- Blog for Business
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
How to Start your own Makeup Artist Business
A makeup artist specializes in changing the appearance of various customers. These changes are created by a combination of makeup, specialized tools, and artistic talent. Such businesses are an essential part in filling a community with confidence, spirit, and pride by making them feel better about their appearance or achieve a particular look.
You may also be interested in additional side hustle ideas .
Learn how to start your own Makeup Artist Business and whether it is the right fit for you.
Ready to form your LLC? Check out the Top LLC Formation Services .
Start a makeup artist business by following these 10 steps:
- Plan your Makeup Artist Business
- Form your Makeup Artist Business into a Legal Entity
- Register your Makeup Artist Business for Taxes
- Open a Business Bank Account & Credit Card
- Set up Accounting for your Makeup Artist Business
- Get the Necessary Permits & Licenses for your Makeup Artist Business
- Get Makeup Artist Business Insurance
- Define your Makeup Artist Business Brand
- Create your Makeup Artist Business Website
- Set up your Business Phone System
We have put together this simple guide to starting your makeup artist business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
Exploring your options? Check out other small business ideas .
STEP 1: Plan your business
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
What will you name your business?
- What are the startup and ongoing costs?
- Who is your target market?
How much can you charge customers?
Luckily we have done a lot of this research for you.
Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Makeup Artist Business Name Generator
If you operate a sole proprietorship , you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.
When registering a business name , we recommend researching your business name by checking:
- Your state's business records
- Federal and state trademark records
- Social media platforms
- Web domain availability .
It's very important to secure your domain name before someone else does.
Want some help naming your makeup artist business?
Business name generator, what are the costs involved in opening a makeup artist business.
One of the best things about a makeup artist business is that it has a relatively low starting cost. This is because if you are willing to travel to clients' homes or businesses or allow them into your own home, you will not need to pay the costly overhead and utilities of a business lease. In that case, you can start your business for $8,000 or less. Five hundred of that amount goes towards paying for the design of a professional website, while $2500 should go towards traditional advertising to let your community know about your grand opening. The remaining $5,000 goes towards purchasing new makeup and makeup supplies, including a variety of foundations, eyeshadows, lipsticks, and more. Your supplies will include various exfoliants, self-tanners, emulsifiers, and many more. While you can start your business by purchasing less than $5,000 of supplies, it is important to remember that the more supplies you have, the more services you can offer.
What are the ongoing expenses for a makeup artist business?
Once you have your initial makeup and supplies, your only real ongoing expenses will be advertising (likely $200 or less per month), additional makeup and supplies ($150-$200 a month), and the cost of gas for any travel that you do (which will vary).
Who is the target market?
While people of all genders and ages may want your services, your primary demographic will be young women between the ages of fifteen and thirty.
How does a makeup artist business make money?
Primarily, a makeup artist makes money by charging fixed prices for a variety of different makeup services. You may also make money by selling makeup and makeup supplies.
How much you can charge customers varies significantly because of the variety of services that makeup artists offer. For instance, you may offer basic makeovers for $39.99, more specialized makeovers (such as for Prom) for $59.99, and more extravagant makeovers (such as for a wedding) for $194.99. For all of your prices, be sure you have researched your local competition and are not over (or under) selling yourself.
How much profit can a makeup artist business make?
The amount of profit you can make depends on the exact number of customers you have and the exact services they request. A makeup artist performing 49 or more makeovers a week, for instance, will have a six-figure salary before taxes, though realistically, it will take time to set up a regular stream of new and returning customers.
How can you make your business more profitable?
As your business and your own experience grows, don't be afraid to increases your prices. If it is within your skill set, try to diversify your business: being able to do both hair and makeup, for instance, makes you twice as marketable. Finally, make sure that you rotate your advertising and your services to reflect certain high seasons for makeup (such as Homecoming, Prom, and even Halloween).
Want a more guided approach? Access TRUiC's free Small Business Startup Guide - a step-by-step course for turning your business idea into reality. Get started today!
STEP 2: Form a legal entity
The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC) , and corporation .
Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your makeup artist business is sued.
Form Your LLC
Read our Guide to Form Your Own LLC
Have a Professional Service Form your LLC for You
Two such reliable services:
You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.
Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services . You can choose to hire a registered agent or act as your own.
STEP 3: Register for taxes
You will need to register for a variety of state and federal taxes before you can open for business.
In order to register for taxes you will need to apply for an EIN. It's really easy and free!
You can acquire your EIN through the IRS website . If you would like to learn more about EINs, read our article, What is an EIN?
There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.
STEP 4: Open a business bank account & credit card
Using dedicated business banking and credit accounts is essential for personal asset protection.
When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .
Open a business bank account
Besides being a requirement when applying for business loans, opening a business bank account:
- Separates your personal assets from your company's assets, which is necessary for personal asset protection.
- Makes accounting and tax filing easier.
Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.
Get a business credit card
Getting a business credit card helps you:
- Separate personal and business expenses by putting your business' expenses all in one place.
- Build your company's credit history , which can be useful to raise money later on.
Recommended: Apply for an easy approval business credit card from BILL and build your business credit quickly.
STEP 5: Set up business accounting
Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.
Make LLC accounting easy with our LLC Expenses Cheat Sheet.
STEP 6: Obtain necessary permits and licenses
Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.
State & Local Business Licensing Requirements
Certain state permits and licenses may be needed to operate a makeup artist business. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits .
Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses .
STEP 7: Get business insurance
Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.
There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.
Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.
FInd out what types of insurance your Makeup Artist Business needs and how much it will cost you by reading our guide Business Insurance for Makeup Artist Business.
STEP 8: Define your brand
Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.
If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.
Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .
If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.
How to promote & market a makeup artist business
You should use traditional media to market your business when you can, including newspaper and radio ads (especially when you first open). You may also consider networking with barbers and other adjacent industries to help advertise for one another in your respective stores. Be sure you advertise heavily via social media: it takes little to no money to do so, and the highly visual nature of things like Instagram is uniquely suited to showing off your work.
How to keep customers coming back
In addition to the advertising methods mentioned above, consider offering discounts, free services, or even free makeup as a reward to customers who refer their friends. Use your social media pages to run contests intended to build interest and gain customers. Finally, try some non-traditional advertising such as offering basic makeovers at public parks and festivals. This lets customers see what you can do with a few simple tools and entices them to contact you for additional service.
STEP 9: Create your business website
After defining your brand and creating your logo the next step is to create a website for your business .
While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.
Here are the main reasons why you shouldn’t delay building your website:
- All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
- Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
- Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.
Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .
Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .
STEP 10: Set up your business phone system
Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.
There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.
Recommended Business Phone Service: Phone.com
Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.
TRUiC's Startup Podcast
Welcome to the Startup Savant podcast , where we interview real startup founders at every stage of the entrepreneurial journey, from launch to scale.
Is this Business Right For You?
First and foremost, this job is ideal for those who are very skilled in applying makeup to themselves and others. Those with artistic skills find it easier to transition into this line of work, while anyone with previous work experience in the cosmetic industry will be able to start their own business much easier.
Want to know if you are cut out to be an entrepreneur?
Take our Entrepreneurship Quiz to find out!
What happens during a typical day at a makeup artist business?
In terms of serving customers, each day for a makeup business can be slightly different. Some customers want simple help with things like powder and lipstick to look good for a single event, while others may want more permanent alterations such as false eyelashes. On a busy day, most of your time is spent helping individual customers. Downtime may be spent ordering and receiving new makeup supplies, advertising your business, and networking with others in the cosmetics industry.
You might also spend time traveling to locations like film or television sets, theatre groups, and the like applying makeup for specific purposes, like horror makeup, creating the appearance of a corpse, etc.
What are some skills and experiences that will help you build a successful makeup artist business?
As mentioned before, any previous experience in the cosmetics industry is very helpful in establishing your business. While not necessary, any formal education through beauty school or other cosmetics programs can also help develop these skills. Finally, extensive personal experience with trying different kinds of makeup and helping others apply makeup will provide much of the necessary experience you'll need.
What is the growth potential for a makeup artist business?
The growth potential for this business is steady, as the Bureau of Labor and Statistics predicts that jobs in this and other cosmetic industries to grow by ten percent between 2014 and 2024.
Not sure if a makeup artist business is right for you? Try our free Business Idea Generator and find your perfect idea.
TRUiC's YouTube Channel
For fun informative videos about starting a business visit the TRUiC YouTube Channel or subscribe to view later.
Take the Next Step
Find a business mentor.
One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.
Having a support network in place to turn to during tough times is a major factor of success for new business owners.
Learn from other business owners
Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.
Resources to Help Women in Business
There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:
If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.
What are some insider tips for jump starting a makeup artist business?
If at all possible, try to work for another makeup artist before striking out on your own. This gives you an invaluable wealth of experience regarding what you should and shouldn't do. Don't be afraid to make your friends and family some of your first customers: they will be more forgiving, and their new looks will help to advertise your business. Finally, don't forget more traditional business techniques such as signing your customers up for email lists and keeping them up to date on your business and entice them to return.
How and when to build a team
Many home-based makeup artists work solo. However, once you have a steady stream of customers and are having difficulty serving everyone, you may consider building a small team and eventually branching out into a standalone location.
- International Makeup Association
- Professional Beauty Association
- IAPO International Association of Professional Makeup Artist
Real World Examples
- Lorin Cole Makeup Artist
- Kimberly Bosso Celebrity Makeup Artist
- How to build up a makeup artistry business
- Job Description of a Makeup Artist
Have a Question? Leave a Comment!
How To Write a Makeup Artist Business Plan + Template
Creating a business plan is essential for any business, but it can be especially helpful for a makeup artist business that wants to improve your 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 artist business owner should include in your business plan.
Download the Ultimate Business Plan Template
What is a Makeup Artist Business Plan?
A makeup artist 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 Artist Business Plan?
A makeup artist 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 your new company or venture, especially if you are inexperienced in starting a business.
Writing an Effective Makeup Artist Business Plan
The following are the key components of a successful makeup artist business plan:
The executive summary of a makeup artist 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 artist 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 artist 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 artist firm, mention this.
You will also include information about your chosen makeup artist 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 artist 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 artist 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 artist business may include:
- Professionals who need a polished look
- Men or women who want to cover blemishes
- Older customers who want a more youthful appearance
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 artist 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 artist business may have:
- Proven industry experience
- Strong focus on customer service
- Wide range of services offered
- Use of high-quality products and materials
- Affordable prices
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 artist business via word-of-mouth.
This part of your makeup artist 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 artist business include reaching $X in sales. Other examples include hiring X number of employees or opening up X new locations.
List your team members here including their names and titles, as well as their expertise and experience relevant to your specific makeup artist 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 Artist 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 Artist 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 artist business.
Sample Cash Flow Statement for a Startup Makeup Artist 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 artist company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.
Create your business plan 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 Artist Business Plan in 1 Day!
Cosmetic Business Plan Template
Written by Dave Lavinsky
Cosmetic Business Plan
Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their cosmetic companies.
If you’re unfamiliar with creating a cosmetic business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. 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 a cosmetic 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 cosmetic 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 a cosmetic business or grow your existing cosmetic company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your cosmetic business to improve your chances of success. Your cosmetic business plan is a living document that should be updated annually as your company grows and changes.
Sources of Funding for Cosmetic Businesses
With regards to funding, the main sources of funding for a cosmetic 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 cosmetic companies.
How to Write a Business Plan for a Cosmetic Business
If you want to start a cosmetic business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your cosmetic 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 cosmetic business you are running and the status. For example, are you a startup, do you have a cosmetic business that you would like to grow, or are you operating a chain of cosmetic businesses?
Next, provide an overview of each of the subsequent sections of your plan.
- Give a brief overview of the cosmetic industry.
- Discuss the type of cosmetic 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 cosmetic business you are operating.
For example, you might specialize in one of the following types of cosmetic businesses:
- Niche market cosmetics: This type of cosmetic business specializes in one particular segment of cosmetics. For instance, a niche cosmetic business could sell only fragrance-free products, all vegan products, or gluten free products.
- High-end cosmetics: This type of cosmetic business develops and sells premium make-up and skin care products.
- Kids cosmetics: This type of cosmetic business specializes in producing inexpensive play-makeup products for children.
- Beauty blogger/influencer: This type of cosmetic business involves trying out products from different types of cosmetic brands and providing tutorials, reviews, and other helpful information for people who may be interested in the products. Usually, beauty companies will pay the blogger/influencer to sample or endorse their products.
