STYLING SERVICE FOR MEDIA INDUSTRY

CO

NTE

NTS

1.0 Executive Summary

2.0 Business summary

3.0 Company structure

4.0 Market Research & Analysis

5.0 Service plan

6.0 Marketing plan

7.0 Financial plan

8.0 Brand identification

9.0 Interview

10.0 Appendix

Studio 1.0 Executive Summary

“ I don’t know if it’s a movement, but the only thing new that’s happening is that I think

music and art and video and fashion are all kind of thrown into one big ball that’s on televi-

sion, and people see that all the time - you see a fusion of all those things. ”

— Stephen Sprouse

Are you fascinated by what Carrie Bradshaw wears in “Sex and the City”? Does “Mad Men” make you remind the fashion of the early 1960s? Have you ever tried to buy clothes with sequins like Lady Gaga? Those above are the best examples to describe how does media industry influence the fashion trends. Styling is an art of expression the uniqueness and creativity and to create a fashion trend and personal image. The evidence of successful styling is Patricia Field, the stylist of Sex and the City and The Devil Wears Prada, who brings out numerous fabulous fashion trends that every one are amazed by her works. Fashion styling is more advanced in terms of their mature fashion industry but this is not the case in Taiwan where the Taiwanese styling market is small and people just start to pay more attention on fashion styling via media broad-cast. Mallory Hsu Studio is a comprehensive styling studio providing professional ser-vices from total image consulting to event styling for media industry.

Studio 2.0 Business summary

2.1 Business Description2.2 Mission Statement

2.3 Vision Statement2.4 Objectives & Goals

2.5 Key Success Factors

Mallory Hsu Studio is located in Taipei City, which is a styling busi-ness with a professional team including wardrobe stylists, makeup artists, and hair stylists, and focuses on cooperating with media industry such as TV stations, production team, fashion magazines, and celebrities. We pro-vide multiple and distinctive styling services which particularly concentrate on mass media market, such as styling for fashion magazines, TV pro-grams, music videos, styling for celebrities, special events (fashion shows, ceremonies, and awards) and also image consulting, wardrobe revamping, and personal shopping.

Mallory Hsu Studio’s goals are to develop our client’s style and re-invent and help them to create their personal images to impress audiences. Mal-lory Hsu Studio employs the most professional team of fashion stylists, hair stylists, and makeup artists who are well educated in the fashion and beauty industry. Therefore, the team of Mallory Hsu Studio can offer the best fashion advice, and makeover services.

2.1 Business Description

Mallory Hsu Studio is an exclusive styling business for the media industry located in Taipei, Taiwan. The mission is to provide its clients with innovative ideas and services with an underlying understanding of target market in Taipei, Taiwan and help them to achieve their professional suc-cess.

2.2 Mission Statement 2.3 Vision Statement

Within the next five years, Mallory Hsu Studio will become a fully developed styling business in Taiwan and Asian countries and we will focus on the media and entertainment industries by providing superior styling services to clients. We will achieve our mission state-ment by brainstorming with our team and con-sulting regularly with our customers to provide the most appropriate yet innovative consulta-tions for each of our clients.

Establish a comprehensive and professional styling team for the media industry

Extend our services from TV programs, magazines to individual clients, such as

Taiwanese celebrities to Asian celebrities (from local to Asia).

Retain customer loyalty and increase the number of potential customers each year

Build up more connections with people who work in styling and media industries

Raise awareness of the importance of styling for each individual

Strive to become one of the top 5 of styling businesses in Taiwan

2.4 Objectives & Goals

2.5 Key Success Factors

New business model — Mallory Hsu Studio is the first styling team combining stylist, hair stylist,

and makeup artist together and only geared at the media industry.

Fashion professionals— Mallory Hsu Studio includes an expert styling group with fashion stylists,

makeup artists, and hair stylists to instruct our clients. Mallory Hsu will also train and educate our

staff with updated skills annually.

Focus— Since Mallory Hsu Studio’s target customer are those in the media and entertainment

industries, we feel that this focus will enable us to stand our over other competitors.

Limited business risk— Mallory Hsu Studio’s risk and assets will be minimized as we have no

inventory to purchase and our operations but will be strongly dependent upon our wages and freelancers.

Studio 3.0 Company Structure

3.1 philosophy

3.2 location

3.3 ownership

3.4 organization chart

3.1 Philosophy

As the rapidly developing economy and the growth of fashion industry in Taiwan, people start to pay more attention to their personal images and try to get fashion information from social media.

Mallory Hsu Studio believes that one excellent styling work reflects an influence of fashion trend. People remember the trend. People follow the trend. People create the trend. Mallory Hsu Studio will be the one to make the influence happened. We will involve a dedicated expert team and spe-cialist to focus and recommend the best styling work for our target clients. Mallory Hsu studio hopes to build long-term relationships with our clients and create a fashion impact to Taiwanese market. Mallory Hsu Studio will bring the new perceptions of fashion styling into Taiwanese styling envi-ronment. In addition, we plan to project a professional styling team to our clients. We expect the consumers will be satisfied with this new business cooperation type by Mallory Hsu Studio.

” Fashion is a tool... to compete in life outside the home. People like you better, without knowing why, because people always react well to

a person they like the looks of. “ — Mary Quant

3.2 Location

Mallory Hsu Studio will be located in Song-shan district, Taipei City, Taiwan where is near the TV sta-tions and it’s at the center area of Taipei City in Taiwan. The map below is the center of Taipei City, which covers the area of Song-shan district, and there are plenty of MRT stations around there. As it is convenient for transportation, there are two main TV stations located in the area and it is also closed to main shopping area where are tons of retail stores, department stores, and fashion businesses sited there that we can buy and borrow the clothes, accessories, and other fashion items easily. Hence, the location is definitely the best choice for Mallory Hsu Studio.

