Makeup Artist Business Plan [Sample Template]
By: Author Tony Martins Ajaero
Home » Business ideas » Beauty Care Industry » Makeup Artist
Are you about starting a makeup artist studio? If YES, here is a complete sample makeup artist business plan template and feasibility report you can use for FREE .
Makeup artists are creative individuals who use cosmetics to transform their clients depending on the occasion the client needs the makeup for. Usually, makeup artists work by themselves which makes it sometimes difficult for their income to be regular, except they go into certain niche areas such as carrying out makeups for models or becoming movie makeup artists.
Either way, a makeup artist in order to create a sustainable flow of income will need to be in as much niches as possible.
While this might be an artistry kind of task, making a business out of it would require following certain business rules just like any regular kind of business. While writing a business plan might seem difficult and intimidating for a creative individual, there are two options available to you.
You can hire a business plan writer to write one for you for a fee, but If however you are running on a tight budget, there are free business plan templates online that you can use in writing a comprehensive business plan for yourself. In fact, below is a sample makeup artist business plan template.
A Sample Makeup Artist Business Plan Template
1. industry overview.
The social media and technology has caused evolutionary trends in beauty and this has made it easier for makeup artists to not only re-invent looks but also create innovative ideas , making the industry a fast-paced one. Makeup artists prepare actors for performances and also create special makeup effects.
Asides this, makeup artists also work in the fashion industry. Lots of opportunities exist in Los Angeles, New York, Chicago and Miami.
As at 2012, we had about 3,000 makeup artists, and most were employed by the motion pictures and television broadcasting industries. However, most of those who are employed are also self-employed, as their jobs usually last for a short period of time.
To become a professional makeup artist , training in a school of cosmetology is required and this can last between several months and a year. According to the united states Bureau of Labor Statistics, employment of makeup artists will grow slowly through 2022, when compared to other occupations.
The reason for this slow growth has been attributed to the fact that most makeup artists, especially those in the motion picture industries are being replaced by Computer Generated Imagery (CGI). According to Makeup artists and hairstylists guild, as at 2014, makeup artists averagely earned $44,310, with most paid hourly.
Makeup artists who however worked in mortuaries earned 22% higher salaries than their counterparts in other industries.
2. Executive Summary
Shae’s Touch Studios is a national and international makeup studio that is located in Bay Island – California here in the United States of America and intends to cater to corporate and domestic clients. We intend to offer makeup services and trainings to our clients, as well as other services in our line of business.
We are in business to not only make profit but also to compete favorably with similar business (startups or established) here in California and also all over the United States of America. Our vision is not only to meet the expectations of our clients and exceed it but also to become a national and international brand.
We intend to not only concentrate on our core offering; this means that we would be offering other services that are intended to boost our income and make us have a healthy bottom line in which to sustain our business. Our promotional strategies are top notch as we already have a popular channel on YouTube where we give tips and advice to our audience. We also give out trainings to our international clients.
Our customers are very important to us and so we intend to leave them fully satisfied with our services. We would be offering discounts and incentives intended to keep our loyal customers with us while also luring away clients from our competitors to us.
We have built a solid business structure because we intend to start with as few hitches as possible. We have sourced for competent and qualified staff who understand the business thoroughly and will do all they can to ensure that we get to the top. Our staff are the best in the field.
We have the best welfare packages for our employees better than what their counterparts are getting in similar startups such as ours. We also offer several other incentives to our employees as this is an effective way of ensuring that they remain motivated and dedicated to helping us achieve our goals and objectives.
Our Chief Executive Officer, Ms. Shae Lannister is a renowned makeup artist who has made up several celebrities both here in California and other states as well. She has several certifications and is always pushing herself to achieve more. She therefore understands what paths we need to follow to help us get to the top and achieve all our corporate goals and objectives.
3. Our Products and Services
Shae’s Touch Studios intends to deliver to its customers various services and products from its primary location here in Bay Island – California. Even though our core source of income is making up our clients, we intend to consult for our clients and also train them as well.
All the different services that we intend offering and the profits to be made from them are all under the permissible laws of the United States of America. Below are some of the services we intend to offer and the products we intend to sell;
- Offering of makeup services (for weddings, special occasions, on movie sets) to our various clients
- Sale of our own makeup products produced by us
- Distributing for branded products
- Consultancy and advisory services
4. Our Mission and Vision Statement
- Our vision is to ensure that we not only meet but exceed the expectations of our clients no matter what those expectations are.
- We also intend to become a national and international brand by the year 2019.
- In achieving our vision, we intend to hire creative makeup artists who are also instinctive and understand what it is our clients want, and ensure that they get what it is they want.
Our Business Structure
Having a solid business structure is very important to our business and we take it very seriously because we know that this would allow us start and run our business with as few hitches as possible. Our plans are to run a standard makeup studio and so we intend to get it right from the beginning so that things can flow seamlessly, and that is why we are looking to employ only the best to work with us in our makeup studio.
Because of the standard that we have set for ourselves, we are willing to ensure that we employ competent and hardworking staff who understand our business specifically and the industry at large so as to take our business from where we are to where we ought to be.
Also, the staff we employ must be dedicated and ensure that they communicate our brand positively at all times. However, due to the fact that we are going to be offering varied services more than a regular makeup business, we intend to hire more staff than conventional to be able to handle the various positions and tasks that is likely to crop up during the course of running our business.
Shae’s Touch Studios will go all out to ensure that our business structure is solid. Below therefore is the business structure that we intend to build at Shae’s Touch Studios;
Chief Executive Officer
Admin Manager and Human Resources
Quality Assurance Manager
Marketing and Sales Executives
Front Desk Officer
5. Job Roles and Responsibilities
- Takes key decisions and actions that would affect the overall growth and sustainability of the business
- Ensures that organizational policies are effectively implemented
- Drafts the budget and ensures that it achieves full implementation
- Meets with valuable clients on behalf of the company
- In charge of ensuring that all the administrative functions of the business run smoothly
- Recruits competent employees on behalf of the studio
- Ensures that employees receive great welfare packages and also undergo trainings as at when necessary
- In charge of certain projects undertaken by the studio
- Ensures that the brand makeup produced by the studio is standard industry-wise
- In charge of all makeup artists in the studio
- Creates and sources for profitable niches on behalf of the company
- Is updated on industry trends so as to meet and exceed the expectations of clients
- Ensures that make-ups gotten are of high standard
- Liaises with brands and ensures that the company gets the best deals
- In charge of preparing account and financial statements on behalf of the firm
- Ensures that tax documents are accurately prepared and sent to the right authorities
- Ensures that the books of the company are reconciled with that of the bank and that all details are correct.
- Conducts market research to determine new target markets on behalf of the company
- Drafts and implements effective marketing strategies on behalf of the company
- Conducts one on one marketing and sales on behalf of the company
- Attends to all enquiries, bookings, complaints and feedbacks from clients
- Should be updated on industry trends and organizational policies so as to offer clients accurate information
- Keeps an accurate and updated customer database on behalf of the company
- Ensures that all the products are intact and accounted for
- Ensures that the store remains well ventilated and secured at all times
- Ensures that light repairs and maintenance are carried out as at when due
- Ensures that the premise is kept clean at all times
- Ensures that cleaning supplies are always in stock
- Carries out any other duties as might be determined by the administrative manager
- Helps deliver and supply products to the studio
- Carries out light maintenance on the vehicle when and where necessary
- Carries out any instruction by the human resources manager
6. SWOT Analysis
Due to our intention of ensuring that we run a standard makeup business, we have engaged the finest business consultants here in Bay Island – California to help look through our business concept and determine how likely we are to succeed in the business we intend starting.
The business consultant looked through using a popular analysis that allows businesses know how likely they are to survive in the business they are going into and how favorably they would compete against competitors in the same industry,
In view of this, our strengths, weaknesses, opportunities and threats we were likely to be exposed to while starting our business here in Bay Island – California as well as all over the United States of America, were judged. Below is the result of the SWOT analysis that was thoroughly conducted on behalf of Shae’s Touch Studio.
Our strengths lie in the fact that we are offering several makeup services at the same time to our various customers, allowing us to meet the diverse needs of our customers.
All our makeup artists are not only well trained but have professional certifications as well, which means that we are more than likely to not only met but exceed the expectations of our customers, because we are able to handle whatever requests they may have.
Our other staff are also competent, dedicated and understand that we do not only want to be a national brand but an international one as well, and are working hard to ensure that we achieve this.
We have great welfare packages for our employees leading them to remain motivated to our brand and also ensuring that our customers retain loyalty to our brand through the attitude of our staff. Also, our chief executive officer is not only very experienced but has the necessary contacts that will help us quickly achieve our objectives.
We are a relatively new business and as such we have not yet gained much depth into the market as we would have liked. We also do not have all the staff or the finances necessary to deliver all the services we hope to deliver.
Makeup is used for a variety of purposes from weddings, occasions to movies and so much more, and so there are many opportunities available for us in this industry as more target markets that would require our services are yet to be tapped into by us. Also, the growing economy means more people will be willing to patronize our services or buy products from us.
There are several threats that we face as a growing company such as an arrival of a major competitor to the same location we are operating from leading to a reduction in the number of customers we are likely to have. Also, an economic downturn is likely to be a threat to our businesses because this would mean more people trying to apply makeup themselves than approaching a professional to help them out.
7. MARKET ANALYSIS
- Market Trends
Makeup is not really a new occupation as it has existed from time past, the only difference now is that it has become an occupation where makeup artists have to not only learn to recreate looks and make their clients into what they want to be but also ensure that their clients are satisfied and have their expectations not only met but exceeded.
