, but in order to make a profit, the pricing won't be affordable for most people. Now I say this all the time on my second youtube channel, which in soda see if you guys have not started if you guys have not subscribed to that channel. This is the channel here now. This is a two-part question that I'm going to respond to. Is it better to sell cheaper hair like Brazilian, so people can't afford it? I mean I'm considering you're suggesting most people can afford this hair or expensive, high-quality raw hair that fewer people can buy. Now this is the thing with you wanting to go into business. For yourself, this is what I always say on my so deceit channel before you do anything. You should first know who your audiences well, you do not understand your audience. You do not know who those people are. It will reflect itself when you start your business. You open it up, and people can now see your website. They can now see your prices when you start getting people who say your prices are too high. That means that your marketing to the wrong audience - or you pick the product that does not match your real audience or your target audience. These are the people that support you. Your audience are the people who watch you who may see you on Facebook. Who may see you on Instagram, who may even see you out of public, maybe you're, just a social light and people always comment you on your hair and now you want to start selling hair, who knows, but those people who are asking you that you have to Ask those people your target: are they your ideal audience? What do you want? It isn't necessarily all about what you want as a business owner, but it's also about what your audience, your customers, your clients, want as well. So you have to start Exynos questions prior to ever picking the product that you want to sell to the public. Now I would say this behind me mentioning that you know what you want your brand to look like. You know what you want your brand to stand for, so if, for your brand, you want to sell higher priced quality products like Roe hair. That means you have to personally seek out their audience now. This is a thing, especially if you're, I would say, someone 18 to 25, and you want to go into selling hair for yourself. Your peers are probably gon na, be the people that you look at the most and ideal customers and clients cuz. These are the people that you're around every day, you see the type of hair that they wear. Even if they look at your hair and they love it, majority of the time 18 to 25 is high school and college unless they have their own business within those those age groups. But majority of that age group is going to be high school and college students or freshly graduating college students trying to get in their career and get their foot on the ground, because now they really have to get used to being out in the real world without Their parents does this make sense. So if that is your ideal client, your ideal customer your target audience, you have to understand that that audience nine times out of ten will not be purchasing raw hair. So hopefully they give you some type of idea of where you stand just because you're 19 doesn't mean that all of your friends and people within their age group, not all of them, because there are outlyer of females and males in that age group who will purchase Raw hair as well because they have been my customers - I have so many girls, that's on college campuses that that were foot soldiers for me on college camp and those other girls was coming to purchase hair. For me, it may just be when they get their student. A refund, but when they get their refund, they're purchasing two separate textures and closures and frontals as we'll. So I'm not saying that it isn't possible to sell to this age group. I'M saying the amount of people within this age group may be lower than a higher age group. So if you're 19, 20 21 and your goal is and sell raw hair, you have to start put putting yourself in a position to reach the people. Your target audience. Your customers, your clients, who can actually afford what you're selling okay, so I'm not gon na - tell you that I think it's better to sell cheaper hair instead of raw hair, because most people assume well most people can't afford less expensive hair and I'm gon na give You guys some calculations, okay, so you can see what the difference is and why you have to understand the business behind being in business. Okay. This is all psychological when it comes to being in business, so the second part was: I want to start selling quality hair extensions, but in order to make a profit, the pricing won't be affordable for most. That still goes back to your target audience who are most? Who are most people? These are the type of things that you need to keep educating yourself about, because you want to go into business and I'm gon na cover that later on in this video, because I want to answer your questions first, so raw hair versus less expensive hair, because most People won't be able to afford it. So let me give you guys a couple of mathematical equations, so you can understand that just because you sell less expensive, hair doesn't mean that you're going to make more money. So I'm assuming that you say, is it better to sell less expensive hair because more people can't afford it is that you think that you're gon na necessarily make more money, because you could reach a bigger audience correct. So this is what I want to give you say your average ticket sell for a customer that comes to your website and purchase here. The average ticket sale is two thirty dollars. Okay - and I got my calculator here with me - two hundred and thirty dollars and you have ten customers, so we already know that 230 times ten is $ 2,300. Let'S compare your company to someone who sells a higher quality higher priced product. Their average ticket sale may be $ 600, so we're gon na multiply to 600 times ten, so we know that they make $ 6,000. So that means your ten customers made you 2300, while they're 10 customers made them $ 6,000. So you guys have the same amount of customers but they're, making more money to you reaching the same amount. Now, on top of that, let's say because their prices are higher. They are not going to get as many customers as you, okay, because you're assuming that, because my product is more affordable, I'm going to be able to reach more people correct. So let's say you did 20 customers and your average ticket price is 230 dollars. You still only made $ 4,600 why they still made $ 6,000 when half of the customers that you got for your own company. Okay, so let's say 230. This is on average, because some people you some people tickets, maybe $ 400 - some people receipts may say 210 or 75 dollars, depending on what they're purchasing from you. But I'm saying on the average like when you look at business from the back end on average. This is what your customers are spending, so if your average ticket sale is 230 dollars and for the past six months you brought in 300 