BEAUTY PAGEANT BUSINESS PLAN SAMPLE TEMPLATE
Do you have passion for superficial beauty and display? If yes, you should start up a beauty pageant business. Society now demands highly of all forms of entertainment, a beauty pageant would be a very interesting and profitable business as it is a means to attract young girls who are passionate about modeling.
In starting a beauty pageant system, candidates contest for a crown or first place and they are judged according to physical attributes, charismatic traits, skills and brainpower. A pageant business is a flexible business as you would decide the rules and the theme of the pageant.
What are your reasons for organizing a beauty pageant business?
People start up beauty pageants for various reasons, it might be a source of entertainment, a means to help youths build up their social lives and dreams and it is also a source of revenue.
In this article, I want to share with you what you need to know to start a beauty pageant business.
- A Beauty Pageant Business Plan
A very important part of starting up a beauty pageant business is drawing a business plan. The key to every successful business is proper planning.
Bullet out your weaknesses, strength and opportunities.
Starting up a small beauty pageant business would require less financing compared to a much larger pageant, it is very important that you draw out a budget proposal to mark your limit.
If you’ve limited source of capital, I will advise you seek assistance.
Registering your beauty pageant business and opening a corporate or business account would make it easier to gather sponsors and partners as they would financially assist in running the business.
With proper publicity, you could get sponsorship from various companies who would provide important services in your business.
You can get sponsorship from a drink company who would in turn supply drinks for free during the events. Getting sponsorship from a cosmetic company would relieve you of the burden of searching for makeup services.
You could also get sponsorship from individuals and groups that would provide prizes and awards and support in other areas necessary.
Another thing is, your business plan should contain a plan for profit making to serve as a guide when setting up your beauty pageant business, you must remain within your financial limit, cash coming into the business should not exceed cash going out.
You’ll need a well thought-out brand name as it would serve as your public identity.
Once you have figured out a suitable name, you should run a search on your choice to be certain that it hasn’t been chosen by another company.
Your local regional business administration authority or the Secretary of States office of your state would provide information on steps to take to fully register your business.
After this is done, decide a beauty business name for your pageant. It should be unique and should portray the theme of the pageant.
Publicity is a crucial factor in starting up a beauty pageant business and becoming successful. Decide a unique name for your pageant, register your business, set up your team, put out banners, flyers and employ other means to create awareness of your business.
After deciding a brand name, ensure you conduct sufficient searches to ensure your brand name is unique. Your pageant cannot use existing names such as ‘Miss America’ as it already exists. Consult the Secretary of State in your area for other legal enquiries.
A beauty pageant requires a stage, a hotel would be a suitable work site as a hotel has readily available rooms for the contestants and guests, restaurants car packs and other luxuries.
- Plan your event;
- Decide a favorable year, month, date and time of the day.
- Check factors such as the weather for the date you’ve ruled out. Make sure you have nothing planned out for the ruled out date.
- Sell tickets.
- Set up your runway. Set up a stage with proper lighting, stereo and a sufficient back stage.
- Set up a panel of judges, get 3-4 people who know about pageants and fashion.
- Set aside a dressing room.
- Get a tiara, a sash and a trophy.
- Contestants should walk on the walkway as the judges decide the points to award them based on listed out criteria.
Advertising your beauty pageant business will help to create awareness to the general public, mostly people that will be either interested or know someone who is. Social media, your local newspaper and posters are good tool for publicity. Make good use of them very well to your business advantage as it would be the most favorable means of public cognizance.
It will be very necessary for you to set up a website which would contain information on your pageant business as well as forms to fill out. This is good branding.
Here is a sample business plan for starting a beauty pageant business.
BEAUTY PAGEANT BUSINESS PLAN EXAMPLE
Beauty pageants play a major role in the world of entertainment. It is a subset of the fashion industry that has gained recognition across the world. A lot of entrepreneurs have also built successful pageantry businesses as well. We are interested in helping you achieve this success too! Our beauty pageant business plan sample has been written with you in mind.
By giving the reader a sample to work with, the difficulty experienced by most new entrepreneurs is easily overcome. We advice all our readers to do a feasibility study before writing their plans. Armed with this knowledge, you will find the tips provided in this sample highly useful. Let’s jump right into the contents of our sample plan!