Graph3.2.1— Maps of Taiwan / Taipei City

Source: Go2Taiwan.com / Bureau of Energy

Graph3.2.2—Location Map

Source: Google Map

Address: Lane 366, Section 2, Bade Rd, Song-shan District, Taipei City, Taiwan 105

Total: 720 sq. ftRent: $1,000 per month

3.2 Ownership

Mallory Hsu Studio will be oper-ated as a sole proprietorship. In order to build our business methodically and sys-tematically we feel that this type of busi-ness ownership is appropriate for Mallory Hsu Studio.

Mallory Hsu will own and manage the business as the position of Executive Officer (CEO) and she is responsible for company’s strategies and operations. Furthermore, she will investigate other av-enues of growth as part of her long-term strategy.

The table 3.3.1 shows the company organization chart. Please note that the studio will employ part-time professionals on free-lance basis.

Freelancers will be hired for per-project basis in order to keep overhead low. Freelancers will be employed when there are various events holding in specific month, such as January and February for Chinese New Year, June for Golden Melody Awards, October for Golden Bell Awards, December for Golden Horse Awards, Christmas, and New Year.

3.3 Organization Chart

Table 3.3.1

Studio 4.0 Market Research & Analysis

4.1 country profile

4.2 industry analysis

4.3 target market analysis

4.4 swot analysis

4.5 competitor analysis

4.6 competitive advantage

4.1 Country Profile

4.1.1 Geograohy

4.1.1 Population

Taiwan is the largest island of the Republic of China (ROC) in East Asia, which is located 100 miles across the Taiwan Strait from Mainland China. The total land area of Taiwan is 36,189 square kilometers (about 14.000 square miles). It has been com-prised of various cultures from Japan, Korea, Mainland China and Western influences.

Population: 23.1 million (March 2010) Annual population growth rate (2009): 0.23%Age Structure: 0-14 years: 16.7% (male 1,996,905/female 1,844,611) 15-64 years: 72.6% (male 8,416,300/female 8,267,675) 65 years and over: 10.7% (male 1,183,382/female 1,265,474) Work force (August 2009): 10.96 million

4.2 Industry Analysis

4.2.1 Economy of Taiwan

There are 23 cities and counties in Taiwan. According to the six-year survey research from Direc-torate-General of Budget, Accounting and Statistics of Taiwan, the latest forecast of GDP growth rate in 2011 is 5.04%. From 2005 to 2007, the average GDP slowly rose from 4.70% to 5.98%. However, the GDP suddenly took a downturn and went to 0.73 and -1.93 in 2008 and 2009 because of the global economic recession. The economy began to recover from last year (2010), the growth rate of country’s GDP rose to 10.88%.

Table 4.2.1

GDP ANALYSIS

- 2005 to 2011 Source: Directorate-Gen-eral of Budget, Accounting and Statistics of Taiwan

GDP (PPP) US $ BilIion

GDP – Real Growth Rate

GDP – Per Capital(US$)

2005 364,832 4.70% 16,0512006 376,375 5.44% 16,4912007 393,134 5.98% 17,1542008 400,132 0.73% 17,3992009 377,410 -1.93% 16,3532010 430,096 10.88% 18,5882011(f) 470,322 4.56% 20,288

In addition, the economy of China has softened up because of the rising salary and wage base that occurs when countries increase their middle class, the debt problems in Europe, and the earthquakes in Japan have influenced the economy worldwide.

The economic states in 2011 are unsure from TIER report. Although the impact above has al-ready occurred, the overall indicators are in flux currently. However, overall growth should be higher in 2012 as the global economies begin to stabilize. Global Insight projects that the Tai-wanese economy will grow to 4.7%. Economists estimate the average GDP of Taiwan to grow at 4.3%. In general, the economy of Taiwan will quietly become better and more stable.

According to data, it shows that the Taiwanese economy is moving towards recovery. This is a good timely opportunity for Mallory Hsu Studio to launch a new business in Taipei, Taiwan.

TA I WA N

TAIWAN

4.2.2 State of Media Industry

Based on the data of Department of Budget, Accounting and Statistics, Taipei City Government, the number of the information and communication industry rose from 6,482 to 6,518 companies and the revenue was dropped from NT$530,564 million dollars(US$17,685 million) to NT$527,552 million dollars(US$ 17,585 million.) As for the art, entertain-ment and recreation industry, the companies grew from 2,642 to 2689 units and revenue increased from NT$21,644 million dollars(US$0.72 million)to NT$24,344 million dollars(US$0.81million) from 2008 to 2009.

From the data (2008 to 2010 ), the numbers from each industry are rising, however, only the arts and entertainment industry growing in revenue. It shows that the investment in art and media industries from Taiwanese government has increased each year. It is as though the arts, entertainment and recreation industry is growing in volume at the expense of the information and the communications industry; there are more players in the information and commu-nication industry with fewer sales between them.

Table 4.2.2

TheGrowth ofMediaIndustry

2008-2010

Information & Commu-nication Industry

Art, entertainment & recreation Industry

Unit Revenue (US$Million) Unit Revenue

(US$Million)

2008 6,482 17,685 2,642 0.722009 6,518 17,585 2,689 0.812010 6,760 19,253 2,801 0.77

Source: Department of Budget, Accounting and Statistics, Taipei City Government

4.2.3 Television Industry

There are four main TV companies: China Television Company (CTV), Chinese Television Sys-tem (CTS), Taiwan Television Enterprise, Ltd. (TTV), and Formosa TV (FTV) which are the major-ity players in the media industry. Four of them are wireless TV stations which account for large parts of the TV audiences. The TV stations usually cooperate with other cable TV stations for TV shows and TV episodes.

