Business Plan Portfolio
M&J is a somewhat informal organization in which a number of friends and family members pitch in to do whatever it takes to make the business successful. Overall, this has worked well, but you know that sometimes there is some serious miscommunication resulting from the lack of clear authority. The lines between the marketing, shipping, finance, main office, and sales departments are fuzzy at best. There are people working in multiple departments who have no clear accountability to any one manager. In your response, address the following:
First, examine how businesses can be organized and structured in general.
There are many different types of business structures, but if you own and operate a business that it is a sole
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Mimi and Jasmine did not have a business plan when they started the company, and the company has grown organically without a formal plan in place. Your task in this final section of the business plan is to put together a summary of all the elements of a business plan and identify the potential risks. In your response, address the following:
EXECUTIVE SUMMARY
M&J Cosmetics is a cosmetics manufacturer founded as of 1/10/2007.
1. PRODUCT
M&J Cosmetics provides the following:
Facial Skin Care – 27%
Personal Care – 23%
Hair Care – 20%
Make-up – 20%
Fragrance – 10%
2. MARKET
Our target customers include 18 to 48 year old women. The total addressable market is $265 thousand. M&J Cosmetics is pre-revenue but is gaining meaningful traction with customers. Based on this plan, M&J Cosmetics projects that it will be able to capture at least .0075 percent of this market over the next 6 years.
3. COMPETITION
Our competition is comprised of D&C Face Cream and Hair and Body Solutions Inc.. M&J Cosmetic’s competitive advantage lies in our superior all-natural organic products.
4. MANAGEMENT
Michael Scholz, CEO of M&J Cosmetics, is tailor-made for this opportunity because he has taken Introduction to Business Online. Other members of the management team include:
Mimi
Jasmine
5. FUNDING
Mazal Group was founded in 2007, in Chatsworth, California. They have six main brands and two brands being developed. With their emphasis on cosmetics, they have shown excessive growth in the last few years, opening an average of eight new stores and ten kiosks each year. They have eighty-four employees in their headquarters, up from the initial eight that started in 2007. In 2013, the cosmetics industry in the United States earned revenues of $56.63 billion, with facial skin care representing 27% of the industry (Exhibit 1). CEO, Adi Oded, says, “The cosmetics industry, especially in skincare, is booming. We have all these baby boomers getting older and looking for anti-aging solutions and we are giving them those solutions” (personal communication, June 27, 2014). The cosmetic industry is constantly developing and this in-depth analysis will provide the explanation of why Mazal Group has had so much success in recent years.
Whether you work in the private or public sector, Emergency Medical Services (EMS) is a business. To run a successful business you must employ the practices of a market leader. Market leadership requires professional development. Through professional development, strategic plans can be learned and then used to improve leadership and the organization as a whole. In the following paragraphs I will discuss the characteristics of an EMS market leader and the role professional development has played and will continue to play in my transition into a market leader. I will also describe my personal strategic plan that I will use to guide me through the first 90 days in my new position as EMS Officer, as well as a plan for any improvement
Yahoo! Finance (2014, January 31). MCD Competitors | McDonald's Corporation Common S Stock - Yahoo! Finance. Retrieved January 21, 2014, from http://finance.yahoo.com/q/co?s=MCD
...he oldest companies producing skin care and pharmaceutical products, it has a high level of customer care in order to create high value from their products and high customer satisfaction.
The owner reports business gain or losses on his or her personal income tax return. A sole proprietor is taxed on all assets from the business at appropriate personal tax rates. The corporation income, and acceptable expenses, is reflected on the person’s tax return. All corporation income is taxed to the owner in the year the business acquire it, whether or not the owner take away the money from the business. No disconnect federal income tax return is acquired of the sole proprietor.
As you read further you will see why MAC is such a unique entity in this well established industry. Every aspect of what makes MAC Cosmetics; "MAC" being its products, its location, its brand image, or its phenomenal price point is unique and goes against most typical marketing methods. As we all know product, price, promotion and place are the four fundamental variables that either make or break a company. MAC is currently the only Estee Lauder brand that is not only meeting; but exceeding its annual sales goals. Last year MAC surpassed its sales plan by 121 million dollars! Which is unheard of in this industry.
MAC (Makeup Art Cosmetics) is originally a Canadian company that has been operating for more than 20 years and it has already penetrate to many countries all around the world, in the North and South America at most. It sells brand cosmetics of high quality that is intended for professional as well as everyday usage. The brand is sought-after also by many celebrities, fashion models, and photographers because of its delicate texture, huge choice of colors, and durability. The products are usually very well tolerated on every skin type and MAC make-up items are also suitable for women with sensitive eyes (MAC, 2007, p. 1). The prices of the MAC cosmetics are comparable with other high quality world brands, i.e. those which cannot be bought in drugstores, but in the specialized cosmetic stores or international perfumeries that the company has a contract with. That hinders the company from further expansion into other countries, mainly in Central and Eastern Europe, because of the limited ways of sale.
Fast ‘n Fresh Premium Ice Cream Parlor Fast ‘n Fresh Ice Cream “Fast ‘n Fresh- - good for you!” Statement of Purpose The purpose of this business plan is to support a request for a 75,000 five-year bank loan to purchase equipment and inventory as part of the financing for a start-up sole proprietorship, Fast ‘n Fresh Premiun Ice Cream Parlor. The business will be owned by Daniel W. Beese and will be located in leased space at 858 Success Ave in the new Riverside Faire shopping center, Jacksonville, FL 32211.
Target Things is a mobile training and safety instruction company; it will utilize the DART Targeting System, a computerized range system incorporating the latest in technology and graphics. It is a 3-D range, which can be used for archery or other weapons type training. This convenient, compact and very affordable Dart digital shooting system comes in three portable cases that can be easily transported in a mid-sized vehicle. One case holds the electronic equipment, another the firearms, and the third case holds the screen/frame. Target Things will specialize in the techniques needed to become proficient with all types of archery and firearm equipment. Also, we will become firearms and archery National certified safety instructors.
The beauty industry has great opportunities for companies wanting to profit from the growth and resiliency of the sector. Finding the right niche is important for becoming visible in the industry. Communicating the unique selling point to the target group will distinguish the company from the competition so it can survive. Also, product sales are needed to earn revenue beyond the service income. The success of Sugar Wax Salon will rely on its ability to offer a beneficial service, create the right products, and promote them to the right people at the right price.
After studying the cosmetic market we can identify a series of needs in this market:
Without a successful business strategy put in place the company would fail and be unable to compete with competitors. There would be on way of knowing what resources are required. No planning for the future of the business. If there are no targets set out to achieve there would be no way of measuring how successful the company has been.
The business plan will also be useful in facilitating the adoption of a strategy that will help the business prosper in the modern market. The plan will be a critical tool that will help in the production of a reliable strategy for attaining the goals and objectives. The proposed business plan will be implemented in three years time. Within the first three years, the business i...
What resources and capabilities do you think it would take to become the top direct seller of cosmetics and beauty-related items? Does Avon Products seem to have any of those? What would it take to make its capabilities distinctive?
There are many advantages and disadvantages when owning your own business. When you own you own business, it’s known as a sole proprietorship. But with any type of business, there will always be advantages and disadvantages.