A personal stylist business is a business that helps clients create the most suitable image by choosing clothes and accessories that fit clients’ body types and individual needs. A personal stylist may also provide style advice and assist with hair, make-up, and even home décor.
Usually, the services of a stylist may be required before a major event or even be incorporated into daily lives of certain clients. The role of a personal stylist includes handling hair, makeup, fashion, and anything else related to the image of a client.
Steps on How to Start a Personal Stylist Business
Conduct Market Research
Conducting market research before starting any business is key to the success of the business hence you must not start a personal stylist business without conducting market research. This is because market research provides critical information about your market and your business landscape.
It can tell you how your business is perceived by the customers and clients you want to reach. It can help you determine who and where your customers are, and which customers are most likely to do business with you. Thorough market research will help you understand how your target customers think and adapt to their needs to turn them into regular customers and brand advocates.
a. Who is the Target Market for Personal Stylist Business?
If you are thinking of starting a personal stylist business then you should make target demographics all-encompassing. It should include politicians, clergies, corporate executives, socialites, business people, celebrities, the fashion and music industry, magazines and PR events, and every adult in and around your target market.
b. Is Personal Stylist Business a Profitable Business?
Yes, the personal stylist business is profitable because most personal stylists run the business solo and also from their homes hence cutting other expenditures that will deep into the profit of the business.
c. Are There Existing Niches in the Industry?
Yes, there are existing niches when it comes to the personal stylist business. Here are some of them;
- Independent personal stylists (Freelance stylists)
- Consortium personal stylists
- Mega personal stylists (They have offices in different cities of the world).
d. Who are the Major Competitors?
- Tom Eerebout & Sandra Amador
- Ilaria Urbinati
- Rebecca Corbin-Murray
- Elizabeth Stewart
- Petra Flannery
- Erin Walsh
- Jessica Paster
- Karla Welch
- Julia von Boehm
- Elizabeth Saltzman
- Jill Lincoln & Jordan Johnson
- Micaela Erlanger
- Samantha McMillen
- Leslie Fremar
- Van Van Alonso
- Rob Zangardi & Mariel Haenn
- Law Roach
- Ade Samuel
- Cristina Ehrlich
- Ashley Weston.
e. Are There County or State Regulations or Zoning Laws for Personal Stylist Business?
No, there are no county or state regulations and zoning laws for personal stylists, but players in this industry are expected to work with the existing regulations governing such business in the county or state where their business is domiciled.
f. Is There a Franchise for a Personal Stylist Business?
No, there are no franchise opportunities for personal stylist business.
g. What Do You Need to Start a Personal Stylist Business?
- A Feasibility Report
- Business and Marketing Plans
- Business Licenses and Permits
- A Good Office facility
- EIN (Employer Identification Number)/Federal Tax ID Number.
- A Corporate Bank Account
- Office Equipment
- Employees
- Startup Capital
Choose a Memorable Business Name
When looking to start a business, before you can begin to file the necessary documents with the constituted authorities or start your website, it is necessary that you come up with a name that you will be recognized with. It is essential that the name you come up with can easily be pronounced, is unique and easily memorable.
Some of the catchy business name ideas suitable for a personal stylist business are;
Creative Personal Stylist Business Name ideas
- The Queens© Personal Stylist, Inc.
- Philadelphian Connect® Personal Stylist, LLC
- Moris Jackson© Personal Stylist, Inc.
- Fidel Solutions® Personal Stylist, Inc.
- Mason Gray™ Personal Stylist, Inc.
- Linda Stone™ Personal Stylist, LLC.
- Sid Lowe© Personal Stylist, LLC
- Jonny Moore® Personal Stylist, Inc.
- Shannon Joel© Personal Stylist, Inc.
- Anthonio© Personal Stylist, Inc.
- Jeff Levi and Sons® Personal Stylist, LLC
- Cally Benton® Personal Stylist, LLC
- Emily Elton™ Personal Stylist, LLC
- Tyler Benston© Personal Stylist, Inc.
