New Black-Owned Beauty Supply Store Opens Door To Generational Wealth

Lakeisha DePeyster has turned her dreams of having a family-owned business into reality with a new beauty supply store in Marietta, Ga. She opened the doors to Queen’s Boutique & Beauty Supply last month on Juneteenth with a special gift of ownership to her daughter.

[SEE ALSO: Black-Owned Beauty Supply Stores Will Soon Have Access To A New Distribution Network]

DePeyster has also joined the growing ranks of Black entrepreneurs looking to level the playing field in beauty retail. Though African Americans make up 86% of total sales on ethnic hair and beauty needs and spend upwards of $500 billion on total beauty buys, we are the least represented.

That is especially true in the beauty supply stores business where Black owners account for about 7 percent of the market share. This is due to lack of resources, as well as lockouts by non-Black distribution networks that either refuse to sell products or set discriminatory purchasing minimums.

DePeyster, however, was undeterred. Armed with a background in real estate and business management, she researched resources and support via social media groups. She established relationships with current store owners to tap into their networks to purchase products.

Her boutique is now chock full of in-demand brands and growing. She has even managed to secure a few of her own brand accounts. We caught up the with newly minted store owner to find out the inspiration behind her business move and the impact she hopes to make in her family and the industry.

SADIAA: First, congratulations! How does it feel to open the doors to your own business? 
Lakeisha DePeyster: It feels amazing! Especially to see my vision come true.

SADIAA: What inspired you to open up a beauty supply store? 
LP: I always wanted to own a business and start a legacy I could pass on to my children and grandchildren. I wasn’t sure exactly what and then I thought about what could survive the ups and downs of the economy. Beauty is that business, women always want to look and feel beautiful. So, I decided in 2019 to start researching the apparel and beauty supply business to be sure that it was what I wanted to do and the doors started opening up from there.

SADIAA: Are you the sole owner?
LP: My daughter is a 10% partner, as well as the store manager. That was my gift to her as a graduation present. I retain the 90%. She runs the day and on the weekdays.

SADIAA: That is awesome! How does it feel to literally open a new door for her economic future?
LP: It has been great working with her and opening a door for a field that we are both passionate about. She just graduated and we both have degrees in business management. We are the first from my grandmothers’ kids to have a mother and daughter with degrees!

SADIAA: How long did it take to get open?
LP: I started with the idea in the summer of last year and researched it.

SADIAA: What was the process like?
LP: In January I started buying inventory and furniture which I stored at my house. I finally found a place in February. Then, I bought out another beauty supply store inventory in March, while looking for a place. I signed the lease on my birthday, on April 28, and received the keys and started working from there. Once I received the keys, it took me almost two months.

SADIAA: Your business seems to be a one-stop-shop. Besides haircare products, what else can consumers find?
LP: I sell apparel, shoes, jewelry, perfume, cosmetics, wigs, hairpieces, weaves and more. I figured why go to the mall — I have everything a woman needs.

SADIAA: How has business been so far?
LP: Since we opened had been very receptive nothing but positive feedback and we try to make sure whatever we didn’t have the first time we will definitely have it the next. They love having a boutique and beauty supply store all in one.

SADIAA: What was your biggest challenge? 
LP: The most challenging is the hair vendors who don’t want to work with you because the Asian stores are within a certain mile radius. And, not having Black distributors for the popular hair everyone buys. I do go through my Black beauty supply owners via a third party who do have those accounts.   

SADIAA: Why do you think it’s important for more Black-ownership of these types of stores? 
LP: All other cultures realize how important we are and what our buying power is. Why not build a legacy for each other for us, and by us, and stop letting people take advantage of all we have to offer? Although we are the minority race in the U.S., we have so much power. We need to show this generation we can come together and build together.

SADIAA: What one thing do you wish you knew before getting started?
LP: Starting my vendor applications earlier and advertising earlier. 

SADIAA: Top goal for the next year?
LP: To be the number-one destination for hair, beauty and apparel needs.

SADIAA: What advice would you give to someone looking to follow in you footsteps?
LP: I am fortunate to be in real estate so lease negotiation and location are key. Make sure you read your lease in it’s entirety and ask plenty of questions and don’t be afraid to negotiate everything in the lease.

Queen’s Boutique & Beauty Supply Store is located at 2365 Powder Springs Road, Suite 1133 in Marietta, GA.

Find Queen’s and more beauty supply stores in our directory dedicated to Black-owned beauty supply stores.