All Organic Hair Care Products
Section 1: Business Idea
Section 2: Rational
Section 5: Business Organization
Happier Hair will be a sole proprietorship, which means it will be a business that is owned and managed by one individual who receives all the profits and bears all losses. This type of business will allow me to further people’s interest in homemade organic hair care products that will better the customer’s hair. Once I have a high interest from people around the world, I can move up to a partnership, thus allowing people to invest into my business which can then expand. A sole proprietorship will allow me the benefits of: easing into and out of business, control over all profits and business operations, pride of ownership and lower taxes. Some potential disadvantages I will have to deal with are: unlimited liability, responsibility of all losses, management knowledge and raising financial capital.
Section 6: Demand
Original: As the price increased, the demand for the product decreased. People did not want to buy many products once the price increased because they would be spending twice as much money.
Change in Demand: When the price of the second product was lowered, the demand for the product increased, but as the price increased the demand decreased. People wanted more of the product because the second product was cheap and they could buy more of each.
Section 7: Start-up Costs
Total Starting Costs: $23,085
The total starting costs includes each item listed above in the table. I include the monthly cost of leasing the building instead of the yearly cost. Each item listed was thoroughly researched to find the best prices for the business. I have listed every item in detail of what will be needed to start Happier Hair. These items will enable me to get the business going and will create a welcoming environment to the customers.
Section 8: Projected Costs and Revenues Chart
Section 10: Market Description
The hair care industry is highly competitive because customers want a product that will make your hair healthier and happier. We are a monopolistic competition. As for local competition, the market is both saturated and unsaturated. Hair care products are sold almost everywhere, however; there are very few stores who carry homemade organic hair care products. All of our products are homemade and contain all organic ingredients. We offer our products at reasonable prices so that our customers feel like they are paying a decent price for a large amount of product. Happier Hair will be different from any other business because we promise a hair care product that will better change your hair.