Brands/Products
Things to Consider When Setting Up A Make-Up Business
By Adedapo Adesanya
The beauty industry is one of the most promising and profitable enterprises for any one to invest their money in, especially in a country like Nigeria where there is a litany of events from weddings to birthdays to funerals and others.
It is also a business that has many uses and not majorly for entertainment or ceremonial functions. Other opportunities include makeup for films and TV, for music videos, stage plays, television shows and advertisements and making models up to create specific impressions on the runaway.
But before starting this profitable venture, there are some things you must consider or else, you might not be able to achieve any meaningful thing from the business. These key items are highlighted below:
Skill
This is the most important thing for a make up artiste to have. It is considered an art, and in the instance that the person who wants to start the make up business has no skill, but possesses passion, the first step will be skill acquisition for the aspiring make up artist.
Acquiring a wide range of skill can be done through many outlets. It may involve training as an apprentice under a professional or even acquiring the skill by volunteering as an intern in a reputable make up studio.
Nowadays, the Nigerian government has created several skill acquisition and empowerment programmes to it makes it possible for anyone to learn at a lesser cost or none at all.
According to the specialists contacted by Business Post, they recommend that the best way to learn the art of make up would be to serve as an apprentice under a professional. This, they echoed, will make them see first hand how it is done and also, in the instance of offsite jobs, they get to learn other areas of make up such as bridal makeover and model makeover.
Capital
With the skill acquired, entry into the make-up business requires money and considering the major tools used by make up artists, a standard capital for establishing a make up business is N100,000, which will be mostly spent on acquiring quality makeup kits. With the necessary capital acquired, the make up artiste may not really need a studio yet because at the beginning, he or she can always always work from home and as time goes on with the business expanding, a studio can be acquired later on.
But in the instance of availability of funds to rent a studio, he or she might rent a small space. With shop prices going for a low as N5,000 per month, a fair rent price for a year including agent agreement and other fees settled may culminate at N150,000, and adding the makeup equipment, this may extend to a standard capital of N250,000.
Studio
Setting up a lucrative make up business may involve the practitioner to own a studio or not, but having a studio is a plus because this allows the customers a physical location to visit and it adds a kind professionalism to the business. The studio is where the make up artist receives their clientele, train their apprentices, and handle other businesses.
Location
In the instance that the make up artiste has a studio, it is advisable that it should be located where it can be seen and reached with ease.
Make-up Tools and Uses
Makeup equipment for starting up a makeup business are the tools that the artist makes use of, they exist in various price ranges but for the entrepreneur willing to set up from scratch, the equipment and their prices have been adjusted to prices set following the Trade Fair market price, where a large cosmetic market is located and purchases can be made by the make up artist.
Brush Set: Used to lay foundations and apply concealers – N5,000.
Foundations: In several shades, used on the face to the tone of the clients body before proceeding to apply powder (at least five shades) at N1,500 per shade × 5 – N7,500.
Powder palettes: Matches the skin to correcting any skin issues the client may be concerned about – N6,000.
Eye shadow palettes: Different colours applied on the eyelids and under the eyes. It is commonly used to make the client’s eyes stand out or look more attractive – N3,000.
Face primer: This is a base for foundation or face makeup that allows it to go on smoother and also last longer. – N2,000.
Eyeshadow primer: It helps eye-shadow stay put and creates long- lasting vibrant color. – N1,500.
Many shades of lipsticks: Particularly red, nude, pink and purple: applied on the lips – N2,000 for a pack.
Bronzers: Used to darken areas of the skin without masking it, or to add warmth. Used to make the client’s skin look radiant and healthy – N1,500.
Blush: For coloring the cheeks in varying shades – N1,000.
Concealer palette for different shade types: Used to mask dark circles, age spots, and other small blemishes visible on the skin. It is similar to foundation, but thicker and used to hide different pigments by blending the imperfection into the surrounding skin tone – N1,000.
Set of Lashes: Artificial lashes used to beautify the face – N1,000 (for a set of eight lashes).
Lash glue: For holding the eye lashes in place. – N500 (per tube).
Contour palette: To shape the face – N1,000.
Face wipes: For wiping off dirt and make up – N500.
Eye, Brow and Lip Pencils: For shaping the brows and lips to desired structure – N1,000.
Mascara: Used to enhance the eyelashes. It may darken, thicken, lengthen, and/or define the eyelashes – N500.
Setting powder: Helps to keep your makeup in place all day long. – N2,000.
Setting spray: To keep makeup in place for hours at a time. – N1,000.
Glitters /Pigments: Used in special cases to make faces look shiny – N2,000.
Makeup Bag: This is where all make up equipment are kept, it must be spacious and long lasting – N15,000.
Cape: used to cover the client’s body when the make up artist is working – N1,000 (full-length)
Ring Light (optional): used to lighten the face of the client for photographic effect purposes – N7,000.
Foldable Makeup Chair – N36,000
Total = N99,000.
Marketing/Advertising
With the capital utilised to set up the studio and the make-up equipment acquired. It is important to get customers and the beauty industry is a very competitive space. Hence, the make up artist needs to think a step ahead.
The Internet is a very affordable advertising space. With social network platforms like Instagram, Twitter, and Facebook, the brand can reach others. Marketing can also be done by offering free makeup to people of influence who can then spread the word. Also, the make-up artist can start by posting pictures of her jobs on social media platforms and tags friends to help spread the images.
Registering the Company
It is important for a makeup artist to register the business to give it a corporate look. This can be done for less than N20,000 with the Corporate Affairs Commission (CAC). Doing this will help the practitioner open a corporate account for corporate jobs.
Carving A Niche in the Make up Business
For every make up artiste in the business, it is important to create something different from what others do. To render the service in a way that gives him or her a comparative advantage against competitors. This helps retain customers and expand the business.
