By Muhammad Riaz Usman Khaleej Times, Dubai, United Arab Emirates
WWR Article Summary (tl;dr) Sisters Nazanin Fara and Aida Farais have developed "Fara Beauty" into one of the biggest beauty brands in the middle east.
Having grown up in a business family, it was quite natural for Nazanin Fara and Aida Fara, co-founders of Fara Beauty, to start their own business at a very young age.
While the Fara sisters were looking for beauty products of their choice, they came up with a million-dollar business model.
"When we couldn't find what we were looking for, we started designing our own products. When Nazanin's degree in psychology and my business acumen got together, we realized the enormous potential of the Middle East market," Aida explains.
"We saw an opportunity and decided to launch our product line. But before launching our first product, we did extensive research to figure out the demand of consumers, their needs and expectations. My knowledge of human psychology helped me better understand the trends and requirements of modern women," Nazanin adds.
Fara Beauty, established in 2013, is a high-end cosmetics brand. Fara Beauty today is one of the most endearing names among beauty enthusiasts for products such as fake eyelashes, makeup brushes, 24 karat Rosehip oil, beauty sponges and face cleaning devices.
Nazanin recalls when she started Fara Beauty with her two sisters on a very small scale.
"With our personal savings, we started rolling the dice on this idea of starting our own cosmetic brand.
Thankfully, it has paid off. Today, we have a staff strength of 50 and shops in Dubai, Norway and Iran," Aida says.
Nazanin, also a beauty blogger with 2.2 million followers on Instagram, explains that Fara Beauty's website and outlets are a one-stop shop for cosmetic products.
She says that Fara Beauty focuses on quality and affordability. "It's difficult to find a brand with a perfect combination of all products but we have tried our best to achieve it," Nazanin says.
"We are currently working on some exciting products and launching our new cosmetic line in March 2018. It will be available through our website and cosmetic shops in the Middle East and Europe [UAE, Iran, Turkey, Norway, Germany and Italy]," she says.
The Fara sisters consider themselves fortunate to live in the UAE because it provides them opportunities for their business to flourish.
"The UAE is a young country and in a short period, its development and progress is marvelous. It provides ample opportunities for young entrepreneurs and go-getters to fulfill their dreams," says Aida.
"Dubai is a cosmopolitan city and the UAE is a leading country in the region for new ideas. I believe nowhere else could be better for us to launch our business," Nazanin observes.
"Dubai is the biggest market in the region and has a stable future. However, at the same time, the competition is huge because all big names in the world have their base in Dubai. Small businesses need to continuously evolve and innovate themselves to survive and flourish in the market," she says.
The Fara sisters advise young entrepreneurs to do their homework first before launching their ventures.
"Don't play games you don't understand, even if you see lots of other people are making money from them. Truly understanding your industry is key to having success. Do not give up. It's going to be tough, it's going to be hard, but do not give up. There is always hope around the corner. So, just stay in there and do your best to get what you want," Aida advises.
Nazanin's frequent travel between Europe and the Middle East provides her opportunities to experience the differences between skin types, choices and trends.
"I have been lucky to travel a lot for the past five years and have visited lots of professional makeup artists, cosmetic shops and brands. So, I took advice from successful people, chose the best and came up with Fara Beauty," she explains.
"People have different skin types and colors in Europe and the Middle East. In the Gulf, people use darker makeup while in Europe, people use lighter colors," she continues.
Disclosing her strategy to stay ahead in the competitive environment, Nazanin says: "I am trying to get stronger on social media every day and get support from other bloggers and celebrities. We are also participating in exhibitions to sell our products and find distributors in other countries."
Nazanin says that once she sets a goal, she never looks back. "Growing fast comes with a very steep learning curve. We learn something new each day and act accordingly. We never give up on our dreams and also have so much support from our family that we are not afraid of failing," she concludes.