When you are in business for yourself you need to make sure you have a plan. A business plan provides direction and keeps you on track when things get crazy. Your plan can be used to help you focus on your top priorities, clarify who your customers are and how you can serve them effectively.
The value of writing a business plan isn’t always the final document that you produce. It’s really the thinking that is required to write the plan that’s the most important bit. By creating your own business plan, you are going to have to think about the specifics of your makeup business and how you plan to build it up.
That’s where the real value is for you!
This article will take you through the steps of creating your one page plan, from start to finish. Already know how to do this, then click here to get access to the free template.
The 9 Things Your Plan Needs to Cover
To have a successful business of any size and style you need to be creating value for your customers. When developing your business plan keep this at the top of your mind. Focus on what you can do for your customers and how to reach them, rather than the other way around!
Your plan should clearly cover the following areas:
- What activities are you going to be undertaking and what services are you going to provide?
- Where are you going to provide them?
- Who are your customers?
- What type of relationship do you expect to have with your customers?
- How are you going to find your customers?
- Why are your customers going to choose you?
- What are the main things you need to meet your customers’ needs?
- What are your costs?
- How are you going to make money?
Don’t Write a Novel.
If your business plan has pages and pages of text then it is way too big! How likely is it that you are going be to keeping it up to date? How about a one-page plan? How much easier does that sound?
So here’s the Makeup Freedom guide to writing your business plan.
The One Page Makeup Artist Business Plan
This one-page business plan has been adapted from a template called The Business Model Canvas, which was originally published in the book Business Model Generation by Alexander Osterwalder, Yves Pigneur (and many others). It has been released under Creative Commons license, which means anyone can use it and change it to suit their needs!
So here is a version that’s been adapted for your makeup artist business!
The boxes on the left with the green titles are for you to document what you do, where you do it and how much it costs, etc.
On the right-hand side the blue titled boxes cover your customers, who they are, how you will market to them, etc.
In the middle we have the ‘competitive advantage’ box which is meant to document what is unique about the way you service your customers.
How to fill it out.
Here are some hints on how to fill out each section. Note that each of the sections relate to the 9 key things a plan needs to cover above (What a coincidence!)
- Firstly download the template!
- Next for each section read the guide below and come up with your answers and information.
- Now remove the hint from the template and put in your own details.
|Services And Activities||You need to list the services that you will be providing to your customers. Don’t just say makeup. List the different types of makeup services you offer.
Do you do hair? Lashes? Do you sell products? Are you giving lessons or other one-on-one services? Special Effects? Add these to the list.
Also list here other activities that you do that may not be directly paid, such as TFP or Agency or Editorial work.
|Location||Where are you operating from? Are you based in a studio or are you mobile? Do you do a mix of both?
If you are mobile, do you have a specific region you operate in?
Make sure include any operating hours for each location.
|Resources||What do you need to be able to provide your services?
The obvious one here is your kit. Do you use specific gear and use specific suppliers? List them here.
The other main resource that is required is your time and skill. If you were to hire someone to do the work for you, what are the key skills they would need? List them here.
And, of course, money is the other key resource.
|Competitive Advantage||Do you have a service that no one else provides? Or is there something unique about the way you operate?
Do you have or do you know something that gives you an advantage over your competitors? Have you won awards or been featured somewhere? This can be your competitive advantage!
To help you come up with this it might help if you list out who your main competitors are and what their competitive advantage is so that you can figure out yours! If you don’t have one then keep thinking! If you don’t have one then there is no reason for a customer to choose you over your competition.
|Your Customers||Picture your perfect customer. Who are they? Describe them here.
Be as specific as you can. What age group are they? Are they professionals, stay at home mums or maybe students? Perhaps they are makeup lovers or people who usually don’t wear makeup? Is your perfect customer a bride to be?
(The more detailed you are the easier it will be to create your marketing material to target them)
|Customer Relationships||What is the nature of the relationship that your customers expect to establish with you? Are you expecting to have a one-off relationship (e.g. bridal) or are you expecting to have a recurring relationship with them (e.g. lash extensions)?
What relationships have you already established with your customers?
|Marketing||How do you reach your customers? Do you know where your ideal customers hang out online in groups or forums, etc? List them here.
How do your customers reach you? Which social media platform are they most likely to use?
Which channels are working best for you? Are your customers more likely to contact you via your website or phone or via social media?
|Costs||Create a few lists.
|Income||How do you make money?
List each of your services. Against each one write down:
You should also divide your fixed costs by the total number of services you expect to provide to determine your overhead cost per service. Make sure the amount you are charging is larger than this otherwise you are losing money!
Now that you have finished your plan don’t just keep it on your computer to get out of date. You need to view it and review it regularly. Print out a copy and stick it on the wall! At least every 6 months take it down and make sure nothing has changed – if it has, then update the plan and print out the new one for your wall!
So what are you waiting for? Download the free template in word or ODT (LibreOffice, OpenOffice) format by entering your email address below and start putting your plan together today!
Did you find this article useful. Sign up to our mailing list today to be the first to know about our next article to help you in your makeup business.