- Make-up Artist: This type of cosmetic business involves providing make-up services for special occasions like weddings or graduation ceremonies.
In addition to explaining the type of cosmetic 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 customers served, the number of products sold, and 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 cosmetic industry.
While this may seem unnecessary, it serves multiple purposes.
First, researching the cosmetic 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 cosmetic business plan:
- How big is the cosmetic 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 cosmetic 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 cosmetic business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: individuals, families, and corporations.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of cosmetic 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.
Finish Your Cosmetic Business Plan in 1 Day!
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With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!
Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other cosmetic businesses.
Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes mass market cosmetic brands and retailers, as well as secondhand cosmetic retailers. 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 cosmetic 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 customers to acquire your products?
- 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 cosmetic business plan, your marketing strategy should include the following:
Product : In the product section, you should reiterate the type of cosmetic company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide premium make-up, skin care products, or esthetician services?
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 cosmetic company. Document where your company is situated and mention how the site will impact your success. For example, is your cosmetic business located in a busy retail district, a business district, a standalone store, or purely online? Discuss how your site might be the ideal location for your customers.
Promotions : The final part of your cosmetic 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 cosmetic business, including answering calls, stocking shelves, greeting customers, and collecting payments, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to acquire your Xth customer, or when you hope to reach $X in revenue. It could also be when you expect to expand your cosmetic business to a new city.
To demonstrate your cosmetic 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 cosmetic 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 a cosmetic business or successfully running a small salon.
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 expect to serve 20-30 customers per day, and will each customer purchase 1-5 items on average? 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 cosmetic 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 cosmetic business:
- Cost of equipment and 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 photos of happy customers using your products.
Writing a business plan for your cosmetic business is a worthwhile endeavor. If you follow the template above, you will be able to prepare a winning beauty product business plan, makeup business plan or a business plan for a cosmetic company. You will understand the cosmetic industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful cosmetic business.
Cosmetic Business Plan FAQs
What is the easiest way to complete my cosmetic business plan.
Growthink's Ultimate Business Plan Template allows you to quickly and easily write your cosmetic business plan.
How Do You Start a Cosmetic Business?
Starting a cosmetic business is easy with these 14 steps:
- Choose the Name for Your Cosmetic Business
- Create Your Cosmetic Business Plan
- Choose the Legal Structure for Your Cosmetic Business
- Secure Startup Funding for Cosmetic Business (If Needed)
- Secure a Location for Your Business
- Register Your Cosmetic 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 Cosmetic Business
- Buy or Lease the Right Cosmetic Business Equipment
- Develop Your Cosmetic Business Marketing Materials
- Purchase and Setup the Software Needed to Run Your Cosmetic Business
- Open for Business
Don’t you wish there was a faster, easier way to finish your Cosmetic business plan?
OR, Let Us Develop Your Plan For You
Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.
Click here to see how Growthink’s business plan writers can create your business plan for you.
Other Helpful Business Plan Articles & Templates
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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Back to All Business Ideas
How to Start a Makeup Business
Written by: Howard Tillerman
Howard Tillerman is the Chief Marketing Officer for Step By Step Business and an award-winning marketing professional.
Edited by: David Lepeska
David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.
Published on September 24, 2021 Updated on October 1, 2023
$10,000 - $28,000
$60,000 - $600,000 p.a.
Time to build
$45,000 - $200,000 p.a.
- Decide if the Business Is Right for You
- Hone Your Idea
- Brainstorm a Makeup and Beauty Business Name
- Create a Cosmetic Business Plan
- Register Your Business
- Register for Taxes
- Fund your Business
- Apply for Business Licenses and Permits
- Open a Business Bank Account
- Get Business Insurance
- Prepare to Launch
- Build Your Team
- Run a Makeup Business - Start Making Money!
Makeup Business FAQs
If you’re a beautician or have always wanted to help people look their best, starting a makeup business could be a great fit for you. The beauty industry is nearly a $50 billion market in the US and you could get in on the action and make a good living.
Of course, getting started won’t be easy — you’ll need to work hard and gather the necessary information. Lucky for you, this step-by-step guide lays out all you need to know to develop and launch a beautiful business.
Looking to register your business? A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple.
Form your business immediately using ZenBusiness LLC formation service or hire one of the Best LLC Services .
Step 1: Decide if the Business Is Right for You
Not everyone is cut out to be a beauty entrepreneur. So, the first step is to understand the makeup industry dynamics inside out. Start by evaluating the following factors:
Pros and cons
Launching a makeup business has its upside and downsides. By assessing each side of the coin, you can decide if pursuing the idea is worth your time and effort.
Below is a rundown of some pros and cons of this business:
- Grow into a major beauty brand
- Ingredients are readily available
- Great potential to diversify products
- Establishing a beauty brand takes time
- High startup costs
Makeup industry trends
Cosmetics is the 3rd largest segment in the US beauty industry, with nearly 15% market share, and the global beauty market is worth half a trillion dollars.(( https://www.ibisworld.com/industry-statistics/employment/cosmetic-beauty-products-manufacturing-united-states/ ))
As of early 2022, makeup trends include lip contouring, fluffy eyebrows, more gentle skin creams, all-natural products, and more colorful, high-impact eye makeup.
Industry size and growth
- Industry size and past growth – Makeup products represent 16% of the global cosmetics market value, which was estimated at $81 billion.(( https://www.statista.com/topics/3137/cosmetics-industry/ )) The US cosmetics industry is valued at $18 billion, after a strong 22% growth in 2021 and an average annual growth of 3% since 2017.(( https://www.statista.com/outlook/cmo/beauty-personal-care/cosmetics/united-states ))
- Growth forecast – The US cosmetics industry is expected to grow 5% annually through 2026.
- Number of businesses – There are more than 4,000 cosmetics and beauty products manufacturing businesses in the US.(( https://www.ibisworld.com/industry-statistics/number-of-businesses/cosmetic-beauty-products-manufacturing-united-states/ ))
- Number of people employed – The industry employs around 56,000 people.
Trends and challenges
Trends shaping the makeup industry include:
- Ingredient transparency
- Use of all-natural and sustainable ingredients
- Consumer preference for handy and easy-to-use makeup
Challenges in the makeup industry include:
- Maintaining product quality
- Supply chain issues
How much does it cost to start a makeup business?
You’ll need at least $10,000 to start a makeup business, and could spend as much as $28,000. Your big expenses will be inventory, building a website, and marketing. You should also expect to spend good money on research and producing the first batch of products.
How much can you earn from a makeup business?
The cosmetic industry is comfortable with markups as high as 400% on retail sales, one of the highest in any industry. Products that cost $1.50 to make will sell to customers for $6, giving you a profit margin of 75%.
A small, home-based makeup business can expect to sell 10,000 units per year. These sales will generate $60,000 in revenue and a profit of about $45,000. As your business grows and production capacity increases, you can expect to sell 100,000 units per year and generate $600,000 in revenue. But you’d need to hire staff and open a production facility, cutting your margin down to just over 30%. You’d still make a tidy profit of $200,000.
What barriers to entry are there?
Barriers to entry in the cosmetic industry include strict regulation from the Food and Drug Administration (FDA) and the Food and Cosmetics Act. Your products will need to meet the safety requirements of these two regulatory authorities, and at the start, you may have a hard time clearing their hurdles in terms of ingredients and testing.
The second barrier to entry is cutthroat competition. The market is awash with makeup products, making it hard to make inroads and establish a new beauty brand.
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Step 2: hone your idea.
You now have an overview of the makeup industry. The next step is to refine your vision in preparation to enter a competitive market.
Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.
Why? Identify an opportunity
Even on a budget, you can launch a makeup business, manufacture at home and sell online. Joanna and Leslie are perfect examples of entrepreneurs who started small and turned Vive Cosmetics into a multi-million dollar company.
Research other makeup companies to examine their products, price points, and customer reviews, and to see what sells best. You’re looking for a market gap to fill. For instance, maybe there’s no company out there focusing only on eye makeup or all-natural skin creams.
You might consider targeting a niche market by specializing in a certain aspect of your industry, such as lipstick or eyelashes.
This could jumpstart your word-of-mouth marketing and attract clients right away.
What? Determine your products or services
One of the essential phases of starting any business is deciding what you will sell. Ideally, you want to offer unique products and services. That way, you can stand out from your competition and attract the right customers.
For a makeup business, some products you can sell include:
- Face powder
- Rouge or blush
- Contour powder/ cream
- Lip liner pencil
- Eyebrow pencil/powder
- Setting spray
How much should you charge for makeup products?
Your prices will vary depending on production costs, product type, and your target profit margin. Most makeup items cost from $6 to $10, and it’s important to be competitive.
Once you know your costs, you can use this Step By Step profit margin calculator to determine your markup and final price point. Remember, the price you use at launch should be subject to change if warranted by the market.
Who? Identify your target market
Your target market will be determined by your level of luxury. If you offer more affordable makeup products, you should target younger women, who might be found on TikTok and Instagram. If you go for more of a high-end look, your target market will be established professional women you could find on Facebook and LinkedIn.
Where? Choose your business premises
In the early stages, you may want to run your business from home to keep costs low. But as your business grows, you’ll want to rent out a shop and production facility. Find commercial space to rent in your area on sites such as Craigslist , Crexi , and Instant Offices .
When choosing a commercial space, you may want to follow these rules of thumb:
- Central location accessible via public transport
- Ventilated and spacious, with good natural light
- Flexible lease that can be extended as your business grows
- Ready-to-use space with no major renovations or repairs needed
Step 3: Brainstorm a Makeup and Beauty Business Name
Your business name is your business identity, so choose one that encapsulates your objectives, services, and mission in just a few words. You probably want a name that’s short and easy to remember, since much of your business, and your initial business in particular, will come from word-of-mouth referrals.
Here are some ideas for brainstorming your business name:
- Short, unique, and catchy names tend to stand out
- Names that are easy to say and spell tend to do better
- Name should be relevant to your product or service offerings
- Ask around — family, friends, colleagues, social media — for suggestions
- Including keywords, such as “beauty” or “cosmetics”, boosts SEO
- Name should allow for expansion, for ex: “Flawless Beauty Co.” over “Bridal Beauty Co.”
- Avoid location-based names that might hinder future expansion
- Use online tools like the Step by Step Business Name Generator . Just type in a few keywords and hit “generate” and you’ll have dozens of suggestions at your fingertips.
Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these.
Find a Domain
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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that set your business apart. Once you pick your company name and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.
Step 4: Create a Cosmetic Business Plan
Every business needs a plan. This will function as a guidebook to take your startup through the launch process and maintain focus on your key goals. A business plan also enables potential partners and investors to better understand your company and its vision:
- Executive Summary: Brief overview of the entire business plan; should be written after the plan is complete.
- Business Overview: Overview of the company, vision, mission, ownership, and corporate goals.
- Product and Services: Describe your offerings in detail.
- Market Analysis: Assess market trends such as variations in demand and prospects for growth, and do a SWOT analysis .
- Competitive Analysis: Analyze main competitors, assessing their strengths and weaknesses, and create a list of the advantages of your services.
- Sales and Marketing: Examine your companies’ unique selling propositions (USPs) and develop sales, marketing, and promotional strategies.
- Management Team: Overview of management team, detailing their roles and professional background, along with a corporate hierarchy.
- Operations Plan: Your company’s operational plan includes procurement, office location, key assets and equipment, and other logistical details.
- Financial Plan: Three years of financial planning, including startup costs, break-even analysis, profit and loss estimates, cash flow, and balance sheet.
- Appendix: Include any additional financial or business-related documents.
If you’ve never created a business plan, it can be an intimidating task. You might consider finding and hiring a business plan specialist to create a top-notch business plan for you.
Step 5: Register Your Business
Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.
Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business!
Choose where to register your company
Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you are planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to makeup.
If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state.
Choose your business structure
Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your makeup business will shape your taxes, personal liability, and business registration requirements, so choose wisely.
Here are the main options:
- Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
- Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
- Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
- C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
- S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just needs to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.
We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.
Form Your LLC
Choose Your State
We recommend ZenBusiness as the Best LLC Service for 2023
Step 6: Register for Taxes
The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN.
Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.
The IRS website also offers a tax-payers checklist , and taxes can be filed online.
It is important to consult an accountant or other professional to help you with your taxes to ensure you are completing them correctly.
Step 7: Fund your Business
Securing financing is your next step and there are plenty of ways to raise capital:
- Bank loans: This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
- SBA-guaranteed loans: The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
- Government grants: A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
- Friends and Family: Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
- Crowdfunding: Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
- Personal: Self-fund your business via your savings or the sale of property or other assets.
