Design a game plan. It can be as fancy as a formal B-School proposal or a couple of pages of goals, objectives, ideas and personal philosophies about the psychology of makeup art. The game plan should prove you "get" the boost a woman enjoys when she's handed the right mascara wand. Don't forget a name; choose a name your target shopper can't ignore.
Size up the competition. Leave no makeup counter unvisited. From Macy's and Ulta3 to Target, assess who's selling what and at what price points. Don't delude yourself. Heavy competition means you'll have to come up with a way to lure women to your business by offering something customers can't get elsewhere. Convenience. Pricing. Variety. Ambiance. Consider your reasons for picking specific stores. Your target shopper will use the same logic.
Drum up funding. List items needed to launch your makeup business. Commit all of your figures to a spreadsheet. Include start up stock, furnishings, fixtures and business equipment. Save money by purchasing gently used shop displays and fixtures. Inflate your final number by at least 10 percent, before you approach banks or investors for a loan.
Open accounts with cosmetics and health suppliers. This tedious undertaking is a great way to fill time while you await word on your funding. Select companies with whom you already have business relationships, popular brands and emerging cosmetics companies, particularly if they are trendy, popular and hip. Open accounts with each by contacting the nearest local representative.
Rent a store and obtain permits and licenses to operate. Arrange for insurance coverage to protect your inventory. Install a networked computer system that rings up sales and then stores, calculates and produces totals, so your accounting tasks are streamlined. Invite the local police over to check your security system. Meet the neighbors, particularly those who would make great promotional partners.
Come up with clever marketing strategies. Splurge on a grand opening party. Offer specials and incentives on popular makeup products. Sponsor a beauty contest; ask customers to submit photos wearing makeup purchased at your shop. Hold in-store balloting. Girls who really want that crown are bound to send over an army of peeps to cast ballots. Your job is to sell them something before they leave!