It is very easy to make beeswax lip balm. All you need to do is heat up a mixture of beeswax, olive oil, shea butter, and the essential oil of your choice. Depending on what essential oil you pick is what flavor your lip balm will be. This is not the only way to make beeswax lip balm, there are lots of recipes out there that you can use. This is useful so I can give a little background knowledge on how you make and what you need to make it. I can also use that information to find out how much it cost to make it and find out how much it should cost because of that.
I found different ways to market a business with a high school budget. E-mail marketing, social media and talking to clients are some of the marketing tactics that were talked about that our business used. The article talked about how to use the tactics effectively and not over use them as well. This be useful when talking about what I did to market Cadet Bees Wax Lip Balm I can talk about how these were things that even the website Entrepreneur brought up when talking about ideas to market businesses.
It started with Brandon Uhlenberg talking to John Kluesner about bees and Uhlenberg had the idea to use that for his marketing management class. They first planned for the class to market and sell the honey that produced from Kluesner's bee farm. They settled for the idea of selling lip balm made from the bees wax that his bees produced. They marketing team came up with a name and the Cadet Bees Wax Lip Balm business took off. I will use this information in my first point of how the business came to be.
In your business statement you need to talk about your identity, problems, your solution, target market, the competition, revenue streams (where or who will sell), marketing, expenses, team and key roles, and milestones for your business. There are two types of Business plans, Lean startup plan and Traditional business plan. This will be useful when I start talking about the business plans in my first point.