Bank and SBA loans are probably the best options, other than friends and family, for funding a makeup business. You might also try crowdfunding if you have an innovative concept.
Step 8: Apply for Business Licenses and Permits
Starting a makeup business requires obtaining a number of licenses and permits from local, state, and federal governments.
Federal regulations, licenses, and permits associated with starting your business include doing business as, health license and permit from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits.
For a makeup business, you will need the following licenses and permits:
- A cosmetology license if you plan to apply makeup to your customers
- Manufacturer license if you intend to develop your own makeup line
- Esthetician license if you want to offer skin care services
You can read this FDA fact sheet for more insights on cosmetic industry regulations.
You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more.
You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.
This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.
If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.
Step 9: Open a Business Bank Account
Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .
Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your makeup business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.
Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account.
Step 10: Get Business Insurance
Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.
Here are some types of insurance to consider:
- General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
- Business Property: Provides coverage for your equipment and supplies.
- Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
- Worker’s compensation: Provides compensation to employees injured on the job.
- Property: Covers your physical space, whether it is a cart, storefront, or office.
- Commercial auto: Protection for your company-owned vehicle.
- Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
- Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of any of the above insurance types.
Step 11: Prepare to Launch
As opening day nears, prepare for launch by reviewing and improving some key elements of your business.
Essential software and tools
Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.
You may want to use industry-specific software like Cosmetic Product Manager , BatchMaster , or ProcessPro to manage formulation, R&D, compliance, manufacturing, inventory, and sales.
- Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero .
- If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial.
Develop your website
Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.
You can create your own website using services like WordPress , Wix , or Squarespace . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.
They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google.
Some of your business will come from the casual passerby or online visitor, but still, you should invest in digital marketing! Getting the word out is especially important for new businesses, as it’ll boost customer and brand awareness.
Once your website is up and running, link it to your social media accounts and vice versa. Social media is a great tool for promoting your business because you can create engaging posts that advertise your products:
- Facebook: Great platform for paid advertising, allows you to target specific demographics, like men under age 50 in the Cleveland area.
- Instagram: Same benefits as Facebook but with different target audiences.
- Website: SEO will help your website appear closer to the top in relevant search results, a crucial element for increasing sales. Make sure that you optimize calls to action on your website. Experiment with text, color, size, and position of calls to action such as “Buy Now”. This can sharply increase purchases.
- Google and Yelp: For businesses that rely on local clientele, getting listed on Yelp and Google My Business can be crucial to generating awareness and customers.
Take advantage of your website, social media presence, and real-life activities to increase awareness of your offerings and build your brand. Some suggestions include:
- Competitions and giveaways – Generate interest by offering prizes for customers who complete a certain action, such as 20% discount for new customers.
- Signage – Put up eye-catching signage at your store and website.
- Flyering – Distribute flyers in your neighborhood and at industry events.
- Post a video – Post a video about your makeup. Use humor and maybe it will go viral!
- Limited edition – Offer a one-time version of your makeup.
- Email marketing/newsletter – Send regular emails to customers and prospects. Make them personal.
- Seek out referrals – Offer incentives to generate customer referrals to new clients.
- Paid ads on social media – Choose sites that will reach your target market and do targeted ads.
- Create infographics – Post infographics and include them in your content.
Focus on USPs
Unique selling propositions, or USPs, are the characteristics of a product or service that sets it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your makeup meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire.
Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your makeup business could be:
- The most colors you’ve ever seen
- All-natural makeup for all-natural you
- Luxury makeup at discount prices
You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a makeup business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in makeup for years and can offer invaluable insight and industry connections.
The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in makeup. You’ll probably generate new customers or find companies with which you could establish a partnership. Online businesses might also consider affiliate marketing as a way to build relationships with potential partners and boost business.
Step 12: Build Your Team
If you’re starting out small from a home office, you may not need any employees. But as your business grows, you will likely need workers to fill various roles. Potential positions for a makeup business would include:
- Sales Lead — Selling your products to retail outlets, customers
- Marketing Lead — SEO strategies, social media, etc.
- Safety and Compliance Manager — Ensuring compliance with federal standards
- General Manager — Hiring and firing, inventory and maintenance
At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need.
Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent.
Step 13: Run a Makeup Business – Start Making Money!
Congratulations. You’re now ready to begin your entrepreneurial journey into cosmetics and beauty!
Now’s as good a time as any to make an investment and take some risks because the makeup industry is growing. Even in this age of virtual meetings and webinars, people still apply eyeliner, swipe blush on their cheeks, and put on lipstick before attending virtual events. As more people return to the office with the lifting of pandemic restrictions, makeup sales are expected to increase further. So, what are you waiting for? Take that first step now and start making money!
The first step to starting a makeup business is learning and understanding the FDA regulations. Also, learn how to manufacture the products you want to sell. You will then want to determine your target customers and lay down your marketing strategies.
Yes, it is. In fact, the makeup business has one of the highest markups of any industry. With margins of up to 80 percent, you can generate a net profit of 30 to 65 percent based on the size of your business.
You can use the cost-plus method to price your makeup product. The strategy involves estimating the cost of production and adding a markup that can take care of your expenses and leave you with a reasonable profit. It would be best to consider what your competitors are charging to ensure that you’re within the industry standards when pricing your products.
It is not entirely possible to start a makeup business with no money. The best approach would be to start small. With $5,000 to $10,000, you can get your business up and running. Look for startup capital from angel investors, family, and friends or crowdfunding platforms such as Wefunder .
Starting a makeup business from home is possible with careful consideration of local regulations and licensing requirements. Building a strong professional presence is crucial.
Develop a portfolio showcasing your best work and create a dedicated website or social media profiles to showcase your skills. Offering makeup trials or demonstrations can allow potential clients to experience your services firsthand. Seek testimonials and reviews from satisfied clients to build trust and credibility.
Collaborate with other beauty industry professionals to expand your network and gain referrals. Attend industry events and bridal shows to showcase your skills and make valuable connections. Building a referral network, offering special promotions, and collaborating with influencers can help attract clients. Leveraging social media and networking with wedding vendors can also yield positive results in gaining clients for your makeup business.
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How to start a makeup business in 10 steps.
Why Start a Makeup Business?
Types of businesses in the cosmetic industry, what is the growth potential for a makeup business, 10 steps for how to start a makeup line, bonus tips for success, start your makeup business.
The beauty industry is constantly growing and evolving. New trends are always emerging, which creates opportunities for entrepreneurs in the beauty space.
Whether you want to create a product to sell in a store or launch your own digital storefront, there are many ways to achieve success as a beauty guru.
In this 10-step guide, you’ll discover what it takes to start a makeup business, market your own line and scale your company to success.
There are many reasons to start a cosmetic business. Here are a few of the most popular inspirations for entrepreneurs to get started in the beauty space:
- The ability to start your own brand
- Fulfill the high demand for cosmetics
- Pursue your passion for beauty
- Set your own prices and scale your income
- Sell products in-store or online (remote income)
There is no right or wrong answer when it comes to your “Why” for starting a cosmetic business. Considering your motivations will help you get focused on your end-goal and see your business through to success.
If you want to start a makeup business, there are dozens of ways to go. Choosing a focus is helpful when you’re starting to build your brand . Your niche could be one specific type of product or a line of products that is meant for a very specific type of consumer.
Choosing a niche will make it easier to hone in on your target market, brand your business effectively and stand out in a sea of other beauty brands.
Traditional Makeup Products
Blushes, lipsticks, eyeliners, mascaras, foundation and eyeshadows are all very common makeup products. However, new businesses that get into makeup production create their own lines of these products all the time.
Each of these products comes with a wide range of variations. For example, when it comes to lipsticks, you have glosses, crayons, mattes, metallics and more. This is on top of all of the color options.
When you decide to create any of these products, you will likely need to put your own personal twist on them and create a themed collection.
Please note that creating products like these may take several rounds of testing formulas and measuring qualitative aspects since anything you release must be safe for the skin.
Over the past few years, eyelashes have been a major trend. False lashes are a relatively easy product to sell since they don’t require as much product development as other makeup products.
For the most part, developing a lash product involves ordering the lash styles you like from a supplier and packaging them with your branding. You can sell your lashes in your own store, either online or in a physical storefront.
Alternatively, you can sell your lashes at other makeup retailers like Sephora, Ulta or even drugstores.
Aside from the lashes themselves, it is very important to consider what type of lash glue you are selling with your lashes. Since the adhesive goes so close to the user’s eye, you need to ensure that it’s not harmful if it comes in contact with the eye.
Body makeup works very similarly to concealer, foundation and other makeup you’d use on your face. The purpose of body makeup is to help cover up blemishes, even out your skin tone and get the perfect amount of glow.
Since it is similar in nature to many traditional makeup products, product development and the retail process are very similar.
People are becoming more aware of the ingredients they are putting in and on their bodies. This has created a demand for clean ingredient makeup products.
Consider creating products that are plant-based—nixing chemicals can do wonders for your business. These products are a bit more expensive to manufacture, but there are people who are willing to pay a premium for natural products.
There are people who are willing to invest hundreds of dollars in their makeup even if it’s not made from all plant-based materials. These are typically people who are skilled in the makeup realm—such as makeup artists—and know that high-quality products come at a high price point.
Create a product with the highest quality ingredients available if your goal is to target this market.
The beauty industry is growing quickly as trends evolve and multiply rapidly. As of 2019, the cosmetics industry is worth $532 billion and it is slated to exceed a market value of $805 billion by 2023 . Cosmetic products and skincare alone contribute to nearly 40% of that value.
Additionally, the profit margins for makeup businesses are at an average of 40% and can be up to 80%. As a small makeup business, you’ll likely fall right around the average profit margin.
It is important to note that the cosmetics sector has a few main players that run the show. Not all brands will grow at this rate.
This bit of information should not dissuade you from starting a cosmetic business, but should help you to shape your expectations accordingly.
Starting your own business is exciting, but it can also be confusing if you need help knowing where to start. While there are many paths to success, we’ve outlined the 10 steps you need to help you get started on the right track. With this guide, you’ll have an established beauty brand in no time.
1. Choose a Product
Choose a product that you can create with a unique touch that sets it apart from the competition. You should choose a product that interests you, but you should also ensure there is a demand for what you want to produce.
It’s also wise to consider what it will cost you to produce an item. This will help you set realistic margins and earn a handsome profit on every sale.
We recommend starting with only one or two cosmetic products before growing your business. By choosing one or two beauty products, you can perfect the process and start to build your customer base without a ton of pressure.
2. Create a Business Plan
Before you start developing your product, you should make a business plan. This outlines what you want to sell, who you want to sell it to and how you plan to sell it.
This business plan will be used primarily for your own reference, but it will also help if you are pitching for partnerships, loans, grants or investors.
Your business plan should include:
- A company overview
- Market research analysis
- The legal structure and general organization of your business
- A breakdown of your beauty products
- An overview of your marketing and sales strategy
- A detailed financial outlook
- Any and all files related to your business (contracts, legal documentation, tax information, etc.)
In this step, you work out the logistics of your business. Consider things like how much inventory you plan to hold and what the ordering and shipping process looks like. You can also outline how you will send invoices for your makeup business .
Really dive deep into your target audience. See how potential competitors are serving this audience and figure out how you can do it better, making your brand stand out from the competition.
3. Get Funding
Starting a business requires capital and there are several ways to come up with this capital.
You could fund your business with your own savings. However, if you don’t have the money of your own, you have the option of either borrowing the money or seeking investors.
To take out a business loan, you can start by reaching out to your bank. We encourage you to shop around with other banks to find the best interest rates. Also, check out what the Small Business Administration has to offer.
If you decide to go with an investor, determine if you want a partner who is hands on or if you’d prefer a silent investor. Investors could be family members, friends or business associates. Ideally, you’d want somebody who is trustworthy and has the amount of money that you need.
Additionally, some local organizations have grants available for new business owners. This money is often free, meaning you don’t have to pay it back. Google “business grants in [your location]” to find local programs.
Startup costs for a cosmetic business will vary based on the product you decide to sell and how large of an operation you are looking to run, but there are some basic costs that are pretty much standard across the board.
Here are some investments you may to make when starting your cosmetic business:
- Limited liability company (LLC): $125
- Branding and website: $2,000+
- Product photography or camera equipment: Will vary
- Product development: $5,000+
- Warehouse: Varies by size and location
- Marketing and ads: Will vary
- Packaging: Will vary
There are cheaper alternatives to some of these investments, however pinching pennies may reduce the quality of your product and branding. Your initial goal may be to start small and then scale up once you have revenue coming in.
