![How to plan and track the budget of your makeup artist service [template]](http://onlineyougrow.com/cdn/shop/articles/cov-budget-4_a1c54c19-51aa-44db-ab88-d037a8480cb0.png?v=1715856550&width=1100)
If you don’t plan and track your makeup business budget properly, you're setting yourself up for failure.
When we developed our strategy pack for makeup artists, we saw a lot of professionals in the beauty industry struggling with finances and planning.
They were disorganized, had no grasp of cash flow, and were drowning in financial troubles despite having a steady stream of clients.
Don’t let this be you—stand out and succeed.
We’ve created a small, free tool to help you get started: our Budget Tracker and Planner. Let’s turn your makeup business's finances around and set you on the path to success!
Get the budget tracker tailored for makeup artists
Most makeup artists don't know how to plan and track their budget. This spreadsheet will help you.
Example of a full budget for makeup artists
Here is an example of a (very) detailed budget for a makeup artist, to give you some inspiration
1. Rent and Utilities
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Studio Rent | Lease for makeup studio space | $1,500 | $18,000 |
| Electricity | Power consumption for lighting and equipment | $200 | $2,400 |
| Water | Water usage | $50 | $600 |
| Internet & Phone | Internet service and business phone | $100 | $1,200 |
| Waste Removal | Garbage and recycling services | $50 | $600 |
| Insurance | Property and liability insurance | $100 | $1,200 |
2. Salaries & Wages
| Position | Number of Employees | Monthly Cost per Employee | Total Monthly Cost | Annual Cost |
|---|---|---|---|---|
| Lead Makeup Artist | 1 | $3,000 | $3,000 | $36,000 |
| Assistant Makeup Artist | 1 | $2,000 | $2,000 | $24,000 |
| Receptionist | 1 | $1,500 | $1,500 | $18,000 |
3. Makeup & Supplies
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Makeup Products | Foundations, eyeshadows, lipsticks, etc. | $1,000 | $12,000 |
| Brushes & Tools | Brushes, sponges, applicators | $200 | $2,400 |
| Sanitizing Supplies | Cleaners, sanitizers, disinfectants | $100 | $1,200 |
| Disposable Supplies | Wipes, cotton pads, tissues | $50 | $600 |
4. Marketing & Advertising
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Online Advertising | Google Ads, Facebook Ads, etc. | $200 | $2,400 |
| Social Media Management | Managing social media accounts | $300 | $3,600 |
| Print Advertising | Flyers, posters, magazine ads | $100 | $1,200 |
| Website Maintenance | Hosting, domain, updates | $50 | $600 |
| Email Marketing | Email campaigns and newsletters | $100 | $1,200 |
| Promotional Events | Special events and promotions | $150 | $1,800 |
5. Miscellaneous Expenses
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Equipment Maintenance | Regular maintenance of makeup equipment | $100 | $1,200 |
| Uniforms | Staff uniforms and aprons | $50 | $600 |
| Licenses & Permits | Business licenses, health permits, etc. | $50 | $600 |
| POS System | Point of Sale software and hardware | $100 | $1,200 |
| Contingency Fund | Emergency repairs and unexpected costs | $200 | $2,400 |
| Office Supplies | Stationery, pens, printer ink, etc. | $50 | $600 |
| Staff Training | Training programs and materials | $100 | $1,200 |
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We have studied the strategies of the best makeup artists in the world. Replicate them now!
What are the biggest expenses for a makeup artist?
Be mindful of these potential pitfalls. Here are five major costs every makeup artist needs to consider, along with some tips on how to manage them effectively.
- Makeup and beauty productsThese can take up a significant portion of your budget. You're dealing with products that have a shelf life, and prices can vary based on brand, quality, and availability. To keep these costs under control, focus on buying in bulk, negotiating better prices with suppliers, and minimizing waste. It's easy to overspend by purchasing too many products or opting for high-end brands that don't necessarily add value to your services.
- Your teamIf you have a team of makeup artists or assistants, their wages, benefits, and training can be costly. This expense is always high because you need skilled professionals to provide excellent service and keep your business running smoothly. You can optimize labor costs by scheduling efficiently, cross-training your team, and monitoring productivity. However, be careful not to underpay or overwork your staff, as this can lead to high turnover and poor service quality.
- Studio rent and utilitiesPrime locations come with high rent, but they can attract more clients. Utilities like electricity, water, and heating are essential but can add up quickly. To optimize these costs, negotiate favorable lease terms and invest in energy-efficient appliances and lighting. Overspending often happens when you choose a location that's too large or too luxurious for your needs.
- MarketingYou need to promote your makeup services, but advertising can be expensive, whether it's online ads, social media campaigns, or traditional media. Optimize this expense by focusing on cost-effective methods like the ones we recommend. Overspending can occur if you invest in flashy campaigns without a clear return on investment.
- Tools and equipmentThis includes everything from makeup brushes to lighting and photography equipment. These are expensive because quality tools and regular maintenance are crucial for delivering top-notch services and ensuring client satisfaction. Optimize by investing in durable, high-quality tools and maintaining them regularly to avoid costly replacements. You can overspend by going for the latest high-tech gadgets you don't really need.
How to spend less with your makeup artist service?
