This module has helped me a lot with learning more about the buisness industry. A business plan is needed including cash flows, cash forecasting, how an idea and going to work, marketing and promotions. I have learnt all this information through out this module.
Research
For my ten pound buisness i decided to make something involving embroidery as this is what i enjoy doing in my spare time. I reasearched into embroidery designs.
Setting up a £10 buisness
I decided to make machine embroidery purses and bags including patchwork into some of the designs. My aim was to sell patchwork bags with embroidery on the pocket, seam or panel i would then sell the purses for less money.
I called my company Sow and Sow as it fits in with the theme of my company. To make extra profit i also made eight handmade cross stitched cards.
The buisness plan
My buisness plan was extremerly useful it told me how many bags and purses i am to sell a week, how i plan to do this, how much profit i was making and my marketing strategies.
I set up my company using websites such as Ebay and Etsy. My personal opioion was to do this rather than a pop up shop as i can continue this on in the future rather than selling at a stall once in a while.
My marketing stregies worked well as my offer was spend over £35 and get a free purse up to £10 pound. I also had one customer asking for a personal design in which i charged £10 more for this.
My overall profit was over £50.00 which i was extremerly pleased with. I have decided to continue this buisness on.
My final products
Final packaging
Packaging
I made a brown paper bag with a large embroidered bow and tag on the handle.
Overall enterprise has taught me alot of new skills, i will use this for the rest of my university life and for my future.