4. Take Care of the Legalities
When you start a makeup business, you will need to register your business. An LLC should suffice, but a “doing business as” (DBA) or corporation may work better. How you classify your business will depend on local legal requirements.
It’s important that your business is its own legal entity. In the event that an accident occurs due to one of your cosmetic products, you’ll want to make sure you’re protected as an individual.
You will also need to seek a tax identification number for your business entity so that you can pay taxes. This is called an employer identification number (EIN).
Some cosmetic and beauty products require approval by the Food and Drug Administration (FDA). We encourage you to check out the cosmetics page of their website for specific guidelines on developing and labeling your product.
Additionally, you should seek legal assistance if you plan on patterning any element of your brand.
5. Build Your Brand
A brand is essentially the personality you build for your business. It should be designed to connect with your target audience.
You breathe life into your brand by creating an aesthetic that includes a color palette, logo and the like. Additionally, you’ll develop a voice for your brand that shines through in any copy on your website, social media and packaging.
6. Develop Your Product
You have your ideas and plan all laid out. You also have your business model established and the funding ready to go. It is time to develop your product. Everything about your product should be highly representative of your brand.
Hammer out the specifics, including sizes, colors to textures. At this point, you’ll also want to work out packaging. Be very intentional with your packaging because it makes a world of difference.
Pay close attention to the materials and ingredients you use when you manufacture cosmetics. For example, if sustainability is one of your brand’s values, plastic packaging is not on-brand.
Finally, make sure your product is worth what you plan to charge for it. Overcharging customers will not bring them back.
7. Test Your Products
Order samples of your products so that you can test them. Make sure they are the quality you expected in terms of size, color and texture. You should check other qualitative measures such as how waterproof the product is, or how long it lasts.
You may have to go through several rounds of testing before getting it just right.
8. Design a Digital Storefront
Many makeup businesses excel in the world of e-commerce. Even if you plan to sell your products in physical stores, you’ll likely opt for an online storefront as well (and factor it into your business model).
Your website should include a home page, an ‘about’ page, a contact page and shop pages. The shop pages should be easily searched, sorted and filtered so that your customers can find what they are looking for with ease.
Ensure that you use a secure paywall so your customers’ sensitive information is never compromised. Adding payment features like PayPal or plan options also enrich the user experience.
You have two options when it comes to building your online storefront. You can either create it yourself with a drag-and-drop site like Squarespace or you can hire a professional to build it for you.
We recommend hiring a professional so that your site meshes perfectly with your brand and offers a seamless user experience for your customers.
9. Create a Marketing Strategy
It is time to develop a marketing strategy. If you are sticking to e-commerce for your makeup business, both advertisements and content marketing are good options.
Here are a few approaches you can take when creating your marketing strategy:
- Paid ads : Run targeted ads on Facebook, Twitter and Instagram
- Social media marketing : Create engaging content to build a community of followers who could be potential customers
- Search engine optimization : Use SEO to target keywords that your potential customers would be searching
- Influencer marketing : Hire people with large social media followings to talk about using your products and encouraging their followers to purchase their own
Your marketing strategy should depend greatly on your target audience. Design your marketing strategy so that it speaks with your target audience.
This goes for both messaging and the delivery of the message. Speak to them in a language that resonates with them, and make sure you’re delivering the message on a platform that they spend time on.
10. Launch Your Products
Once you have everything ready to go, it is time to launch. Get your followers and supporters excited for the big day and start generating sales. If you’ve followed the steps in this guide, hopefully you’ll have a line of customers waiting at your physical or virtual storefront!
Every entrepreneurial journey is unique, especially in the cosmetics industry where there are so many ways to go when starting a cosmetics business. However, there are some business practices that are universal. Here are a few tips to get customers and grow your makeup business.
Master Social Media
If you are already known and trusted in the online world of makeup—let’s say you’re a respected makeup artist—you will find it much easier to sell your beauty products.
Think about the people who climbed to the top of the cosmetics industry on YouTube. They built personal brands that exemplified their makeup artistry and later went on to create makeup collections of their own.
This process will likely look different for you. But studying their journeys from makeup artists and influencers to creators of makeup collections will give you ideas for your own brand strategy.
Prioritize Customer Appreciation
Let your customers know you appreciate them in a few ways. Use referral systems and giveaways to send free or discounted products to loyal customers.
These small things show your customers how grateful you are for their loyalty to your cosmetics business.
Send Public Relations Boxes
Investing in influencer marketing and sending our public relations (PR) boxes whenever you launch a new collection is a strategy that many successful makeup businesses use.
Seeing all of your new products laid out in an on-brand PR box will really get people excited about your collection. And people will be more likely to buy your products when an influencer they know and trust talks about them.
Many beauty brands create products that are centered around white consumers. They fail to create shades of their products that work for people with darker shades of skin, and their branding often fails to embrace diversity.
Think about how you can include all makeup fans when you design and market your products.
Now that you’re familiar with the basics of the makeup industry, the manufacturing of cosmetics and the 10 steps for building a successful business, you are ready to bring your idea to life.
There are so many possibilities for people who dream of creating a makeup collection of their own. We are confident that you’ll have success in the industry once you set up a solid strategy and get to work.
So what do you say? Are you ready to start your cosmetics business?
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Freelance Makeup Artist Business Plan [Sample Template]
By: Author Tony Martins Ajaero
Home » Business ideas » Beauty Care Industry » Makeup Artist
Are you about starting a freelance makeup artist company? If YES, here is a complete sample freelance makeup artist business plan template & feasibility report you can use for FREE .
Okay, so we have considered all the requirements for starting a freelance makeup artist company. We also took it further by analyzing and drafting a sample freelance makeup artist marketing plan template backed up by actionable guerrilla marketing ideas for freelance makeup artists. So let’s proceed to the business planning section .
Makeup is everywhere. There is hardly any lady you see that may not be wearing makeup. A makeup artist specializes in helping to change the appearance of clients depending on what the request of the client is, either to boost confidence, go out for an occasion or to use professionally.
The changes that are being created by the makeup artist come with a combination of artistic talent, specialized tools and the makeup itself.
Even though the business might look easy enough to start, but not carrying out thorough research before starting the business is likely to do your business a whole lot of harm because it means you will not be prepared for challenges that will occur during the process of starting or running the business.
Most people will prefer to hire a business consultant at this point but if it isn’t something you can afford, you can gain insight about the business from someone who is already in the business. Another thing which needs to get done is writing a comprehensive business plan.
A business plan is very vital because it shows how your business is expected to run and as such it acts as a guide when it comes to making the right decisions for your business. If you do not know how to write a business plan , we have provided a sample make up artist business plan for you below.
A Sample Freelance Makeup Artist Business Plan Template
1. industry overview.
The use of lipstick first came into existence about 5,000 years ago in ancient Mesopotamia when the women of that age used ground precious gem dusts to decorate their lips. However this has changed as the use of makeup and cosmetics became popularised through Hollywood movies.
Globally, the beauty industry grows at an average rate of 7 percent every year which is twice the GDP growth of developed countries.
The growth experienced in this industry is driven by baby boomers that are aging, an increase in discretionary income in western countries and the growth of the middle class in developing countries. This means that beauty firms have it good as only about 3 percent of their sales are put into research and development as compared to the 15 percent spent by pharmaceutical companies.
Beauty firms spend about 20 – 25 percent of their sales on promotion and advertising and the makeup sector in the beauty industry generates revenue of about $18 billion. The cosmetic industry generates $160 billion on a global level. According to research, Americans spend more on beauty than they do on education.
Lipstick during the Roman era was depicted as a status marker as even men used this to indicate their rank. According to statistics, an effect known as the lipstick effect enabled the sales of lipstick to increase during periods of economic downturn as well as on rainy days.
More makeup artists are beginning to manufacture their own brands in order to achieve the intended effect they need for their clients as most feel that having their own brands help boost their image. However, start-up capital is a huge factor delaying most from manufacturing their own brands especially in a market that is already deemed too competitive.
While makeup artists love to create trends with make-ups on their clients, more are opting to allow their clients have simpler looks except when the occasion demands for something else.
2. Executive Summary
Shimmery Beauty Studio is a leading freelance makeup business here in Florida – Miami helping to meet the needs of our clients whatever the occasion might be.
Our vision is to become a well known brand in the makeup industry where we not only anticipate and meet the needs of our intended clients but also ensure that we exceed whatever expectations that they might have had. We are also hoping to be trend setters here in Florida as well.
Our sole intention of establishing the business is to ensure that we generate enough revenue that will enable us sustain and grow our business. We intend to offer as many services as possible in order to ensure that our bottom line is in a healthy condition.
Our offering of other services will also enable us to compete favorably against other similar startups here in Miami – Florida.
The makeup artist industry is service based and as such, it is filled with intense competition which means most of the services being offered are uniform in nature and so it is pertinent that we offer value-added services in order for us to stand out from our competitors in the industry.
We are looking to ensure that we retain as much as customers to our business in the first year of business and so we will be looking to build a solid business structure where we hire the best makeup artists that understand industry trends and therefore help us achieve our desired goals and objectives of not only meeting but also exceeding the expectations of our clients.
We will also ensure that our other staff are competent and proficient enough to fill in the available positions that we would have in our company. Our employees will always receive training to update their skills in order to make them become better than their counterparts in similar start-ups here in Miami – Florida.
We will ensure that our customer service executives receive the right support always that will enable them attend promptly to our clients by ensuring that they remain updated as regards company policies.
Shimmery Beauty Studio is owned and run by Shim Newton and Merry Crabs. Shim has more than 15 years experience as a cosmetologist and Merry has 10 years experience. They have both worked in several industries and are ready to help the business attain its goals and objectives.
3. Our Products and Services
At Shimmery Beauty Studio, our intention is to ensure that we are able to provide all our various clients regardless of the gender and age with the right makeup that will suit whatever occasion that they have in mind.
However, in our bid to ensure that we create multiple sources of income, we intend to add other services to our core service. This is because we understand that offering a variety of services will ensure that we generate more revenue and attain profitability for our business.
However, in our bid to generate profit, we will ensure that everything we are doing is within reasonable ambition and under the permissible laws of the united states of America. Below are some of the products and services that we intend to offer;
- Different makeup services (basic, specialized and extravagant)
- Makeup tutorials
- Sale of makeup supplies
- Consultancy and advisory services
4. Our Mission and Vision Statement
- Our vision is to become a well known brand in the make-up industry where we not only anticipate and meet the needs of our intended clients but also ensure that we exceed whatever expectations that they might have had. We are hoping to be trend setters in the industry.
- Our mission is to ensure that we give professional training to all our make-up artists and to ensure that we remain updated as regards trends in the industry so that our clients can confidently accept our suggestions and information.
Our Business Structure
Regardless of the fact that we intend to run a freelance business, we will not neglect to build a brand that will be a force in the industry, which therefore means that we are looking to build a solid business structure for our business. In order to achieve this, we have laid down plans and processes that will ensure that we start on the right path as we know how critical this is to our business.
We understand how important choosing the right employees to fill in available positions in our company is and so we will carefully choose those that we know are not only competent but ones that understand our core goals and objectives and will be willing to do all they can to ensure that we achieve our goals and objectives.
Even though this is a business that we can run by ourselves but due to the fact that we will be offering several other services in addition to our core service, the need to hire more employees than the conventional number needed by a freelance makeup team is vital as more roles and responsibilities will require more people.
Below therefore is the business structure that we intend to build at Shimmery Beauty Studio;
Chief Executive Officer
Human Resources & Administrative Manager
Customer Service Executives
5. Job Roles and Responsibilities
- Creates, communicates and ensures the implementation of the vision of the organization
- Provides overall direction for the business
- Carries out periodic evaluation of the organization in order to determine the success
- Sources for competent hands and conducts interviews in order to determine the best hands for available position
- Carries out periodic performance appraisal on employees in order to ensure that their tasks align with the overall objectives of the business
- Ensures that the administrative function of the organization flows smoothly
- Helps to prepare the financial analysis necessary to create a budget for the business
- Ensures that the accounting books are duly reconciled with that of the bank at every interval
- Prepares tax documents on behalf of the business and ensures that they are submited as at when due
- Carries out periodic market survey in order to determine new target markets for the business
- Engages in direct marketing activities on behalf of the business
- Crafts marketing plans and strategies and ensures that they are aligned with the goals and vision of the business
- Professionally trained in order to anticipate the clients’ needs and ensure that their needs are being met
- Updated on the trends in the industry so as to be able to identify trendy requests from clients
- Constantly updates on skills in order to be more artistic than counterparts in similar start-ups
- Attends promptly to inquiries, complaints, bookings and feedbacks on behalf of the organization
- Ensures that the organizations’ database for customers is updated and accurate at all times
- Is updated on company policies in order to be able to give customers accurate information
- Ensures that the entire premises is kept clean at all times
- Ensures that cleaning supplies are never out of stock
- Carries out any other duties as may be determined by the administrative officer
6. SWOT Analysis
Even though there are enough freelance makeup artists in existence plying the craft, the fact that we are taking our business seriously by writing out a business plan means that we want to do all we can to not only make the business a success but to make it stand out as well.
