Company Background
Business Description: The Name Cosmetics provides vegan and cruelty free homemade lip glosses and scrubs to the socially conscious consumer.
Mission Statement: Supplying kind ingredients for kind lips since 2021, The Name Cosmetics enables consumers to look and feel their best. Business Model: Customers can purchase one of four colors of gloss (COLORS) for $7.50 per gloss, and our vegan lip scrub for $8 per scrub. During COVID-19, I spent eight months researching the most effective ways to create these vegan products from the comfort of my own home. The cost to create one gloss is $2.75 per gloss, and $5 per scrub. Customers can place orders through instagram, with hopefully website channels being launched late fall 2021.
Market Opportunity
Target Market: Any individual can purchase and enjoy The Name Cosmetics regardless of gender, race, age, or skin type.
Opportunity: 80% of the cosmetics industry still allows animal testing. However, 70% of the population is in favor to stop animal cruelty. 70% of younger millennials are more likely to choose one brand over another if that brand demonstrates inclusion and diversity in their product range. The Name Cosmetics is inclusive for all individuals.
Industry Overview: The global vegan cosmetics market size was estimated at USD 12.9 billion in 2017. Surging demand for personal care products, coupled with rising awareness regarding cruelty-free beauty, is expected to be one of the key trends escalating market growth. Leadership
Qualifications: Participant in NFTE Entrepreneurship Course; Participant in Science Research Program in partnership with Regeneron Pharmaceuticals; Being young enables me stay up to date and current on makeup trends; Being bilingual (Fluent Spanish) enables me to speak to a variety of potential customers
Contact Information Lianny liannyj35@gmail.com instagram: @thenamecosmetics The Name Cosmetics Yonkers, New York
Year Founded
2021
_____________
Selling Price per Unit
[$7.50 per gloss, $8 per scrub]
Gross Profit per Sale
[$2.75 per lip gloss, $5 per scrub]
Monthly Operating Expenses
[$200 all in for Versagel, lip gloss flavors, pigment (4), lip scrub base, lip scrub containers, lip gloss containers, syringes, oils (4 different types), shipping packaging, shipping labels, lip gloss labels, mixture containers,storage bins (2)]
Break-Even Units/Month
[Monthly Break-Even Units;
$192.50 (70 units lip gloss)
$200.00 (40 units scrub)]
Presentation Video: