RE: SEC-S20W1 | My Business Ideas | (cosmetics business)
Hello @aquoli
Thanks for sharing your post in "Dev's Teaching Team"
Here are the feedback and evaluation results:
Point 1. I appreciate your decision to start a cosmetic business on a sole ownership basis. I am curious to know about your plan and whether you will be doing it on a wholesale basis or selling them directly to your customers. Also, would you import them or these products are available in Ghana? 1.5/2
Point2. Yes individual model in such a business is okay but your advisory board should be well-versed in the quality of the product because the inferior quality of such products is harmful to the skin and might involve legal involvement. So engage experts in your board. 1.5/2
Point3. As you plan to sell a large quantity of quality products, I suggest to be prepared with enough funds at your disposal because quality product manufacturers do not compromise on payment terms 1.75 /2
Point4. I suggest not depending solely on social media but going for e-commerce sites like Amazon and eBay that will help you grow at a rapid rate. Study taxation and quality signs of the products to safeguard yourself from legal consequences. 1.75/2
Quality 1.75/2
Score 8.25/10
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I wish you a great trading experience as and when you commence your cosmetic business.