We have therefore decided to engage the services of a business consultant who understands the industry well and the location where we intend to operate in, Miami – Florida, to help us come up with professional simulating scenarios on how we are likely to fare in this business.
The business consultant who has had various experiences intends to use certain attributes such as our strengths, weaknesses, opportunities and threats in determining how likely we are to succeed when faced with several scenarios in the industry as well as in the location we are looking to run our business from.
Below is the SWOT analysis that was conducted on behalf of Shimmery Beauty Studio by the business consultant we hired;
We already have a positive image online especially as we have a YouTube channel where our audiences are given makeup tips and we get to reward loyal audience members in our location with a free makeup regardless of whatever occasion they are going for.
It is this positive image that we will be cultivating offline to help with our business which is why we are building such an excellent business structure where the employees we have hired know and identify with our goals and objectives.
We also have an excellent customer service as most of our customers are those who keep coming back not just for our artistic skills alone but also for how well our customer service works. Just as we do online, we intend to give our loyal customers discounts or a free makeup every now and then.
The fact that we have a bit of popularity online unfortunately does not translate to the same offline and so we have to aggressively promote our business in order to build the awareness we desire and the fact that we are running a tight budget means that this may take a long while before we are able to get the attention of a substantial part of our target market.
The makeup industry is one that offers up a lot of opportunities for innovative entrepreneurs as there are many niches available as well as training and we are looking to take advantage of as many as we can based on our workforce.
Just like any other business, we are faced with threats during the course of starting or running the business and some of these threats are ones that we may have no control over.
The threats that we are likely to face are the arrival of competitors in the same area where we are looking to run our business as well as economic downturn which will see more people preferring to apply their make-ups themselves instead of paying a professional.
7. MARKET ANALYSIS
- Market Trends
Most makeup artists in existence work in the motion picture and television broadcasting industries and only a quarter of these makeup artists are self-employed. Most jobs by these artists are usually short term with only a few going on for longer periods.
Earlier on, most jobs were centered around Hollywood but now this is no longer so. According to the United States Bureau of Labor Statistics, it is expected that the employment of makeup artists will grow slowly than the average occupations all through till the year.
One factor that has caused the decline of the employment of makeup artists is the fact that many movies take advantage of computer generated imagery to create special effects instead of using makeup artists.
8. Our Target Market
Even though it might look like the target market is limited to only females within certain ages, we might be doing our business a great disservice if we do not take the time to conduct a thorough market research that will enable us know our real target market based on the location we are.
Another reason why we are conducting a market research apart from knowing our target market is to ensure that we know what it is our target market wants in order that we might be able to draft the right strategies that will allow us not only penetrate but also get a huge share of the market for our business.
From the result of the market research that was conducted, we have found that we are in business to offer our services to the following group of people;
- Film Production Studios
- Theater Groups
Our Competitive Advantage
There are several reasons why people apply make-up and understanding this fact, we at Shimmery Beauty Studio intend to ensure that we use our artistic skills to provide our clients with whatever makeup needs they might require.
Also, while other similar startups look to ensure that they meet the needs of their clients, we strive to not just meet the needs but to exceed it as well. However in order for us to stand out from our competitors, we intend to have laid down strategies that will enable us achieve our true goals and objectives.
One of the advantages that we have over our competitors is the fact that we are located in an area where there are lots of people who want professional make-up to be done for them regardless of the occasion they might be attending.
The desire to build the best business structure means that we are determined to go all the way in ensuring that we hire the best hands to fill in all available positions in our organization. Due to this fact, we intend to source for and hire competent professionals that identify with our goals and are committed to ensuring that we are able to achieve our goals and objectives.
We intend to create a conducive work environment for our employees where we will allow them hone their creative skills in the hope that they will set industry trends that will project the image of our company.
We will also ensure that the welfare packages for our employees are better than what their counterparts are receiving in similar startups here in Miami – Florida. We will also ensure that our employees receive adequate training as at when due so as to brush up their skills.
Finally because we believe so much in customer excellence, we are determined to do all we can to ensure that our customers receive the best care possible by not only promptly attending to their requests and feedbacks but also ensuring that from time to time we give out discounts or incentives to show how much we appreciate them.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Shimmery Beauty Studio is a business that has been established with the aim generating the profit that will ensure the growth and sustainability of our business here in the United States. However in order to achieve this, we intend to have various sources of income.
Below are some of the different sources of income we intend to create in order to be able to generate revenue for our business;
10. Sales Forecast
Even though there are lots of makeup studios and artists, shimmery beauty studio, we believe will have a huge impact in the industry as there are lots of clients which we will cater for.
We are strategically located in Miami – Florida because there are various sets of people here who require makeup for a variety of purposes. We are therefore confident that we will be able to not only meet our target but to also make profit within a year of starting this business.
For us to be able to come to this conclusion, we have conducted a thorough research regarding the business and the industry and therefore know what chances we have of making it in the industry. We have also engaged the services of a sales consultant who knows about our kind of business and the industry we are in to help us determine what our chances would be.
It should be understood that the data and assumptions used were from similar startups like ours here in Miami – Florida. Therefore below are the sales forecast that was made based on certain assumptions and facts and depending on our location;
- First Fiscal Year: $160,000
- Second Fiscal Year: $300,000
- Third Fiscal Year: $500,000
N.B : It should be noted that our sales forecast is not only dependent on the services which we intend to offer but also on the other products and services that we are looking to offer as well.
The sales projections are also based on the fact that several conditions will not vary during the period such as the downturn of the economy and the arrival of a major competitor. Should there however be any change to the above factors, the sales forecast will either increase or decrease.
- Marketing Strategy and Sales Strategy
The importance of marketing for a business cannot be overemphasized because not only does marketing ensure that a business is able to generate revenue and then make some profit but also that adequate awareness is created for the business as well.
For us to ensure that the revenue objective is achieved, it is important that we come up with an achievable marketing plan that will enable us to not only penetrate the market but also get a certain percentage of the market for ourselves, which will then enable us to be able to compete favorably against our competitors here in Miami – Florida.
Even though we might have laid down marketing plans for our business, crafting effective marketing strategies is something else entirely and for this we must ensure that we conduct a thorough market research that will enable us understand the type of market we are going into, what is expected from us by our target market, who our competitors are and what to expect from them as well.
We understand how inexperience might affect the effectiveness of our marketing strategies and because of this, we are prepared to engage the services of a marketing consultant who has the required experience in this industry to help come with marketing strategies that are effective enough to help us achieve our goals and objectives.
We will also ensure that our marketing team is empowered enough to review our marketing strategies both offline and online and ensure that they remain aligned to our overall goals and objectives. Below are some of the marketing strategies that we intend to adopt in order for us to deliver our services effectively at Shimmery Beauty Studio;
- Use a creative way to announce our freelance makeup business to our intended target market as well as other stakeholders here in Miami – Florida
- Ensure that our freelance makeup business can be found in Yellow pages as well as online directories
- Empower our marketing executives to engage in physically marketing of our business
- Distribute handbills and fliers in various strategic locations – events, fairs, carnivals and concerts
- Make use of social media platforms – Facebook, Twitter and YouTube to promote our makeup business
11. Publicity and Advertising Strategy
Having the right publicity is very vital to the growth and sustainability of a business and knowing this we intend to ensure that we take advantage of any activity that will positively promote the image of our company and ensure that there is increased awareness for our makeup business especially as the industry where we intend to operate from is very competitive and not engaging in publicity activities will mean us not achieving our goals and objectives.
This made us to engage the services of a publicity consultant to help us create the right strategies that will ensure that we are able to get the attention of our target market so as to have an edge in competing against similar start-up such as ours.
Some of the publicity and advertising strategies we therefore intend to use when looking to boost our brand – Shimmery Makeup Studio include;
- Ensure that we create a website and use this to promote our services
- Make use of social media platforms such as Facebook, Twitter and YouTube to promote our services
- Attend beauty conferences and special events in order to network with others and gain prospective clients for our business
- Sponsor and participate in relevant community events that will ensure that we are able to boost our brand
- Pass out business cards, fliers and handbills in strategic locations
12. Our Pricing Strategy
Because we are offering services majorly to our clients, fixing a price will vary from those that are selling products. Also what we will charge our customers will depend on what kind of makeup they are looking to get and because it is easy to undercharge when it comes to services.
We intend to conduct a thorough research that will enable us to know what to rightly charge so that we are able to offer affordable rates to our customers while not also running our business at a loss.
Because we are however a new business and will be looking to increase awareness for our business in order to attract more customers; we will offer promo rates to our customers in our first three months of operation. The decision to offer a discount was one that was thoroughly considered and we have found that this will not in any way affect our bottom line during the period.
- Payment Options
Technology has made running a business more complex as different customers have different means by which they intend to pay for services and so understanding this, we at Shimmery Beauty Studio have come up with different payment options that will be suitable for our various customers.
Below are the different payment options that we intend to offer to all our customers;
- Payment via cash
- Payment via check
- Payment via bank draft
- Payment via credit card
The above payment options were chosen after a deliberate consideration of the paying trends and we have thoroughly gone through each option and as such are confident that there will be no hitches whatsoever for our clients should they wish to go for any of the options.
13. Startup Expenditure (Budget)
Even though the makeup business does not require a whole lot of capital to start up and run successfully, there are still various things – overhead and running costs – that have to be handled for the business to be able to run smoothly till it starts generating its own revenue.
Below are the areas where we intend to use our capital on;
- Fees for registering and incorporating our makeup business – $750
- Obtaining of licenses and permits and software (accounting and CRM) – $1,250
- Insurance coverage (General liability, contents coverage and Workers Compensation) – $2,000
- Marketing expenses for general activities as well as promotional activities to promote grand launching of Shimmery Beauty Studio – $3,000
- Cost of hiring a reputable business consultant – $1,000
- Operational costs for the first 3 months (employee salaries, utility bills) – $50,000
- Purchasing of a variety of make-up and makeup supplies (foundations, lipsticks, eyeshadows, exfoliants, self-tanners and emulsifiers) – $5,000
- Leasing of office facility for a period of one year including renovations – $23,000
- Cost of purchasing furniture, computers, printers, fax machines, phones – $3,000
- Cost of purchasing a vehicle – $20,000
- Cost of launching a website – $1,000
- Cost of throwing an opening party – $5,000
- Miscellaneous – $5,000
From the above breakdown, we would require the sum of $120,000 in order to successfully set up our freelance makeup artist business here in Miami – Florida. It should be noted that the above amount will cover the salaries of those we are looking to employ for at least the first three months of operation.
Generating Funding/Startup Capital for Shimmery Beauty Studio Business
Shimmery Beauty Studio is a business that is owned by Shim Newton and Merry Crabs, two make-up artists who have teamed up to ensure that customers are able to not only meet but have their expectations exceeded. The two owners have no plan to get an external business partner and so have decided to limit the sourcing of their capital to just few sources. Below are some of the areas where we intend to generate our start-up capital from;
- Generate part of the start-up capital from our joint personal savings
- Source for soft loan from close friends
N.B: Because we are a new business that is majorly into freelancing, we do not intend to approach the bank for any loan and will therefore use funds from our personal savings and from close family members and friends. We were able to generate the sum of $70,000 from our personal savings and we got the sum of $50,000 from family members as a soft loan to be repaid in 5 years or as soon as we start running a profit.
14. Sustainability and Expansion Strategy
The aim of establishing a business for most is to be able to generate revenue in order to maximize profit that will ensure the sustainability and expansion of your business. In order to be able to achieve this however, it is important that you have a solid re-investment strategy, excellent business structure and good customer relationship.