The wireless TV stations center on broadcasting TV episodes at 8-10pm from Monday to Friday and variety shows are broadcast on the weekend mostly. However, the productions are staged and produced during the week.

Non-drama: 50.83% (including entertain-ment 17.77%, Information 20.02%, Traveling 1.47%, Cartoon 6.94%)

News programs: 15.05%

TV episodes: 33.81%

Education/Culture: 0.31%

Source:TIER, Taiwan

Chart 4.2.3 The Percentage of TV Category from Wireless TV Stations

15.05%

33.81%0.31%

50.83%

On the other hand, there are more multiple channels and programs from cable TV stations, such as movie channels, sports channels, news channels, travel chan-nels, and general channels. The general channels are more focused on variety shows, reality shows, and TV episodes.

Due to the research, TV episodes and entertainment shows are becoming more popular in Taiwan. From 2007 to 2009, Taiwanese TV episodes are ranked as the highest broadcast in Asian countries. Because of increasing TV rating power and influences from Korea and Japan, TV audiences prefer few but more dramatic TV programs. More TV shows especially focus on fash-ion trends, styling, hair, and makeup. Fashion styling has become more visible and important over the past decade in Taiwan. The fashion styling of Taiwanese art-ists are recognized and focused by audiences.

In order to differentiate themselves and develop a unique fashion sense, celebrities will hire their private stylists to obtain the newest fashion information.

Source:The Database of Taiwan TV, Cinema, and Music

4.2.4 TV Programs

Table4.2.4

Fashion/BeautyTV ShowsAnalysis

Source:National Digi-tal Library of These and Dissertations in Taiwan

Channel Name

Program Name Host Content

TVBS-G QueenXin-mei

Lan

fashion trends, beauty care, fash-ion styling, weight-loss care, hair styles, healthy diet

Channel [V]

In House Jia-yi Lu

fashion trends, beauty care, fashion styling, hair styles, fashion events

TVBS-G Fashion Deluxe

Zheng-hua Sun

fashion shows, fashion trends, in-terviews of fashion designers, and styl-ists, fashion events

The content of fashion and beauty TV shows in Taiwan are designed to appeal to different themes of fashion information for both male and female audiences including fashion trends, styling, hair styles, makeup beauty, fashion events, and so on. According to the latest issue of E-ICP Eastern Integrated Consumer Pro-file survey, about 8.2% of female consumers indicate they watch fashion and beauty TV programs regularly and try to get fashion information from this type of program. These types of TV programs are growing in popularity indicating that Taiwanese audiences have greater interest in fashion-related issues.

4.3 Target Market Analysis

There are many TV programs in Taiwan and some of them are singing competi-tion shows. The style of participants in the shows is also considered in the evaluation of competition. The participants have to dress themselves or hire their own stylists. We believe this is a good opportunity for Mallory Hsu Studio to enter the styling in-dustry. Mallory Hsu Studio seeks to partner with TV companies and production compa-nies in Taipei Taiwan. Mallory Hsu Studio is interested in collaborating with media such as TV shows, TV episodes, magazines, and celebrities that want and need to build a strong visual images and identity when they are seen both on stage and off-stage.

4.3.1 Potentail Market

4.3.1 Primary Target Market

Geographic – Most of TV companies are located in Taipei, Taiwan. There are four main TV companies: China Television Company (CTV) in Nan-gang district, Chinese Television System (CTS) in Da-an district, Taiwan Television Enter-prise, Ltd. (TTV) in Song-shan district, and For-mosa TV (FTV) in Song-shan district which are the mainstream of mass media industry. Four of them are main wireless TV stations which take large parts of TV audiences. The TV stations usually cooperate with other cable TV stations for TV shows and TV episodes

Demographic – There are approximately 8,383 and 179,183 employees who work in entertainment and the media industry in Taipei City and they oc-cupy about 16% of all division industries.

TV producers are 30-60 years old male and femaleThey can be single or marriedAverage monthly income is from NT$ 25,284 to NT$ 59,377. The average amount of income is NT$ 42,330There are about 10-20 employees in each TV program

Psychographic – TV producers tend to be tightly organized, able to communicate clearly and suc-cinctly with everyone on and off the set, from actors to directors to writers to technical crew, and they must have a gift for thinking on their feet, ready to come up with creative ideas fast and under extraor-dinary time pressure. Television producers report high excitement and job satisfaction. These are implementers and problem-solvers that are project-oriented and love to see tangible results in spite the physical toll of the work.

_

_______________________________________Source: Directorate-General of Budget, Accounting and Statistics of Taiwan

4.3.2 Target Customer Profile

NAME: Wei-Chung WangAGE: 54Occupation: Senior TV ProducerLocation: Taipei, Taiwan

Wei is a senior TV producer for a large number of TV shows and is also a manager of a TV production company. The famous TV projects that he is currently involved in are “One Mil-lion Star”, “KangXi Lai Le”, “Guess Guess Guess” to name a few. His involvement is usually in the production and planning phase of the project. When shooting the program, he has to stand by the set and watch the shows going frequently and ensure that the performances are fun and entertaining. He works as an agent for famous celebri-ties and he is in charge of dealing with celebrities careers. He lives in Shin-yi district, Taipei City. A car is his trans-portation tool to work. He studied in Journalism Department in Taiwan and had an internship in TV stations. After graduating from college and finishing his military service, he entered the media industry 30 years ago. Usually he arrives at the designated TV station at 10 A.M., making sure of the schedule of each program, double-checking the hosts and guest speakers as they arrive to the set and briefing them of any changes and modifications that have occurred since they last spoke. There’s no specific time for him to go home after work; his hours are highly er-ratic. His favorite magazines are Global Views, Cheers, or any other books about business and lifestyle. Wei has a tight and busy schedule, but he loves the work and enjoys his life. In his leisure time, he prefers to stay home rather than going outside. Trying to come up with new ideas is his main focus because he always wants to bring new ideas or concepts to his TV programs. Sometimes, he is invited to talk shows sharing stories about his TV production career or is interviewed by magazine columns. He has great relationships with TV stations, production companies, and celebrities because of his job. Since he has been in the media industry for 30 years, he knows a lot about this industry. Therefore, he really focuses on presenting new, surprising and entertaining solutions to the public. He believes that audiences serve as his boss. His dream is to create a good show leaves an impression on its audiences.

