Are you about starting a beauty pageant competition? If YES, here is a complete sample beauty pageant competition business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting a beauty pageant competition. We also took it further by analyzing and drafting a sample beauty pageant competition marketing plan template backed up by actionable guerrilla marketing ideas for beauty pageant competitions. So let’s proceed to the business planning section.
Starting a beauty pageant competition business can be very lucrative if you intend to run it as a profit making venture. You should however take great care in deciding what name you want to use for your pageantry as you cannot choose a name that is either in use or have been used before.
Also, you would need to decide on a great location for your business so as to remain conspicuous and also ensure that the office remains easily accessible to the public. To succeed in this kind of business, prior experience either as a pageant director or an employee would help you know the right industry secrets that would enable the business become a success.
To start up, you will need to engage the services of a reputable business consultant who has thorough knowledge of the industry and the business so as to gauge its viability. Another important aspect you would need to look into is writing a business plan.
Writing a comprehensive business plan is not so easy but there are several options available for you in writing one. You can either approach a business plan writer to help you write out your business plan (after providing necessary informations for the plan), or you could go online and get free templates that will aid you in writing your business plan. Below is a sample of a beauty pageant competition business plan.
A Sample Beauty Pageant Competition Business Plan Template
1. Industry Overview
In the united states of America, there are approximately 2.5 million girls that participate in more than 100,000 beauty pageants annually. Out of this number, about 72 percent of these girls usually hire a pageant coach. 6 percent of the girls annually go through depression after participating in such beauty pageants.
The average Body Mass Index for contestants has continued to change. It was 20.8 in the 1930s compared to the 18.9 that is now prevalent in recent times. This development has led to about 80 percent of women to feel pressured about their weight, as what they see on the media makes them feel insecure.
However, the cost of participating in a beauty pageant for each participant is a bit on the high side as a girl often has to spend thousands of dollars for entry fees, dresses, wig, spray tans, make-ups and coaches so as to stand a chance in the competition.
In 1968, beauty contests were regarded as a symbol of male chauvinism in the United States of America and so there were several demonstrations against the contests. This became the bedrock of the massive feminist movements being experienced today.
But presently, research has shown that the audience for these shows are not only limited to men, women actually constitute a major audience for these beauty pageants.
Beauty pageants are not necessarily limited to the beauty of contestants as more factors are being put into consideration when judging the contestants. This has dispelled the age long notion that beauty pageants are reserved for less intelligent women.
The beauty pageant industry is largely unregulated and puts a lot of pressure on participants especially children who are too young to understand the intricacies of pageantry. As at 2008, about 25.12 million people in the United States of America watched the Miss America Pageant on television.
2. Executive Summary
Golden Birds Beauty Pageants Inc is a standard beauty pageant organization that will be located in Los Angeles – California here in the United States of America and will cater to all our different clients both domestic and corporate. We are not only limited to organizing beauty pageants as we will be offering other services such as training and consultancy services as well.
We intend to start a business that will be able to compete with other leading brands in the industry. Our vision is to ensure that we run an organization that churns out transparent beauty competitions according to set standards. We also intend to become a renowned beauty pageant company in three years time not only here in California but also in the United States of America.
We are willing to go the extra mile as a company to ensure that we invest in getting the best professionals to help build our business. Our management team for instance are those that comes with high industry experience and expertise and know how best to ensure that our business attains its desired goals and objectives.
We are going to run a business that is not only transparent but one that is set up according to standard international business practices. We have also secured the necessary licenses and permits necessary for us to run this business.
We are set to redefine the way beauty pageants are run as we have put in place plans to ensure that our staff undergo trainings continuously and at regular intervals in order to ensure that they are able to handle all those that will participate in our pageants.
We place a high value on our customers and as such we are willing to ensure that we not only meet but exceed their expectations as well, from those participating in the pageants to those that will intend to partner with us in running these pageants.
We will ensure that our employees get the best pay and welfare packages that they deserve and better than what their counterparts are getting in similar start-ups such as ours. This will serve to motivate our employees to remaining committed to our brand and ensuring that we achieve our goals and objectives.
Also, our chief executive officer, Mr. Eric Trump is a renowned businessman and entrepreneur and has been in the pageant industry for more than 10 years in a managerial position and therefore has the experience necessary to ensure that we are able to attain all our goals and objectives.
3. Our Products and Services
Golden Birds Pageantry Inc intends to organize beauty pageants as our core service to all our intending clients. We however intend to create multiple sources in line with our core business offering, by offering more services that will generate more revenue for our business.