Even though a business is established for profit, the profit has to be substantial enough so that a percentage of it can be ploughed back into the business to ensure that it continues to remain in existence. We have therefore decided to offer a variety of services in order to be able to have a substantial profit to reinvest into the business.
Building an excellent business structure is very vital for the growth and sustainability of the business and so we are ready to go the extra mile in ensuring that we hire only competent employees that have the right artistic skills and that identify with our core goals and objectives.
We will ensure that our employees are duly trained in order to be able to meet up with the trends of the industry. Creating a good customer relationship service is very important as this will ensure that we achieve a high retention rate that will ensure that our customers keep coming back to patronize our services.
We know that if we engage in these three measures, we would be able to achieve our sustainability and expansion strategies.
- 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
- Applications 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 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: In Progress
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Startup Costs: Under $2,000 Home Based: Can be operated from home. Part Time: Can be operated part-time. Franchises Available? Yes Online Operation? Yes
If you've got a way with makeup -- you know how to create magic with powders, lipsticks and shadows -- then this could be the business for you. As a makeup artist, you'll help clients look their best for weddings or other special events, give makeovers to people who want to update their everyday looks and more. Some advantages to this business are that you can start part-time and on a shoestring. If you live in an area with a viable film industry, you can also become a makeup artist to the stars (or star-hopefuls) by working on TV or movie projects. Target those planning a wedding by establishing relationships (be sure to leave brochures and business cards) with wedding-oriented businesses like wedding consultants, bridal shops and caterers. Work up referral networks with event and party planners, too, along with public relations agents. Reach out to hair salons as well for potential partnerships.
ASK THE PROS:
How much money can you make?
Nationwide, the average annual salary for a makeup artist is $34,429 , according to Glassdoor, and ZipRecruiter pegs the average hourly pay at $23 .
What kind of experience do you need to have?
“I first created a YouTube account in 2009 just as a regular viewer. I did makeup on the side for fun while I worked as an insurance rep and went to school full-time -- and juggling all of that, along with being a wife and mother, I had to make a choice and ended up letting go of my freelance makeup jobs. When I told my clients and friends, they told me I needed to start making videos so they could practice doing their makeup. That’s how it started -- so I could help -- and I was still able to do what I loved. In 2012 or 2013 I started posting regularly and put more attention into my videos -- for example, if I did a beach look, I’d go to the beach. That’s when my account started to grow.” - Christen Dominique , Dominique Cosmetics
What’s the most important thing to know about this business?
“There are totally amazing artists out there, and everybody should pull inspiration from people they admire. But finding what works for you is what's going to separate you from every other thing that people have seen over and over again. I would rather have 150 unique followers who really appreciate what I do than 100,000 followers who don't interact and don't engage because they've seen it a hundred times.” - Ryan Kelly , makeup artist
Your clients can be just about anybody who wants to look good, although they'll likely be female. You can target brides by establishing relationships (be sure to leave brochures and business cards) with wedding-oriented businesses like bridal consultants, bridal shops and caterers. Work up referral networks with event and party planners, too, along with public relations agents. Nab clients who want a beauty makeover by placing ads in local Yellow Pages and newspapers and leaving brochures at hair salons, trendy boutiques and dress shops. Give workshops for women's groups or experiment with home parties à la Mary Kay--but keep in mind that if you sell your beauty products, you'll need a resale license. If you plan to work with disfigured clients, introduce yourself and leave brochures with plastic surgeons and oncologists.
In some states, you need a cosmetology license to work on clients' skin, so be sure to check with your state board of cosmetology. Other than that, all you need is makeup, brushes and sponges, and your own innate talents.
Makeup Artist Ideas
Hair removal service.
Capitalize on this popular procedure that both women and men take advantage of.
Help others look their best with an alteration business.
Fashion-forward? Help others look their best as a personal shopper.
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Sample Makeup Artist Studio Business Plan Template
Studio and freelance makeup artist business plan sample.
Makeup artists provide highly valuable services to a variety of clients. The human face is the canvas while the artists enhance or accentuate natural beauty. Makeup artists are an essential part of the beauty industry.
Hence, this makeup artist business plan sample will provide helpful tips on how to put together a great plan for your business.
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Here is a sample business plan for starting a studio or freelance makeup 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 learned 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).
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’s 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 the finding of 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 makeup 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
You must 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 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 makeup to achieve the 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 can 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.
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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 can put together a detailed and implementable plan.
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Home » Beauty Care
How to Start a Bridal Makeup Business [Business Plan]
A bridal makeup business is a business usually set up by makeup artists to make up the bride, and her bridal train during wedding ceremonies. The global makeup market is projected to grow from $35.22 billion in 2021 to $50.28 billion in 2028 at a CAGR of 5.2 % in the forecast period, 2021-2028.
A recent report published by IBISWorld shows that the Makeup Artists industry is highly fragmented and distributed proportionally in the United States. The report stated that the Southeast held the most industrial establishments of any region, at 29.7 percent of the total. New England and the Rocky Mountains are expected to hold the least, at 4.4 percent each.
The Southeast region is expected to have 29.7 percent of industry establishments. The report further stated that States like Florida are destination wedding locations. Locations such as Disney World are very popular for weddings, which is why the number of establishments outpaces the proportion of the population located in the region.
Steps on How to Start a Bridal Makeup Business
Conduct market research.
The first step in the market research process for your bridal makeup business is to develop market-based research questions in line with your overall business goal and objective.
In this regard, you should source information that will help you maximize your business, information that will tell you what your potential market will be looking out for from a bridal makeup business and also help you operate your business with less stress and build the business to profitability within the shortest time frame.
a. Who is the Target Market for Bridal Makeup Business?
- Bridal trains
- Wedding planners
- Movie producers.
b. Is Bridal Makeup Business a Profitable Business?
Yes, the bridal makeup business is very profitable. The industry has experienced remarkable growth due to stronger economic conditions.
It is normal that with an increase in disposable income, there will be an encouragement for more couples to marry, and to spend more on wedding planning or services related to their weddings. So also, increased internet usage has made bridal makeup artists more accessible to clients, decreasing the industry’s marketing costs and boosting profit margins.
c. Are There Existing Niches in the Industry?
No, there are no existing niches when it comes to the bridal makeup business because the bridal makeup business is a niche idea in the makeup artists industry.
d. Who are the Major Competitors?
These are some of the leading bridal makeup artists/brands in the United States of America and in the globe;
- Robin Black
- Charlotte Tilbury,
- Mario Dedivanovic
- Pati Dubroff
- Pat McGrath
- Joyce Bonelli
- Mylah Morales
- Tom Pecheux
- Michael Anthony
- Vincent Oquendo
- Mary Phillips
- Val Garland
- Hrush Achemyan
- Ariel Tejada
- Beau Nelson
- Pati Dubroff.
e. Are There County or State Regulations or Zoning Laws for Bridal Makeup Business?
No, there are no county or state regulations and zoning laws for bridal makeup business, but players in this industry are expected to work with the existing regulations governing such business in the county or state where their business is domiciled.
f. Is There a Franchise for Bridal Makeup Business?
Yes, there are franchise opportunities for the bridal makeup business. Here are some of them;
- Waxing The City
- The Lash Lounge
- Beauty Squares
- Seva Beauty
- Face, Brow & Beauty Bar
- Amazing Lash Studio
- Sola Salon Studios
- The Ten Spot® Beauty Bar
- Idolize Brows & Beauty
- Magic Brow®.
g. What Do You Need to Start a Bridal Makeup Business?
- A Feasibility Report
- Business and Marketing Plans
- Business Licenses and Permits
- A Good Studio facility
- EIN (Employer Identification Number)/Federal Tax ID Number.
- A Corporate Bank Account
- Startup Capital
Choose a Memorable Business Name
When looking to start a business, before you can begin to file the necessary documents with the constituted authorities or start your website, it is necessary that you come up with a name that you will be recognized with. It is essential that the name you come up with can easily be pronounced, is unique and easily memorable.
Some of the catchy business name ideas suitable for a bridal makeup business are;
Creative Bridal Makeup Business Name ideas
- Red Rose© Bridal Makeup Studio, Inc.
- Pinky Jane® Bridal Makeup Studio, LLC
- Peach & Purple© Bridal Makeup Studio, Inc.
- Shavonne Boston® Bridal Makeup Studio, Inc.
- Linda USA™ Bridal Makeup Studio, Inc.
- Brenda Benson™ Bridal Makeup Studio, LLC.
- Mary Martins© Bridal Makeup Studio, LLC
- Jonny Moore® Bridal Makeup Studio, Inc.
- Pretty Woman© Bridal Makeup Studio, Inc.
- Martins© Bridal Makeup Studio, Inc.
- Patra & Sarah® Bridal Makeup Artist Studios, LLC
- Beauty Agenda™ Bridal Makeup Artist Studios, LLC
- Prisca Wellington® Bridal Makeup Artist Studio, Inc.
- Wedding Girl™ Bridal Makeup Artist Studio, Inc.
- Shades of Beauty™ Bridal Makeup Artist, Inc.
- Brown Gal™ Bridal Makeup Artist, Inc.
- Lurie Clackson© Face Painting & Makeup Artistry, Inc.
- Angel’s Tone® Bridal Makeup Artist Studio, LLC
- Kate Henshaw™ Mobile Bridal Makeup Artist Studios, Inc.
- Queen Estee © Bridal Makeup Artist, Inc.
Register Your Business
A. what type of business structure is best for bridal makeup business.
Even though there are several options when it comes to the business structure of a bridal makeup business, the one that most players in this line of business consider is an LLC. It is common to consider an LLC because providers want to protect themselves from lawsuits.
Please note that an LLC will need an EIN if it has employees or if it will be required to file any of the excise tax forms listed below.
b. Steps to Form an LLC
- Choose a Name for Your LLC.
- File Articles of Organization.
- Choose a registered agent.
- Decide on member vs. manager management.
- Create an LLC operating agreement.
- Comply with other tax and regulatory requirements.
- File annual reports.
c. What Type of License is Needed to Open a Bridal Makeup Business?
- General Business License
- Health and Safety Permit
- Reseller’s Permit
- Zonal Permits
- Signage Permit
- Operational State Facility Inspections
d. What Type of Certification is Needed to Open a Bridal Makeup Business?
You don’t need any certifications to open a bridal makeup.
e. What Documents are Needed to Open a Bridal Makeup Business?
- Business and liability insurance
- Federal Tax Payer’s ID
- State Permit and Building Approval
- Certificate of Incorporation
- Business License
- Business Plan
- Employment Agreement (offer letters)
- Operating Agreement for LLCs
- Insurance Policy
- Contract Document
- Company Bylaws
- Memorandum of Understanding (MoU)
f. Do You Need a Trademark, Copyright, or Patent?
If you are considering starting a bridal makeup business, usually you may not have any need to file for intellectual property protection or trademark. This is because the nature of the business makes it possible for you to successfully run it without having any cause to challenge anybody in court for illegally making use of your company’s intellectual properties.
Cost Analysis and Budgeting
A. how much does it cost to start a bridal makeup business.
To be truthful, the cost required to open a bridal makeup may vary significantly. But a standard bridal makeup business can cost anywhere from $5,000 to $50,000 or even more depending on the size of your studio and the number of makeup artists under your payroll.
b. What are the Costs Involved in Starting a Bridal Makeup Business?
- The total fee for registering a business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services total – $1,200.
- Marketing promotion expenses (2,000 flyers at $0.04 per copy) for the total amount of $80.
- The cost for hiring a business consultant (writing of business plans inclusive) – $2,500.
- Insurance (general liability, workers’ compensation, and property-casualty) coverage at a total premium – $2,400.
- The cost of accounting software, CRM software, and Payroll Software – $1,500
- The cost for payment of rent for 12 months at $1.76 per square foot in the total amount of – $35,600.
- The cost for studio / facility remodeling – $5,000.
- Other start-up expenses including stationery – $500
- Phone and utility deposits will cost – ($2,500)
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $15,000
- The cost for start-up inventory (your makeup kits and supplies) – $15,000
- Storage hardware (bins, utensil rack, shelves, glasses case) – $3,720
- The cost for store equipment (cash register, security, ventilation, signage) – $3,150
- The cost for purchasing office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound systems, tables and chairs et al) – $8,000.
- The cost of launching an official website – $600
- The cost for our grand opening party – $3,000
- Miscellaneous – $2,500
c. What Factors Determine the Cost of Opening a Bridal Makeup Business?