If you require further information, feel free to use the comment section below this article. We will get experts in the industry to give adequate answers to your questions.
By Aduragbemi Omiyale
An institutional investor, First Ally Capital, has strengthened a leading Nigerian financial technology company, Mathesis Analytics, to scale its proprietary credit decisioning infrastructure.
It made this possible by injecting fresh capital into the firm, which specialises in AI-powered credit decisioning infrastructure, an action that will directly support the growth and scaling of Mathesis’ core mission of providing the intelligence and infrastructure needed to bridge the credit gap for millions of unscored or underscored individuals across Nigeria.
With this investment, Mathesis will enable financial institutions to confidently assess and extend credit to borrowers who lack a formal credit history by leveraging an expanded pool of alternative behavioural and transactional data.
To date, Mathesis’ systems have supported more than 8 million loans for over 2 million unique borrowers in Nigeria, and the company is actively deploying its infrastructure to establish a growing pan-African footprint.
With the investment from First Ally Capital, Mathesis is well positioned to transform how the credit ecosystem operates, driving financial inclusion in partnership with lenders across the continent.
A significant barrier to credit access in Nigeria, which prides itself on being Africa’s largest economy, is data fragmentation. Borrowers frequently build positive financial behaviours across multiple digital platforms by repaying microfinance loans, saving through fintech wallets, or servicing Buy Now, Pay Later (BNPL) facilities.
However, under traditional credit infrastructure, these achievements remain invisible to new lenders.
Mathesis addresses this challenge through the concept of Personal Equity—the quantified expression of an individual’s financial behaviour aggregated across every institution with which they have transacted.
By translating these disparate signals into a precise, portable measure of creditworthiness, Mathesis creates a comprehensive credit identity that reflects the full breadth of a person’s financial life.
“True financial inclusion cannot be achieved in a vacuum; it requires structural collaboration in which lenders and fintech companies work as partners within the ecosystem.
“This investment from First Ally Capital validates our approach to reshaping credit infrastructure. By quantifying Personal Equity, we empower lenders to safely look beyond the constraints of formal credit histories and recognise a borrower’s true creditworthiness. This capital enables us to accelerate our pan-African expansion while maintaining the robust, institutional-grade infrastructure our partners rely on,” the chief executive of Mathesis Analytics, Winston Osuchukwu, stated.
On his part, the chief executive of First Ally Capital, Mr Ebenezer Olufowose, said, “At First Ally Capital, we pride ourselves on being a one-stop destination for financial solutions, offering a diverse portfolio of services ranging from investment banking and asset management to trusteeship, inclusive banking, and real estate.
“Our investment in Mathesis Analytics reflects our strong belief in the company’s vision and our commitment to supporting forward-thinking enterprises that deliver excellence.”
By Aduragbemi Omiyale
The chief executive of Canal+ Africa, Mr David Mignot, has disclosed that MultiChoice is now fully integrated into the media group.
Mr Mignot disclosed this via a statement issued on Thursday, noting that this development marks a new phase in the evolution of one of Africa’s leading pay television operators.
He noted that the integration positions MultiChoice within a global media organisation with an extensive international footprint.
“MultiChoice is now a full subsidiary of a truly international media group operating in 70 countries. The group was founded in France, is listed in London and Johannesburg, and has a strong African presence with operations in more than 45 countries,” Mr Mignot said.
The statement underscores the scale of the combined business, highlighting Canal+’s global reach alongside its significant investments across Africa.
The completion of the transaction is expected to strengthen MultiChoice’s position in the African media and entertainment market by giving it access to the broader resources, expertise and international capabilities of the Canal+ Group, while reinforcing the group’s commitment to the continent.
MultiChoice operates across sub-Saharan Africa through platforms including DStv and GOtv, serving millions of subscribers with entertainment, sports and news content.
By Adedapo Adesanya
FoodCourt, a Nigerian cloud kitchen startup backed by Y Combinator, has suspended operations after months of unpaid salaries and mounting debts to vendors triggered a staff strike and forced the company to halt customer orders, according to a report by TechCabal.
The publication reported that customers first noticed on March 4 that they could no longer place orders through the FoodCourt app after the company disabled ordering as kitchen workers, delivery personnel and branch staff embarked on strike over unpaid wages. The company also owed outstanding payments to vendors.
By April 19, FoodCourt had temporarily shut its last operating branch after suspending activities across its Lagos and Abuja locations while seeking fresh funding and restructuring the business, according to the report.
The company’s chief executive, Mr Henry Nneji, said the decision to pause operations was not caused by a single issue but by a combination of operational, organisational and working-capital challenges.
“It’s important to clarify that the decision to pause operations wasn’t driven by one single issue. We reached a point where it became clear that continuing to patch those issues while operating wasn’t the right long-term decision,” he said.
“The objective is to build a stronger business than the one that existed before the suspension. We fully intend to bring FoodCourt back,” he added in an emailed response.
The company acknowledged outstanding obligations to employees, vendors, riders and service providers, but declined to disclose the number of affected workers or the total amount owed. It said efforts were underway to resolve the liabilities as part of its restructuring process.
It was also reported that the startup’s financial difficulties worsened after expansion into additional locations increased operating costs, while its cloud kitchen model came under pressure from rising labour, logistics, food and marketing expenses.
Despite the shutdown, Mr Nneji said FoodCourt intends to relaunch after completing its restructuring, adding that the company believes demand for its products remains strong.
Founded in 2021 by Henry Nneji and Paul Adokiye Iruene, FoodCourt operates cloud kitchens under multiple virtual restaurant brands through its consumer app. According to TechCabal, the startup had previously disclosed raising $1.7 million, delivering more than one million meals and reaching $4.3 million in annual recurring revenue by the end of 2024.
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