Our intention is to make as much profit as we can, and as is permissible by the laws of the United States of America. Some of the services that we intend offering are;
- Organizing of beauty pageants
- Organizing of award shows
- Organizing catwalks
- Consultancy and advisory services
4. Our Mission and Vision Statement
- Our vision is to ensure that we run an organization that churns out transparent beauty competitions according to set standards. We also intend to become a renowned beauty pageant company in three years time not only here in California but also in the United States of America.
- In order for us to achieve our vision, we intend to ensure that we choose an appropriate location that is strategic and also build the best business structure that will ensure that we attain our corporate goals and objectives. We also intend to massively engage in publicity strategies so as to create awareness for our beauty pageant business.
Our Business Structure
Building the best business structure for our business is very important because we intend to run a standard beauty pageant competition business here in Los Angeles, USA and that is why we have laid down structures and processes and are willing to go all out in ensuring that we employ the best hands that are competent and hardworking to help grow our business to the standard we require.
We have a vision of the beauty pageantry business we intend to build, which is why we are willing to pay for the best management team available in this industry and who have the right expertise and experience to help us attain the vision we have for our organization.
The management team we are using are those that have identified with our corporate goals and objectives and are therefore willing to remain committed in ensuring that they and the lower end staff work hand-in-hand to achieve it.
Due to the various services that we intend offering here in our beauty pageantry organization, we will expect to employ more than the conventional amount of employees necessary to handle all the responsibilities that will crop up with the tasks that will be made available at Golden Birds Beauty Pageant Inc.
Therefore the business structure that we intend to build at Golden Birds Beauty Pageant Inc are;
- Chief Executive Officer
- Administrative Manager
- Human Resources Manager
- Pageant Director
- Logistics Manager
- Customer Executives Officer
- Marketing Executives
5. Job Roles and Responsibilities
Chief Executive Officer
- Responsible for creating all the different strategies and policies necessary to guide the organization.
- Ensures that the right management team are recruited, selected, oriented and trained so that they would effectively communicate the organization’s values and objectives to lower end staff.
- Responsible for meeting with high level clients and also signing business deals on behalf of the organization.
- Ensures that all the administrative functions of the organization are smoothly coordinated.
- Helps the Chief Executive Officer to ensure that the policies of the organization are effectively implemented.
- Assigns accountabilities and also ensure that a conducive work environment is created for all employees.
Human Resources Manager
- Defines the required job positions that will allow for the recruitment of the right hands for the organization.
- Responsible for recruitment, training, evaluation and also assessment of employees.
- Responsible for performance appraisals and also welfare packages of all employees.
- Prepares the financial statements, records, reports and budgets on behalf of the organization.
- Conducts financial analysis and forecasting on behalf of the organization.
- Handles all the financial transactions including the payrolls for the organization.
- Responsible for creating activities for the pageant.
- In charge of all the participants that will show up for the pageants.
- Creates the schedules that will be used for any pageantry event.
- Responsible for coordinating the activities during pageants.
- Works with the pageant director to ensure that all pageants are in accordance to set plans.
- Works with the driver to ensure that transportation problems do not occur during any pageants.
Customer Executives Officer
- Responsible for answering inquiries and relating accurate information about the organization to participants and clients.
- Remains updated about industry trends as well as organizational policies in order to give clients accurate information.
- Ensures that the customer database for the firm is updated.
- Develops and executes the marketing strategies that will generate revenue for the organization.
- Meets high level clients and engages in strategic meetings on behalf of the organization.
- Conduct marketing researches in order to develop and discover new target markets for the organization.
- Runs official errands on behalf of the organization.
- Obeys all traffic laws and regulations.
- Carries out any other duties as assigned by the human resources manager, logistics manager and admin manager.
- Responsible for ensuring that the premises remains clean at all times.
- Ensures that cleaning supplies are always in stock.
- Carries out any other duties as determined by management.
6. SWOT Analysis
Due to the fact that we intend to run a standard beauty pageant organization here in Los Angeles – California, we have engaged the finest business consultant here in Los Angeles to look through our business concept and after examining, determine if the business we intend to start will grow and thrive to becoming what we intend it to and also compete favorably against the competitors.
In view of this, we were able to take a look at our strengths, weaknesses, opportunities and threats and used this to determine what we were likely to face when starting and running this business here in Los Angeles – California and also all over the United States of America.