Also, due to the different seasons, makeup artists have to learn appropriate makeups for each season as well as occasion. California is a glamorous place because most celebrities reside here, from movie stars to artistes and other kinds of celebrities and so would always require the services of make-up artists for whatever reason.
This would require any makeup artist intending to start in the California area to network and partner with some fashion designers so as to get the needed clients.
Finally, technology has come to play a huge role in the makeup industry as makeup artists can try out makeup shades on faces in the computer and know which look might likely fit their client before meeting the client. This has led to a high level of satisfaction for both parties.
8. Our Target Market
Almost everyone uses makeup especially for special occasions, events and other purposes and therefore require the services of a make-up artist to be able to get the look they want. While women might chiefly look like our target market, but we cannot restrict our target market to just this group.
In view of this, we have conducted a market research in order to fully understand the market we intend entering and what we should expect from our target market, while also having an idea of what they would be expecting from us. To this effect, we therefore are in business, from our findings to offer our services to the following group of people;
- Actors and actresses
- Movie stars
- And every other uncategorized target market
Our competitive advantage
We understand the power of makeup and our intention is therefore to build a business that is not only a national brand but an international brand as well.
Our intention is to become the preferred company for our target market not only here in Bay Island but all over California as well as the whole United States of America. To however achieve this, we have several competitive strategies in mind.
We are going to be offering diverse services in our Makeup Studio, this means that we would not only make customers up for weddings, special occasions, on movie sets but we will also sell products that our clients can use and also offer trainings and consultancy services as well.
Another competitive advantage we have is the vast experience of our management team. This experience is highly necessary as it means that all the management staff understands how to help make our brand the best not only nationally but also internationally.
Our management staff also understands our corporate foundation and culture and will do all it can to ensure that this culture is understood and implemented by the lower end staff. Another competitive advantage is the fact that our customers’ expectations are not only met but exceeded as well, leading to high customer satisfaction, retention and loyalty.
Lastly, our employees are also our internal customers and are treated right because this would make them remain motivated and dedicated to the company. We ensure that our employees are well paid and that they have other benefits that make them better than their counterparts in similar industry such as ours all over the United States of America.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Shae’s Touch Studio just like any other business has been established with the sole intention of making profit that will be used in growing and sustaining the business here in Bay Island – California and also all over the United States of America and even beyond our country’s borders.
We therefore intend to generate income by offering the following services and selling the following products;
- Distribution of branded products
10. Sales Forecast
Everyone makes up, but the usage might differ depending on the preference of the individual and the occasion; this therefore means that there will always be demand for either makeup products or makeup application services.
California is a dream place for any makeup artist as not only are there more glamorous individuals here, there are also more celebrities, which means that we are optimistic of meeting our set target within eight months of starting and growing our business, due to the strategic location which we selected.
After critically examining this industry and our chances of making it, using several data and assumptions from similar startups such as ours; we were able to come up with the following sales forecast. Below therefore are the likely projections that we have determined for Shae’s Touch Studios based on several facts and data that were made available to us;
- First Fiscal Year-: $300,000
- Second Fiscal Year-: $500,000
- Third Fiscal Year-: $900,000
N.B : It should be noted that the projections done by us were based on what is obtainable in the industry as at the time the data and assumptions were gathered from similar businesses such as ours.
The assumptions used were that we would not experience any major economic meltdown that will allow less patronage from our customers and that there won’t be an arrival of any major competitor in the same location we are offering our business.
Should any of the assumptions change, it would have an effect on the figures posted which could either result into an increase or decrease.
- Marketing Strategy and Sales Strategy
While generating capital and choosing a suitable location for our makeup business is highly important, marketing is also very important as well because if we do not thoroughly market our business, we would not only fail to attract customers to patronize our services but we would also not generate revenue to grow and sustain our business.
Marketing not only generates revenue and brings in more customers for a business, it is also a way of ensuring that the company is positively communicated to the public and can also effectively compete against its competitors in the industry.
Because of how serious this aspect of business is, we have hired a marketing consultant who is not only reputable but who has vast experience regarding our type of business in order to help us conduct thorough market research that would allow us penetrate the market.
The information gotten would then be used to structure our business in such a way as to attract the customers we need. The marketing consultant will help us develop our marketing strategies so that we will be able to attain our goal of not only penetrating the market but getting a huge chunk of the target market to patronize our brand and services.
We have also empowered our marketing and sales team to draft and modify effective marketing strategies that will help deliver our corporate sales goals. This way we would conveniently grow and sustain our business effectively. In summary, below are the sales and marketing strategies that would be adopted by Shae’s Touch Studios;
- Start by throwing a mock makeup contest grand opening party in order to increase our awareness in the community where we intend starting our business.
- Introduce our makeup business to corporate bodies, individuals and other stakeholders in the industry.
- Engage in direct marketing and sales.
- Encourage our loyal customers to refer our brand to others.
- Market our brand online via our social media platforms (Facebook, Twitter, Instagram and Snapchat) as well as on our website and other related blogs.
- Ensure that we advertise Shae Touch Studios in local newspapers and magazines, and on radio and television stations as well.
11. Publicity and Advertising Strategy
Having the right publicity is very paramount to our kind of business and this involves exploring all the means necessary via conventional and unconventional methods. Ensuring that we get the right publicity for our business so that we could effectively compete with brands whilst also becoming a force to reckoned with in the industry; has led us to hire a brand consultant.
The brand consultant who has a vast knowledge of how to promote businesses such as ours will help develop publicity strategies that will deliberately project our brand and ensure that our target market are easily able to differentiate our brand from that of our competitors.
The publicity and advertising strategies will also help to effectively communicate our brand to our intended audience. Below are the platforms we intend leveraging on in order to promote and advertise Shae’s Touch Studios;
- Use social media platforms such as Instagram, Snapchat, Facebook and Twitter to promote our business
- Use Youtube to showcase our training sessions so as to attract more customers
- Attend several conventions and participate in several seminars in order to promote our brand
- Throw contests online in order to promote our brand
- Ensure that our staff members wear our company’s customized tee-shirts either in the store or during field work
- Distribute our handbills and fliers in strategic locations
12. Our Pricing Strategy
Setting the right rates for our products and services is very important because not only do we want to be affordable to our target market but we also intend to boost our bottom line sufficiently to enable us sustain and grow our business.
This means that the rates we would set for our services will be one that will take a whole lot of factors into consideration such as location, our overhead and running expenses, as well as what our competitors are offering. However, because we are relatively new to the market, we intend to offer discounted rates for our products and services for the first three months of operations.
This is intended to attract more customers to our business during these months. After taking a careful look at what our overhead and running expenses would be for these three months, we are optimistic that even though we would generate less revenue, we would not be running at a loss during this period.
- Payment Options
Because we intend to cater to diverse customers, we have come up with payment options that would suit all our various customers’ preferences here at Shae’s Touch Studios; Therefore, the payment options that we will make available for all our customers are;
- Payment via cash
- Payment via check
- Payment via Point of Sale (POS) Machine
- Payment via online payment portal
- Payment via credit card
The above payment options were carefully chosen by us and will work with no hitches for our customers whilst also allowing us achieve our intended goals.
13. Startup Expenditure (Budget)
Every business that is a start-up requires capital in order to run the business and acquire the standard it intends for its business.
Whilst capital generation is key, deciding where to spend the bulk of the capital is also important. Therefore the bulk of our capital will be used to pay the salaries of our employees, pay utility bills and also to lease a facilityl. The key areas where we will therefore spend our start-up capital on are;
- Total fee for registering the business in the United States of America – $750
- Fees for obtaining licenses and permits, accounting software and specialized certifications – $2,250
- Cost of hiring business consultants – $3,000
- Marketing and promotion expenses for the grand opening of the makeup studio as well as general marketing expenses – $7,000
- Insurance coverage (general liability and Workers Compensation) – $2,000
- Operational expenses for the first 4 months (salaries of employees and payment of utility bills) – $120,000
- Cost of leasing a facility for at least 1 year and carrying out renovations – $30,000
- Cost of start-up inventory (professional makeup kits) – $15,000
- Cost of store equipment (cash register, racks, security and signage) – $5,000
- Other start-up expenses including stationery and furniture – $2,500
- Cost of purchasing a fairly used van – $15,000
- Cost of launching a website – $500
- Cost of throwing an opening party – $5,000
- Miscellaneous – $5,000
From the above analytical breakdown, it is obvious that we would require the sum of $213,000 in order to successfully startup and run a makeup business here in Bay Island – California. It should be noted that the amount is huge due to the different services we intend to offer. Also, the bulk of the capital will go into paying salaries of our employees and utility bills for at least 4 months.
Generating Funding/Startup Capital for Shae’s Touch Studios Business
Shae’s Touch Studios is a business owned and run 100% by Ms. Shae Lannister, a professional make-up artist. Ms. Shae has no intentions whatsoever to bring in any external partners to run the business with her. This has led her to restrict the sourcing of her capital to three major sources.
Below are the sources where Ms. Shae intends to source her start-up capital from;
- Generate part of the start-up capital from personal savings
- Source for soft loans from friends
- Apply for loan from the commercial bank
N.B : Ms. Shae has been able to gather the sum of $50,000 from her personal savings. She got the sum of $13,000 from friends and has the sum of $150,000 approved by the bank after several documents were signed to that effect. The loan is to be repaid in 7 years at the rate of 3%. The amount is due to be credited to her business account before the week runs out.
14. Sustainability and Expansion Strategy
Every serious entrepreneur starting off their own business do so with the intention of not only making profit and competing fairly against its competitors but also remaining in business for as long as possible. To ensure that a business is sustained and eventually grows, there are a number of factors that would need looking into such as the loyalty of customers, the reinvestment strategy of the business and its business structure.
Customers are the reason a business exists and generates revenue especially a service oriented business, and so we know how valuable our customers are and what to do to ensure that we retain at least 80% of those who patronize our services.
