An overview of the proposed idea:
Our business idea is to make and sell different flavours and shades of lip balm and lip scrub at affordable prices. Our unique selling points are that both our lip scrubs and lip balm are homemade, so no chemicals were used in the process, they can be bought in matching flavours and colours so you can buy them in pairs, they are perfect mother’s day gifts and that they smell and taste nice.
Description of the business:
The business that we are starting up is just lip products at the moment but in the future we hope to expand to selling all types of beauty products like lip stick, soap and body wash. The idea for our product at the moment is to make and sell different flavours and shades of lip balm and lip scrubs at affordable prices; We choose to make lip balm and lip scrubs to start off our business as there is an increasing target market for the product, (most females with disposable income use lip balm a lot) and that there is a gap in the market where our product would go as most of the other companies sell their lip balms for over $10 and their lip scrubs for over $5. It should be relatively easy to make a profit from these products as the ingredients are readily available and at a low cost, meaning we could produce the product at a reasonable price so it would be more appealing to more people than the lip balms and lip scrubs. Also because they are homemade no chemicals were added so the product is unlikely to hurt anyone’s skin. The recipes for the products were gained from the internet but we had to change the recipe’s slightly to suit our personal tastes, so trials of the product were necessary to make sure the constancy of the products were correct and they weren’t harmful for consumers. The recipes were chosen because they required only few readily available ingredients, have a large target market and don’t take particularly long to make. People would buy our product rather than try to make it at home like we did...
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