business plan . iridescence
TRANSCRIPT
Table Of Contents:
Executive Summary 2
General Company Info 2
Marketing Plan 3
SWOT 4
Competitive Advantage 5
Operational Plan 6-7
Financial Plan & Startup 8-10
Work Citied 11
1
Executive Summary
Iridescence is a makeup boutique that uses organic minerals for each client. It is a small
brick and mortar company located in Atlanta, Ga. Products will be bought from a
previously existing manufacturer until we can later manufacture our own. Professional
work will be displayed on the face of all customers, which will encourage return and
future business from those that witness the work of iridescence. Iridescence will provide
the beauty of makeup while using organic minerals. We will also provide the makeup to
purchase for personal use outside of the company. The products will be reasonably
priced for middle class working women. There will be more then enough displays on
social media.
General Company Info
Grand opening of Iridescence will be May 2017, the first location will be in Atlanta, Ga.
Iridescence is a small LLC Make-‐up boutique that only uses organic products. The goal is
to make women look just as beautiful on the outside as they are on the inside.
Iridescence is defined as “a play of lustrous, changing colors.” There are lots of women
that like to wear make up but do not know how to apply make up properly and take
care of their skin properly when while wearing make up.
2
Marketing Plan
I would like to open the first Store in Midtown Atlanta
The target market is women between the ages of 16-‐45. In Atlanta alone there are
420,279 people which makes up about 50.2% of that population is females as of 2010.
There are over 80,000 women between the ages 18-‐65 in 2010 living in Atlanta
(cencus.gov.) There will be a website that provides general information, booking
appointments, and or just contact us for other inquiries. The online purchasing will be
available in 3 years. The website will be created using Dreamweaver and Brackets. The
domain along with other website additives will be purchased from GoDaddy.com. The
target market age range is quite broad so there are different approaches to advertising.
3
SWOT
4
Competitive Advantage
These are all of my major competitors in this industry in Atlanta (hoovers.com):
• Ulta – Ulta provides multiple brands and products at a more reasonable price for
their consumers.
• Own Company
• 3.24 billion (annual)
• Sephora – provides multiple brands has makeup artist for make up tips
• Under LVMH
• Import and export goods
• 636.7 million (annual)
• M. A. C. Cosmetic Inc. – Luxury brand that sells their own brand only. Has on
floor make up artist for makeup tips and to get full face makeup.
• Under Estee Lauder
• Imports good
• $4.7 million yearly (annual)
The fact that I have some of the great qualities that the other companies have but in a
different perspective give me an advantage over them. M.A.C. provides professionalism,
experience, quality and their own personal brand. Iridescence is based on the same
concept except we provide more natural ingredients and knowledge of cleanliness.
Therefore M.A.C. would definitely be my biggest competitor.
5
Operational Plan
Business Hours:
9 am -‐7pm Monday – Saturday
11am -‐6pm Sunday
Closed on for some nationally recognized Holidays
• 4th of July
• Christmas
• Thanksgiving
There will be in addition to the Owner/Makeup artist. 4 other makeup artists with great
salesmanship skills.
All products used and sold will initially come from a brand that has already been
established and later create my own line of cosmetics that will only be found at our
store front or on our website. The items will be sold at a 70%-‐110% markup based on
the item. There will be a weekly inventory check on supplies as well as weekly
replenishments on necessary items. Anywhere in the US will take about 5-‐10 business
days, Expedited Shipping 3-‐5 days. Out of the country 10-‐ 25 days, expedited shipping 7-‐
15 days.
Each Employee must be professional, dressed in appropriate attire, knowledgeable,
reliable. Commission is worth 3% of the total weekly sales. All Makeup artist will have a
quota of $450 of sales to make a day. Owner / Manager / Make up Artist (1) the person
that not only owns everything, but also over look and sign off on anything that goes on
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in the establishment. Making salary ideally making about 65 thousand a year on an
hourly rate
Make-‐up Artist (4) is to apply make-‐up the compliment the client’s style. Hourly rate: $17/hr. and commission. Ideally making about 40 thousand a year.
Accountant (1) Oddo Brothers CPA will handle the company’s finances. Hourly rate $150
for 3/hr.(oddocpas.com) visits twice a month.