We also know how beneficial it is to reward our loyal customers especially those who refer us to others. We have discount programs in place for our loyal customers and several other incentives that will ensure that we grab a huge share of the market.
Our motto is to not only know what our clients want and meet these needs but to positively exceed their expectations. We would be offering different services in order to cater to our diverse clients so as to boost our earnings and increase our bottom line.
To this effect, we intend to take strict measures by reinvesting a percentage of our earnings back into the business. This is a sure way of ensuring that the business is adequately sustained.
Finally, we know how important having a solid business structure is and how it would allow us have as less hitches as possible when we start off our business and to this effect, we have sourced for qualified and competent hands to handle the various tasks that we would assign them.
Our staff are not only proficient but they have identified with our corporate mission and vision and are committed to ensuring that we achieve our corporate goals and objectives. We intend to take great care of our staff pay them better than their counterparts in similar startups such as ours. We believe that these three factors will by no means help in our sustainability and expansion objectives.
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Conducting feasibility studies: Completed
- Generating capital from family members: Completed
- Application for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Marketing/Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party/launching party planning: In Progress
- Establishing business relationship with vendors – wholesale suppliers/merchants: In Progress
- Purchase of trucks: Completed
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The makeup business
Step-by-step guide for starting a makeup artist business
Business plan for a makeup artist
How to run a makeup artist business legally
Effective promotion of makeup artist services
Portfolio — a must-have for a makeup artist
Where to work: in a beauty salon & at home
How to get whether the makeup business will work out for you
Conclusions + handy tips for beginners
There are so many services related to beauty. We have already talked about starting a beauty salon , barbershop , nail salon , or SPA , and even about opening a lash&brow business . Now, let's see how to create a makeup artist business.
Professional makeup is a life-changing service for many. This procedure not only highlights your beauty but also hides even the tiniest details you don't like. In addition, makeup is the art you can make money on.
Makeup changes the appearance but not the individuality. The main goal of this service is to show clients a better side. So, makeup artists use various beauty techniques, valuable products, and accessories.
A skillful makeup artist is a person who understands the fundamental principles of human anatomy, has artistic talent, the feeling of style, and trends.
The makeup business is a mix of art and hard work. A professional makeup artist has to be:
Eager to learn.
How to open barbershop
Open a tanning studio
How to open a massage studio
Lash and Brow business
How to start SPA business
How to open a nail salon
Beauty salon names
How to open a medical center
- Best practice
- Business Software
- Interior & Digital Design
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Checklist for Starting a Makeup Artist Business: Essential Ingredients for Success
If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a Makeup Artist business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!
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Hitch your wagon to a star
Ralph Waldo Emerson
God Made The Night ...
But He could not have known about those of us who waited for the dark To feel the first moments of privacy we had known all day, Or to use that black secrecy to mutter curses at the day's faults.
He Also Fashioned The Sun ..
And choreographed the ballet called sunset; But He didn't anticipate the agony that spectacle would create Among those of us who counted the day past a loss For it brought them not one step nearer the goals sought.
When He Breathed Out The Worlds Music ..
He planned joy, But again we fail Him when we wince, And fight tears, and denounce the beauty of it Only because there is no beauty in the music of our souls.
God Planted Love Here ..
And it grows Where hate had flourished Or where it is scarcely recognized. He planned on using it like a band-aid on the hurts of the heart. But it won't stick on some of us, Or it washes with salt tears, Or we claim not to need it's protection.
Isn't it a marvel He doesn't despair of us?
I Listen to the trees, and they say: "Stand tall and yield. Be tolerant and flexible. Be true to yourself. Stand alone, and stand together. Be brave. Be patient. With time, you will grow."
I Listen to the wind, and it says: "Breathe. Take care of yourself -- body, mind, and spirit. Take time. Be quiet. Listen from your heart. Forgive."
I Listen to the sun, and it says: "Nurture others. Let your warmth radiate for others to feel. Give yourself without expectations."
I Listen to the creek, and it says: "Relax; go with the flow. Tend to what's really important, and let the rest go by. Keep moving -- don't be hesitant or afraid. Lighten up -- laugh, giggle."
I Listen to the mountains, and they say: "Be there. Be honest. Be trustworthy. Do what you say you're going to do. Be true, genuine, and real. Speak from the heart. Don't cheat."
I Listen to the birds, and they say: "Set yourself free. Sing."
I Listen to the clouds, and they say: "Be creative. Be expressive. Let your spirit run free. Let yourself be light and gay, but let yourself be heavy and sad. Cry when you feel like it."
I Listen to the sky, and it says: "Open up. Let go of the boundaries and barriers which you have created to protect yourself. Experience change. Fly."
I Listen to the flowers and small plants, and they say: "Be humble. Be simple. Respect the beauty of small things. Respect the beauty of humility and truth. Let go of perfectionism. Love yourself as you are; it opens the door to change. Practice acceptance."
I Listen to the bugs and flying insects, and they say: "Work. Be productive. Use your hands. Focus on what's in front of you. Ignore the past; there is only the present."
I Listen to the moon, and it says: "Love. Share love. Make love. Be romantic -- touch and caress. Allow yourself to be loved. Be gentle, kind, and understanding. Use candles."
I Listen to the stars, and they wink and say: "Play. Dance, be silly, have fun."
I Listen to the earth, and it says: "I am your mother. I give you life. Respect all that is around you. Find beauty in all things -- living and not -- including yourself; for we are all one -- not separate. Be especially respectful to the very young and the very old, for they are both very near God. Give up the belief that you are a higher form of life; there is no higher form of life. We are equal because we are the same. When you return to me, I will welcome you, and I will set your spirit free. Love and nurture your children; cook good food for them, and hold them very close to you often. Hold me close to you often as well, and I will hold you in return; I will support you. Have faith.
Great works are performed not by strength but by perseverance
Company Financial management in the business is characterized, in many different cases, by the need to face a somewhat different set of problems and opportunities than those faced by a large corporation. 1 immediate and obvious distinction is that a majority of smaller businesses do not normally have the chance to openly sell issues of stocks or bonds in order to raise funds. The owner-manager of a smaller company must rely mostly on trade credit, bank financing, lease financing, and personal equity to fund the company. One, hence faces a much more severely restricted pair of funding choices than those faced with the financial vice president or treasurer of a large corporation. On the other Hand, if small business financial management is concern, many fiscal problems facing the small firm are very similar to those of larger businesses. By way of example, the investigation required for a long-term investment decision such as the purchase of heavy machinery or the test of lease-buy options, is essentially the same whatever the size of their firm. Once the choice is made, the financing alternatives available to the business might be radically different, however, the decision procedure will be generally comparable. 1 area of Special concern for the smaller business owner is in the effective management of working capital. Net working capital is defined as the gap between current assets and current liabilities and is frequently considered as the"circulating capital" of the business. Lack of management in this crucial area is a primary cause of business failure in both small and large businesses. The Business Enterprise Manager must always be alert to changes in working capital accounts, the reason behind those changes and the implications of those changes for the financial health of the corporation. 1 convenient and efficient method to highlight the crucial managerial requirements in this area is to see working capital concerning its important components: Cash and Equivalents. This most liquid form of current assets, cash and cash equivalents (usually marketable securities or short-term certification of deposit) requires constant supervision. A well planned and maintained cash budgeting process is imperative to answer crucial questions such as: Is your cash level adequate to satisfy current expenses as they come due? What are the timing relationships between cash inflows and outflows? When will peak cash needs occur? What will be the magnitude of bank borrowing required to fulfill any cash shortfalls? When will this borrowing be necessary and if will repayment be expected? Accounts Receivable. Virtually all businesses must extend credit to their customers. Key issues in this area include: Is the amount of accounts receivable reasonable in relation to sales? On the average, how rapidly are accounts receivable being collected? Which customers are"slow payers?" What action ought to be taken to speed collections where needed?Inventories.Inventories frequently constitute 50 percent or more of a firm's current assets and so, are worthy of close scrutiny. Key questions that must be considered in this area include: Is your degree of inventory reasonable concerning sales and the working characteristics of the business? How rapidly is inventory turned over in relation to other businesses in precisely the exact same industry? Is any capital invested in dead or slow moving stock? Are sales being dropped due to inadequate inventory levels? When appropriate, what actions ought to be taken to increase or reduce stock? Accounts Payable and Trade Notes Payable. In a business, trade credit often provides a significant source of funding for the firm. Key issues to investigate in this class include: Why is the sum of money owed to providers reasonable in relation to purchases? Is the company's payment plan such that it will enhance or detract from the firm's credit score? If available, are discounts being taken? What are the timing relationships between payments on accounts payable and set on accounts receivable?Notes Payable. Notes payable to banks or other creditors are a second significant source of financing for the business. Significant questions in this course include: what's the amount of bank borrowing employed? Can this debt amount reasonable in regard to the equity financing of the company? When will principal and interest payments fall due? Will funds be available to meet those obligations in time? Accrued Expenses and Taxes Payable. Accrued expenses and taxes payable represent responsibilities of the firm as of the date of balance sheet preparation. Accrued expenses represent these things as salaries payable, interest payable on bank notes, insurance premiums payable, and similar products. Of primary concern in this region, especially with regard to taxes payable, is the magnitude, timing, and availability of funds for payment. Careful planning must insure that these duties are met on time. As a final Notice, it's important to recognize that even though the operating capital accounts above are recorded separately, they need to also be viewed in total and from the perspective of their connection to one another: What is the overall trend in net working capital? Is this a healthy trend? Which individual balances are liable for the trend? How does the firm's working capital position relate to similar sized firms in the business? What could be done to correct the trend, if needed? Of course, the Questions posed are a lot easier to ask than to answer and you will find several"general" replies to the issues raised. The manuals that follow provide suggestions, techniques, and guidelines for successful management which, when tempered with the experience of the individual owner-manager along with the unique demands of the particular sector, may be expected to improve one's capacity to handle efficiently the financial resources of a company enterprise. There is one Simple reason to comprehend and detect company financial planning in your business - to avoid failure. Eight of ten new businesses fail primarily because of the dearth of good fiscal planning. Business Financial planning impacts how and on what terms you will be able to attract the funding required to establish, maintain, and expand your business. Financial Planning decides the raw materials you can afford to purchase, the products you will be able to produce, and whether or not you will have the ability to market them efficiently. It impacts the human and physical resources you will be able to get to operate your business. It'll be a significant determinant of whether you will be able to produce your hard work rewarding. This segment Provides an overview of the vital elements of financial management and planning. Used wisely, it is going to produce the reader - the small business owner/manager - familiar enough with the fundamentals to have a fighting chance of success in today's highly competitive business environment. A clearly Conceived, well recorded financial plan, establishing objectives and such as the The use of Pro Forma Statements and Budgets to ensure financial management, will Demonstrate not only that you know what you wish to do, but you understand how To accomplish it. This demonstration is essential to attract the capital Required by your company from lenders and investors.
