Focus on a niche area of the beauty industry such as make-up.
An entrepreneur with a passion for fashion and style may consider starting a business in the beauty industry. Focus on a niche within this large industry for your business. For example, if you are a skilled make-up artist, you would select a beauty business that provides make-up services either for individuals or for the fashion industry. A niche such as this will allow you to compete within the larger beauty market as a whole. Starting a beauty business will require research, planning, and hard work.
Instructions
1. Research the beauty market in relation to the niche market that you have selected for your business. Focus on the niche market and determine what makes the existing competition successful. Research the qualifications or certifications that you will need to provide services in this niche. For example, if you were pursuing a business as a make-up artist, you would need to research what qualifications or certifications you would need to be accepted within the market as a professional. Research potential locations for your office and advertising options.
2. Write a detailed business plan based on your research and analysis. Define your business goals in a mission statement. Include an analysis of the market and competition. Detail a marketing plan. An example of a marketing strategy would be to use a select brand of make-up, perhaps one that is environmentally friendly or chemical free. Detail financial projections for the first year of your business. Attach any documents necessary to form your business at the end of the business plan. The plan should detail your first year in business.
3. Fill out and file a business and tax registration form as well as any other documents that are necessary to establish your business as a legal entity. A beauty business may be subject to regulation such as permits or licenses at the local and state levels. Check with your local and state authorities to be sure that you are in compliance.
4. Meet with an insurance agent to discuss your options for insurance. A beauty business should have liability insurance to protect against claims of injury or harm to clients while on your property. Property insurance will also be needed to protect you against damage to your property or theft. Describe your business in detail so that a comprehensive package can be put together.
5. Acquire any qualifications or licensing that you will need to provide your choice of beauty services. Take classes or workshops to gain the necessary skills and certification for your particular beauty service.
6. Purchase your equipment and either lease or purchase a space to provide your beauty services. A make-up artist will need a small studio, a large selection of make-up, seating, and make-up brushes and other applicators. Set up an area in the studio space to sell the products that you use on your clients so that they can maintain their look on a daily basis.
7. Advertise your business in local newspapers and magazines. Join your local Chamber of Commerce to take advantage of their collective advertising efforts. Attend trade shows and events such as bridal shows to promote your services.
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