The result therefore of the SWOT analysis that was conducted on behalf of Golden Birds Pageant Inc;
Our strengths lies in the fact that we would be offering several services which makes us more likely to attract more clients to patronize our services. We have structures and processes in place to ensure that we run a transparent organization and our staff have the experience and expertise to ensure that we run a practice that is up to international best practices.
Also, our Chief Executive Officer, Mr. Eric Trump is a businessman and entrepreneur that has the necessary experience that will ensure that we are able to attain all our goals and objectives.
We are relatively a new business that will be battling other beauty pageantry organizations here in Los Angeles with limited finances, a relatively unknown name and few staff members as when compared to our established competitors.
There are several opportunities that are open to us in this industry because while we can organize pageantries, we also can organize other shows that have to deal with events related to this industry, which means more revenue generating avenues for us.
Every business faces threats every now and then but it is what they do with these threats that determine how the business will likely survive. Therefore the threats that we are likely to face as a business are the arrival of a competitor in the same location offering the same services, and a downturn of the economy.
7. MARKET ANALYSIS
- Market Trends
Beauty pageants have long existed where young female contestants come together to contest for prizes. There are several factors that are used to determine who the winner of the pageant becomes as it is usually not just about beauty. Participants who contest in beauty pageants usually have to go for an audition first to determine if they will eventually make it to the final contest.
Over the years, California has grown to be the city that has seen a lot of pageants as more beauty and even other pageants take place every year. However, even though beauty pageants have other factors that contribute to a winner being picked, most beauty pageants require contestants to retain a certain body size and height to even qualify.
8. Our Target Market
Beauty pageants have become quite popular, which means there are a whole range of available customers willing to patronize any standard beauty pageant. However, while the participants for a beauty pageant are always targeted at young adults – females and males, the target market cannot be restricted to just these groups of people.
In view of this, we have decided to conduct a market research that will ensure that we are fully able to identify our target market and know what they would be expecting from us and what we should expect from them as well. From our research, it is apparent that we are in the beauty pageant business to cater to the following groups of people;
- Young adults – males and females
- Corporate executives
- Event agencies
- And every other person affected by this industry
Our competitive advantage
Our intention of starting Golden Birds Beauty Pageant is to build a beauty pageant organization like no other. We will build a beauty pageant business that is not only one of international standard but also one that thrives on transparency. We intend for our business to not only be recognized nationally but internationally as well.
With these in mind, we have come up with several competitive strategies that will help us compete favorably against our competitors in the industry.
We intend to create beauty pageants that will thrive on transparency, thereby boosting the growth and our brand image. We will ensure that our clients and participants all understand how the organization is being run, therefore enabling them to be able to participate and identify with our core values.
The management team we intend to hire to handle various managerial positions in our organization all come highly experienced, having worked at various beauty pageants organizations and therefore have the capability of ensuring that we are able to achieve our goals and objectives.
Our management team also understands our core objectives and have aligned with them and are committed and dedicated to ensuring that our organization comes up from being nothing to being a national and even international force.
Because we will be dealing with two levels of clients – participants and advertisers – we will do all we can to ensure that we not only meet their expectations but exceed it as well by hosting beauty pageants better than what similar organizations like us have been doing.
Finally, we will ensure that all our employees are well taken care of. We intend to ensure that what our employees earn as well as their welfare packages are among the best within similar start-ups not only here in Los Angeles – California but all over the United State of America as well.
Ensuring that our employees work in an environment that is conducive and mentally stimulating, attend trainings that will enhance their skills and increase productivity for our organization, and also get the best welfare packages will go a long way in ensuring that they are committed to helping us attain our goals and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Golden Birds Beauty Pageantry Inc has been established with the aim of generating revenue and maximizing profit in the entertainment cum pageantry industry in the United States of America.
We are therefore going to ensure that we go all the way in generating revenue that will cover for the various services we intend to offer our various customers. Golden Birds Beauty Pageantry Inc will intend to generate income by offering the following services;
- Organizing of beauty pageants
- Organizing of award shows
- Organizing catwalks
- Consultancy and advisory services
10. Sales Forecast
Pageantries especially beauty pageants have become so popular and so more young ladies and men are always eager to participate in these kinds of competitions.
California is a the most populous city in the United States of America and a fine city that has lots of attractive young men and women, therefore this makes our location quite strategic as we are well positioned to take on the available market here in Los Angeles – California, and not only generate enough revenue but make enough profits in our first year of running beauty pageants.
Before making this bold assertion, we have critically examined the pageantry cum entertainment industry line of business and having analyzed our chances in the industry, we have been able to come up with an accurate sales forecast.
