An Overview of Elizabeth's Cosmetics

Topics: Business terms, Trinidad, Cosmetics Pages: 10 (1712 words) Published: April 25, 2015

Elizabeth’s Cosmetics

Name: Elizabeth Dardaine
Registration number:
Name of subject: Principles of Business
School: Caribbean Union College Secondary
Date submitted: 26th February, 2015

Table of content
SectionPage No.
1. Description of the business………………………………………………………3 2. Justification of location……………………………………………………….....3 3. Selection of appropriate labour………………………………………………….4 4. Source of fixed and working capital…………………………………………….6 5. Role of the entrepreneur………………………………………………………...6-7 6. Type of production………………………………………………………………7 7. Levels of production…………………………………………………………….7 8. Quality control measures………………………………………………………...7 9. Use of technology……………………………………………………………….7-8 10. Linkages………………………………………………………………………...8 11. Potential for growth……………………………………………………………..8 12. Government regulations…………………………………………………………8 13. Ethical issues…………………………………………………………………….8 14. Bibliography …………………………………………………………………….9

Description of a Business
Legal Requirements
Elizabeth’s Cosmetics would operate as a sole trader business. In Trinidad a sole trader business must be registered with the companies registry. The proposed business name of Elizabeth’s Cosmetics would be searched and once no other business has the name Elizabeth’s Cosmetics, this name can be reserved and registered. Once the registration process is complete a registration certificate will be issued. Business Concept

Elizabeth’s Cosmetics is a business that will locally manufacture high quality cosmetics products. The business would have an online store as well as a store front located in Tunapuna.

Business Opportunity
Elizabeth’s Cosmetics will offer consumers locally made products from locally obtain resources. These products will be created with the Trinidad people in mind. This business will succeed because we make products that will work one everyone’s’ unique skin type and they are guaranteed to get the skin that they always dreamed of. There is a demand for this business as; most cosmetic products in Trinidad are manufactured internationally therefore the products do not carter for the specific needs of the Trinidadian people. Also as the imported cosmetics products are manufactured aboard the consumer will have to pay additional cost. As such Elizabeth’s Cosmetics will produce products at a reasonable price. Mission Statement

My mission is to become the number one provider of cosmetics in Trinidad by creating high reasonably priced products. The purpose of this business is to aid in enhancing the Trinidadian women’s’ physical appearance by concealing undesired blemishes or spots.

Justification of location Elizabeth’s Cosmetics Store is located on the Eastern Main Road in Tunapuna. This location is suitable because it is easily accessible to potential consumers as it is located on the Tunapuna main road and transportation will drop customer in front of the store. The building can accommodate a small manufacturing business and the rent is affordable.

Labour
Elizabeth’s Cosmetics will have a mixture of skilled and unskilled staff members in the production department. In this department there will six employees, the Head chemist, two assistant chemists and four production assistants. Head Chemist

The Head Chemist is responsible for creating the new products and over-seeing the members of the production staff. The Head Chemist would be required to have a degree in chemistry from a University. The Head Chemist must also have a minimum of ten years experience as a chemist in the cosmetic industry. The responsibilities for this position are:- Source the supplies to be used for the cosmetics;

Supervising of all production staff members;
Managing the production...
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