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Permanent Makeup Business Plan Template & Guidebook
Are you trying to find out how to write a business plan? In order to successfully create and present your business plan, it is important to understand the 7 steps needed in order to effectively complete this task. Using the step by step guide provided below you can learn how to write a business plan for your permanent make up business.
Get worry-free services and support to launch your business starting at $0 plus state fees.
- How to Start a Permanent Makeup Business [11+ Steps]
- 25 Catchy Permanent Makeup Business Names:
- List of the Best Marketing Ideas For Your Permanent Makeup Business:
How to Write a Permanent Makeup Business Plan in 7 Steps:
1. describe the purpose of your permanent makeup business..
The first step to writing your business plan is to describe the purpose of your permanent makeup business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.
It also helps to include a vision statement so that readers can understand what type of company you want to build.
Here is an example of a purpose mission statement for a permanent makeup business:
Our purpose at Permanent Makeup Inc. is to empower our clients to embrace their natural beauty and enhance their appearance with professional, reliable, and affordable permanent makeup services. Our mission is to become the leading provider of permanent makeup services in the region, offering a wide range of services to suit every need. We are committed to using only the finest materials and latest technology, and to providing exceptional customer service, with knowledgeable and friendly staff who can help clients understand their options and make the best choices for their needs. We aim to provide a safe, comfortable, and enjoyable working environment for our team, and to deliver exceptional results that exceed our clients' expectations. We believe that everyone deserves to feel confident and beautiful in their own skin, and we strive to provide our clients with the best products and services available.
2. Products & Services Offered by Your Permanent Makeup Business.
The next step is to outline your products and services for your permanent makeup business.
When you think about the products and services that you offer, it's helpful to ask yourself the following questions:
- What is my business?
- What are the products and/or services that I offer?
- Why am I offering these particular products and/or services?
- How do I differentiate myself from competitors with similar offerings?
- How will I market my products and services?
You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.
3. Build a Creative Marketing Stratgey.
If you don't have a marketing plan for your permanent makeup business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals.
A good marketing plan for your permanent makeup business includes the following elements:
- Who is your target market?
- What do these customers have in common?
- How many of them are there?
- How can you best reach them with your message or product?
- Who are your current customers?
- Where did they come from (i.e., referrals)?
- How can their experience with your permanent makeup business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?
Product or service description
- How does it work, what features does it have, and what are its benefits?
- Can anyone use this product or service regardless of age or gender?
- Can anyone visually see themselves using this product or service?
- How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?
- Which companies are competing with yours today (and why)?
- Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
- What specific advantages does each competitor offer over yours currently?
- Which marketing channel do you intend to leverage to attract new customers?
- What is your estimated marketing budget needed?
- What is the projected cost to acquire a new customer?
- How many of your customers do you instead will return?
Form an LLC in your state!
4. Write Your Operational Plan.
Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations.
In it, you should list:
- The equipment and facilities needed
- Who will be involved in the business (employees, contractors)
- Financial requirements for each step
- Milestones & KPIs
- Location of your business
- Zoning & permits required for the business
What equipment, supplies, or permits are needed to run a permanent makeup business?
To run a permanent makeup business, you will need a few key pieces of equipment, supplies, and permits. These include:
- Permanent makeup tools and equipment
- Protective gear and safety equipment
- A permit to operate your business (depending on location)
- Business licenses and permits for business activities (if applicable)
You may also need to hire and train staff to provide the permanent makeup services and manage customer service.
5. Management & Organization of Your Permanent Makeup Business.
The second part of your permanent makeup business plan is to develop a management and organization section.
This section will cover all of the following:
- How many employees you need in order to run your permanent makeup business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
- The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
- How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!
6. Permanent Makeup Business Startup Expenses & Captial Needed.
This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.
Typically, expenses for your business can be broken into a few basic categories:
Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a permanent makeup business varies based on many different variables, but below are a few different types of startup costs for a permanent makeup business.
Running & Operating Costs
Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.
Marketing & Sales Expenses
You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your permanent makeup business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.
7. Financial Plan & Projections
A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your permanent makeup business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses.
Here are some steps you can follow to devise a financial plan for your permanent makeup business plan:
- Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
- Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
- Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
- Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
- Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
- Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.
Frequently Asked Questions About Permanent Makeup Business Plans:
Why do you need a business plan for a permanent makeup business.
A business plan is a document that outlines the goals and objectives of a business, as well as the strategies and tactics that will be used to achieve those goals. It is important to have a business plan for your permanent makeup business because it helps to focus the efforts of the company, communicate the business's goals and objectives to potential investors, and provide a roadmap for the business to follow. Additionally, a business plan can be used to help secure funding from investors or lenders, who will want to see that the business has a solid plan in place before they provide funding.
How to write a business plan for your permanent makeup business?)
To build a business plan for your permanent makeup business, start by researching your industry, competitors, and target market. Use this information to define your business's goals and objectives, as well as the strategies and tactics that you will use to achieve those goals. Next, create a financial plan that outlines your projected income, expenses, and profit. This should include a projected income statement, cash flow statement, and balance sheet. Once you have all of this information, you can use it to create a comprehensive business plan that outlines the goals and objectives of your business, as well as the strategies and tactics that you will use to achieve those goals. A well-written permanent makeup business plan contains the following sections: Purpose, Products & Services, Marketing Plan (including Marketing Strategy), Operations/Management Plan (including Operations/Management Strategy), Financial Plan (including Financial Forecasts), and Appendixes.
Can you write a permanent makeup business plan yourself?
Yes, you can write a permanent makeup business plan yourself. Writing a business plan is a valuable exercise that can help you clarify your business idea, identify potential challenges and opportunities, and develop a roadmap for success. While there are many resources and templates available to help you write a business plan, the process of creating one is ultimately up to you.
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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.
Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.
From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.
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DOWNLOAD BEAUTY MAKE UP ARTISTE BUSINESS PLAN WITH FINANCIALS
Looking for a beauty make up artiste Business plan in Nigeria for your new or existing enterprise?
Download this beauty make up artiste business plan sample, which you can download to present to NIRSAL, BOI, BOA, and other investors.
How to Start a Profitable Bridal Makeup Business in Nigeria: A Comprehensive Guide
The bridal makeup industry in Nigeria has experienced remarkable growth in recent years. As weddings are significant cultural events, brides are increasingly seeking professional makeup artists to enhance their natural beauty on their special day. If you have a passion for makeup artistry and a desire to start a profitable venture, launching a bridal makeup business in Nigeria can be a rewarding endeavor. This guide will walk you through the essential steps to establish a successful bridal makeup business.
Step 1: Conduct Thorough Market Research
Before diving in, it’s crucial to understand the bridal makeup market in Nigeria. Research current trends, pricing models, and the preferences of brides in different regions. Identify your target demographic and study their makeup preferences for traditional and contemporary weddings.
Step 2: Develop a Unique Style and Brand
Differentiation is key in a competitive industry. Develop a signature style that sets you apart from other makeup artists. Your style should be versatile, catering to various bridal looks, from traditional to modern. Create a strong brand identity, including a memorable logo, color scheme, and a well-designed website.
Step 3: Acquire Training and Certification
Invest in professional makeup training and certification from reputable institutions. This not only hones your skills but also provides credibility and reassurance to potential clients. Continuous learning will keep you updated with the latest makeup techniques and trends.
Step 4: Build a High-Quality Makeup Kit
Invest in a comprehensive makeup kit that includes a wide range of products suitable for different skin tones and types. Ensure your kit includes high-quality, long-lasting products for a flawless finish. Keep your kit organized and sanitary to maintain professionalism.
Step 5: Obtain Necessary Permits and Licenses
Register your bridal makeup business with the appropriate authorities in Nigeria. This includes obtaining a business license, tax identification number (TIN), and any other permits required by local regulations.
Step 6: Set Pricing and Packages
Determine your pricing structure based on factors such as the complexity of the makeup look, travel expenses (if applicable), and your level of expertise. Offer a variety of packages to cater to different budgets and preferences. Be transparent about your pricing on your website or promotional materials.
Step 7: Develop an Online Presence
In today’s digital age, an online presence is crucial for attracting clients. Create a professional website showcasing your portfolio, services, pricing, and contact information. Utilize social media platforms like Instagram, Facebook, and Pinterest to showcase your work and engage with potential clients.
Step 8: Network and Collaborate
Build relationships with other wedding vendors, such as photographers, hairstylists, and event planners. Collaborations can lead to referrals and expand your clientele. Attend bridal expos, workshops, and industry events to network with potential clients and fellow professionals.