The sales projections were carried out based on certain information and data gathered on the field as well as some assumptions that are peculiar to start-ups such as ours not only here in Los Angeles – California but all over the United States of America.
Below therefore are the sales projections for Golden Birds Beauty Pageantry Inc based not only on our location but on several other factors as well;
First Fiscal Year-: $400,000
Second Fiscal Year-: $800,000
Third Fiscal Year-: $1,700,000
N.B: It should be noted that the above sales projections were conducted based on what was obtainable in the industry at the time of projections. The sales projections are also based on the certain facts such that there won’t be a major economic meltdown and that no competitor would arrive within the same location as ours offering same or better services than we do.
Should any of the above factors or assumptions change positively or negatively, it would affect our sales projection by causing an increase or decrease in figures.
- Marketing Strategy and Sales Strategy
Without marketing no business has any chance of surviving especially the beauty pageantry business. Marketing is a very important aspect of a business as it is where the business will generate a major share of its revenue from.
This is why we took our location into cognizance as this would have an effect on the marketing strategies we intend to create and implement for our organization. We have conducted a market research and feasibility study that will allow us understand the target market and therefore create strategies that will allow our clients become attracted to our brand.
These marketing strategies will also allow us not only penetrate the market but get a huge share of the target market whilst allowing us to compete favorably against our competitors locally and nationally in the industry.
To create very effective marketing strategies, we intend to engage the services of a reputable marketing consultant here in Los Angeles who has the necessary knowledge about the industry we intend going into and who will offer us the best marketing and advertising strategies that will allow us to become a brand to be reckoned with in the beauty pageantry industry here in the United States of America.
We also have a strong marketing team that we have empowered to ensure that our corporate sales goals are achieved. Our marketing team has also been empowered to review existing marketing strategies and ensure that those that are not achieving the intended goals are either modified or replaced. Therefore the marketing and sales strategies that we intend to adopt for Golden Birds Beauty Pageantry Inc are;
- Place massive but well structured advertisements in local and national newspapers and magazines as well as on radio and television stations.
- Throw a beauty themed grand opening party when launching our business to ensure that we create awareness about our business and generate interest from our target market.
- Engage in road shows in targeted locations so as market our business to interested participants.
- Use the social media platforms such as Facebook, Instagram, Snapchat, and Twitter to massively advertise our business.
- Ensure that our marketing team engages in direct marketing on behalf of the company.
- Ensure that our business is listed in local and online directories.
11. Publicity and Advertising Strategy
The entertainment cum beauty pageant industry is one that thrives on publicity and as such anyone intending to start this business will need to engage in massive publicity in order to get the attention of the target market. Publicity for every business is a double edged sword because it not only causes an increase in awareness but also generates revenue for the company which is why even established companies still go ahead to publicize their business.
Because we aim to be a business that will thrive for very long, we intend to engage the services of a reputable brand consultant that not only has good knowledge about the industry but also has the necessary experience from guiding several other businesses such as ours in achieving their goals and intentions.
The brand consultant will ensure that the right publicity strategies are crafted for us in order that we achieve our intentions of becoming industry leaders. Therefore the publicity and advertising strategies we intend to deploy for Golden Birds Beauty Pageantry Inc are as follows;
- Ensure that we place adverts in local and national newspapers and magazines as well as on radio and television stations to create awareness about our beauty pageantry business.
- Install bill boards in various strategic locations all around Los Angeles – California in a bid to create awareness about our business.
- Distribute handbills and fliers in school campuses and other places where our target market are most likely to congregate.
- Use social media platforms such as Facebook, Twitter, Instagram, Snapchat and other mediums in publicizing our business.
- Participate in and sponsor relevant local community programs.
- Position flexi banners in strategic areas so as to increase awareness about our beauty pageant business.
12. Our Pricing Strategy
Determining the rates that we would set for our competition in order not to scare away prospective candidates is very vital, while we are determined to run a standard organization, we would not set prices that would allow us look like an elitist or a populist organization.
We would take several factors into consideration when running our business such as our overhead factors, our running costs, our location, the kind of pageants we would be involved in as well as what our competitors in the same location, offering same services would be offering the target market.
Due to the fact that we are a new organization and in a bid to attract as many people as we can to our organization, we intend to sell discounted forms for the first two pageantries which we would hold. We are doing this in an effort to also increase awareness about our beauty pageants.
While lowering the rates and still running a standard practice might be hurtful to our business i.e allowing us to generate less revenue than we should have; we would however not be running at a loss during these periods as well, as we have carried out a thorough analysis on how we would recoup our investment.