Glamour™ is a beauty pageant business to be located in Columbus, Ohio. We are a business driven by excellence and backed by the experience of a competent team of experts. This is led by the proprietor of the business Janice Williams. Having over 3 decades working experience in the beauty pageant industry, her expertise will enable Glamour™ compete favorably in an industry driven by intense competition.
We intend to expand our pageantry services to include cosmetic manufacturing and sales. As a new business, we are not limiting our business activities to the state of Ohio alone. Our drive is to become a reputable national brand. This will involve a lot of work and we are equal to the task. Within a decade, we plan on having a visible presence in all states.
- Our Products and Services
Most beauty pageant businesses are service oriented. We will be providing pageantry services in addition to the production of high quality cosmetics. These aspects of our business will be merged in a way that each promotes the other. Our experience in these two areas makes achieving our objectives very possible. In addition to these, we will be providing pageantry related training and consultancy services.
- Our Vision
At Glamour™, we are driven by a determination to establish a reputable brand name. This will not be achieved overnight. With our wealth of experience in this sector, we are well equipped to offer services that are second to none. Within 10 years from the commencement of business activities, we plan on breaking into the top 10 beauty pageant brands in America.
- Our Mission
To be relevant in an industry that thrives on satisfying both viewers and contestants, we have chosen an ideal location in Columbus, Ohio. This will be replicated for all our outlets both within the state and across the United States. This will be backed by an intense and robust marketing campaign that will make our target market buy into our idea.
Adequate financing is very vital to the success of any beauty pageant business. We are making sure that financing does not act as an obstacle to the smooth take off of our business. In view of this, we are selling 30% of our shares to investors. This will be sold to raise the sum of $1,500,000.00. These shares will have a validity period of 10 years.
After this period, renewal will depend on how successful we have become.
- SWOT Analysis
To be successful in any business endeavor, an internal assessment of our capacity is necessary. We have done a SWOT analysis that has helped us rediscover important aspects that are required for enhancing our service delivery.
These include the following;
At Glamour™ we have a strong team of professionals at management level. In addition to this, we have carefully selected our workforce from a pool of well experienced personnel. This significantly increases the chances of our success. We consider each member as a team player. As a result, no opinion is considered unimportant. This has forged a strong bond and value driven dedication.
We have not turned a blind eye to our weakness. In order to find a suitable solution to it, we identify our weakness to be our size and our status as a new business. We will be competing against formidable national pageantry brands in Columbus, Ohio and across the country.
In addition to staging or organizing beauty pageant contests, we are also taking advantage of several other opportunities such as opening a cosmetic line, the provision of consultancy services and training. There are many other areas we will be exploiting with the view of enhancing our capacity to deliver highly satisfactory services to our clients.
Threats come in different forms for many businesses. In the beauty pageant industry, the likely threats we are faced with includes an economic recession as well as strong competitors who set up shop within close proximity to our business.
- Sales Projection
Growth in sales will be directly influenced by the quality of our services as well as the effort we put in through our marketing activities. In measuring our sales potential within a 3-year period, we have arrived at the following figures which are achievable and show a great promise;
- First Financial Year $380,000.00
- Second Financial Year $650,000.00
- Third Financial Year $1,200,000.00
- Marketing Strategies
Marketing is an important part of our growth. We are committed to building a reputable brand that will compete with major pageantry businesses. In achieving this, we will be adopting several marketing strategies that will include social media marketing, paid radio and TV adverts, fliers and hand bills, and word of mouth marketing. We will also hold periodic road shows to enhance our brand image.
- Competitive Advantage
Although we are a small business, our highly skilled and experienced team is well positioned to offer top-of-the-range solutions. By bringing their wealth of experience to bear on the job, we have a better chance of excelling in the beauty pageant industry.
Our location also counts favorably in promoting our business. The same will be applied to all new outlets. We will choose only those locations that increase the visibility and patronage of our business.
- Target Market
Ladies are the dominant gender in the beauty pageant industry. We will not restrict our services to ladies alone as we will also include men and teens too. Our cosmetic products will be sold through effective and reliable distribution channels.
We are certain that you will find this beauty pageant business plan sample very useful. In trying to write a comprehensive plan, all you need to do is ensure you are armed with the right knowledge.
By following the above sections, you have a template to work with in ensuring you are successful in setting an effective plan in place.