Business Venture

Beauty Venture: A Case Study

Introduction

Throughout history, women have sought to look their best and to be the most beautiful among all. Back then, there weren't such facilities or products as there exist now. All they had was simple dyes, natural consumable products and some waxes. But after the industrial boom, a huge variety of synthetic and semi-synthetic cosmetics have been made and a lot of companies were formed, merged and continue to grow till this day. However, it wasn't always the major corporations that marketed innovative products. Every now and then, a new venture by some entrepreneur comes and takes over a segment with a simple plan and that is: to be the leader of that segment. It is in the nature of entrepreneur to have basic idea of consumer demands and they work on that requirement to serve and benefit from the market. The story of The Body Shop is no different as it defined a new category in business sector: the business ethics.

Discussion

Currently in UK, setting up a beauty venture is tough. The competition is always by the well-established start-ups. What Dame Anita Roddick had to face in her time was no different. She had to face the top multi-nationals but with grit determination, she did. Along with her husband, she built an empire from a small store that became an icon in the business world. With no formal training and just that sense of aesthetics and knowledge that she gained from her travels around the world, made her not just a rich woman but a hallmark of ethics and champion of green planet campaigns along with her policy of fair trading with the local businesses for sourcing her items around the world.

Business Model

Following the model that was based on ethics, The Body Shop decided to go one step further by creating a chain of obtaining materials by trading with local communities and at the same time using minimal or no packaging for products. They provided the basic knowledge of how to use a product and which product is suitable for an occasion to compliment the looks as well as take care of the skin properly by pasting posters in the shop and training staff with all necessary information to be told at hand when dealing with customers. They also used recyclable packaging to reduce waste and save environment. The products were sourced from natural and sustainable resources and to be purchased from those who are looking to support their families and communities, ultimately the country's economy (The Body Shop, 2013).

In a survey, women pay more for the beauty services than they do for their healthcare (The Dailymail UK, 2011) and in this article, they reported that they spend about £336 a year. There is a vast market for other segments of beauty care and a lot of potential to explore.

General Plan

The Body Shop initially launched 25 hair and skincare products. Their plan was to market natural products and at the same time, promote ethical practices ...