If you are looking for a sample makeup artist business plan template, here is a guide for starting a studio or freelance makeup business.
Makeup artists provide highly valuable services to a variety of clients. The human face is the canvas while the artists enhances or accentuates the natural beauty. Makeup artists are an essential part of the beauty industry.
STUDIO AND FREELANCE MAKEUP ARTIST BUSINESS PLAN EXAMPLE
Hence, this makeup artist business plan sample will provide helpful tips on how to put together a great plan for your business.
- Experience is Crucial
Experience is an indispensable requirement for establishing a makeup artist business. To get this experience, you need to have been involved in the industry for a significant amount of time. During this time, continuous practice gives you the experience edge. Before gaining this critical experience, you are expected to have studied as an Aesthetician. Your education and experience is the starting point for establishing a thriving makeup business.
We recommend that you try working for a beauty brand. This gives you significant experience in the daily grind of running a makeup business. There are always important lessons to be learnt as well as understanding what works and what doesn’t.
- Are You Creative Enough?
This question seems a bit off but necessary. You may ask “isn’t a makeup artist supposed to be creative?” Some people enter the business for the wrong reasons (quick money etc). As a matter of fact, such people may lack creativity altogether. This (creativity), coupled with passion and attention to detail are ingredients for success.
- Have a Business Plan
No matter how skillful you are as a makeup artist, running your business without a plan is akin to starting a car with no one at the wheels. It will only be a matter of time before it reaches its demise. There are several sections in a plan. Your makeup artist business plan should include sections such as the executive summary, a business description, market analysis and organizational management.
Other parts vital to your business plan include your range of makeup services, how you intend to market your business or increase sales. There is also the financial projections that should include balance sheets as well as a funding request if you need to raise or source for financing.
- Taking Care of the Business Side of Things
Apart from having a workable plan, there are other factors necessary for the smooth take off and running of your makeup business. Some of these include registration with relevant bodies, obtaining city regulations and licensing. Others include finding about business tax regulations and facility requirements for a brick and mortar location. Let’s discuss each of these briefly;
- Health Department Regulations
To kick start the process of setting up your makeup artist business, consider visiting your state’s board of cosmetology. This is a crucial step you do not want to overlook. This body provides you with a wealth of information including all health department regulations as well as requirements set by the city for businesses like yours.
Before applying for a business, you should have a business name ready. This will be checked to see if it has been taken. Your type of business, location/address and structure (sole proprietorship, LLC or partnership etc) will also be required.
- Facility Requirements
Before your makeup artist business takes off, you will need to fulfill all requirements by the regulatory bodies. These cover the necessary provisions for a brick and mortar business outlet. The basic facility requirements include an effective ventilation system, availability of cold and hot water, availability of clean drinking water, as well as bathrooms. There may be additional requirements hence you need to find out from your state’s board of cosmetology.
- Business Tax Regulations
It is important that you find out what your tax obligations are. These would include both state and federal taxes. You need to find out what applies to your business. The Internal Revenue Service IRS as well as State departments of revenue have their different requirements. When registering your makeup artist business, you will be required to obtain all of these.
- Purchase the Right Type of Equipment
The quality of your work tools combined with skill and experience as a makeup artist determines the outcome. Hence to create a brand known for excellence, you need to seriously consider the type and quality of your tools. Some of these include; Q-Tips or Cotton buds; This is used to clean up and tidy the rough edges of a makeup to achieve a desired result. There are times when errors are made and would need to be neatly cleaned. This comes in handy.
Other makeup kit or tools include foundation brush, lip brush, eye shadow brushes, precision brush, powder brush, blush brush and concealer brush. There are also hair clips, disposable lip wands and mascara, steel palettes and cosmetic spatulas, false eyelashes and lash glue among many more. It’s best to conduct a market survey first. This enables you to balance quality with durability as well as affordability.
- Marketing your Business
If you have been active in the makeup industry before, you will have a good understanding of what it takes to sell your business to your target market. That is why we recommend working with an established makeup artist business first. This gives your business an edge as well as a wider reach. You are able to know and adopt strategies that work while discarding those which do not.
This makeup artist business plan sample has provided tips that will be of immense help when launching your new business. We have seen that experience and skill matter. To ensure a smooth take-off, these two should never be in short supply. Other equally vital areas required for setting up a business need to be looked into. Some of these have been provided above. Using this information, you are able to put together a detailed and implementable plan.