- The size of the bridal makeup business
- The choice of location
- The required licenses and permits
- The type of studio facility
- The cost for branding, promotion, and marketing of the business
- The cost of furnishing and equipping the bridal makeup studio
- The cost of the insurance policy covers
- The cost of registering the business
- Source of supplies and ongoing expenses
- Cost of recruiting and training your staff
- The cost for the purchase and customizing of uniforms
- The cost for the grand opening of the bridal makeup studio
d. Do You Need to Build a Facility? If YES, How Much Will It Cost?
It is not compulsory to build a new studio facility for your bridal makeup business, but if you have the required finance, it will pay you to build your studio facility. The truth is that building or reconstructing a facility will help you to come up with a facility that perfectly fits your overall business goals and vision.
e. What are the Ongoing Expenses of a Bridal Makeup Business?
- Supplies (inventory expenses)
- Utility bills (internet subscriptions, phone bills, signage, and software renewal fees et al)
- Salaries of employees
f. What is the Average Salary of your Staff?
- Studio Manager (Owner) – $45,000 Per Year
- Makeup Artists – $35,000
- Cashier (Accountant) – $29,630,000 Per Year
g. How Do You Get Funding to Start a Bridal Makeup Business
- Raising money from personal savings and sale of personal stocks and properties
- Raising money from investors and business partners
- Sell shares to interested investors
- Applying for a loan from your bank/banks
- Source for soft loans from your family members and friends.
Write a Business Plan
A. executive summary.
Shavonne Boston® Bridal Makeup Studio, Inc. is a neighborhood bridal makeup studio that will be located in a fast-growing community in Colorado Springs, Colorado. We have been able to secure a two-year lease of a vacant studio facility within the city’s largest shopping mall.
The facility has an option of renewal for 5 years a rate that is favorable to us. Our bridal makeup studio is designed to meet both the health and safety standard as recommended by the local authority.
b. Products and Service
Shavonne Boston® Bridal Makeup Studio, Inc. will offer robust makeup for brides, bridal trains, and family members.
c. Mission Statement
Our mission is to establish a bridal makeup business that will provide signature makeup to our clients – giving them the unique look that they deserve on their special day.
Our vision is to become the leading bridal makeup studio- brand in the bridal makeup industry in Colorado and also to be amongst the top 10 bridal makeup brands in the United States of America.
d. Goals and Objectives
The goals and objectives of a bridal makeup studio are to engage in making up the bride, the chief bride’s maid, and her bridal train during wedding ceremonies.
e. Organizational Structure
- Shop Manager (Owner)
- Makeup Artists
- Cashier (Accountant)
A. swot analysis.
- Ideal location for a bridal makeup business
- Highly experienced and qualified employees (makeup artists) and management
- Access to business partners (wedding planners)
- Excellent customer testimonials.
- A wide range of makeup kits from different companies.
- Financial Constraints
- A new business that will be competing with well-established bridal makeup studios, makeup artists, and freelance bridal makeup artists.
- Inability to retain our highly experienced and qualified employees (makeup artists) longer than we want
- Increase in the number of ladies getting married
- Online market, new services, new technology, and of course the opening of new markets.
- The arrival of a new bridal makeup studio within our market space
- Unfavorable government policy and regulations.
- Steady wage expenses will reduce industry profitability.
- Economic uncertainty
- Liability problems.
b. How Do Bridal Makeups Make Money?
Bridal makeups make money by;
- Providing makeup and other related services
- Sale of makeup kits
- Training and consultations.
c. Payment Options
- Payment via bank transfer
- Payment with cash
- Payment via credit cards
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
- Payment via bank draft
d. Sales & Advertising Strategies
- Introduce your bridal makeup by sending introductory letters alongside your brochure to wedding planners, socialites, celebrities, and other key stakeholders throughout the city where your bridal makeup studio is located.
- Advertise on the internet on blogs and forums, and also on social media like Pinterest, Twitter, Facebook, and LinkedIn to get your message across
- Create a basic website for your business to give your business an online presence
- Directly market your products.
- Join local bridal makeup business associations for industry trends and tips
- Provide discount days for your customers
- Advertise our business in community-based newspapers, local TV and radio stations
- List your business on yellow pages ads (local directories)
- Encourage the use of word-of-mouth marketing (referrals)
A. how much should you charge for your service.
There is no uniform price when it comes to the amount bridal makeup artists charge. On average, a professional bridal makeup artist can cost between $90 and $475, depending on the services you select.
b. How Much Profit Do Bridal Makeup Business Owners Make a Year?
It depends, but the salaries of Wedding Makeup Artists in the US range from $17,620 to $47,410, with a median salary of $23,660. The middle 50% of Wedding Makeup Artists make $23,660, with the top 75% making $47,410.
c. What Factors Determine the Amount of Profit to Be Made?
- The capacity of the bridal makeup business
- The class of the bride
- The location the bridal makeup business is covering
- The management style of the bridal makeup business
- The business approach of the bridal makeup business
- The advertising and marketing strategies adopted by the bridal makeup business.
- The number of years the bridal makeup studio is in business
d. What is the Profit Margin of a Bridal Makeup Business Product/Service?
The profit margin of a bridal makeup business is not fixed. It could range from 35 percent to 65 percent depending on the type of makeup kits used for the services.
e. What is the Sales Forecast?
Below is the sales forecast for a bridal makeup business. It is based on the location of the business and other factors as it relates to such startups in the United States;
- First Fiscal Year: $250,000
- Second Fiscal Year: $360,000
- Third Fiscal Year: $420,00
Set Up your Shop/Office
A. how do you choose a perfect location for bridal makeup business.
- The demography of the location especially as it relates to ladies due for marriage
- The demand for makeup services in the location
- The purchasing power of businesses and residents of the location
- Accessibility of the location
- The number of bridal makeup studios, regular makeup studios, and other freelance makeup artists in the location
- The local laws and regulations in the community/state
- Traffic, parking and security et al
b. What State and City are Best to Open a Bridal Makeup Business?
- Manhattan, New York
- Pittsburgh, Pennsylvania
- Boston, Massachusetts
- Montclair, New Jersey
- Brooklyn, New York
- Chicago, Illinois
- Durham, North Carolina
- Los Angeles, California
- Green Bay, Wisconsin
- Dallas, Texas
c. What Equipment is Needed to Operate a Bridal Makeup Business?
Makeup Artists Kits include the following;
- Stick-on eyelashes
- Cosmetic wedges
- Makeup wipes and tissues
- Skin lotion and moisturizer
- Cotton pads
- Hand sanitizer
- First aid kit, and more.
When it comes to hiring employees for a standard bridal makeup business, you should make plans to hire a competent studio manager (owner), makeup artist, and cashier (accountant).
Launch the Business Proper
In recent times, no bridal makeup business opens its door for business without first organizing an opening party to officially launch the business. You can choose to do a soft opening party if you are operating on a low budget or you can go for a grand opening party.
The bottom line is that with a proper launching of the bridal makeup business, you will be able to officially inform people in your city that your bridal makeup business is open for business.
a. What Makes a Bridal Makeup Business Successful?
- Choose a good location and studio facility to launch the business
- Make sure your studio is well stocked with different types of makeup kits and supplies
- Be deliberate with your marketing sales approach
- Encourage the use of word of mouth to promote your bridal makeup studio
- Leverage all available online and offline platforms to promote your bridal makeup studio
b. What Happens During a Typical Day at a Bridal Makeup Business?
- The studio is open for the day’s work
- Things are properly arranged
- Walk-in customers are attended to
- Makeup artists are attached to brides during their wedding events
- The business is closed for the day.
c. What Skills and Experience Do You Need to Build a Bridal Makeup Business?
- Excellent creativity skills
- Customer services skills
- Interpersonal skill
- Accounting and bookkeeping skills
- Business management skills
- Bargaining skill
- Work experience in a makeup studio environment
- Experience in managing people
- Experience in business administration
- Experience in handling different types of makeup kits, supplies, and related products.
More on Beauty Care
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.
How To Write a Business Plan for Makeup Artist in 9 Steps: Checklist
Resources on makeup artist.
- Financial Model
- Business Plan
- Value Proposition
- One-Page Business Plan
Are you passionate about makeup and dreaming of starting your own business as a makeup artist? Well, you're in luck! The makeup artist industry in the US is booming, with an increasing demand for skilled artists who can provide a range of services tailored to their clients' needs. According to the latest statistics, the industry is projected to grow at a rate of 7.3% annually over the next five years. So, if you've been contemplating how to turn your makeup skills into a successful business venture, then this blog post is just for you!
Before diving into the exciting world of entrepreneurship, it's crucial to outline a solid business plan that will guide your every step. This 9-step checklist will help you write a comprehensive business plan that covers everything from market research and target audience analysis to financial planning and branding strategy. By following these steps, you'll be well on your way to establishing yourself as a successful makeup artist in the thriving beauty industry.
So, let's kickstart this journey by diving into the first step: researching the makeup artist industry. Stay tuned for the next section where we'll explore how to identify your target market and determine their specific needs. By understanding the industry landscape and your potential customers, you'll be able to develop a business that truly caters to their desires. Start preparing yourself to embark on an exciting and rewarding venture as a makeup artist!
- Research the makeup artist industry
- Identify target market and determine customer needs
- Conduct market analysis and competitor research
- Develop a unique value proposition
- Determine startup costs and secure funding
- Create a business structure and register the business
- Identify key partnerships and suppliers
- Develop a marketing and branding strategy
- Prepare a detailed financial plan
Research The Makeup Artist Industry
Before starting a business as a makeup artist, it is crucial to thoroughly research the industry. This research will provide you with valuable insights into current trends, competition, and opportunities available for makeup artists in the market.
One important aspect of researching the industry is understanding the demand for makeup artistry services. Look for data and statistics that show the growth rate of the industry and the potential market size. This information will help you gauge the viability and profitability of your business.
Additionally, research the latest trends and techniques in the makeup industry. Understand the preferences of your target market and stay updated with new products and techniques. Staying ahead of the curve will set you apart from your competition and attract more clients.
Another essential aspect of your research should be identifying the key players and competitors in your area. Study their business models, pricing structures, and marketing strategies to identify what sets them apart and what you can learn from them.
- Research industry trends and growth rate
- Understand client preferences and market demands
- Stay updated with new products and techniques
- Identify key players and competitors
Tips for researching the makeup artist industry:
- Attend beauty industry conferences and trade shows to network and gain insights from industry experts.
- Read industry publications, blogs, and forums to stay informed about the latest trends and developments.
- Reach out to established makeup artists in your area and request an informal meeting to learn from their experiences.
- Follow industry influencers and professionals on social media to stay updated with their insights and recommendations.
Identify Target Market And Determine Customer Needs
Identifying the target market and determining the specific needs of your potential customers is crucial for the success of your makeup artist business. By understanding your target market, you can tailor your services and marketing efforts to meet their expectations and stand out from the competition.
Begin by conducting thorough market research to gain insights into the preferences and trends within the makeup industry. Study demographic factors such as age, gender, location, and income levels to identify the segments of the population that are most likely to be interested in your services.
Identify your ideal customer persona by creating a detailed profile that includes factors such as their age, occupation, lifestyle, and interests. This will help you narrow down your target market and better understand their specific needs and preferences.
Once you have identified your target market, conduct surveys, interviews, or focus groups to gather feedback and insights directly from potential customers. This will allow you to understand their pain points, desires, and expectations when it comes to makeup services.
- Consider offering specialized services targeted towards specific niches, such as bridal makeup or editorial makeup, to attract a focused customer base.
- Stay up to date with current trends in the makeup industry to ensure that your services align with the demands of your target market.
- Build relationships with your customers by offering excellent customer service and personalized experiences to meet their individual needs.
By identifying your target market and determining their specific needs, you can customize your services and marketing strategies to effectively reach and engage your ideal customers. This will ultimately lead to increased customer satisfaction, loyalty, and ultimately, the success of your makeup artist business.
Conduct Market Analysis and Competitor Research
Conducting a comprehensive market analysis and competitor research is crucial for the success of your makeup artist business. It allows you to gain a deeper understanding of the industry landscape, identify your target market, and analyze the competition.
To begin, research the makeup artist industry to gain insights into the current trends, demands, and opportunities. This can involve studying market reports, industry publications, and attending beauty conventions or seminars. Understanding the industry will help you position your services effectively and cater to the evolving needs of your customers.
Next, identify your target market and determine their specific needs and preferences. Consider factors such as age, gender, location, and occasion when defining your target audience. This will help you tailor your services and marketing efforts to attract and retain your ideal customers.