Step 9: Provide Exceptional Customer Service
Exceptional customer service sets you apart in the bridal makeup industry. Communicate clearly with brides, understand their preferences, and offer professional advice. Ensure punctuality and reliability to instill trust and confidence in your clients.
Step 10: Market and Promote Your Business
Implement a comprehensive marketing strategy that includes online advertising, social media marketing, and targeted promotions. Consider offering special packages for bridal parties or discounts for referrals. Encourage satisfied clients to leave reviews and testimonials on your website and social media pages.
Starting a profitable bridal makeup business in Nigeria requires a combination of skill, creativity, and business acumen. By conducting thorough research, honing your craft, and providing exceptional service, you can establish a successful venture in this thriving industry. Remember, persistence and continuous learning are key to long-term success in the bridal makeup business.
A SAMPLE MAKE UP ARTISTE BUSINESS PLAN
1.0. Executive Summary
Dassy Beauty Studios is a Nigeria based and international makeup studio that will be located in Mokola, Ibadan. We intend to offer makeup services, products and pieces of training to our clients, as well as other services in our line of business.
Dassy Beauty Studios is in business to maximize profit and also compete with other business competitors in and around Nigeria. our vision is to exceed the expectations of our clients and also become a nationwide and international brand in the next 3 years.
We intend to build a stable business structure because we plan to start with as few glitches as possible. We have the intention to employ creative and qualified hands who understand the business thoroughly and are goal-oriented.
Dassy Beauty studios is a business owned and managed by Ayomide Rhoda, a renowned makeup artist who has made up several famous artists in Nigeria. She has a Degree: B.S. in Fine Art from the University of Benin and an MBA from the University of Ibadan, and other certifications with over 5 years experience in the industry, working with some of the leading brands in Nigeria.
2.0. Our Products and Services
Dassy beauty Studios intends to deliver the following product and services to its various customers;
- The offering of makeup services (for weddings, special occasions, on movie sets) to our various clients
- Sale of makeup products
- Distributing for branded products
- Pieces of training
- Consulting and advisory services
3.0. Mission and Vision
- Our vision is to exceed the expectations of our clients and also become a nationwide and international brand in the next 3 years.
- Our mission is to ensure that we meet and also exceed the expectations of our clients whichever expectations they have.
4.0. Business Structure
We plan to run a standard makeup studio that exceeds the expectations of our clients, that is why we intend to employ the most qualified people to work with us in our make-up studio.
Below is the business structure that we intend to build;
- Chief Executive Officer
- Admin Manager and Human Resources
- Production Manager
- Makeup Director
- Quality Assurance Manager
- Marketing and Sales Executives
- Front Desk Officer
- Store Manager
5.0. SWOT ANALYSIS
The fact that we will be offering several makeup services to our various customers, allowing us to meet the various needs of our customers. All our makeup artists will not only be well trained, dedicated and understanding but have professional certifications as well, which means that we are more than competent to meet and also exceed the expectations of our customers.
The fact that we are a new business and yet to gain much depth into the market as we intend to is our major weakness. Also, we do not have all the staff or the finances necessary to deliver all the services we hope to achieve.
There are several opportunities in this industry available to us with the various target market that will be rendering our services to. Also, the living economy means more people will be willing to patronize our services or buy products from us.
Our major threat is the arrival of a major competitor to the same location we are operating from leading to a reduction in the number of customers we are likely to have. Also, an economic downturn is likely to be a threat to our businesses.
5.5. Our Target Market
Almost everyone uses makeup especially for special occasions, events and other purposes and therefore require the services of a make-up artist to be able to get the look they want.
Given this, we have conducted surveys and market research to fully understand the market we intend to enter and what we should expect from our target market, while also having an idea of what they would be expecting from us. Therefore, we are in business to services the interest of the following group of customers;
- Actors and actresses
- Movie stars
- And every other uncategorized target market
5.6. Sources of Income
Dassy Beauty Studio is established to generate profit that will be used in growing and sustaining the business here in Ibadan and also all over the country and beyond our country’s borders.
We intend to generate income by rendering the following services and selling the following products;
- the offering of makeup services (for weddings, special occasions, on movie sets) to our various clients
- Sale of our makeup products produced by us
- Distribution of branded products
- Consultancy and advisory services
How To Download Make Up Artiste Business plan Template PDF and Doc (With financial analysis)
Pay the sum of N8000 ( Eight thousand naira only) to the account detail below: Bank: GTBank Name: Oyewole Abidemi (I am putting my name and not our company account so you know I am real and you can trust me, and trace me) Ac/No: 0238933625 Type: Saving
P.S: We can also tailor the beauty make up artiste Business plan to your name, business size, capital requirements, and more to fit your direct needs. Call or message +234 701 754 2853 for inquiries.
Dr. Abi Demi is a skilled technical writer and author with specialties in the martech and fintech space. Featured on Tekedia, Coin Review, Business Insider, Fintechna, Cryptocoin.news, Date 360 and several other sterling online publications, Demi is an astute technical writer that specializes in finance, marketing and technology - with over 500 published pieces across the internet ecosystem. Contact Abi Demi - [email protected]
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Makeup Artist Business Plan
$59.00 $39.00 1 review
Instant Download, Editable on MAC & PC
Resources On Makeup Artist
- Financial Model
- Value Proposition
- One-Page Business Plan
- SWOT Analysis
- Business Model
Products & services, market analysis, marketing plan.
- Management Plan
- Financial Plan
The Glam Avenue Beauty Studio makeup artist business is addressing the need for high-quality, professional makeup services that are tailored to clients' unique needs and preferences. The makeup industry is highly competitive, and finding a skilled artist who offers personalized services can be challenging for individuals seeking makeup services for events. With the increasing demand for makeup lessons and skincare consultations, individuals also need a reliable source for professional guidance in these areas. Glam Avenue Beauty Studio aims to fill this need by providing exceptional makeup services and professional guidance for skincare and makeup, establishing lasting relationships with clients and building a loyal clientele base in the New York City market.
Glam Avenue Beauty Studio offers high-quality makeup services for special events, editorial purposes, and makeup lessons in the New York City metropolitan area. We provide professional makeup services tailored to each client's unique needs and preferences. Additionally, we offer skincare consultations and hair styling services to provide a comprehensive beauty experience.
Our services solve the problem of clients struggling to find a reliable and professional makeup artist that can provide unique and flawless makeup services for their events. Our expertise and attention to detail ensure that our clients leave with the perfect look and feel their best on their special day. We also provide guidance and education on skincare to improve the overall quality of our clients' skin and maintain their beauty routine.
Glam Avenue Beauty Studio is committed to providing exceptional service and creating lasting relationships with our clients. We strive to exceed their expectations and establish a loyal clientele base in the New York City market.
The target market for Glam Avenue Beauty Studio consists of individuals who are in need of makeup services for special events, such as weddings, photo shoots, and other occasions where professional makeup is needed. We will also target professionals who are interested in makeup lessons or consultations, such as models, actors, and business professionals who want to improve their personal or professional image.
Our target market is primarily located in the New York City metropolitan area, where there is a high demand for professional makeup services for special events and editorial purposes. We will also target individuals who are interested in skincare consultations and hair styling services, which will be offered as additional services.
We will tailor our services to meet the unique needs and preferences of each customer, ensuring that they receive high-quality, professional makeup services that exceed their expectations. By establishing lasting relationships with our clients through exceptional service and professionalism, we aim to build a loyal customer base and become the premier makeup studio for special events, editorial purposes, and makeup lessons in the New York City market.
In the makeup industry, there are plenty of substitutes and alternatives that could potentially affect our business operations. The competition includes freelance makeup artists, other makeup studios, and DIY makeup artists. Freelance makeup artists have a low cost of entry, which means they can offer cheaper rates and take away some of our clientele. Other makeup studios may have established brand names and customer bases that might pose a challenge for us. DIY makeup artists could also affect our business as they offer cheaper options for those who want to do their makeup themselves.
However, we are confident that our high-quality makeup services and professional guidance for skincare and makeup will set us apart from our competitors. Our collaborative approach with beauty professionals and our marketing strategies will help us attract new customers and establish a loyal clientele base.
Here are the key highlights of the financial plan for Glam Avenue Beauty Studio:
- We plan to generate a minimum of $80,000 in revenue per year.
- Our revenue will come from per-event fees, hourly rates, and additional fees for skincare consultations and hair styling.
- To cover our startup costs, we aim to secure a $50,000 loan.
- Our cost structure will include makeup supplies and tools, as well as marketing and advertising costs.
- Our goal is to maintain high-quality services while achieving profitability in the long run.
Overall, we are confident that our financial plan will allow us to establish a thriving makeup artist studio in the competitive New York City market.
Our startup costs for Glam Avenue Beauty Studio will include the purchase of makeup tools and supplies, website design and development, and marketing and advertising costs. We plan to generate revenue through per-event fees, hourly rates, and additional fees for skincare consultations and hair styling. Our initial funding goals include the following:
- Secure a $50,000 loan to cover startup costs such as makeup tools and supplies, website design and development, and marketing and advertising costs.
- Generate a minimum of $80,000 in revenue per year to cover ongoing costs and expenses.
We are confident that with our comprehensive makeup artist business plan and strategic marketing and advertising strategies, we will be able to generate revenue and profits to grow our business and establish a loyal client base in the New York City metropolitan area. We look forward to pitch our business plan to potential investors and partners to secure the funding needed to realize our goals.
Milestones and Traction
At Glam Avenue Beauty Studio, we have a clear roadmap in place for achieving our business goals. Here are the specific milestones we plan to hit:
By hitting these milestones, we believe we can establish ourselves as a premier makeup artist studio in the New York City market. With a focus on high-quality services, professional guidance, and strong marketing efforts, we are confident we can generate the revenue needed to reach our financial goals and build a lasting business.