4.3.2 Secondary Target Market

Secondary target markets are fashion and beauty TV shows or reality shows that may need a higher amount of stylists to attend on the shows and offer them fashion advice. The show “ Queen “ is the most popular fashion and beauty TV show in Taiwan. They always in-vite fashion stylists to be on the show and talk about the fashion trends, styling, and creating a good personal images. This is a potential market that Mallory Hsu Studio can enter into.

STRENGTHS

4.4 SWOT Analysis

Small business size: ability to respond quickly to clients

Experience: Mallory Hsu Studio has working experience and gathers all the professionals as a team

Personal shopper services for celebrities: This concept is new to Taiwan. Each professional is assigned to shop for celebrities.

Comprehensive styling services and fashion advice: Mal-lory Hsu Studio not only provides styling services but also educates the clients how to dress better for their personal image.

Self-promotion through Internet: Mallory Hsu Studio has an official website, blog, Facebook page, and Twitter ac-count so the clients can easily find Mallory Hsu Studio through social media and check the works of Mallory Hsu Studio.

New business with no reputation in the market: Mallory Hsu Studio is a new business in Taiwanese market that little people know about Mallory Hsu.

Limited target customers range: since Mallory Hsu Studio only provides services to media/ enter-tainment industries, not for the public, it eliminating some other customers.

Lack of knowledge and experience to Taiwanese market: even though Mallory Hsu Studio has experi-ence of styling industry in U.S., Mallory Hsu Studio has little knowledge about how the styling industry working with their partners.

Limited contacts in mass media industry: Mallory Hsu Studio is a new business and only has few con-nections to the industry

Stable connections with competitors: The mass media companies usually hire the competitors that they’ve worked with before, so they seldom change their partnerships with styling studios.

WEAKNESS

New contract policy: Since, there’s no formal con-tract between TV stations and styling studios. Mallory Hsu Studio can do partnerships with TV shows, maga-zines, and celebrities

Building reputation: The business can expand the reputation rapidly because of TV shows, celebrities, and magazines

Business extension: Mallory Hsu Studio can spread the business into different areas and countries through mass media and social media Low market demand: since the styling industry in

Taiwan is immature and also Mallory Hsu Studio only provides service to media industry, the target market is already exist and less possibility to extend.

Low barrier: Competitors could enter the market eas-ily as there are very low barriers to entry.

Immature market: The styling industry in Taiwan is still immature and pretty small. There’s no a specific job category for stylists.

Lack of knowledge about stylist: Taiwanese people often consider that stylists are doing hair or makeup, not for clothing. THREATS

OPPORTUNITIES

4.5 Competitior Analysis

CompetitorSUZUKAStyling Studio

LinLi Wedding

Joey ChengBeauty

Roger ChengMallory Hsu

Studio

Business Style

Personal styling Consultant

Wedding stylingCelebrity styling

Fashion Show Styling

Celebrity StylingStyling for media Industry

Service

Commercial StylingWedding StylingPersonal StylingMakeup/Styling ClassImage Consulting

Wedding de-signer CollectionBridal StylingCelebrity Styling

Complete Styling PlanningFashion Show StylingBridal StylingImage Consulting

Celebrity StylingCommercial StylingMagazine Styling

Celebrity StylingTV show StylingMagazine StylingCommercial StylingPersonal ShopperImage Consulting

Location Taipei City, TaiwanTaipei City,

TaiwanTaipei City, Taiwan

No StudioAvailable

Taipei City, Taiwan

Style Asian Fashion High Fashion High FashionTrendy/Basic

FashionTrendy/International

Fashion

Age Target

18-40 25-45 18-35 18-45 18-40

Price Range

Lower-High High Middle-High High Middle-High

Table 4.5.1 Competitor Overview

4.5.1 Competitors

[ Suzuka Styling Studio ]

http://www.suzuka.com.tw

Description: Suzuka styling studio has been in the styling business over 20 years. There are two main Japanese stylists. Gyokurei is the founder of Suzuka styling studio.She has been the makeup artist in Hollywood for 10 years. Suzuka styling studio has spread their business to Japan.

Strengths: Suzuka Styling Studio has over 20 years experiences and has spread its business to other country. The various styling services can take advantage of the clients from different fields and further to make more profit and value.

Weakness: They don't have clear target market range and the styling works they put on their website are out of date.

[ LinLi Wedding ]

http://www.linliwedding.com

Description: LinlLi is a well-known designer in Taiwan. She has been in the styling industry for over ten years and she has started her business of design studio first in 1987. Since 1987, LinLi has been styling entertainment artists and adding a unique element of style to the life of modern women. LinLi is highly respected in the makeup styling field because of professionalism and expertise, therefore, she has received high degree of praises from members in the media and fashion industry.

Strengths: LinLin has continued her professional service to the public by offering them overall style con-sultation that targets needs; from hairstyling, makeup to wardrobe selection, every detail is covered by her profes-sional service. LinLi Wedding uses plenty of social net-working, such as Facebook and blog. They update their newest information and works often and also provide new couples a platform to contact them and ask questions.

