It is a known fact that a bride’s wedding day is generally considered to be one of the most important days of her life. And, so it should be. If you are considering starting a bespoke wedding makeup company to serve brides and wedding parties, you have an exciting, beautiful and challenging life ahead. Let’s talk about placing the wedding makeup company you’ve been dreaming of starting into real-life action.
Although brides are always stunningly beautiful on their wedding days, the services of a cosmetologist creates a makeup style that is both bespoke and memorable. Maybe this is why over 57% of the 2 billion brides in 2022 opted for the services of a cosmetologist. To start a bespoke wedding makeup company, consider the following steps to success:
Step 1: Assess your target audience
There’s been a marked increase in the number of weddings in the U.S and that signifies an increase in the number of wedding makeup companies, as well. Who will your target audience be? Will you offer services to friends and family members? Are you considering the idea of collaboration with a hairstylist company in order to combine services for your target audience?
Step 2: Analyze your Competition
Your competitors have services and pricing in place; you’ll need to determine each in order to compete effectively. You’ll also want to differentiate your services from those of others. For example, you may want to emphasize the word, “bespoke,” as it indicates one-of-a-kind makeup composition and beauty.
Step 3: Build a Business Plan
Your business plan will serve as your roadmap and guide for startup and growth during the first five years of business. As such, it is crucial to complete the components inside the business plan template pdf to prepare for the start of your company. Inside the business plan, you’ll complete sections for assessing your target audience, analyzing the competition, creating marketing strategies, and preparing a financial plan and forecast. Each area of the plan will conform to the mission and objectives you’ll prepare for the executive summary at the beginning of the plan.
Step 4: Secure Funding
Most startup companies require funding at some level to get the company into a solid financial footing for at least a few years. In order to present your company to lenders or investors, the financial plan and forecast need to be completed, as they will be used for the presentation. Lenders or investors will agree to fund based on the information you collate into the reports; they are crucial for funding requests, as a result. When considering funding offers, analyze the results of the offers as they are presented. For example, lenders may offer a substantial loan; however, they will want that loan returned with interest and repaid on a schedule. An investor, on the other hand, may not require repayment for a loan; however, there will be an expectation that they will acquire up to 15-20% of your company and will have voting rights as a result. These offers should be carefully considered before making any decisions.
Step 5: Set Marketing Goals and Strategies
The marketing of your bespoke wedding makeup company begins with the results of your makeup artistry viewed on the faces of your bridal friends or family members. Your efforts will need to be viewed in order for potential clients to grasp the extent of your capabilities. Start with a portfolio of images capturing the best bridal looks and makeup artistry shots. Include bridesmaids and other attendants in images and carry trend-forward looks in each to identify and fully develop the capabilities of your bespoke wedding makeup company.
As mentioned, you may want to approach a popular hairstylist to suggest collaborating on marketing your companies together at a package price. Brides like to carry a cohesive plan into the bridal preparation suite, so this collaborative concept is very often well-received. This creates a winning marketing promotion for your company, as the bride, bridesmaids, and other attendants will remember how well you created their special wedding looks and they will contact you for the same services on their wedding day. Consider handing out small appreciation gifts to those you serve and tuck your business card and website address into each as a reminder.
Step 6: Complete Your Mission and Objectives
As the last step, complete your mission and the objectives you have formulated for your bespoke wedding makeup company. This unique service you and your staff provide will be cherished as the special wedding looks continue for many years in photo albums and cherished memories. Your business plan will be a reminder, as well, of the effort you put into creating a business plan that provided long-term growth and profitability.