Problem Worth Solving
The problem we intend to solve for our customer base is the challenge of finding a reliable and professional makeup artist for special events or editorial purposes. Many people struggle with finding a makeup artist who can provide a high-quality service that suits their specific needs and preferences. Similarly, individuals seeking makeup lessons or skincare consultations may encounter difficulties in finding professional guidance and advice that meets their expectations.
Our business aims to provide a solution to these pain points by offering high-quality makeup services tailored to each client's unique needs and preferences. We will also offer professional guidance for skincare and makeup to help clients achieve their desired look and maintain healthy skin. By establishing lasting relationships with our clients, we aim to provide a reliable and trusted service for any makeup needs they may have.
At Glam Avenue Beauty Studio, our solution is to provide high-quality, professional makeup services that alleviate the stress and worry of our customers who are in need of flawless makeup for special events and editorial purposes. We recognize the need for makeup that not only looks beautiful but lasts throughout the day. Our experienced makeup artists use high-quality makeup products and techniques to ensure that the makeup stays put during the event or photo shoot, leaving our customers feeling confident and beautiful.
In addition, we offer skincare consultations to help our clients achieve their best skin possible before applying makeup. We provide professional guidance on skincare routines and recommend products that will work best for each individual's skin type and concerns. By offering comprehensive beauty services, we aim to be a one-stop-shop for our customer's makeup and skincare needs.
Our solution is not only to provide excellent makeup services but also to build lasting relationships with our clients through exceptional service and professionalism. Our goal is to establish a loyal client base by delivering consistent, high-quality services each time they visit our studio. We believe that our solution will not only meet but exceed the expectations of our customers in the New York City metropolitan area.
Validation of Problem and Solution
The makeup artist business model is a well-established and in-demand service in the US, especially in highly populated cities such as New York City. According to a report by The NPD Group, the US prestige beauty industry generated $18.8 billion in sales in 2020, with makeup being the largest category within the sector.
Our makeup artist business plan aims to provide high-quality makeup services for special events and editorial purposes, backed by professional guidance for skincare and makeup. We have conducted extensive market research to validate the problem and solution and ensure that our services align with the evolving needs and preferences of our target customer segments.
Additionally, we have conducted pilot tests to reinforce our market research and validate our business model. Through our pilot tests, we received numerous positive reviews from customers, which further supports the demand for high-quality makeup services and our solution. Moreover, we have identified potential partnerships with key professionals in the beauty industry, such as event planners and photographers, who can provide strong referrals and validation of our services.
In summary, the makeup artist industry in the US is well-established and in-demand, and our services have been validated through extensive market research and pilot tests. We are confident that our business model will provide a solution to the needs and preferences of our target customer segments, and establish a position as a premier makeup studio in the New York City metropolitan area.
Glam Avenue Beauty Studio offers top-quality makeup services for a variety of occasions, including bridal makeup, special event makeup, editorial makeup, and makeup lessons. Our services are tailored to the unique needs and preferences of each client, and we strive to provide exceptional service and professionalism to ensure complete customer satisfaction. In addition to makeup services, we also offer skincare consultations and hair styling to provide a complete beauty experience for our clients.
Our products are carefully selected to ensure the highest quality, and we use only the best professional-grade makeup tools and supplies. Our services are available to individuals in need of makeup services for events, as well as professionals seeking makeup lessons or consultations.
At Glam Avenue Beauty Studio, we believe that everyone deserves to feel confident and beautiful, and our services are designed to help our clients achieve just that. Our professional guidance for skincare and makeup, paired with our exceptional makeup services, make us the premier choice for anyone seeking a complete beauty experience in the New York City metropolitan area.
There are various makeup artists and studios providing similar services in the New York City metropolitan area. However, Glam Avenue Beauty Studio differentiates itself by offering high-quality and professional services for special events, editorial purposes, and makeup lessons. Our makeup artists are well-trained and experienced, ensuring that every client receives a personalized makeup application that enhances their unique features and style. We also provide skincare consultations and hair styling services to cater to our clients' complete beauty needs.
While some makeup artists may use lower quality or untested products, we only use professional and high-end brands to safeguard our clients' skin and overall health. We also maintain a strong online presence to showcase our portfolio, client testimonials, and makeup tips, which helps attract and retain a loyal clientele base. Our competitive pricing strategy also ensures that our services remain affordable and accessible to our target market without compromising the quality.
Here is a detailed roadmap of the steps taken so far and the ones planned for the establishment of Glam Avenue Beauty Studio:
With the completion of these steps, we aim to become the premier makeup studio for special events, editorial purposes, and makeup lessons in the New York City metropolitan area.
The bridal segment is the largest and offers the highest potential for revenue, while the editorial segment is the smallest with lower revenue potential. Marketing efforts can be focused on targeting the bridal segment through social media and networking with event planners. The makeup lessons and skincare consultation segments can also provide additional sources of revenue.
Target Market Segment Strategy
Our ideal customer segment includes individuals who require makeup services for special events and professionals who seek makeup lessons or consultations. Our services cater to brides, models, actors, media personalities, and anyone who desires a flawless appearance for significant events. These individuals seek high-quality makeup services that enhance their beauty and radiance while ensuring longevity throughout the event.
In addition, we target professionals in the beauty industry who require expert guidance on makeup techniques, product selection, and skin care routines. Our makeup lessons and consultations will help these professionals improve their skills and offer exceptional services to their clients.
The ideal customer for the makeup artist's business would be individuals who are in need of makeup services for special events such as weddings, proms, or photoshoots. These customers are often looking for high-quality makeup services that will make them look and feel their best on their special day. Additionally, the makeup artist can target professionals who are seeking makeup lessons or consultations to improve their personal makeup skills or to learn new techniques for their business. These customers will be the main advocates for the business, spreading the word about the artist's services and helping to establish a loyal clientele base.
Based on the analysis in the previous sections, the potential market for our makeup artist business is substantial. There is a high demand for makeup services among individuals who require professional makeup for special events. Additionally, professionals seeking makeup lessons or consultations provide another market segment that we can cater to.
Our service-based business model aligns well with this market, as we offer high-quality makeup services for special events and provide professional guidance for skincare and makeup. We will continue to expand our services and market ourselves through social media and networking with event planners and photographers to establish a loyal clientele base.
As the beauty industry continues to evolve, we will stay up-to-date with the latest trends and techniques to remain competitive. By consistently delivering exceptional makeup services and related products, we are confident that our business can thrive in the future.
Here is a table of potential competitors in the makeup artist industry:
These competitors offer similar services to our business and have different pricing models and marketing strategies. It is important for us to differentiate ourselves by providing high-quality services and offering professional guidance for skincare and makeup. This will help us establish a loyal client base and stand out in a competitive market.
Marketing and Sales Plan
Our main focus for marketing and advertising will be through social media platforms such as Instagram and Facebook, where we will showcase our services and engage with potential customers. We will also rely heavily on word of mouth and networking with event planners and photographers to establish a loyal customer base. Our goal is to increase brand awareness and attract new customers by offering high-quality makeup services for special events and editorial purposes. Our advertising costs will include social media ads and collaborations with other beauty professionals.
Based on our market research and analysis, we anticipate a steady stream of sales throughout the year. We plan to start with a pricing strategy that is competitive but also reflective of the high-quality service we provide. We estimate the number of sales to be around 50-60 events and 100 makeup lessons per year, adding additional services such as skincare consultations and hair styling can increase these numbers as well. Our capacity will allow us to handle multiple events in a day, depending on their size and the number of makeup artists available at any given time.
Our sales plan includes various marketing and advertising strategies to attract customers to our studio. We will use our social media accounts to showcase our work and reach out to potential clients. We will also network with event planners, photographers, and other beauty professionals to secure more contracts and partnerships that will help us to expand our clientele. Word of mouth will also play a huge part in our sales plan, as we aim to build strong relationships with our clients and exceed their expectations with each service we provide.
Location and Facilities
Glam Avenue Beauty Studio will be located in the bustling city of New York, specifically in an area that is easily accessible to our target market of individuals in need of makeup services for events and professionals seeking makeup lessons or consultations. The estimated cost of operation in New York will be high due to the city's high living expenses, but we believe that the location will attract a significant number of customers. The studio will be fully equipped with high-quality makeup tools and supplies, professional lighting, comfortable seating areas for clients, and a consultation area for skincare and makeup services.
In addition to our physical location, we will also have a professional portfolio and website where potential clients can browse our services and book appointments. Our social media accounts will also showcase our portfolio and serve as a platform for marketing and networking with event planners, photographers, and beauty professionals.
Glam Avenue Beauty Studio understands the importance of utilizing technology to enhance the customer experience. We will be implementing the use of specialized software to accurately track our clientele base and manage appointments efficiently. Additionally, we will be utilizing high-quality cameras and lighting equipment to capture before and after photos of our clients' makeup and hair transformations. These images will be showcased on our website and social media channels to showcase our skills and services. Our investment in these technological resources will set us apart from other makeup artists and ensure that our clients receive a world-class experience when they visit our studio.
Equipment and Tools
A makeup artist requires various tools and equipment to provide high-quality services to their clients. Here is an outline of the required equipment and the cost associated with renting or purchasing:
It is important to note that some of the equipment can be rented for individual events to reduce costs. Furthermore, makeup artists should regularly update their supplies and invest in new products to provide the best services to their clients.
Management and Organization
Our makeup artist business follows a flat organizational structure with the owner as the sole makeup artist and service provider. The owner is responsible for all key activities including offering makeup services, providing skincare consultations, collaborating with beauty professionals, and marketing through various channels. There are no other employees or levels in the organization, and the owner is self-managed.
