On reflection of my FMP proposal idea I realised it wasn't right, although I believe i put in a lot of effort to my proposal it wasn't reflected in the final mark i received and it was mainly because I hadn't fully gelled with the idea and I didn't feel it held as much market relevance as I had first thought. It also wasn't necessarily relevant to my future career in the industry.
The first plan of action was to rewrite my FMP proposal, I can't resubmit but having a new plan would help me structure my work and keep me organised, my tutor also informed me this could act as a business plan as I intend on pitching my business idea to the University business department in the hope of being awarded a grant that would allow me to actually start the business for real and buy all the appropriate equipment and make my project a real business venture
The only part of my Proposal that I am keeping the same is the launch of a Beauty Company, Me and Elena work very well on a professional level together, my makeup and nail skill set compliments her hair skills well and we provide a professional service to all clients. After further research into competitors I realised the extra body of my work should be dedicated to making an internet community for myself, most makeup artists have at least a blog on their sites and as I have some experience working with Youtube it seemed only natural to start it up again, sharing my beauty tips, tricks and lessons with the world. I now want to create a visually pleasing blog and youtube channel that will create a name for myself in the industry as well as creating a client base for the freelance aspect of the company.
The Youtube and Blog aspect runs in perfect harmony with the freelance business, through research of competitors already out there I have found this to be a running theme, I also looked in to some statistics of how many beauty professionals relied on social networking platforms to help their businesses grow and the number of nail techs with their own youtube channels has risen by 151% in one year.
Determining the target market when starting a business is very important, in order to appeal to potential clients a business must be designed around the knowledge of what they would want.
I created a mood board for the target audience of Kohl Face as a freelance company on photoshop.
CLICK ON MOOD BOARDS TO ENLARGE
Customer Profile: Wealthy Business Women
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Age: 25-45
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Sex: Female
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Income bracket: financial independence. <£50,000
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Location: Major Cities and trendy suburbia
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Interests: Appreciates beautiful things, going to museums and galleries, shopping,
socialising and fine dining. Music, Theatre, Subscriptions to Vogue, Harpers
Bizarre, Tatler, Elle etc. Property development, current trends and photography.
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Area of work: Fashion, Creative industries, business owner
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Spending habits: Can be frivolous, things of beauty, cash rich, time poor, always
upgrading to the next best thing. Would prefer to reject mainstream fashion and
only shop with high-end designers whenever possible.
Customer Profile: Nouveau Riche
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Age: 18-30
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Sex: Female
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Income bracket: financial independence. <£50,000
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Location: Big cities
- Interests: Nights out, socializing in general, VIP, expensive clothes, flashy cars, Michael kors, Grey Goose, fake tan, big eyelashes, hair extensions, plastic surgery
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Area of work:
Fashion, High end
retail (particularly boutiques/salons), ‘it’ girls, wags, reality TV stars etc.
- Spending habits: Can be frivolous, Nights out, cash rich, upgrading to the next best thing. Very mainstream fashion, most money goes on appearance and clothes.
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