- Excel Signature® Personal Stylist, Inc.
- Santos Marcos™ Personal Stylist, Inc.
- John Button™ Personal Stylist, Inc.
- Anderson Global© Personal Stylist, Inc.
- Amos Moses® Personal Stylist, LLC
- Fritz Greene™ Personal stylist, Inc.
Register Your Business
a. What Type of Business Structure is Best for Personal Stylist Business?
The truth is that you have several options when it comes to the business structure of a personal stylist business, but the one that most players in this line of business consider is an LLC. It is common to consider an LLC because providers want to protect themselves from lawsuits.
Please note that an LLC will need an EIN if it has employees or if it will be required to file any of the excise tax forms listed below.
b. Steps to Form an LLC
- Choose a Name for Your LLC.
- File Articles of Organization.
- Choose a registered agent.
- Decide on member vs. manager management.
- Create an LLC operating agreement.
- Comply with other tax and regulatory requirements.
- File annual reports.
c. What Type of License is Needed to Start a Personal Stylist Business?
- General Business License
- Zonal Permits (Optional)
- Signage Permit
d. What Type of Certification is Needed to Start a Personal Stylist Business?
- Certification course awarding professional certification (CIC). This course offers skills training in fashion, style, and image.
e. What Documents are Needed to Start a Personal Stylist Business?
- DBA
- EIN
- Business and liability insurance
- Federal Tax Payer’s ID
- State Permit and Building Approval for your office (optional)
- Certificate of Incorporation
- Business License
- Business Plan
- Employment Agreement (offer letters)
- Operating Agreement for LLCs
- Insurance Policy
- Online Terms of Use
- Online Privacy Policy Document
- Contract Document
- Company Bylaws
- Memorandum of Understanding (MoU)
f. Do You Need a Trademark, Copyright, or Patent?
If you are considering starting a personal stylist business, usually you may not have any need to file for intellectual property protection or trademark.
Cost Analysis and Budgeting
a. How Much Does It Cost to Start a Personal Stylist Business?
On average, you can budget between $2,000 and over $100,000 to start a personal stylist business.
b. What are the Cost Involved in Starting a Personal Stylist Business
- The total fee for registering a business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services total – $1,200.
- Marketing promotion expenses (2,000 flyers at $0.04 per copy) for the total amount of $80.
- The cost for hiring a business consultant (writing of business plans inclusive) – $2,500.
- Insurance coverage at a total premium – $2,400.
- The cost of accounting software, CRM software, and payroll software – $1,500
- The cost for payment of rent for 12 months at $1.76 per square foot in the total amount of – $35,600.
- The cost for facility remodeling – $15,000.
- Phone and utility deposits will cost – ($2,500)
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $30,000
- The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound systems, tables and chairs et al) – $8,000.
- The cost of launching an official website – $600
- Miscellaneous – $2,500
c. What Factors Determine the Cost of Starting a Personal Stylist Business?
- The size of the personal stylist business
- The choice of location
- The required licenses and permits
- The type of facility
- The cost for branding, promotion, and marketing of the personal stylist business
- The cost of furnishing and equipping the facility
- The cost of the insurance policy covers
- The cost of registering the business
- Cost of recruiting and training your staff
- The cost for the purchase and customizing of uniforms
d. Do You Need to Build a Facility? If YES, How Much Will It Cost?
It is not compulsory to build a new facility for your personal stylist business because you can run the business from your home or a shared office facility, but if you have the required finance, it will pay you to build your own facility. The truth is that building or reconstructing a facility will help you come up with a facility that will perfectly fit into your overall business goals and vision.
e. What are the Ongoing Expenses of Personal Stylist Business?
- Utility bills (internet subscriptions, phone bills, signage, and software renewal fees et al)
- Salaries of employees
f. What is the Average Salary of your Staff?
