Global Young Innovators Initiative
Tesla Wedding Makeup Business
It is our mission to help enrich the lives of people outside of our region by seeking solutions to 3 developmental problems faced by one business in a Nigerian community. In doing so, we hope to help one Wedding Makeup business provide jobs and services to those who need it for many years to come.
Specifically, we are interested in creating a financial management plan, increasing visibility for this brand and making the wedding makeup services more accessible and affordable for those who need and want to utilize them.
We hope to work closely with Leadership Initiatives as well as Global Young Innovators Initiative to accomplish our goals in an efficient, effective and everlasting manner.
We are eager to rise to the challenge and formulate smart solutions that will impact our business partner, her family and her community in a positive way.
We firmly believe that improving this one business will have a ripple effect by stimulating the economy and helping improve money flow, and we are extremely thankful for the opportunity to be apart of such an important moment in people’s lives.
See how each day at the summit we are gaining new skills to assist our business partner and transform lives.
Our Global Young Innovators Initiative Business Partner
Wedding Makeup Business
Wedding Makeup Business Statistics
- Business Type:Makeup Beauty Business
- Business Owner:Rita Michael
- Location:Shagari Shopping Complex, New GRA Bauchi, Bauchi State- Nigeria
- Business Production Capacity:3-5 wedding/ event make-up a month
- Number of People Employed:1
- People Directly Benefiting from the Business: 3
- Employees’ Children who are attending school:2
- Ideas on new makeup methods, designs and cosmetics.
- Ideas on providing beter customer service.
- Financial management methods.
Story of the Business:
Rita began the make-up business as an undergraduate in university. She had always loved to make people look nice. She started out by simply preparing her friends for class, parties, weddings and other events. She was inspired when she read about a female Nigerian business tycoon Tara Fela-durotoye, who is currently making millions from the beauty industry she started just by making up friends, in a magazine. In 2013, Rita officially turned her knack into a business. Rita Michael is a 24 year old graduate. She is the first born of her family. She has always been a very creative young lady and her creativity has given her an advantage in her business. She has been able to glamorize quite a number of brides for their weddings and has even travelled to neighbouring states for other brides. Rita is a very driven young lady and her great and distinctive touch has given her several business referrals from her old clients.
Rita has been able to train others and some young friends in the same business, and has been able to help with the education of two of her siblings.
How We Are Transforming Wedding Makeup Business
And Changing The World
At the beginning of the week Rita, the owner of Beauty Zone, informed us of a few problems her business faced. The first problem facing Rita was her budget, as she spends 19,000 Nara a month on makeup. This is a large sum of money and obviously a terrible inconvenience to any small business. We resolved this issue by recommending Rita replace her most expensive makeup brand, MAC, with less expensive options.
She also needed help developing a pricing system for her work. This problem was solved by one of our valuable team members, Ben Lopez, who has experience in entrepreneurship. Mr. Lopez assessed all of Rita’s finances and created an efficient plan for her, which lowers her costs by 48 percent monthly and 43 percent yearly. Rita also had another financial issue: costumers would often be unable or unwilling to pay the full price of Rita’s services and so she would be forced to accept less compensation than she deserved. This is resolved by our plan to offer different priced makeup packages, allowing clients who could not pay high prices to select some less expensive options.
Rita’s last issue involves her business’ advertisement campaign. Rita already has T-shirts, but they only state the name of her company, Beauty Zone. Our team members Hannah McGuire and Donovan Lopez collaborated to design new shirts which include Beauty Zone’s phone number, address, and the new Beauty Zone logo. Rita also had previously run out of flyers, we therefor suggested she use part of the money allowed in her budget for the printing of new flyers. Another advertisement solution that we have discussed with Rita is creating Facebook and Instagram that are specifically for her business. Makeup is currently very popular in social media and is a great way to gain more business. Throughout this past week our team has worked collaboratively to address each of the problems Rita was facing.