A face painter business plan should not be complicated. It's best when starting out to get basic questions answered to formulate a plan of action.
Business plans should help guide your efforts in a profitable direction. The old adage of "if you fail to plan then you plan to fail" has truth to it. Starting a business is a big endeavor and some upfront, thoughtful planning will go a long ways towards your success.
1. What is your company name?
Coming up with a catchy, fun, company name is a little challenging. It needs to convey what you're business is about, be easy to pronounce and memorable.
While you may do face painting now, keep in mind you may want to add additional services. Perhaps you will learn balloon twisting, magic shows, balloon decor and offer other kids activities.Give your business name careful consideration so that it isn't too narrow and will allow you to add services when you're ready. Once you do decide on your business name, ask friends and family what they think of it. Once your family and friends give you feedback, check whether the name you want is available as a domain name and on different social media platforms.
Taglines, while not critical to your business, help to assist your target market to understand what you can do for them. Disney's The Happiest Place on Earth is a great example of a tagline.
Now you may not be able
to get your tagline down to a few compelling words, but you can create one and
modified it later. As time goes by, adjust your tagline to better
fit your market. For now, though, don't spend a ton of time figuring this out for your face painter business plan. Block off a couple of hours and move on...
3. What services do you provide?
Face painting is likely your primary service if you're putting together a face painter business plan. However, you may offer glitter tattoos, Henna, air brush art, balloon twisting, magic shows, classes on painting and more. Give some thought to all the services you can provide in addition to face painting.
4. Who is your target audience or what does your ideal client
look like?You target audience may be busy parents, especially moms, looking for birthday party entertainment. Understand who books your services so all of your marketing is directed toward them. While you may get others outside your target market booking you, you must remain focused on your target. This way your marketing message remains clear and you increase conversions - from interested parents to parents booking your services. Avoid the trap of trying to serve everyone.
5. What is your Unique Selling Proposition "USP"?
Important to your face painter business plan is your unique selling proposition. It's what differentiates you from your competition. Maybe your competition offers full face painting? How can you be different from them? Research your competition to see what they're doing and figure out how you can do it better.
6. How much do you charge?
This is a tough question for everyone. It's not easy putting a price tag on your skill set. Of course, too, you must consider incidental expenses including travel, gas, tolls, time, training, supplies, equipment, insurance, advertising, etc. Determine your expenses, how fast you are, how good your face painting is and then figure out what to charge to be profitable.
7. What is your monthly revenue goal?
With a face painter business plan you need to know what you want to earn each month. While you may want thousands of dollars you ideally have a number in mind to work toward. Actually identify you want to earn a $1,000, $5,000 or $10,000 each month so you can focus your efforts. No revenue goal means no target to hit. It is difficult to obtain funding from financial institutions without providing numbers pertinent to your business.
8. How many new or repeat clients do you need to achieve this goal?
Know whether or not you will have repeat customers to determine if you're meeting your monthly revenue goals. An example of a repeat customer would be a weekly or monthly restaurant gig. This means you are face painting kids each week or on an agreed upon schedule with the restaurant. This type of gig ensures ongoing revenue for you and your business.
Do your best to keep repeat customers happy with your services. And, naturally, if you need new
customers each month, plan to spend a little money on Facebook or Yelp marketing campaigns.
9. How do you get new clients?
Your face painter business plan should provide information on how you'll get new clients. You will want to provide a way that you'll continue to get revenue. This is important for you and any business partners or lenders you approach.
Will you join local business groups such as a Chamber of Commerce in your area?
Will you become a speaker on business to establish your authority and gain customers this way?
Will you advertise in the local newspaper?
Really sit down and
consider how you will get new clients. Keep adding to this section
because you always want a steady stream of business coming your way.
10. How will you fulfill your services? Who makes up your production team?
This two part question helps you think about your logistics. If you offer face painting for community events you will go solo or bring on another painter? If have an agreement with a restaurant and you cannot make the slotted time due to illness, is there someone else who could sit in for you? You want to be clear for yourself and your face painter business plan as to how you will and will not deliver your services.
11. Who are the other key players of your team? List their names and titles.
If you are doing a face painter business with your spouse, for example, or a sibling or friend, commit to writing the names and titles of everyone on your team. All players should know their roles and responsibilities. This can help you avoid misunderstandings as you grow and expand your operations.
12. How do you measure success (number of clients, monthly
Understand for yourself what success looks like for you. It could me you have 15 clients a month. Or maybe less clients but you earn more and can enjoy vacations and time with your family.
When you do consider putting together a face painter business plan know that it doesn't need to be complicated. It does however, need to provide you an actionable plan so you can move your business from idea to execution. The business plan is also a living document. It will grow and change with you as your business grows and expands.