- Chief Executive Officer – $62,000 Per Year
- Admin and HR Manager – $42,000 Per Year
- Personal Stylists and Fashion Consultants – $40,000 Per Year
- Marketing and Sales Executive $40,000 Per Year
- Accountant – $38,000 Per Year
- Customer Care Executive/Front Desk Officer – $32,000 Per Year
g. How Do You Get Funding to Start a Personal Stylist Business?
- Raising money from personal savings and sale of personal stocks and properties
- Raising money from investors and business partners
- Sell shares to interested investors
- Source for soft loans from your family members and friends.
Write a Business Plan
a. Executive Summary
Cally Benton© Personal Stylist, Inc. is a registered and licensed personal stylist business with its head office in Los Angeles, California.
Cally Benton© Personal Stylist, Inc. is a client-focused and result-driven personal stylist business that provides broad-based experience at an affordable fee that won’t in any way put a hole in the pocket of our clients. We will offer a standard and professional personal stylist service to all our clients. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they hire our services.
b. Service
- Fashion communication and styling
- Fashion image making and styling
- Fashion product and promotion
- Fashion styling and creative direction
- Fashion styling and production
c. Mission Statement
Our mission is to establish a personal stylist business that will provide top-notch services to both individual and corporate clients in the United States and across the world.
Vision Statement
Our vision is to establish a standard personal stylist business that will become the leading brand in Los Angeles, California, and also to be amongst the top 20 fashion stylists in the United States of America within the first 10 years of operation.
d. Goals and Objectives
The goal and objective of a personal stylist business are to perfect the image of a client.
e. Organizational Structure
- Chief Executive Officer
- Admin and HR Manager
- Personal Stylists and Fashion Consultants
- Marketing and Sales Executive
- Accountant
- Customer Care Executive / Front Desk Officer
Marketing Plan
a. SWOT Analysis
Strength:
- Ideal location for personal stylist business
- Highly experienced and qualified employees and management
- Access to clothes and other fashion accessories from business partners
- Availability of different types of personal styling-related services.
Weakness:
- Financial constraints may restrict the publicity and branding of the business
- A new business that will be competing with well-established personal stylists in the city and on the internet.
- Inability to retain our highly experienced and qualified employees longer than we want during the teething stage of the business.
Opportunities:
- A rise in the number of celebrities who would need personal stylists
- Online market, new services, new technology, and of course the starting of new markets.
Threat:
- The arrival of a new personal stylist business within our market space
- Low demand during the pandemic will reduce industry profitability.
- Economic uncertainty
- Liability problems
- The government could change its regulatory status and decide to enforce strict regulations that can strangulate new businesses like ours.
b. How Do Personal Stylists Make Money?
Personal stylists make money charging their clients when they offer the following services;
- Fashion communication and styling
- Fashion image making and styling
- Fashion product and promotion
- Fashion styling and creative direction
- Fashion styling and production
c. Payment Options
- Payment via bank transfer
- Payment with cash
- Payment via credit cards
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
- Payment via bank draft
d. Sales & Advertising Strategies
- Introduce your stylist business by sending introductory letters alongside your brochure to corporate organizations, socialites, celebrities, photo studios, film production companies, and other key stakeholders throughout the city where your personal stylist business is located.
- Advertise on the internet on blogs and forums, and also on social media like Twitter, Facebook, and LinkedIn to get your message across
- Create a basic website for your business to give your business an online presence
- Join local personal stylist business associations for industry trends and tips
- Provide discount days for your customers
- List your business on yellow pages ads (local directories)
- Encourage the use of word-of-mouth marketing (referrals)
Financial Projection
a. How Much Should You Charge for your Product/Service?
The amount a personal stylist charges their clients depends on the type of services rendered. Many personal stylists charge anywhere from $60 an hour to $200 an hour. Some charge by the project as well: from $500 to $2,000 per day or project.
b. How Much Profit Do Personal stylist business Owners Make a Year?
It depends, but the available report shows that on average, a small to medium-sized personal stylist business can earn anywhere from $80,000 to $150,000 in a year.
c. What Factors Determine the Amount of Profit to Be Made?
