Multitasking comes easily to women, or so science has proven repeatedly over the last thirty years. Our brains are hardwired for juggling multiple tasks: editing a report for work while reheating last night’s leftovers and overseeing the construction of our kiddo’s science project out of the corner of our eye. Our to-do lists have to-do lists. We make to-do lists in our sleep. Then we get them to-done. We’re that good.
Another subset of thriving multitaskers are entrepreneurs, so it’s no surprise that everyone from Forbes to Fast Company has declared that this is the ‘Golden Age’ for women entrepreneurs with women-owned businesses up 30% from a decade ago.
One of the reasons for this rapid growth is women helping women. Women investing in and supporting other women-owned businesses, from women-only venture capital groups to savvy shoppers who want to support other girls-on-the-grind. This incredible shift is because we are beginning to lift each other up — how cool is that?
And that’s exactly what LuLaRoe, founded by a stay-at-home mother of seven (7. S-E-V-E-N. SEVEN.) wanted to do when she created a way to support her family and support other stay-at-home moms. Now these women are earning massive profits ranging from 45 – 60% of sales and if you’re here, you’re thinking you might want a piece of this action.
Here are your top 5 questions, answered:
- How do I apply?
You apply directly through a LuLaRoe consultant like myself. Once you submit your application, you are added to a waitlist to be on-boarded. It can take anywhere from 8 weeks to months for the application to be finalized, so don’t quit your day job just yet!
- How much does it cost?
There are three different startup packages available for purchase that range from $5,000 – 9,000 depending on the quantity and style of the inventory you’d like to begin with. You should also take into consideration the costs of business cards and other promotional materials, dress forms, clothing racks, hangers, and other merchandising items, as well as the cost of a website, advertising, and/or a logo. The average gal spends $6,000 on her LuLaRoe startup costs.
- How much will I make?
Ultimately you are the one who chooses the selling price for your merchandise, but you can expect to make between 30 – 60% of the sale price of each item. Those retail prices typically range from $18 – $65. The company pays for all shipping costs and will deliver more merchandise within 3 days of your order.
- How long will it take to repay my initial investment?
One party will typically net $300 in profit, with $15 in commission for every piece sold. If you sell at least 20 items at each party and spent $6,000 in startup costs, you should pay back your initial investment after 20 parties. If you host only one party every weekend and hit your numbers you could potentially make your money back in just over two months. I started turning a profit after just 6 weeks!
- Will LuLaRoe help me?
Yes, LuLaRoe will provide support because they, arguably more than anyone, want you to succeed. They provide guidance on how to price your items appropriately, even listing a minimum advertised price (MAP) for each and every item in your inventory.
LuLaRoe’s founder, DeAnne Stidham, holds weekly conference calls to offer sales tips and cheer you on. For sales support, the company provides an additional weekly training call where you can get tips on how to become a LuLaRoe party expert, market your business, and expand your network.
If you think you have the drive and passion to join this league of retailers, please reach out and I’d be happy to tell you more and help you get started on your new career with LuLaRoe. You can find me on my Facebook page and my VIP Facebook Group. Let’s support each other and DREAM BIG, ladies!
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