Starting up your own business can seem daunting but it is actually quite straight forward. Just remember being your own boss and working for yourself is fantastic and allows you more freedom than a conventional 9-5. You can work as hard or as little as you feel you want to, setting your own hours and fees.
Listed below are some considerations that you will need to be aware of when setting up your own business.
Sole Trader or Limited Company
Setting up as a sole trader is relatively straightforward and easy to do. You will need to inform the HMRC that you are trading and you must complete a self-assessment tax return form every year to declare your earnings upon which you will pay tax on the profits as well as National Insurance Contributions. You may need the help of an accountant to do this for you but it is quite easy to do yourself and there are many apps now available that can help you do this. In the United States of America you would need to inform the IRS.
To begin with, it may be better for you to be a sole trader but if your company expands dramatically, you may well want to become a limited company. Setting up as a limited company is a little more complicated as you’ll need to register your company with Companies House after which, you will receive a Certificate of Incorporation detailing when your company was formed and its number. This can be done online, as can setting up as a sole trader. There is in-depth guidance on how to do this on their website.
You will need to keep clear and accurate records of your earnings and expenditure which means all receipts must be kept for any spending in relation to your business and invoices should be raised for each makeup job that you are employed to do. You can easily find invoice templates online and a simple spreadsheet is useful to record your income and outgoings. You will find it much easier to complete your self-assessment tax returns by being methodical in your record keeping.
As a sole trader, you will need Public Liability Insurance but this is not too expensive. It protects you from claims if a client has had an allergic reaction to the makeup you use, you damaged a bride’s dress or someone tripped over a hairdryer cord or your makeup kit and damaged themselves.
It all sounds rather formal but it paves the way for a successful and thriving career if it’s set up correctly from the start!
One of the most important things to do before you set up business as a bridal makeup artist in your area, is to make sure there is a market for your services by checking out the competition.This can be done by searching the internet to find other makeup artists in your region (and outside), in particular those specialising in bridal makeup artistry.You can then enquire about their rates, albeit this may be better coming from a friends email rather than your own, as it will look rather obvious and they may not want to share their info!This is a great way for you to gauge how much you can charge in your area without under or over pricing yourself.
Look out for wedding planners, dress shops, florists and wedding photographers/videographers all of which can be approached with your company information, business cards or a polite introduction email with a reference to your work.
It is also a good idea to check on wedding venues in and around your area such as cathedrals, churches, chapels, hotels, manor houses, barns, historical houses– even some garden centres offer themselves as a wedding venue!You could visit many of these venues personally in order to drop off a flyer or card.Most venues have a preferred suppliers list, you can enquire about this and see if your work would be up to the standard they require to put you forward to potential brides.
Attend as many Wedding Exhibitions and Fairs as possible so you can meet and network with other industry professionals and potentially distribute your flyers, business cards and price lists.It is important to show an interest in their company first however as nobody likes to be sold to when they have paid good money to exhibit at the event, be respectful and ask the right questions before talking about yourself.
It is also a good idea to list your business in a wedding directory as well as local business directories.These can often be in the form of a blog or website and can be found quite easily via a Google search.
Advertise your services in county magazines and/or local newspapers.Sometimes this can be expensive but if you can submit some editorial about you as part of the deal that makes it more worth while.
Ensure when setting up your website, or having someone else set it up, that it appears on the first page of Google, for instance. This is achieved by using carefully selected keywords, such as ‘bridal makeup’ and your area, ‘makeup artist’ and your area, ‘wedding makeup’ etc.It can easily be done on your introduction page, i.e. About Me.Try and introduce as many keywords as you can think of bearing in mind what a bride will be searching for.You can use a keyword search tool such as www.keywordtool.io which will help you.
Use social media.Set up a Facebook page for your business.Use Twitter and Instagram as well as Pinterest to promote your business and other services to gain followers.‘Liking’ other wedding suppliers is a great way of gaining interest and likes for your own profile. Make sure your pages are updated on a very regular basis with relevant photos and comments. You can link these to your website to help drive potential clients in your direction.