- The capacity of the personal stylist business
- The types of services offered
- The location the personal stylist business is covering
- The management style of the personal stylist business
- The business approach of the personal stylist business
- The advertising and marketing strategies adopted by the personal stylist business.
- The number of years the personal stylist is in business
d. What is the Profit Margin of a Personal Stylist Business?
The profit margin of a personal stylist business is not fixed; to a large extent, it will depend on some factors that are unique to the service you are offering.
e. What is the Sales Forecast?
Below is the sales forecast for a personal stylist business. It is based on the location of the business and other factors as it relates to such startups in the United States;
- First Fiscal Year: $320,000
- Second Fiscal Year: $450,000
- Third Fiscal Year: $750,000
Set Up your Shop/Office
a. How Do You Choose a Perfect Location for a Personal Stylist Business?
- The demography of the location especially as it relates to people that are likely to hire the services of a personal stylist
- The demand for the services offered by personal stylists in the location
- The purchasing power of businesses and residents of the location
- Accessibility of the location
- The number of personal stylists in the location
- The local laws and regulations in the community/state
- Traffic, parking and security et al
b. What State and City are Best to Start a Personal Stylist Business?
- Las Vegas, Nevada
- Los Angeles, California
- Ponte Vedra Beach, Florida
- Dallas, Texas
- Silver Spring, Maryland
- Rowland Heights, California
- Portland, Oregon
- Oak Lawn, Illinois
- Green Bay, Wisconsin
- New York City, New York
c. What Equipment is Needed to Operate a Personal Stylist Business?
- Booking software
- Camera
- Makeup Kits
- Computers and laptops
- Printers
- Telephone
- Fax machine.
Hire Employees
When it comes to hiring employees for a standard personal stylist business, you should make plans to hire a competent chief executive officer (you can occupy this position), human resource and admin manager, accountant, personal stylists, and fashion consultants, and call center agents.
Launch the Business Proper
In recent times, no personal stylist business opens its door for business without first organizing an opening party to officially launch the business. You can choose to do a soft opening party if you are operating on a low budget or you can go for a grand opening party.
The bottom line is that with a proper launching of the personal stylist business, you will officially inform people in your city that your personal stylist business is open for business.
a. What Makes Personal Stylist Business Successful?
- Develop strong, up-to-date knowledge of designers, brands, and trends
- Provide expert knowledge on products and styling ensembles
- Create a lookbook
- Build a robust network of celebrities
- Hone your distinctive point of view
- Choose a good location and office facility to launch the business
- Make sure your partner with key stakeholders and offer a wide range of personal stylists and fashion services (give your customers options)
- Be deliberate with your marketing sales approach
- Encourage the use of word of mouth to promote your personal stylist business
- Leverage all available online and offline platforms to promote your personal stylist business
b. What Happens During a Typical Day at a Personal Stylist Business?
- The office is open for the day’s work
- The walk-in areas, chairs, and tables are properly arranged
- Walk-in customers are attended to
- Phone calls and inquiries are attended to
- Personal stylists and fashion consultants are attached to clients and work with them as demanded
- Administrative duties are carried out
- Reports are written and submitted to superior officers
- The business is closed for the day.
c. What Skills and Experience Do You Need to Build a Personal Stylist Business?
- An eye for visual composition and proportion.
- Commercial awareness including a good knowledge of designers, brands, and trends.
- The ability to meet deadlines.
- An excellent work ethic and can-do attitude.
- An exceptional eye for detail.
- A positive, proactive, and assertive approach.
- Initiative, idea generation, and problem-solving skills
- Strong communication skills
- The ability to work both autonomously and collaboratively in a team
- Competent numerical skills
- Organization, time-management, and project management skills
- The ability to multitask
- General knowledge of photography and lighting
- The ability to deliver exceptional customer service
- Experience in using social media
- IT literacy includes the ability to use InDesign, Photoshop, Capture One, and Microsoft
- Flair and individuality.