- Payment Options
Due to the various people that will be willing to participate in our beauty pageants, we intend to roll out various payment policies that will be very convenient for all our intending customers and their various preferences. Therefore the payment options that we intend to make available for all our intending participants are;
- Payment via cash
- Payment via Point of Sale (POS) Machine
- Payment via online payment portal
- Payment via credit card
- Payment via bank draft
- Payment via check
The above payment options were carefully chosen by us to ease payment convenience for our various clients and participants as well as for our organization, and we will ensure that these payment plans have no hitches whatsoever.
13. Startup Expenditure (Budget)
Starting a beauty pageant might seem like easy business but if one intends to run a standard beauty pageant organization, there are certain things that one is expected to spend the bulk of one’s capital on. Some of the things one is expected to use the capital on when starting a beauty pageant includes, paying salaries of employees and utility bills, getting an official vehicle and leasing a facility.
The key areas where we intend to spend our start-up capital on are;
- Fee for registering our beauty pageant business in the United States of America – $750
- Obtaining of necessary licenses and permits as well as well as accounting and other legal services – $2,250
- Cost of hiring a business consultant – $3,000
- Insurance coverage (General liability, worker’s compensation) – $3,000
- Marketing and publicity expenses for the grand opening of Golden Bird Beauty Pageant Inc as well as for general marketing activities – $15,000
- Leasing of an office facility for a period of two years and also carrying out renovations – $50,000
- Operational cost for one year (salaries of employees as well as payment of utility bills) – $180,000
- Other start-up expenses (stationeries, phone and utility deposits) – $3,000
- Administrative expenses (furniture, phones, computers, printers and fax machines) – $7,000
- Cost of purchasing official cars – $20,000
- Cost of launching an interactive and user friendly website – $1,000
- Cost of throwing a grand opening party – $5,000
- Miscellaneous – $10,000
From the above analysis, we would need the sum of $300,000 to be able to start up and run a standard and successful beauty pageant competition here in Los Angeles – California. It should be noted that the bulk of the capital would be used to lease a facility for two years, get official cars for use, publicize the business as well as pay the salaries of employees and utility bills for a defined period of time.
Generating Funding / Startup Capital for Golden Birds Pageantry Business
Golden Birds Beauty pageant Inc is a business that is owned and run by entrepreneur and businessman, Mr. Eric Trump. Due to the fact that Mr. Trump intends to make his beauty pageant one of international standard, he intends to seek external investors whilst sourcing for capital for his business.
The major areas where we therefore intend to generate our start-up capital from are;
- Sale of stock or personal property
- Apply for loan from the bank
- Seek part capital from external investors
N.B: We have been able to generate the sum of $100,000 from sale of personal property and stock. We applied for a loan of $100,000 from the bank to be repaid in 10 years at a 7% interest rate.
All the necessary documents for the loan has been signed and approved and according to the management, our business account will be credited before the end of the work week. We sought for and applied for a loan of $100,000 from an external investor in exchange for 3% equity of capital.
14. Sustainability and Expansion Strategy
The future of our business depends on the several factors that will allow for the sustainability and growth of our business. Therefore the factors that we will rely on to sustain and expand our business include; our business structure, our publicity strategy as well as our location and reinvestment strategy.
One of the factors that we intend to rely on and take seriously is our business structure. We will do all we can to ensure that we employ the right hands to manage our business and take it to the intended heights we desire.
We will ensure that the management staff we pick to help run our business not only have the experience and expertise but are fully aligned to our corporate philosophies and values and are committed and dedicated to ensuring that we are able to attain our goals and objectives.
We intend to pay our employees well and offer them a welfare package that is better than what our competitors are offering their employees. We will also make sure that our employees always undergo trainings that will make our organization keep up with changing industry trends.
Beauty pageants thrive on publicity and as such we intend going the extra mile to ensure that we get a brand consultant who understands the industry thoroughly to draft publicity strategies that will not only boost the image of our company positively and communicate our brand but also generate the needed awareness and revenue for our organization.
Ensuring that our business is located in the right location will aid us get and attract the right number of participants we want to get interested in our pageants. In order to ensure that our business expands to the level we want, we intend to re-invest a portion of our earnings right back into our business so that we can grow to become the national force we intend for our business.
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Conducting feasibility studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Marketing/Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party/launching party planning: In Progress
- Establishing business relationship with vendors – wholesale suppliers/merchants: In Progress
- Purchase of trucks: Completed