Management team gaps.
As a solo makeup artist, there are currently no gaps in the management team. However, as the business grows, there may be a need for additional staff members to assist with administrative tasks and client management. Candidates with expertise in marketing and event planning may also be necessary to expand the business's reach and clientele base. At this time, there are no immediate candidates ready to fill these potential roles.
In order to run the Makeup Artist business effectively, the following positions may be required:
Company History and Ownership
Glam Avenue Beauty Studio was founded in 2023 by a team of experienced makeup artists with a passion for providing high-quality makeup services. The founders, Sarah Johnson and Maria Hernandez, have been working in the industry for over a decade, having worked with numerous clients in the New York City metropolitan area. Their expertise and reputation led to the formation of Glam Avenue Beauty Studio, with the aim of bringing their services to a wider audience.
The company is fully owned by Sarah and Maria and is structured as a partnership. Both founders have equal say in the company's decisions and share in its profits and losses. They are responsible for the overall management and operation of the studio, ensuring that all customers receive the highest quality service.
Glam Avenue Beauty Studio's history informs the planning of the business as it demonstrates the extensive expertise of the founders, their experience in the industry, and their understanding of the makeup artist business model. The company's core values, mission, and goals are built upon the experience of the founders and their desire to provide exceptional makeup services, establish lasting relationships with their clients, and build a profitable and successful makeup artist studio in the New York City market.
As a startup business, it is essential to have a roadmap to track progress and measure success. Here are some of the milestones we plan to achieve:
To gauge the overall performance and health of our makeup artist business, we will track the following key performance indicators (KPIs):
- Number of clients per month
- Total revenue generated
- Conversion rate from initial inquiry to booking
- Customer satisfaction ratings
- Referral rate from satisfied clients
- Social media engagement metrics (likes, shares, comments, followers)
Tracking these KPIs on a regular basis will allow us to make data-driven decisions to improve our services and increase our profitability.
Financial Plan and Metrics
Our projected sales for the next three years are as follows:
Based on these projections, we anticipate generating a minimum of $80,000 in revenue annually, which will cover our startup and ongoing costs. Our initial funding goals include securing a $50,000 loan to cover startup costs, including makeup tools and supplies, marketing, and advertising costs.
Starting a makeup artist business requires investment in tools, supplies, and marketing. The following table illustrates the expected startup costs:
The operational expenses of a makeup artist business include the cost of supplies and ongoing marketing efforts. The following table illustrates the estimated monthly operational expenses:
Projected Profit and Loss
Our revenue streams will come from per-event fees, hourly rates, and additional fees for skincare consultations and hair styling. We project to generate a minimum of $80,000 in revenue per year to cover our startup and ongoing costs.
Projected Cash Flow
Below is a projected cash flow statement for the first three years of Glam Avenue Beauty Studio's operations:
Our cash flow projections indicate that Glam Avenue Beauty Studio will generate a minimum of $80,000 in revenue per year and cover our startup and ongoing costs. We expect our net cash flow to increase each year, resulting in a cumulative net cash flow of $200,000 by the end of Year 3.
Projected Balance Sheet
Below is the balance sheet for the Makeup Artist Business Plan for the next three years (2023, 2024, and 2025), categorised into Assets, Liabilities, and Equity:
As the balance sheet shows, the Makeup Artist Business Plan is projected to increase its assets over the next three years while also increasing its liabilities. However, with a well-established clientele base and high-quality services, the business can continue to generate revenue and maintain a positive equity.
For the Makeup Artist Business, the plan is to operate as a solo entrepreneur. The owner will handle all makeup services, consultations, and marketing activities. Therefore, there is no current plan for hiring employees or contractors. If the business expands in the future, the owner may consider hiring additional makeup artists or staff to handle administrative tasks.
Compensation for the owner will be based on a per-event fee and hourly rates for makeup services. The owner will also charge additional fees for skincare consultations and hair styling. As the business grows, compensation may be adjusted to align with industry standards and level of expertise.
Employees or contractors, if hired, will fit into business operations by providing makeup services and assisting with administrative tasks such as scheduling appointments and managing inventory. They will be compensated according to their level of experience and job responsibilities.
Use of Funds
Below is an itemized list of how the funds will be utilized. The total amount needed for startup costs is $50,000.
Our financial plan is designed to ensure the smooth functioning of the business and to establish a strong brand presence in the market. It is important to utilize our funds efficiently to achieve our revenue targets and establish a profitable makeup artist studio.
Our makeup artist business intends to build a reputable brand that offers high-quality services to our clients. In the long-term, we plan to hand over the business to a trusted family member or employee who shares our vision and values. Alternatively, we could sell the business to interested investors or companies looking to expand their beauty services. Our goal is to ensure a smooth transition that preserves the integrity of our brand and provides continued value to our loyal clientele.
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Artist Business Plan Template
Written by Dave Lavinsky
Artist Business Plan
Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their artist businesses and art galleries . We have the experience, resources, and knowledge to help you create a great business plan.
In this article, you will learn some background information on why business planning is important. Then, you will learn how to write an artist business plan step-by-step so you can create your plan today.
Download our Ultimate Business Plan Template here >
What Is a Business Plan?
A business plan provides a snapshot of your artist business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.
Why You Need a Business Plan
If you’re looking to start an artist business or grow your existing artist company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your artist business to improve your chances of success. Your artist business plan is a living document that should be updated annually as your company grows and changes.
Sources of Funding for Artist Businesses
With regards to funding, the main sources of funding for an artist business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for artist companies.
Finish Your Business Plan Today!
How to write a business plan for an artist business.
If you want to start an artist business or expand your current one, you need a business plan in the proper business plan format . The guide below details the necessary information for how to write each essential component of your artist business plan.
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your executive summary is to quickly engage the reader. Explain to them the kind of artist business you are running and the status. For example, are you a startup, do you have an artist business that you would like to grow, or are you operating a chain of artist businesses?
Next, provide an overview of each of the subsequent sections of your plan.
- Give a brief overview of the artist industry.
- Discuss the type of artist business you are operating.
- Detail your direct competitors. Give an overview of your target customers.
- Provide a snapshot of your marketing strategy. Identify the key members of your team.
- Offer an overview of your financial plan.
In your company overview, you will detail the type of artist business you are operating.
For example, you might specialize in one of the following types of artist businesses:
- Antiques: This type of artist business may include the restoration, curation, and auction of antique furniture and other items.
- Art Consultant: This type of artist business involves helping clients find and select art pieces for their own collections.
- Tattoo Artist: Tattoos are a popular way for artists to earn money by tattooing permanent ink art onto their customers.
- Photography: Photographers may specialize in certain categories like wedding photography or nature photography.
- Graphic design: This type of business encompasses all kinds of design from creating logos and marketing materials for businesses to creating websites and designing products.
- Art teacher: This type of artist business involves art instruction and can include anything from teaching an elementary school art class to a recreational painting class, or an online art course.
In addition to explaining the type of artist business you will operate, the company overview needs to provide background on the business.
Include answers to questions such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include the number of clients served, the number of art pieces sold, reaching $X amount in revenue, etc.
- Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
In your industry or market analysis, you need to provide an overview of the artist industry.
While this may seem unnecessary, it serves multiple purposes. First, researching the artist industry educates you. It helps you understand the market in which you are operating. Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends. The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your artist business plan:
- How big is the artist industry (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in the market?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential target market for your artist business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.
The customer analysis section of your artist business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: individuals, schools, families, and corporations.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of artist business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.
Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.
Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other art businesses. Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This may include other sources of art pieces, auctions, or resellers. You need to mention such competition as well.
For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as
- What types of customers do they serve?
- What type of artist business are they?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
- Will you make it easier for your customers to engage with your product or service?
- Will you offer products or services that your competition doesn’t?
- Will you provide better customer service?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a artist business plan, your marketing strategy should include the following:
Product : In the product section, you should reiterate the type of artist company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you sell paintings or sculptures, consult on various art pieces, instruct a painting class, etc?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.
Place : Place refers to the site of your artist company. Document where your company is situated and mention how the site will impact your success. For example, is your artist business located in a busy retail district, a business district, a standalone office, or purely online? Discuss how your site might be the ideal location for your customers.
Promotions : The final part of your artist marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:
- Advertise in local papers, radio stations and/or magazines
- Reach out to websites
- Distribute flyers
- Engage in email marketing
- Advertise on social media platforms
- Improve the SEO (search engine optimization) on your website for targeted keywords
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your artist business, including answering calls, meeting with clients, billing and collecting payments, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth client, or when you hope to reach $X in revenue. It could also be when you expect to expand your artist business to a new city.
To demonstrate your artist business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally, you and/or your team members have direct experience in managing artist businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing an artist business or successfully running a small curation business.
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.
An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you meet with 5 clients per day, and will you charge by the hour for art consultation services? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your artist business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement
Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.
When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a artist business:
- Cost of equipment and office supplies
- Payroll or salaries paid to staff
- Business insurance
- Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or a sample of your artist portfolio.
Writing a business plan for your artist business is a worthwhile endeavor. If you follow the sample template above, by the time you are done, you will have an expert artist business plan; download it to PDF to show banks and investors. You will understand the artist industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful artist business.
Artist Business Plan Template FAQs
What is the easiest way to complete my artist business plan.
Growthink's Ultimate Business Plan Template allows you to quickly and easily write your artist business plan.
How Do You Start an Artist Business?
