A Proposal of LalaSkinacare Business (Term Paper Sample)
The task was about writing a business plan of a specified business about a skincare shop
called LalaSkincare located in Canada. The paper constitutes vital concepts like AN EXECUTIVE SUMMARY, Business Goals, Target Market, Product Differentiation, Pricing, advertising, and Financial Issues.
The writing style used is APA 7th edition along with 3 Business
LalaSkinacare Business Plan
Course Code: Course Name
LalaSkinacare Business Plan
LalaSkincare will operate as a privately-owned organic skin care manufacturer and distributor located within Elgin Street, Ottawa, Canada. The entity will manufacture its products made from organic ingredients purchased from local suppliers. The business will specialize in manufacturing skincare products for women aged between 20 and 64. These women will be the working class who make beauty and body appearance part of their lives. The growing number of educated women and the expected increase in women population over the next five years will present readily-available market for the products. The product will utilize unique packaging that presents them as of high-standard and enhance sense of class to consumers. As a privately-owned business, the owners will be Mary and John. These are two business investors who hold shares and have operated in the Board of Directors for two of the leading cosmetic firms globally. Mary is a qualified financial officer with significant experience in the area. She will utilize her financial management expertise to ensure long-term success of the business. On the contrary, John is an experienced salesman who had spent more years in the cosmetic industry. He will use his connection and personal selling techniques to attract and retain customers for the business. The cosmetic industry has a forecasted annual growth rate of 4.24% over the next five years, leading to a steady growth rate. The increasing number of employed women presents higher success possibility for the business in the sector. The expected initial cost of $450,000 will come from a capital structure of both debt and equity. The owners will contribute $200,000 whereas the remaining $250,000 will come from commercial bank loan borrowed after determining a financial institution with favorable terms.
LalaSkincare is a privately-owned organic skin care entity that will focus on production and sale of skin care products. The entity will manufacture its products made from organic ingredients purchased from local suppliers. Its ingredients will lack harmful ingredients, fillers or dyes. The entity will be located in Elgin Street, Ottawa, Canada. The business will manufacture several products including face and body wash, lotion, shampoo and conditioners. The business will operate for seven days a week, to meet the growing demand during weekends. Most people shop for their skincare during weekends as they remain busy during weekdays. Our products will contain premium quality oils to optimize the skin care and prevent ingrown hairs while targeting dark spots and relieving its users from razor rash burns. Our main product will have a delicate, spicy smell like a perfect autumn day to maximize users’ experience. The products will contain Vitamin E and B. LalaSkincare will operate an in-store shopping since it will start on a small scale size before progressing to the online delivery approach later. Thus, LalaSkincare will meet the Ottawa skincare demands.
LalaSkincare’s objectives are:
* To obtain a 70% gross margin or more within the first year
* To get at least 15% net profit within the first year
* To surpass sales revenue of $250,000 within the first year.
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