Developing a New Start-up Venture Based on Skincare Products

Report

ABSTRACT
Entrepreneurship refers to an activity of setting up business where entrepreneur take risk
in the hope of profit. It represent as a creation of value. This report is based on develop a new
start-up venture based on skincare products by fulfilling the demands of customers (Gabrielsson
and et. al., 2020). It is very useful for an individual person to understood the business concept
that involves product description, location, values etc. so that new venture is set up properly and
effectively. In this value chain analysis and business model canvas is also involved to develop
more profitable results. In this entrepreneur find potential risk that is associated with business
and offer risk mitigation strategies to cope up with risk and enhance profitability.

Table of Contents
ABSTRACT.....................................................................................................................................1
INTRODUCTION...........................................................................................................................1
Explain new business idea..........................................................................................................1
Key components .........................................................................................................................2
Assessment of industry, market, organisation and financial feasibility......................................3
Value chain analysis and Business canvas model.......................................................................8
Risk management model...........................................................................................................10
CONCLUSION .............................................................................................................................11
REFERENCES..............................................................................................................................12
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INTRODUCTION
Entrepreneurship refers to an act of becoming an entrepreneur with needs and skills to
create a successful business venture by taking risk linked with start-up venture (Bauman and
Lucy, 2019). As this report outlines the new business concept with inclusion of description of
product, target market, special attributes, values, scale of business etc. A new start-up venture is
based on vegan skincare products “Everyday Toned”. It is a kind of shop that manufactures
organic skin care products with use of herbs and plant leaves. This report involves description of
product service, special attributes, location, scale of business, who are involved. It also explains
assessment of industry, organisational, market and financial feasibility are also included within
this report. IN addition to this business canvas model and value chain analysis is also developed
on new start-up venture “Everyday Toned”. Further it involved potential risk that were faced by
entrepreneur and its mitigation strategies using risk management model under this report.
Explain new business idea
An entrepreneur create new idea and start a new venture to satisfy the needs of
customers. The new start-up venture is “Everyday toned” that is considered as medium size
company offers variety of vegan skincare products as per individual needs that are very effective
to fulfil individual needs. The main aim of operating a new venture based on skincare products is
to keep customer skin healthy and toned (Bird, 2019). Now a days people are more emphasis on
using customised products that solve their skin issues promptly. Therefore to fulfil demands of
customers, entrepreneur take an initiate to launch new venture where they sell skincare products
that are organic and vegan which does not harm the customer skin because they customised
products as per own needs. This new start-up is medium sized that work under the several areas
of London, UK using online website. After COVID 19, people prefer to shop online so according
to this entrepreneur operate their store using online website, e-commerce sites such as Amazon
etc. where customer easily get the skincare products that fulfil their daily basis demands to make
skin Toned and flawless (Chen, Wang and Lu, 2021). By operate the business “Everyday Toned”
variety of issues are faced by organisation such as managing team, arranging monetary sources
and attract customers. Hence, to satisfy demands and requirements of customers related to skin
this store is very useful and it offer classic and toned skincare products within market of London,
UK.
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