Mashbox Feasibility Study

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ET9121- Introduction to Entrepreneurship

Full Feasibility Report- Mashbox

Prepared for: Asst Professor Marilyn Ang
Prepared by:
Charlene Liew ( U1010116H )
Tan Wan Ting ( U1010742D)

TABLE OF CONTENTS
1. Product/Service Feasibility2
1.1. Introduction2
1.2. Product summary report6

2. Industry/Market Feasibility14
2.1. industry feasibility14
2.2. target market feasibility20
2.3. market timeliness42
2.4. conclusion46

3. Organisational feasibility48
3.1. Management prowess48
3.2. resource sufficiency53
3.3. conclusion56

4. Financial feasibility58
4.1. Total startup cost58
4.2. annual sales59
4.3. breakeven point61
4.4. financial performance of similar firms62
4.5. overall financial attractiveness64
4.6. conclusion72

5. Overall feasibility75
5.1. product/concept feasibility75
5.2. industry/market feasibility76
5.3. organisational feasibility77
5.4.Financial feasibility78
5.5. overall feasibility79

6. references80

7. appendixes82
7.1. appendix a – financial tables83
7.2. Appendix b – conducted interviews86
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Part 1: Product/Service Feasibility
1.1 Introduction
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Founders
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We are a group of undergraduates who are exploring the concept of entrepreneurship and are keen on revolutionizing the cosmetic industry. We see the potential of bringing the experience of trying on and purchasing makeup to a whole new level of convenience and efficiency. In addition, we feel that the cosmetic market industry is extremely diverse, with so many variations of cosmetic products available; and thus see the need to help improve market visibility.

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Description
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Our product aims to allow customers to try on cosmetic products before their purchase in a highly convenient and sanitary manner. -------------------------------------------------

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This is achieved using a highly photo-realistic representation of cosmetic shades that is conducted virtually on our software. It will work on the basis of “virtual make up”, incorporating the Facial Feature Technology that is similar to the face recognition function found in cameras. -------------------------------------------------

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To elaborate in detail, our product is essentially an interactive screen preloaded with the Facial Feature Technology System. An inbuilt camera captures a shot of the user, which appears on the monitor. Using the Facial Feature Technology system, the program allows customers to view a photo-realistic representation of any cosmetic product’s shape of their desire. The visual illustrations will be projected on our HD screen, using three-dimensional graphics to simulate the closest possible likeness to reality. By achieving this, it greatly reduces the need for cosmetic consumers to physically try on the testers. This also allows our users to explore alternatives out of their comfort zone without having to physically do so. -------------------------------------------------

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Apart from providing visual simulation of the cosmetic products, our software also offers product comparison among different brands. This helps to create a more holistic shopping experience for them as...
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