Services
Full face
Brows
Eyes
Foundation
Products Vary based on the manufacture price the mark up value will be %60-‐70%.
These items will be provided:
Eye shadow
Eye/lip liners
Mascara
Concealer
Foundation
Power
Blush
Bronzer
Lipsticks/gloss
7
Financial Plan & Startup
Iridescence will be located in Fulton County, 486 Decatur Street, Atlanta, GA 30312.
• 1,515 sq. / ft.
• $17.50 per sq. /ft. / yr.
• 36 month lease
• Near Marta Station and I-‐85
• Near Beltline
Atlanta is the perfect location. It is easily accessible for those that ride public
transportation. A nearby parking garage is a great additive since it is difficult to find
parking in that area. Total $2,209.38 a month
LLC (legalzoom.com) $149
Business Loan form Wells Fargo – SBA 7(a) Term Loan (wellsfargo.com) – $100,000
interest rate of 6 % the loan will be paid off in 15 years by April 2032 with a monthly
payment of $844. (www.amortization-‐calc.com)
Wells Fargo Platinum Business Checking (wellsfargo.com) -‐ $40 a month
Business Loan
Unlimited Phone and Wireless AT&T -‐ 94.95 a month
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GoDaddy -‐ Purchase of Domain Name (5yr), Privacy and business Protection (5yr),
Search Engine Visibility (1yr), Office 365 Premium Business (1yr). – $237.00
(godaddy.com)
Ads -‐
• Facebook-‐ 365 for a full year (1$ a day). (facebook.com)
• Ebony magazine – $649 per ad (ebony.com)
• Modern Luxury Brides Atlanta magazine – 2x rate $1,875 (modern Luxury media
kit)
All Makeup artists will have to have at least three clients a day of sales to make a day.
May and June is projected to be the peak season with proms, high school graduations,
and the beginning of wedding season.
Inventory -‐
Brushes (5)-‐ 2,360
Eye Palettes (5)-‐ 3,000
Contour Kit (5) – 200
Bronzer – 500
Primer (5) – 90
Liners – 500
Blenders – 500
Mascara (7) -‐ 140
Brush cleanser (7) – 252
Mascara brushes (10)-‐ 70
Waterproof Cleansing (10) –240
Facial Pads (10) – 80
Mirrors (5)-‐ 400
Stool (5) – 1,500
Light fixtures (5) – 761.4
Sofa – 1,100
Paint (4) – 95.72
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Work Citied
United States Census Bureau. (n.d.). Retrieved May 27, 2015, from http://quickfacts.census.gov/qfd/states/13/1304000.html Facebook. (n.d.). Retrieved May 27, 2015, from https://www.facebook.com/help/318171828273417/ Advertise in Ebony Magazine. (n.d.). Retrieved May 27, 2015, from http://www.nationwideadvertising.com/adinebma.html Pricing. (n.d.). Retrieved May 27, 2015, from http://www.oddocpas.com/pricing.html SBA 7(a) Term Loan. (n.d.). Retrieved May 27, 2015, from https://www.wellsfargo.com/biz/loans_lines/sba/7a_term_loan/ Get Product Information. (n.d.). Retrieved May 27, 2015, from https://www.wellsfargo.com/biz/checking/comparison-chart/ Amortization Schedule Calculator. (n.d.). Retrieved May 27, 2015, from http://www.amortization-calc.com/ GoDaddy.com : Shopping Cart. (n.d.). Retrieved May 27, 2015, from https://cart.godaddy.com/basket.aspx?dpp2=1&ci=17463&isc=gofdh020 Business Liability Insurance. (n.d.). Retrieved May 27, 2015, from http://www.farmers.com/business/liability/ Start Your Business with Confidence - LegalZoom.com. (n.d.). Retrieved May 27, 2015, from http://www.legalzoom.com/sem/business/business-compare.html?kid=48da0b07-9f5a-4aef-8966-7a488835cd22&cvokid=48da0b07-9f5a-4aef-8966-7a488835cd22&keyword=registering a business in georgia&matchtype=broad&cvosrc=ppc.google.registering a business
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