Here are practical tips to help you, as a makeup artist, optimize your budget and manage expenses more effectively.
| Expense | Tips to Optimize |
|---|---|
| Makeup Products | Partner with cosmetic brands for discounts and consider buying in bulk to save on costs. |
| Tools and Brushes | Invest in high-quality, durable tools and brushes that will last longer and require less frequent replacement. |
| Studio Rent | Negotiate lease terms during renewal or consider sharing a studio space with other professionals to reduce costs. |
| Marketing | Run social media contests for your makeup services and collaborate with local influencers for free exposure. |
| Training and Education | Take advantage of free online tutorials and webinars to stay updated on the latest trends and techniques. |
| Insurance | Regularly review insurance policies to ensure they meet current needs and compare rates annually. |
| Client Management | Use client management software to keep track of appointments, preferences, and follow-ups efficiently. |
| Travel Expenses | Plan your travel routes to maximize efficiency and reduce fuel costs, and consider virtual consultations when possible. |
| Sanitation Supplies | Train yourself on the efficient use of sanitation supplies to reduce waste and ensure a clean working environment. |
| Website Maintenance | Use a cost-effective website builder and regularly update your site to attract new clients and retain existing ones. |
| Photography | Invest in a good camera or smartphone with a high-quality camera to take professional photos of your work for your portfolio. |
| Licensing and Permits | Stay up-to-date with local regulations to avoid fines and costly renewals. |
| Office Supplies | Purchase supplies in bulk and go paperless where possible with digital scheduling and invoicing systems. |
| Networking | Attend local beauty events and workshops to network with other professionals and potential clients. |
| Client Gifts | Offer small, cost-effective gifts like sample products or discount vouchers to build client loyalty. |
| Uniforms | Choose durable, easy-to-clean uniforms and offer yourself a stipend for maintenance instead of using an external service. |
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Expenses that are just useless for a makeup artist
Yes, some expenses for your makeup artistry business are just unnecessary. They don't contribute to increasing revenue or enhancing the client experience.
| Makeup Artist Expense | Reason It's Useless |
|---|---|
| Luxury Studio Decor | Overly lavish studio decorations don't necessarily attract more clients and can be a drain on the budget. |
| High-End Makeup Brands | Unless you cater to a very exclusive clientele, most clients are satisfied with mid-range makeup products. |
| Excessive Product Range | Having too many products increases inventory costs and can lead to more waste. |
| Top-Tier Equipment | High-end makeup tools are not always necessary and can be cost-prohibitive. |
| Print Advertising | Traditional print ads often have a lower return on investment. Don’t include them in the marketing strategy of your makeup business. |
| Multiple Uniform Styles | Having various uniform styles increases costs without adding significant value to the client experience. |
| Excessive Staff | Overstaffing leads to higher labor costs without necessarily improving service quality. |
| Premium Subscription Services | Expensive subscriptions for beauty magazines or music often go unnoticed by clients. |
| Exclusive Ingredients | Using rare makeup ingredients can inflate costs and complicate supply chains. |
| Costly Furniture | High-end furniture is not always appreciated by clients and can be a significant expense. |
| Custom Printed Materials | Personalized items like napkins or towels are a minor detail that most clients overlook, and they can be expensive. |
| Unnecessary Software | Paying for software with features you don’t use is a waste of resources. |
| Premium Water Brands | Most clients are content with filtered tap water, making expensive bottled water unnecessary. |
| Extra Vehicles | Maintaining more vehicles than needed for mobile services increases operational costs. |
| Excessive Membership Fees | Paying for multiple industry memberships often yields little benefit. |
| Overly Frequent Renovations | Constantly updating studio decor and layout can be costly and disrupt operations. |
| Expensive Centerpieces | Elaborate studio centerpieces are often ignored by clients and add to the cost. |
| High-End Tools | Luxury makeup tools are prone to damage and expensive to replace, often going unnoticed by clients. |
| Excessive Staff Meetings | Too many meetings can reduce productivity and increase labor costs. |
| Expensive Marketing Materials | Frequently redesigning marketing materials is costly and often unnecessary. |
| Unused Promotional Materials | Ordering more promotional items than needed leads to waste and unnecessary expense. Get our marketing budget planner template. |
| Paid Directory Listings | Many free listing options are available, making paid listings often redundant. |
| High-End Event Equipment | Specialized event equipment is often unnecessary and adds to costs without a proportional benefit. |
Stop working with a tight budget for your makeup artist service!
Managing a budget for a makeup artist business when funds are tight can feel overwhelming. It's like being trapped in a cycle where any unexpected expense can throw you off balance.
This constant pressure makes it nearly impossible to invest in growth opportunities, leaving you always scrambling to cover costs. It's a life filled with stress and sleepless nights.
Yes, you can continue down this path, cutting corners and barely making ends meet. But there's another part of the equation you might be overlooking. Instead of just trying to cut costs, you can focus on growing your revenue. More income means more flexibility and more resources to invest in your business.
And no, you don't necessarily have to spend money to grow. There are plenty of zero-cost initiatives and strategies that can help you increase your revenue by 10%, 20%, or more. We've detailed all of these strategies in our guides, after studying dozens of makeup artists just like you. Get them now!
Make your makeup artist service more profitable
We have studied the strategies of the best makeup artists in the world. All their tactics are explained in our pack!