customers, you will have made sixty nine thousand dollars. Okay, now their average ticket sale is six hundred dollars and they're only bringing in half of those 300 customers. Okay, so they brought in 150. So you made sixty nine thousand dollars why they made ninety thousand so you're having to bring in way more customers than they have to bring in in order to make even close to what they're making does this make sense? So if you decide to go into selling a higher price ticket, that means you have to first know what your audience is be able to reach their audience and with this because you're you're not worried about bringing in as many customers. This is like an exclusive group. You know how people say: oh you can't sit with us just a whole worldly mentality or whatever, but that's the idea of this people by Gucci, because with that group of people feel like Gucci means to them people going by Louis Vuitton in these groups, because what It means to them so someone else in this other group and I'm not making in comparison like one is better than the other, because I don't really feel that way. But someone in this group is still gon na always look at this group like this is the ultimate thing to Gig. So, although you may be getting more of these customers depending on how these companies over here are advertising their products, your customers can still become their customers, but nine times out of ten their customers are not gon na come over here to shop with you, because they Don'T want that that doesn't mean that doesn't meet their idea of what luxury is, and there is a large group, regardless of what society tells you or your peer group tell you, because nine times out of ten, if you're, young, you're listening to young people and what They have to say and their limited experiences on the world and how things work. You know, and that's just how it is. Of course I started when I was young started to hang around older people and people who were doing more than me because the people my age couldn't tell me anything. So I have to get my knowledge from someone who already been where I've been and can tell me how to grow. Does that make sense so surround yourself around people who are not necessarily in your your clothes peer group? I couldn't think of a word. I could think of a word, so they don't have to have a lot of people to make a lot of money, and just because you have less people doesn't necessarily mean that you're going to make as much as them. Not only that these are the things that you're going to run into when you sacrifice quality for the see of customers that you can reach what you will find out and I'm not saying that all people who sell all companies who sell presenting in your hair has The words hair - it's always gon na tangle. It'S always gon na make. No I'm not saying that there are some good companies in that group as well. So if you feel like you can find a good vendor that matches the affordable ideology for your brand, let's stick with those companies, I'm not comparing the two. I'M only giving you information so that when you're ready to start your business, you can make a sound decision and understand what you're doing when you go into it and you don't waste a whole bunch of time and money. Okay, that's my goal here with this video. So the issues you're gon na run into if you sacrifice on quality is a whole bunch of customers complaining about the quality that whatever people say about hair and the things that they don't like. You'Re gon na deal with a whole bunch of returns and returns. Our big issue with on-time online retailers and you can google that to find out more information, so that means you're also losing money. Think about the reputation of your brand. Now I did this. I actually did a cup. I actually did a video on this topic about customer service and dealing with customers and complaints and things and showed you guys real-life examples on how every single customer every single brand on earth have had an experience with customers who were not happy with what they received. That part is inevitable, however, again back to sacrificing quality, also understand the other things that you will run into, should you select lower quality or cheaper because that's or inexpensive hair, as you say, you have to understand. As I said in my previous video that anytime, you purchase luxury, it's going to show in the price, there is no way around that, regardless of what type of dreams people try to sell you guys and all these little gimmicks, if you want high quality you're going To pay the price that goes for your house, your shoes, your clothes, your car, a business that you want to get into you're gon na pay, the price. That'S what they say you got. Ta say you got: ta pay the cost to be the boss. If you want to be the bow since we're all here, if you want to be the boss, you're gon na have to pay the cold. That'S just what it is and if you wan na wear it you're gon na have to pay it as well. But I'm not sure where you live, but I live in Charlotte, North Carolina and prior to me even moving here. I had people from all over the world who were shopping with my store. Okay, I no longer do retail, don't think about just the people who are in front of you. If you have a website, if you have Instagram Facebook YouTube the whole world is your stomping ground. You got the whole world to sell your product to so don't get tricked by thinking that, because my limited peer group can't afford what I want to sell for my brand in the vision. I have for my brand that you can't make it happen, because there are a lot of people, and I just told you just from 150 customers and that's not a lot of customers. If you come. If you divide that into the weeks of the year, but even with 150 customers, you just made $ 90,000. That'S like this close to a six-figure income. Now, of course, some of that money is gon na go back into your expenses and things of that nature. However, imagine if you got 300 customers that year, you don't pass the six-figure mark. Okay and that's because you chose a product, you don't have to worry as much as far as refunds, and you know messing up your reputation with your brand cause. So many people are complaining about tangling and Menten and things of that nature so yeah tangent. But I want because it looks like I've already been on here for almost 17 minutes, so I'm probably gon na chopper screw this video and I hope that this was informative and again, if you guys have any other questions that you need answered absurd from me, make Sure you place those down below in the comment section thumbs. This video up and I'm gon na say subscribe, because I'm really not doing a whole bunch of videos on this channel anymore. But if you want to, you can do that as well. I just appreciate you for watching and submitting your questions to me so that I can help you guys and give back when God gives to us. He expect for us to give so he can keep giving okay. I love you guys. Turning in and I see you in the next one - maybe