Weakness: LinLi Wedding focuses more on wedding styling and the design is mature; the prices are higher than others.

[ Joey Cheng Beauty ]

http://www.jcbbeauty.com

Description: His studio was established in 1989 in Taipei, Taiwan. Joey’s all-round styling services have earned him an excellent reputation in the world of fashion. Working with famous local and in-ternational designers, Joey creates highly appraised fashion shows and catalogues.

Strengths: They have more experience in coop-erating with media industry, such as fashion shows and magazines. Joey Cheng Beauty is a small busi-ness size so it's easy to control the financial plan

Weakness: They don't have detail information about their services or their target market.

[ Roger Cheng ]

No official website available

Description: Roger Cheng is a private stylist who has been in the styling industry over 20 years. He used to do styling work for celebrities from Hong Kong and Taiwan. Moreover, he was the host of a TV show called “Fashion Trend “ in Taiwan and now he is the judge of the hit TV show “ Million Star “ for his styling role. He also developed his fashion makeup line “ CITTA “ in Taiwan.

Strengths: He has over 20 years experiences working with celebrities. He is well-known in fashion and media industry.

Weakness: He doesn't have official website and no studio available. He provides fewer services and the price is high.

4.6 Competitive Advantage

Table 4.6.1 Com-petitive Analysis

CompetitorSUZUKAStyling Studio

LinLi Wedding

Joey ChengBeauty

Roger Cheng

Mallory HsuStudio

Price (5 highest to 1 lowest)

1 2 4 5 3

Service (5 highest to 1 lowest)

3 4 2 1 5

Variety (5 highest to 1 lowest)

5 4 2 1 3

Style (5 highest to 1 lowest)

1 2 3 5 4

Conve-nience (5 highest to 1 lowest)

3 5 1 2 4

Overall 13 17 12 14 20

Price: Depends on how many looks clients need. The fewer the looks the clients want, the less the expense for the customer. Service: The styling service of Mallory Hsu Studio is full package, which includes fashion stylist, hair stylist, and makeup artist together. Mallory Hsu Studio tries to achieve all the needs from clients as possible so the intake pre-meeting is important for customers and us. It depends on what clients require.

Variety: Mallory Hsu Studio offers both fashion and lifestyle styling. Fashion styling is for TV shows, ceremonies, and magazines. On the other hand, lifestyle styling is for commercial shootings or TV dramas.

Style: Mallory Hus Studio provides the latest trend styles from the U.S. and Europe and tries to mix these with Tai-wanese trends. Mallory Hsu is looking to present our brand as trendy and fashionable styles for clients.

Convenience: Mallory Hsu Studio only has a modest office for business contacts. Mallory Hsu Studio primarily goes out and does styling on location.

Chart 4.6.2 Competitive Analysis

 

According to the competitive analysis, Mallory Hsu Studio will have a professional styling team to offer the services on par with competi-tors. In addition, the company focuses on the media industry in Tai-wan, which is different from general styling studios. Also, the company has a strong network with some model agencies which will provide ongoing access to fashion styling professionals.

“ ”

Style is a simple way of saying complicated things. — Jean Cocteau

Studio 5.0 Service Plan

5.1 concept

5.2 image consulting

5.3 wardrobe revamping

5.4 personal shopping

5.5 personal styling

5.6 media cooperation

5.0 Concept

What is styling? Why does styling play an important role in our daily life? Have you ever had a moment that you have no idea what to wear? Have you ever wanted to dress like a celebrity or imitate what celebrities wear on TV? Styling is not just put-ting on tops and jeans but you have to be aware of the colors, patterns, designs from clothes. You also need to be aware of the message that you are transmitting by what you wear. Mallory Hsu Studio is a company that enriches a person’s style and image and ensures his/her visual style that is important to the TV appearance but also the celebrity’s appearance.

5.2 Image Consulting

Image consulting is to help people to develop the confidence of dressing themselves in style. People will understand more about their face and body shapes, personalities, and char-acteristics and be taught how to consistently dress more appropriately with fashion taste and gain confidence of their fashion sense. This will allow people to express themselves decently in a visual way. After all, we are all very visually oriented.

This service is exploring customer's current image, and to reveal:• Body and face shape • Style, personality, and taste• Image goals • Proper style of outfit

Table 5.2.1 Image Consulting Timeline

1 Hour Meeting with clients Identifing client's face and body shape

1 Hour Identifing client's style, personality, and taste

1 Hour Discussing about the image goals that achieve client's style

2 Hours

Suggesting the proper style of outfits that fit on clients

Determination of client's personal style

5.3 Wardrobe Revamping

Wardrobe Revamping is helping clients to understand and organize clients’ closet. Our professional representatives will discuss clients’ goals of their personal styles. The items from clients’ closet will be categorized as “wearable”, “ques-tionable”, and “un-wearable” and determine which items should be kept and which should go away.

The service is to solve the problems of wardrobe:• Review of current wardrobe• Organize into style zones and capsules• Identify unique personal style• Assess what styles and shapes are suitable• Suggest additional items

1 Hour Meeting with clients Reviewing of current wardrobe

1 Hour Organizing into style zones & capsules Categorizing the items

1 Hour Identifing unique personal style

1 Hour Assessing what styles and shapes are suitable Giving away the clothes which are unbearable

1 Hour Suggesting additional items Teaching fashion knowledge to client

Table 5.3.1 Wardrobe Revamping Timeline

Sometimes you don’t know what are you looking for or you don’t know what kind of outfit fits you well. Mallory Hsu Studio will shop with/for clients effectively based on clients’ budget, styles, and body types. Before the shopping trip, there is an intake meeting with clients to identity their needs and do the research of fashion styles that are appropriate for clients. The consulting plays an important role in per-sonal shopping services for our customers to attain their goals. Mallory Hsu Studio shops for individual customers (celebrities) and TV stations.

