II.        Licenses required :

The licenses required in manufacturing nail polishes are :

·        Manufacturing license under drugs and cosmetics act 1940

·        NOC by state pollution control board

·        Registration under ROC

·        GST registration

·        PAN, Aadhar card

III.        Investment required

The investment required to start a manufacturing of nail polish would be between ₹3 lakhs – ₹ 5 lakhs

IV.        Profits made

The profit one would make through manufacturing nail polishes would be between ₹ 1 lakhs- ₹ 2 lakhs per month

 V.        Target consumers

The consumers on whom your nail polish marketing efforts could be targeted on are as follows :

·        Women ( 13-40 years of age ) : The women aged between 13 – 40 years could be your target customers. The women demand for nail polishes as an essential part of self-grooming and the girls, teenagers wear nail colour through an art which brings out their personality to make an appearance which stands out.

·        Nail salons : The nail polishes manufactured by you could be sold at a discounted price and in bulk to the nail salons which have customers coming to them with variations in demand in terms of colours, shades and appeals

·        Retail cosmetic shops : The nail polishes made by you could be sold to retail cosmetic shops which sell nail polishes along with lipsticks, eye make up products etc. Basically to attract a niche, who aren’t that picky to go to only a nail polish oriented shops.

·        Men : Yes, you heard it right. With growing diversification in clothing and apparel, bags for men, the nail polish market is also trying to attract the male population that could reflect the personality of man through the nail polish they wear. Ex: freelancing models, LGBTQ population etc could also become your target customers

·        Fashion industries : You could also cater the nail polishes you’ve manufactured to the fashion industries specially on runways, fashion shows etc so, you could launch your nail polish on that platform and acquire this customer base too

·        Online audiences : Consumers, between 18-30 years of age who lead a busy lifestyle but still likes to be sophisticated in their tastes, and prefer online shopping could witness the nail polishes you’ve manufactured under the label you sell it.

VI.        Area required

Area required in manufacturing nail polishes would be 700 – 1000 sq ft.

VII.        Raw materials required

The raw materials required in manufacturing nail polishes :

·        Cellulose nitrate

·        Plasticiser

·        Loban

·        Lakh

·        Camphor

·        Acetone

·        Ethyl alcohol

·        Colour

VIII.        Machinery required

The machine involved in nail polish manufacturing business :

·        Chemical blender

·        Weighing balances

·        Stainless steel mixer

·        Automatic liquid filling machine

·        Laboratory devices

IX.        Manpower required

The manpower required for the nail polish making business is as follows :

·        1- production manager

·        1- technician

·        1- researcher

·        2- skilled labour

·        5- unskilled labour

Moreover ample training to these members in terms of equipment usage, machine handling, safety and precautions measures etc just also be provided with.

 X.        Business model and growth :

The business model of the nail polish manufacturing business can be defined using 4 variants :

A.  Value proposition : The unique selling point and the value the nail polish manufacturing business brings in to you is :

·        That it is a part of the fast changing fashion industry so it has trends ending and developing, the demand is likely to last as long as the fashion industry exists

·        Secondly, the nail polish comes with reasonable pricing which is affordable by everyone removing the income barriers in targeting

B.  Target consumers : The target consumers to your nail polish manufacturing business would be

·        Women

·        Men

·        Nail salons

·        Fashion industry

·        Retail cosmetic shops

C.  Competitor review  : The basic Indian competitors for your nail polish manufacturing business would be

·        Aslot cosmetics

·        Nikole Kozmetics pvt ltd

·        Sunrise cosmetics

A.  Marketing strategy : The marketing strategy to market the nail polishes manufactured by you would be as follows :

·        You can market your nail polishes in terms of the manufacturing process ex : cruelty free, vegan nail polishes for those environmental activists nail polish consumers base, using a digit platform

·        You can develop advertising determine the shades, quality of your nail colour with a celebrity endorsing it to target the sophisticated status conscious consumers etc

Growth

The nail polish has witnessed and has the potential for growth in the fallowing ways :

·        The nail polish industry is project to grow at a CAGR over 10% to reach $ 143.6 million by 2024

·        With the growth in the level of disposable income and improved standard of living, and advent of social media in influencing the fashion choices of people the demand for nail care and grooming has increased the demand for nail polishes

XI.        Profit margin :

The profit margin one could receive by entering into the nail polish making business would be 20-25%

XII.        Suggestions :

While you browse about  the innumerable shades of nail polishes there exists we’ll guide you through some facts to get get your decision in order:

·        Firstly, nail polish is desired by 85% of the women population and comes at an affordable price making it more desirable and in demand to keep up with one’s lifestyle, keeping your sales up and rising

·        Secondly, the frequency of change in the trends of nail polishes diminishes its shelf life making consumers demand for the latest shade trending, giving you the benefit of fast moving inventory and High rate of return on investment

·        Lastly, The demand for nail polishes will never go out of fashion, so you’ll probably be in this for long, with minimal investment and ample profits