Richelle Simmons BU224 Unit 8 Discussion Board Describe the business and discuss the following: I actually started my own small lash business called Kiss My Lash by Chelle. I sold a lash strips. a. What different types of costs would you have? a. The different cost were for supplies, such as lashes, lash curlers, eyeliner, glue, makeup bags, bags & boxes to ship products to customers, packaging to hold products, displays, cameras, backdrops for marketing, etc. b. What competition might you experience? a. My competition came from other lash businesses and a few freelance makeup artist that sold lashes on the side. c. How would you determine the price at which you would sell your product? a. My price was determined by a formula I came up with. Profit = selling price - cost of product - I always tried to keep my prices in between everyone that I was in competition with as well. d. How much product would you produce? How did you determine this? a. I buy them in bulk from my supplier and would make sure I always had a minimum of 200 -250 on hand at a time. When I first began I ran out quickly so I started writing down the styles that would sell out quickly and the styles that were in high demand. I always tried to introduce at least 5 new pairs a month.
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