5.4 Personal Shopping

1 Hour Face to face meeting to identity client needs

1 Hour Doing the research of fashion styles that are ap-propriate for client

2 Hours

Shopping with/for client effectively based on cli-ent's budget, style, and body type Suggesting fashion advice to client

Table 5.4.1 Personal Shopping Timeline

5.5 Personal Styling

We provide the personal styling services to celebrities. We will have partnerships with artist agencies, model agencies and individual artists. The personal styling service is to help our clients with their personal images that are shown on TV, magazines, album releases, music videos, ceremonies, and so on. Mallory Hsu Studio will meet our clients to analyze the concepts they’re looking for and give them professional advice. After the meeting, our professionals will do the research of fashion trends and seek the best styles of clothing for our clients.

2 Hours

Meeting with clients Analyzing the concept the client required Giving professional advice

1 Hour Doing the research of fashion styles that are ap-propriate for client

3 Hours

Seeking for the ideal outfits Loaning/buying the clothes Styling for client

Table 5.5.1 Personal Styling Timeline

5.6 Media Cooperation

Mallory Hsu Studio will offer a full package of service including styling, doing makeup, and hair styling for maga-zine clients.

The service is:• Analyzing the current trend/style• Searching/finding/loaning the outfits• Doing the styling for shooting

5.6.1 Magazines

1 Hour Conference with magazine company Analyzing the concept the client required

1 Hour Contact with model agency Getting models' information

1 Hour

Doing the research of fashion trends and styles that are appropriate for client's need Seeking for the ideal outfits Loaning/buying the clothes

1 Hour Model fitting Choosing models

2 Hours Styling for client Doing makeup and hair styling

4 Hours Photoshooting Adjusting and changing the outfits

Table 5.6.1 Magazine Timeline

5.6.2 TV Shows According to the specific genre of TV shows, Mallory Hsu Studio will search for the outfits that are appropri-ate to each TV program. Mallory Hsu Studio will coop-erate with TV stations and production teams and offer them a full package of styling services.

The styling service that we provide will be geared to:• Variety shows• Realty shows• Fashion and beauty TV shows• TV episodes

1 Hour Conference with production team of TV program Analyzing and understanding the concept the cli-ent required

1 Hour Contact with artist agencies or individual artists Getting sizes information

3 Hours

Doing the research for outfits which are appropri-ate for client's need Asking for clothing sponsors and selecting clothes Loaning/buying the clothes

2 Hours Styling for client Doing makeup and hair styling

3 Hours Filming TV shows Adjusting and changing the outfits

Table 5.6.2 TV Shows Timeline

5.6.3 Special Events

Special events are important to our celebrity customers as they are look-ing to create a strong brand for themselves. Mallory Hsu Studio will assist our clients in finding the perfect suitable outfits to attend any event.

The styling service that we offer:• Analyzing the current trend/style• Searching/finding/loaning the outfits• Styling for the events

2 Hours Meeting with clients Analyzing the current trend / style

3 Hours Searching/finding/loaning the outfits

2 Hours Doing the styling for the events

Table 5.6.3Special Events Timeline

Studio 6.0 Marketing Plan

6.1 marketing objectives

5.2 marketing strategy

6.1 Marketing Objectives

As a new business model of styling company based on the media industry in Taiwan. Mal-lory Hsu Studio is branding to create the acceptance of a new styling studio for the media industry only and to develop our brand reputation. Mallory Hsu Studio understands the needs from potential customers and offers the services they want. Once Mallory Hsu Studio has established itself as a professional organization that provides incomparable services, cus-tomers will become increasingly loyal; our network is another key to success. Our business is strongly related to interpersonal relationships so we have to build good connections with our potential customers and partners, such as TV companies, magazines, production teams, and celebrities. After frequent partnerships and collaborating with business partners, our busi-ness will grow rapidly. Our goal is to create good partnerships with our target customers and expand the business to more fashion-related areas by offering more complete services for clients.

6.2 Marketing Strategy

6.2.1 Product Strategy

For Mallory Hsu Studio, the product indicates our distinctive services. As regards service strat-egy, Mallory Hsu Studio will insist on professional and creative styling works with personalized service for our market. Unlike general styling stu-dios, Mallory Hsu Studio focuses on each individ-ual client in the media industry; understands the client’s needs and wants, and will develop the best stylistic works to achieve their needs. In ad-dition, the owner, Mallory Hsu, has good sense of leading fashion and fashion trends from U.S. and Asia. She has numerous experiences of doing styling works in U.S. She knows how to combine western and Asian fashion styles into our busi-ness and introduces the high-level fashion styles and tastes to our clients. Also, in part of service segment, we provide a full package of styling services, including styling, hair, and makeup for clients which is different from general styling stu-dios. Our goal is to make our clients feel unique by offering our customized services.

Regarding price strategy, Mallory Hsu Studio will provide clients an affordable middle-high price level with high quality services, a price structure that is at or below competitors. Mallory Hsu expects to create outstanding works for each client with rea-sonable prices to satisfy the target market of TV stations and producers. Mallory Hsu Studio includes its own stylist, makeup artist, and hair stylist as a team that ensures con-sistency for clients.

6.2.2 Price Strategy

6.2.3 Place Strategy

Mallory Hsu Studio’s office is located in Song-shan district, Taipei City where is near the main client base in Taiwan. Taipei City is the central base of fashion and media indus-try professionals. According to the Department of Cultural Affairs Taipei City Government, the total of creative industry’s net sales in 2009 was US$171.5 billion, among US$102 billion came from Taipei City. It revealed that 59.46% of creative industry businesses’ revenues and transactions took place in Taipei City. Mallory Hsu Studio will also use multiple social net-works by creating a website, Facebook page, Twitter, and blog. Nowadays, people search fashion information not only from TV or magazines but also from the Internet. Social net-works, as we all know, are highly influential in our daily life. It was reported on November 15, 2011 that Disney paid $40 million for a blogging site called Babble Media, Inc. not to sell anything but to add content to their brand. Although this is not our target customer, it does demonstrate the viability and marketing power that bloggers currently own. Most of the fashion brands (including high-end, designer, fast fashion brands) have their own Facebook pages or Twitter accounts. Mallory Hsu Studio will update its newest news, styling works, fashion trends and styling knowledge on all its social networking. Social networking can be the primary marketing tool for Mallory Hsu Studio that can promote our brand image rapidly.

6.2.4 Promotion Strategy

Mallory Hsu Studio will set up an official website to introduce its services and exhibit Mallory Hsu Studio’s styling work. The online portfolio will be the basic promotional tool for the company. Because of the popularity of social net-working uses, Mallory Hsu Studio will surely focus on E-marketing. We will have a Twitter account that updates the newest information about our company and posts styling works on Facebook. Our professional website and blog will provide a link to all these sites to strengthen our customer base.

One’s online presence can no longer be ignored. People search online for your business to find reviews, testimonials, product information and more. We will pay for keywords advertising on Yahoo Taiwan and Google to target the custom-ers. Keyword-targeted campaigns are charged on a CPC (cost-per-click) basis. The company is only charged when a user clicks on our ad and is taken to our linked page. Therefore, this type of ads is appropriate marketing tool for small businesses like Mallory Hsu Studio and we can control our daily budget for ads as well. We will spend about $2,000 (approximately $67 for a day) on news pro-motion and keywords advertising on Yahoo Taiwan and Google every month.

Graph 6.2.4Social Networking of Mallory Hsu Studio

2012 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan

Social Networks- facebook page, Twit-ter, blog, fashion website linked

Advertis-ing- ad-words on Yahoo/Google, banner ads, paid searchPublic relations

Venue- launcing party

Table 6.2.4Promotion Timeline

6.2.5 Personal Strategy

As stated by the interview research, interpersonal connections are directly involved in our services. Mallory Hsu Studio has strong connections with people who work in fashion and media industries since the owner; Mallory Hsu has stud-ied at a fashion school in Taipei, Taiwan. She is knowledgeable about innovative fashion designers, fashion merchandisers, PRs, and the people who work in the fashion industry from schools as well as internships and jobs that she has held. Therefore, Mallory Hsu Studio will step forward to inform them of our professional services.

Studio 7.0 Financial Plan

7.1 financial summary

7.2 start-up plan

7.3 assortment plan

7.4 sales plan

7.5 working hours & wages

7.6 loan payment

7.7 profit & loss anaysis

7.8 cash flow forecast

7.1 Financial Summary The detailed financial analysis of Mallory Hsu Studio, the company will launch in February 2012 with ap-proximately US$105,217 as the initial investment. The investment includes studio space with fixtures, equip-ment, supplies, marketing and advertising, and other start up expenses. The total funding demand will be financed from Cathay United Bank with the form of a 5-year personal loan with an annual interest rate of 4% to complete the loan payment in 60 months.

As Mallory Hsu Studio is providing styling consulting and services, we don’t have a cost of goods and invento-ry plan. For the first year of Mallory Hsu Studio, we will focus on building connections and reputation in fashion and media industries to achieve the success. Instead of COGS, we will emphasis more on marketing and pub-lic relationships to develop our networks. Mallory Hsu Studio will spend about US$6,500 on marketing startup, including press releases, launching events, news promotion and keywords advertising on Yahoo Taiwan and Google. In addition, Mallory Hsu Studio is new to the styling business and we have limited target customers. In order to develop the base of our clients, we spend about 20% of net sales for marketing expenses in each month to expand the exposure of Mallory Hsu Studio and become more recognizable in the fashion styling service industry. We estimate to reach the total sales of US$440,670.

In the second year, Mallory Hsu Studio will maintain the relationships that we have built in our fist first with our clients and look forward to cooperating with larger and international clients. Therefore, we expect our growth rate will be 1.05% and sales growth will about US$ 462,704.

With two years of experience, Mallory Hsu Studio will already have established our reputation progressively in the third year. We will keep accumulating our experiences and start expanding our business and clients to other Asian countries. We assume our growth rate will be at 1.10% greater than second year and sales growth will be about $ 508,974 in year three.

7.2 Start-Up PlanTable 7.2.1 Start-Up

7.2.1 Detail of Start-Up Expenses

Table 7.2.2 Expenses

Table 7.2.3 Expenses

7.3 Assortment Plan7.3.1 Stylist

7.3.1 Makeup Artsit/Hair Stylist/ Style Assistant & Total Sales

7.4 Sales Plan

Sales Plan Year 1

Sales Plan Year 2

Sales Plan Year 3

7.5 Working Hours & Wages

7.5.1 Staff

7.6 Loan PlanLoan Rate:4%

7.7 Profit & Loss Analysis

7.8 Cash Flow Forecast

Studio 8.0 Brand Identification

8.1 logo

8.2 business card

8.3 visual design

8.1 Logo

Graph 8.1.1 Logo

Mallory Hsu Studio is a new, young and pro-fessional company, with a professional styling team. We want to create a brand image with edgy, aesthetic, and innovative impression to our clients.

Color: Black/WhiteFont: Cooperlate

8.3 Visual Design

8.3.1 Floor Plan

8.3.2 3D Perspective

Graph 8.3.2 3D Perspective

Mallory Hsu Studio's office will be designed a simple, clean, and modern look. We will hire Kurt Chang and Zero Kuo as our inte-rior designers. We want to create a comfortable and open space not only for working environment, but also for a fashion lifestyle.

Studio 9.0 Interview

9.1 interview Questions & result

9.2 interview conclusion

9.1 Interview Questions & Results

9.1.1 TV Stations & Model Agencies

After the phone interviews from three TV stations: CTS, CTV, TTV and model agencies: Catwalk and Eelin. Styling Department on site: Most TV stations do not have a styling department or employees in their companies. They usually collaborate with outside production companies or teams. The production companies or teams hire the freelancers that are needed. Only TV dramas may have their own stylists and hair/makeup artists on the teams. As for the modeling agency, they have few stylists on site for creating the images of new faces.

Hiring outside production teams/stylists: All of the TV stations hire outside production teams for TV shows. Each TV show has different production teams. Therefore, the production teams employ stylists and hair/makeup artists. They have particular partnerships with familiar salons and stylists. How-ever, the hosts of the shows would have their own stylists and hair/makeup artists.

Recruitment: It usually depends on TV shows that some production teams have partnerships with stylists and hair/makeup artists, some ask other production teams for employing stylists, and some hire the people they’ve known since the industry is pretty small.

Budget of styling per show: The styling fees are always included in the budget of TV shows. However, the average budget for super stars is about NT$ 30,000- NT$ 50,000 that equals US$ 1,000- US$ 1,800. In general, it’s about NT$ 5,000-NT$ 10,000 which is equal to US$ 150- US$ 350 per person in a show. The TV shows usually have sponsors for clothing that can lower the costs.

Salary payment: The salary is always included in the budget of each TV show, but TV companies pay by episode usually.

Sponsors: The TV companies usually have sponsors for clothing, shoes and accessories that can decrease the cost or the stylists may be able to loan them from clothing stores.

The tasks of stylists: The stylists are in charge to loan or find the clothes and accessories. Also, they need to style and dress for the celebrities. After shooting, they have to do the returns to stores or sponsor companies.

9.1.2 Stylist

Stylist career: The stylists in Taiwan have entered the styling industry by working as an as-sistant for other stylists or his/her friends have introduced him/her to this job.

Working location: Most stylists work at their styling studios. Some are open to the public for creating new images so they can do styling on site, but some only style for TV shows or celebri-ties so they usually do styling at TV stations or at other locations.

Recruitment: The stylists don’t contact TV stations directly for recruitment. The stylists usually get hired by production teams or celebrities or people who work in the industry. Therefore, styl-ing studios/stylists have partnerships with some production teams or with some celebrities. If they have any project which needs a stylist, they’d contact the studios/stylist directly. This industry is more about relationships and connections. If you know somebody who works at production com-panies or TV stations, they would ask you to do it.

The tasks of stylists: The stylists are in charge of everything, including loaning the clothes, preparing all the styling tools, and searching for concepts and ideas about make-up and hair and doing the overall styling, and then meeting with models and photographers for discussion.

Differences between personal studios (styling for the public) and TV stations (styling for the celebrities, no styling studio): Styling for the public focuses on the customers. Stylists have to try to understand their thoughts. In contrast to styling for celebrities or TV dramas, we de-sign or create the looks based on the shows or characters of TV dramas.

Partnerships: There’s no official contract with TV stations or production teams. However, the production companies or celebrities have partnerships with styling studios. If they have worked to-gether for a long time, they become a team.

Self-promotion: The stylists in Taiwan seldom do self-promotion actually. They don’t put their styling on the websites or any other social media. Only a few styling studios have their own web-sites and put some of works on it.

9.2 Conclusion

According to the interview reports that we have re-searched, it reflects that the styling industry is small but has started growing in Taiwan. As fashion trend expands internationally, people in Taiwan start to care more about their personal images. They tend to look for styling advice from fashion and beauty TV shows, TV episodes, celeb-rities, and fashion magazines. The TV companies have noticed the market need of fashion and styling advice so they produce some fashion and beauty TV programs for audiences. In the shows, they usually invite some styl-ists, hair stylists, and makeup artists to teach audiences how to unveil the personal images and styles in a positive fashion trend. TV shows definitely are the best potential market for Mallory Hsu Studio. If we follow the styling trends in the United States, Mad Men is a perfect example of why styling has become so important and what is the aftershock that has been produced. Mad Men launched approximately 5 years ago and is most noted for its in-novative styling. Banana Republic even cooperated with Katherine Jane Bryant (the stylist) to launch a collection that sold out virtually to the piece. That genre (50’s to 60’s in the United States) has also produced some of the more interesting fashions that are seen on the runway as well as the accessories that accompany it.

Studio 10.0 Appendix

10.1 references

10.2 portfolio

10.3 autobiographic

10.4 resume

10.1 References

Directorate General of Budget, Accounting and Statistics, Executive Yuan, R.O.C http://www.dgbas.gov.tw

Department of Budget, Accounting and Statistics, Taipei City Government http://www.dbas.taipei.gov.tw

National Digital Library of Theses and Dissertations in Taiwan http://ndltd.ncl.edu.tw

Taiwan Institute of Economic Research http://www.tier.org.tw

Business Indicators DataBase http://index.cepd.gov.tw

National Statistics, R.O.C. (Taiwan) http://www.stat.gov.tw

Bureau of National Health Insurance http://www.nhi.gov.tw

12 Questions For "Mad Men" Costume Designer Janie Bryant http://www.glamour.com/fashion/blogs

Sinyi Realty Co. http://www.sinyi.com.tw

LinLi Wedding http://www.linli.com.tw

Joey Cheng Beauty http://www.jcbbeauty.com

Suzuka Styling Studio http://www.suzuka.com.tw

10.2 Portfolio