I know what some of you are thinking right now- velvet hair scrunchies- really? You may remember these oversized hair ties from the mid-nineties. You probably wore one to keep your side ponytail in place with one an additional on your wrist to complete your effortless outfit of vibrant colored bike shorts and an oversized men’s t-shirt… bonus points if there was tie-dye and a plastic t-shirt ring involved. Now that we are all on the same page, these babies have come back into style! In the past year, scrunchies have been gracing the pages of magazines, editorial photoshoots, even appearing in high-end boutiques.
So can you really make money selling velvet hair scrunchies? YES. Just last month my husband and I were in LA browsing very stylish (and out of my price range) boutiques. In one of the boutiques was a small bowl of beautiful silk scrunchies. After noticing the alarming price ($48 each), I made a sly comment to my husband about them being outrageously expensive. At that moment, a woman reached around me to pick out her favorite three before heading up to the register. Yes, roughly $150- for three hair scrunchies!
This does not mean that you will regularly sell $48 hair accessories. While it is absolutely possible, the $6-$10 range feels a bit more realistic. Selling $6-$10 items may not appeal to everyone, but with this particular item, the profit margin is incredibly high. This makes it quite likely that customers will be purchasing more than one hair tie, giving you the opportunity to offer sets of scrunchies- making it easier for your customer to spend more money with you. In addition, lower-priced items are often an easy sell. How often have you thought to yourself “I don’t really need it, but it’s only $10”? If you have had this thought, the others certainly have too. I know I have on too many occasions.
So what’s the key to selling individual hair ties at a slightly high price? Keep them classy. Luxury fabrics like velvet and silk are on-trend and seem to be in high demand. The quality of the fabric will help commandeer a higher selling price in addition to offering styles and colors not commonly found in other shops.
FOR THIS TUTORIAL YOU WILL NEED:
18” x 4” piece of fabric (per scrunchie)
8-9” ¼ inch elastic
Tip: Lightweight or thinner fabrics with a good drape are best for this project as they do not create a lot of heft to the finished piece. Look for drape by holding the fabric by the corner. Structured folds and a crisp feel won’t look quite as nice when finished as a fabric with loose and billowy folds. Watch the video below for the full tutorial as well as tips and tricks for photographing, marketing, and shipping your scrunchies. Stick around until the end for a breakdown of the three P’s- price, profit, and popularity.
Watch the video below for the full tutorial as well as tips and tricks for photographing, marketing, and shipping your scrunchies. Stick around until the end for a breakdown of the three P’s- price, profit, and popularity.
Feeling inspired to create, but perhaps looking for a different project? Check out our list of craft tutorials for some inspiration!