Conduct competitor research to analyze the strengths and weaknesses of other makeup artists in your area. Identify their target market, the services they offer, and their pricing strategies. This will allow you to distinguish yourself from the competition by developing a unique value proposition and offering services that meet the unmet needs in the market.
Market Analysis and Competitor Research Tips:
- Utilize online platforms and social media to research competitors and gather customer feedback.
- Visit local makeup artist studios or salons to observe their operations and customer interactions.
- Attend industry events and network with other professionals to gain insight into the market.
- Take note of the unique selling points and customer experience offered by successful competitors.
- Identify gaps in the market that you can fill with your specialized services or unique approaches.
By conducting thorough market analysis and competitor research, you will be equipped with the knowledge and insights needed to develop a strategic business plan that sets you apart from the competition and caters to the needs of your target market.
Develop A Unique Value Proposition
When starting a makeup artist business, it is crucial to develop a unique value proposition that sets you apart from your competitors. A unique value proposition is a statement that clearly defines the benefits and value that your services provide to your target market.
Here are some key steps to help you develop a unique value proposition for your makeup artist business:
- Identify your target market: Understand who your ideal clients are and what they are looking for in a makeup artist. This will help you tailor your value proposition to their specific needs and preferences.
- Research your competitors: Analyze what other makeup artists in your area are offering and identify any gaps or opportunities that you can capitalize on. This will help you differentiate yourself and highlight your unique strengths.
- Define your unique strengths and skills: Identify the key skills, talents, and experiences that set you apart from other makeup artists. This could be your expertise in a specific makeup technique, your ability to create a certain style, or your exceptional customer service.
- Highlight the benefits of your services: Clearly articulate the benefits that clients will receive by choosing your makeup services. This could include enhanced confidence, personalized attention, long-lasting makeup, or a flawless finish.
- Consider offering specialized services or unique packages that are not commonly found in the market. This could be a signature bridal makeup package or personalized makeup lessons tailored to individual needs.
- Focus on building strong relationships with your clients by providing exceptional customer service and a personalized experience. This will help you create a loyal clientele base that values your unique value proposition.
- Regularly reassess and refine your value proposition based on feedback from clients and market trends. Stay updated with the latest makeup techniques, products, and industry developments to adapt and stay relevant.
By developing a compelling and unique value proposition, you will be able to attract and retain customers, stand out in a competitive market, and position yourself as a go-to makeup artist in your area.
Determine Startup Costs And Secure Funding
One of the crucial steps in starting a makeup artist business is determining the startup costs and securing the necessary funding. It is important to have a clear understanding of the financial requirements to set up and run the business successfully. Here are the key considerations for this step:
- Research and estimate costs: Begin by researching and estimating the costs associated with starting a makeup artist business. This includes the expenses for equipment, supplies, makeup products, insurance, licensing fees, marketing, and any additional overhead costs. Be thorough in your research to ensure you have a realistic estimate of the funds needed.
- Create a comprehensive budget: Once you have determined the startup costs, create a comprehensive budget that outlines all the expenses involved. This will help you prioritize and allocate funds accordingly.
- Explore funding options: Investigate various funding options available to you. This could include personal savings, loans from friends or family, small business loans, grants, or crowdfunding platforms. Research and compare the terms and conditions, interest rates, and repayment options of different funding sources to find the best fit for your business.
- Seek professional advice: It is advisable to consult with a financial advisor or accountant who can guide you in assessing the financial feasibility of your business plan and help you explore funding opportunities.
- Be realistic and conservative when estimating your startup costs to avoid cash flow issues in the initial stages.
- Consider starting with a smaller budget or scaling up gradually to minimize financial risks.
- Prepare a strong business plan and financial projections to present to potential lenders or investors to increase your chances of securing funding.
- Network and build relationships with individuals or organizations in the beauty industry who may be interested in investing in your business.
By determining your startup costs and securing the necessary funding, you will be on your way to establishing a solid financial foundation for your makeup artist business. This step is crucial in ensuring that you have the resources needed to bring your vision to life and effectively serve your target market.
Create a Business Structure and Register the Business
Once you have determined the type of business structure that suits your makeup artist business, it is essential to create and register your business legally. This step helps to establish your business as a separate entity and ensures that you comply with all legal requirements.
1. Choose the right business structure: Consider the various options available, such as sole proprietorship, partnership, Limited Liability Company (LLC), or corporation. Research each option to determine which structure aligns best with your business needs, goals, and personal liability considerations.
2. Register your business name: Choose a unique, memorable, and legally compliant name for your makeup artist business. Check with your local government agency or business registration office to ensure that the name is available and meets all naming requirements. Register your chosen name to secure it for your exclusive use.
3. Obtain necessary permits and licenses: Depending on your location and the nature of your makeup artist services, you may need specific permits or licenses to operate legally. Contact your local government agencies, such as the department of health or business licensing department, to understand the requirements and ensure compliance.
- Consult with an attorney or business advisor to understand the legal implications and benefits of each business structure.
- Consider the potential tax advantages and personal liability protection offered by certain business structures.
- Keep track of the necessary documentation and deadlines to ensure a smooth registration process.
- Research and understand any additional regulations or industry-specific requirements for makeup artists in your area.
4. Obtain an Employer Identification Number (EIN): If you plan to hire employees for your makeup artist business, you will need an EIN from the Internal Revenue Service (IRS). This number is used for tax purposes and to identify your business when conducting financial transactions.
5. Open a business bank account: Establishing a separate bank account for your makeup artist business helps to keep your personal and business finances organized. It also provides a professional image when dealing with clients and vendors.
6. Obtain business insurance: Protect your business and assets by obtaining appropriate insurance coverage. Consider liability insurance, professional indemnity insurance, and any other policies specific to the makeup artist industry.
A well-structured and legally registered business creates a professional and trustworthy image, giving your clients confidence in your services. By following these steps and ensuring compliance with all legal requirements, you can focus on providing exceptional makeup artist services without unnecessary legal complications.
Identify Key Partnerships And Suppliers
When starting a makeup artist business, it is essential to identify key partnerships and suppliers that will help you deliver high-quality services to your clients. These partnerships can provide resources, support, and expertise that can enhance your business operations and enable you to offer a wider range of services.
One important partnership to consider is with makeup brands or suppliers. Collaborating with reputable and high-quality makeup brands can ensure that you have access to a wide variety of products to meet the diverse needs of your clients. This can enhance your credibility and professionalism as a makeup artist and allow you to stay up to date with the latest trends and innovations in the industry. Research different brands and suppliers to find those that align with your business values and offer products that resonate with your target market.
- Reach out to makeup brands or suppliers to inquire about potential partnerships or discounts for professional makeup artists.
- Consider the quality, cost, and variety of products offered by different brands before making a decision.
- Attend industry trade shows or events to network with makeup brands and suppliers.
- Stay updated on the latest makeup trends and innovations by following reputable makeup brands and influencers on social media.
In addition to makeup brands, it is also beneficial to establish partnerships with other beauty professionals. Collaborating with hairstylists, photographers, event planners, and wedding coordinators can expand your business opportunities and offer comprehensive beauty services to clients. By working together with these professionals, you can provide a seamless experience for clients who require both hair and makeup services, making your business a one-stop-shop for their beauty needs.
- Attend local networking events or join professional beauty associations to connect with other beauty professionals.
- Offer mutually beneficial partnerships to other beauty professionals, such as referral discounts or package deals.
- Collaborate with hairstylists and photographers for photo shoots or bridal events to showcase your combined talents.
- Stay in regular contact and maintain good relationships with your key partnerships to foster long-term collaborations.
Remember, the success of your makeup artist business relies not only on your individual skills but also on the strong relationships and partnerships you cultivate in the industry. By identifying key partnerships with makeup brands and other beauty professionals, you can position yourself as a trusted and reliable makeup artist who offers exceptional services to your clients.
Develop a Marketing and Branding Strategy
Once you have identified your target market and developed a unique value proposition, it's time to focus on creating a comprehensive marketing and branding strategy for your makeup artist business. This strategy will help you reach your target audience, build a strong brand identity, and attract clients.
1. Define your brand: Start by defining the core values and personality of your brand. Consider what sets you apart from other makeup artists and how you want to be perceived by your target market.
- Use storytelling to convey your brand's story and mission.
- Consistency is key – ensure your brand identity is reflected in all aspects of your business, from your website to your social media presence.
2. Identify your target audience: Clearly define your target audience based on demographics, psychographics, and behavior. Understand their needs, preferences, and pain points to tailor your marketing efforts accordingly.
- Conduct surveys or interviews with potential clients to gain insights into their preferences and expectations.
- Utilize social media analytics and audience insights to further refine your target audience.
3. Choose effective marketing channels: Determine which marketing channels will be most effective in reaching your target audience. Consider leveraging social media platforms, such as Instagram and YouTube, as well as traditional marketing methods like print advertising or participating in beauty industry events.
- Create engaging and visually appealing content to showcase your work and attract potential clients.
- Collaborate with influencers or bloggers in the beauty industry to expand your reach.
4. Craft a compelling message: Develop a clear and concise message that communicates your unique selling points and resonates with your target audience. Highlight the benefits of your services and what sets you apart from your competitors.
- Use persuasive language and storytelling techniques to capture the attention of your audience.
- Focus on the transformation and confidence your makeup services can provide.
5. Utilize online platforms: Establish a strong online presence by creating a professional website and utilizing social media platforms. Regularly update your website and social media profiles with high-quality content and engage with your audience to build relationships.
- Optimize your website for search engines by using keywords relevant to your services and location.
- Post regularly on social media, including before-and-after photos, tutorials, and client testimonials.
6. Leverage customer reviews and testimonials: Encourage satisfied clients to provide reviews and testimonials to build credibility and trust with potential clients. Display these reviews on your website and social media platforms to showcase the positive experiences of your previous clients.
- Offer incentives, such as discounts or freebies, for clients who leave reviews.
- Respond to both positive and negative reviews in a professional and timely manner.
By following these steps and developing a comprehensive marketing and branding strategy, you will position your makeup artist business for success in a competitive industry. Remember to regularly evaluate and adjust your strategy to align with changing trends and customer preferences.
Prepare A Detailed Financial Plan
Once you have conducted thorough research on the makeup artist industry, identified your target market, and developed a unique value proposition, it is crucial to prepare a detailed financial plan for your business. This plan will serve as a roadmap to help you understand your financial goals, track your progress, and make informed decisions.
To start, outline your startup costs and determine how much funding you will need to launch your makeup artist business. This will include expenses such as purchasing makeup products, equipment, and tools, setting up a professional workspace, marketing and advertising costs, and any necessary licensing or permits. It is important to be realistic and account for both fixed and variable costs.
Once you have determined your startup costs, consider how you will secure funding for your business. This can be through personal savings, loans from family and friends, getting a business loan from a financial institution, or exploring grants or small business programs that are available. Evaluate the options that align best with your financial situation and goals.
Next, it is essential to create a detailed financial forecast for your makeup artist business. This forecast should include projected revenue and expenses over a specific period of time, typically one to three years. Consider factors such as pricing for your services, the number of clients you expect to serve, and any seasonal or industry-specific trends that may impact your business.
A financial plan should also include an assessment of your break-even point , which is the point where your total revenue equals your total expenses. This will help you understand how much business you need to generate to cover your costs and start making a profit. It can also serve as a milestone to track your progress.
Lastly, regularly monitor and review your financial plan to ensure you are on track and adjust as needed. This will involve tracking your actual revenue and expenses, comparing them to your projected numbers, and making adjustments accordingly. It is important to have a clear understanding of your financial performance to make informed business decisions and plan for future growth.
Tips for preparing a detailed financial plan:
- Consult with a financial professional or accountant to ensure accuracy and compliance.
- Consider different scenarios or 'what-if' analysis to understand potential risks and opportunities.
- Include a cash flow statement to track the flow of money in and out of your business.
- Regularly update and revisit your financial plan as your business evolves or market conditions change.
Writing a business plan is a crucial step in starting a successful makeup artist business. By following the nine steps outlined in this checklist, you can ensure that your business is well-prepared and positioned for success. Researching the industry, understanding your target market, and developing a unique value proposition will help you stand out from the competition. By identifying startup costs, securing funding, and establishing key partnerships and suppliers, you can ensure that your business has the necessary resources for growth. Creating a strong marketing and branding strategy and preparing a detailed financial plan will enable you to effectively promote your services and manage your finances. With careful planning and execution, you can build a thriving makeup artist business and achieve your entrepreneurial goals.
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