Starting an artist business is easy with these 14 steps:
- Choose the Name for Your Artist Business
- Create Your Artist Business Plan
- Choose the Legal Structure for Your Artist Business
- Secure Startup Funding for Your Artist Business (If Needed)
- Secure a Location for Your Business
- Register Your Artist Business with the IRS
- Open a Business Bank Account
- Get a Business Credit Card
- Get the Required Business Licenses and Permits
- Get Business Insurance for Your Artist Business
- Buy or Lease the Right Artist Business Equipment
- Develop Your Artist Business Marketing Materials
- Purchase and Setup the Software Needed to Run Your Artist Business
- Open for Business
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The big idea—making money
Strategy and tactics, milestones and metrics, essential business numbers, remember: it’s planning that matters, not just the plan, how to write a business plan for an artist’s business.
6 min. read
Updated November 1, 2023
“But how can I write a business plan? I’m an artist.”
He was one of my favorite students in the class I used to teach on starting a business. He had a delightful way of challenging assumptions, occasionally on the basis that art, by its very nature, was above—or perhaps immune—to cash flow. As a student, he was engaged, intelligent, and eager to learn; so yes, he was one of my favorites.
“What, you aren’t going to sell paintings?” I responded. “You don’t plan to pay your rent and other expenses? You don’t care if checks bounce?”
How you make money is at the heart of an artist’s business plan
He agreed, somewhat begrudgingly, that maybe an artist wanted to survive in the world like anybody else.
On reflection, he decided that he liked the idea of making a living without abandoning his art. In the end, he saw himself in a condition similar to the professional, like a bookkeeper or consultant, faced with the idea of doing what he loved, in conjunction with a plan.
In this case, being an artist meant creating paintings to be hung on walls. But “artist” can mean a broad range of related things, from fine art and (ugh, so crass) commercial art, to design, writing, acting, stand-up comedy, and even live art. I’m in favor of whatever works for you and in awe of people who actually manage to combine talent, passion, and hard word to make that work for them as a way of life. Hats off.
So how do you make a business plan and use it to optimize the business side of your art? Here are some suggestions.
Free Download: Sample Arts and Crafts Business Plan Templates
The first big hurdle for the artist business plan is what they call the business model, or, if you don’t like the trendy buzzword, how you make money.
If you’re a performer, I assume it’s about gigs, managers, and that stuff. Or, it’s about selling your paintings, sculptures, or photographs. Maybe you’re okay with being the starving artist, but if not, it’s “show me the money.” Don’t discount the obvious—take a look at the results of a quick web search, in the illustration here, for “where to sell my paintings.”
Don’t completely discount the related businesses. Writers teach literature, painters teach fine arts. There are galleries. There are websites buying, selling, and collecting art. You can be as creative with the business model as you are with your art. Stand-up comedy is a tough career, I hear, but there are people getting around the gatekeepers using YouTube and downloads.
One of my personal favorite artist-with-a-plan stories is the story of Paul Anthony and Rumblefish. He was a talented musician—a drummer who built a business around selling music rights for films and ads. He started from his dorm room at the University of Oregon in 1996; he sold his company, Rumblefish.com, for $27 million in 2015.
Eventually, you settle in on how you hope to make money. Talk to people about it, search the web, sample websites, ads, displays, prices—get as much how-to information as you can and settle in on what you’re going to try.
That is the heart of your artist business plan: how you make money.
Strategy is focus. It’s as much about what you don’t do as what you do. Figure out where you are going to concentrate your business efforts. It could be as simple as what kind of work you sell, to whom, through what channels. Or it might be what kind of performance, and how you reach the gatekeepers. Think about what makes you different, who will buy from you, and what you sell to them.
With strategy set, you need tactics to execute. Tactics are decisions you make about pricing, channels, websites, social media, managers, agents, stores, overhead, allies, and so forth. Make sure your tactics match your strategy.
For more on strategy and tactics, check out Strategy Is Useless without Execution and Strategic Plan for Your Business, also here on Bplans. If you’re a LivePlan user, determining your strategy and tactics can be as simple and direct as filling out the pitch page in LivePlan, which defines market, strategy, tactics, and so forth. If not, strategy and tactics can be as easy as a few bullet points you set down and keep track of. You don’t have to include long eloquent texts to make a business plan for yourself. Just include what you need, and will use.
Think through some manageable and measurable milestones—goals—you’re going to meet along the way. It might be your first gig; your first painting sold; your first painting available through some website; your first YouTube video posted, or the 100th; or maybe reaching 500 likes or 1,000 followers; or getting on the Jimmy Fallon show. Try to spell it out, though, so you can aim for it and work toward it.
The metrics help you track progress. Units sold, gigs, unique visitors, conversion rates, viewers, likes, follows—avoid having a plan full of generalities only. Keep it concrete and specific so you can use it to guide yourself and optimize your business.
For more on that, read Milestones Make Your Business Plan a Real Plan. For a personal view of metrics, with some suggestions, read my post on my blog here at Bplans: Magic of Metrics, Tyranny of Metrics.
Although a lot of people fear forecasts, don’t. It’s easier to do essential forecasts than to run a business without them. A simple sales forecast can be extremely helpful for your business later, as you track actual results, compare them to the forecast, and analyze the difference. What went right? What went wrong? Where were you off? If you don’t lay out a forecast first, you lose the opportunity to follow up with the management of it.
And yes, I know, you’re an artist, that’s not what you do. It’s hard on the self-image, but it’s good for the bank balance. You can do it, and it will help you succeed. Consider this previous post:
Do a spending budget linked to the sales forecast. A lot of your spending—marketing activities, for example—ought to have a direct connection with the projected sales that will result. For more on that, try my recent post on my blog here at Bplans: How to Do a Spending Budget. That’s part of a whole series I finished recently, on standard business plan financials.
And, most important, plan your cash flow. Make sure you have enough cash in the bank to pay your rent and other bills. Having enough sales is a critical first step, managing spending is next, and then make sure you have the full cash flow including things like loan repayment, buying inventory, and supplies. For more on cash flow, try this post: How to Forecast Cash Flow.
The point of the business plan for most artists isn’t just having the plan; it’s using it to optimize your business. Expect your plan to change often. It’s a cycle that starts with the first plan and continues from then on, as long as you are in business. I call it P-R-R-R, as in the illustration here on the right.
Use it like a dashboard, a tool for checking your progress against goals, for tracking results, and doing regular course corrections. Think of it as a business navigation system, which includes destination, route, and—with regular review and revisions—real-time information to adjust the route as you go.
See why 1.2 million entrepreneurs have written their business plans with LivePlan
Tim Berry is the founder and chairman of Palo Alto Software , a co-founder of Borland International, and a recognized expert in business planning. He has an MBA from Stanford and degrees with honors from the University of Oregon and the University of Notre Dame. Today, Tim dedicates most of his time to blogging, teaching and evangelizing for business planning.
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How To Write a Makeup Business Plan + Template
Creating a business plan is essential for any business, but it can be especially helpful for makeup businesses that want to improve their strategy and/or raise funding.
A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.
This article provides an overview of the key elements that every makeup business owner should include in their business plan.
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What is a Makeup Business Plan?
A makeup business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.
Why Write a Makeup Business Plan?
A makeup business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.
Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.
Writing an Effective Makeup Business Plan
The following are the key components of a successful makeup business plan:
The executive summary of a makeup business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.
- Start with a one-line description of your makeup company
- Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.
This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.
If you are just starting your makeup business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your makeup firm, mention this.
You will also include information about your chosen makeup business model and how, if applicable, it is different from other companies in your industry.
The industry or market analysis is an important component of a makeup business plan. Conduct thorough market research to determine industry trends and document the size of your market.
Questions to answer include:
- What part of the makeup industry are you targeting?
- How big is the market?
- What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?
You should also include sources for the information you provide, such as published research reports and expert opinions.
This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.
For example, the customers of a makeup business may include:
- Special occasion customers: those who need makeup for weddings, proms, etc.
- Fashion models: people who need a professional look on a daily basis
- Professionals: makeup artists and other professionals in the industry
You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.
Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or makeup services with the right marketing.
The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.
For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.
Below are sample competitive advantages your makeup business may have:
- Quality of products
- Range of products
- Customization services
- Competitive prices
- Expertise of staff
This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.
- Product/Service : Detail your product/service offerings here. Document their features and benefits.
- Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
- Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
- Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or, you may promote your makeup business via word-of-mouth.
This part of your makeup business plan should include the following information:
- How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
- What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?
The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.
Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a makeup business include reaching $X in sales. Other examples include adding new products or services, expanding to new markets, or launching a new marketing campaign.
List your team members here including their names and titles, as well as their expertise and experience relevant to your specific makeup industry. Include brief biography sketches for each team member.
Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.
Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix).
This includes the following three financial statements:
Your income statement should include:
- Revenue : how much revenue you generate.
- Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
- Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.
Sample Income Statement for a Startup Makeup Business
Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:
- Assets : All of the things you own (including cash).
- Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
- Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.
Sample Balance Sheet for a Startup Makeup Business
Cash flow statement.
Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:
- Cash Flow From Operations
- Cash Flow From Investments
- Cash Flow From Financing
Below is a sample of a projected cash flow statement for a startup makeup business.
Sample Cash Flow Statement for a Startup Makeup Business
You will also want to include an appendix section which will include:
- Your complete financial projections
- A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
- Any other documentation which supports what you included in the body of your business plan.
Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your makeup company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.
The goal in creating your business plan is to articulate a clear and concise message that will serve as your roadmap to success. A well-written business plan will also help you secure funding from investors, lenders, or other sources.
Finish Your Makeup Business Plan in 1 Day!
Other helpful articles.
How To Write a Beauty Business Plan + Template
How To Write a Beauty Bar Business Plan + Template
How To Write a Beauty Supply Business Plan + Template
How To Write a Bridal Makeup Business Plan + Template
How To Write a Makeup Artist Business Plan + Template
How To Write a Permanent Makeup Business Plan + Template