One of my group's venture idea is to give services on nails and hair to customers in David Thompson. We are planning to bring our own equipment from house. We might set a stand near the gym doors because there are usually a lot of people in that area.Why this idea you might ask? Well, I believe young girls might not have experiences having nails or having pretty hairdo before. Our idea is to give youths a chance to have a little fun, instead of just studying all the time. Also, there are times that people have bad hair-day. This would benefit us with an advantage to help with their hair.
Our other idea is to deliver and sell holiday theme material. For example, Valentines day. We can sell and deliver roses, chocolates and cards for consumers. For the product, we would ask the customers to place an order first then deliver the materials. We might set a stand in the foyer. The start up cost might be a little high but if we do well, we might make a profit. I think this is a great idea because usually, people like to "show-off" their love to their lover. This would benefit consumers because it would be very convenience for them at a low price, instead of going to a flower shop to spend hundreds of dollars on roses.
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ReplyDeleteFor the first venture idea, it was a very good idea, but I believe that you can earn more profit if your target market isn't only directed towards highschool students. The reason is that it is quite limited. Since most teen girls are able to do their own hair and nails, how would you attract them?
ReplyDeleteFor your 2nd venture idea, I think that it would be hard to stay in business because there's a lot of competitors following the same idea. How would you make your products stand out more than the others?
-Anna Zhu
I think the first idea may be a bit difficult to start up, like Anna said...many teenage girls have loads of make up, nail polish etc. They also would rather experiment with it and buy more in my opinion.
ReplyDeleteThe second idea is a bit common. The garden club and student council are also in the business of providing those services in our school. As for outside of school, I think it would be a bit awkward for a random girl to show up at some guy's fiancées house with a giant bouquet of roses when he could have just did it all himself.
I think it'd be really cool to have a mini salon in the school. I'm not sure if people will actually get their nails/hair done there but the idea itself is cool. People tend to go back to places that they have cut their hair/done their nails before because they like how it was done previously. This might be hard for your business because it would be hard to drive your customers away from a place they have been loyal to before.
ReplyDeleteWith the holiday festivities idea, I think it wouldn't work because, like Matthew has already said, there are clubs and groups in our school that already do these events.
I don't like your nails idea not because it's not a cool idea to have a mini nail salon at school but because who's going to have the time and stop by your "mini stand" and get a manicure when we've got a class to go to?
ReplyDeleteI also don't like your selling holiday themed items as well because how would you know people would prefer your cards/gifts, etc? It will cost a lot to be able to have a variety of things, therefore, you most likely won't have a lot of things. Why buy it from you when people can go to other bigger, better qualitied stores?
I don’t think the first venture idea will work because lots of people can do it themselves so why would they spend extra money to do it. If they are really spending money on it, they will probably prefer to do it outside at a professional salon. In order for this to work, you will first need to gain trust by customer first.
ReplyDeleteFor the second idea, there isn’t a big holiday each month. So what are you going to do during the month without holidays? There is also other competition for this idea, so it might be hard to start on this idea. You will also need to buy the roses and chocolate for example, and then you wouldn’t be able to make a big profit.
-Eva Li
I like the thought of your first idea. There's people who don't have time in the morning to do their hair but they can stop by your stand during break or lunch to get it done. The nail concept is really creative but it takes time.
ReplyDeleteYour second idea may be hard to succeed because we already have clubs that organize that.
The first idea is quite brilliant because it will attract many consumers. Your idea is quite unique compared to other competitors. Overall I can see this venture idea go very far because it is lacks competition. Some problems are start up costs.
ReplyDeleteYour second idea is not new but you could beat the competition by promotion and top notch service. I can see this idea at a stand still point in profits because the venture idea is relatively difficult to attain. Some problems are costs in promotion.
Well the first idea has a decent concept. Some may want to use this service however as some pointed out, how many would take their time out of school to actually get their nails done when they have only an hour at lunch for example.
ReplyDelete- Tim
I do like your first venture of bringing some fun to the school by opening a business on nails and hairs. It would attract the students even maybe the males. When you say “bring equipment from home” that would be a little concern because I wouldn’t want to use household equipment but new equipment bought especially for this because people can be conscious about this. Your second idea of selling holiday theme materials is a good venture idea but doesn’t the student council already do that? You would profit because that would give the students more choices to pick from.
ReplyDelete- Asma Iftikhar.
The idea of having a mini salon type thing within the school sounds like fun. It gives a chance for girls who don’t know how to do their own hair and nails a chance to experience it and to afford the service than going to an actual salon where they charge much higher. It gives them something new to try to wear for school out of their ordinary too. Also, you could include a mini tutorial while in the process of doing the hair or nails so they not only get to be made up but will have a chance to learn and try it on their own.
ReplyDeleteThe second venture idea sounds cute but I’m not sure it will be profitable around DT because there are already clubs that do that holiday themed things within DT. They also do it for fund raisers so they might outrun your business.
Overall, I’d recommend sticking to the first venture idea as there will be more of a chance for your success and it’s also something very new you could bring into the school to try out. Good luck on your venture Elisa! :)
I don’t really like your first idea because having your nail done takes time. There is not much time in between classes. No one wants to pay for such a sloppy job, especially having to rush at the end of lunch.
ReplyDeleteI like your second idea, but there are already clubs at school providing these services. What difference is there?
I think your initial idea of opening a mini salon stand is a really good concept, but it doesn't seem to be very logical. Firstly, why would people come to your stand to get a hair dew on a regular school day? And nails take quite bit of time so in a 10minute break or 40 minute lunch time, how are you going to be able to handle more than 4, 5 customers?
ReplyDeleteI love your second venture idea! I think having a shop that sells different theme related items for all year round events, is a brilliant idea with a very high potential market. Even though there are clubs already in the school that organize such things, their items are very limited. If you can introduce a variety of interesting theme materials for each occasion, you'll be sure to attract a high volume of customers! If you decide to pursue this business idea, you'll ultimately be gaining a a lot of profit and success in your business.
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