Feasibility Study Makeup

CHAPTER I THE PROBLEM AND ITS SETTING Makeup is hugely versatile, not only in terms of colors and products, but also in terms of how it is worn. While some wear make-up to create a large and dramatic appearance, others will wear make-up more subtly. Make-up can be worn in a wide variety of situations, ranging from work, events, nights out, and even just round the house if you so desire. As a result of such diversity, the make-up industry is massive, meaning that everybody should be able to find products that they would want to wear and be seen sporting.The use of cosmetics is not latest trend, it has its roots deep within the annals of history, the cosmetic industry, which started glowing in the early 1990s, is expanding exponentially. With more women and men becoming conscious and willing to spend on their appearance, this industry has been growing at 20-25 percent the last few years. Not only have more people started using cosmetics, they are also willing to pay more to look and fe el good.The penetration rate is becoming higher than expected, this not only means that consumers are willing to spend extra bit to look and feel good, but also indicates that constant up gradation from mass to premium products. The increase of media exposure, the willingness to spend more on personal care, consciousness about looks and advertisements and promoting targeting various consumer segments are some reasons for their trends in consumption and penetration.In a place like Cabanatuan City where a lot of institutions such as schools, hospitals, parlors and business establishments are located, there is a high possibility that the business will be successful or profitable because of the greater number of employees who visits and go to the location of the business to buy this kind of product. ? Statement of the Problem This study aimed at determining the feasibility and viability of establishing â€Å"Make Up Hub† business in N. E. Pacific Mall, Cabanatuan City. It sought answers to the following questions: 1.What marketing strategies could be taken into consideration to ensure the success of the proposed business? Who will be its target market? 2. What technical requirements should the management implement in order to make the business more competitive? 3. What form of organizational set up could be best adopted to put up such project? What are the qualifications of its personnel? 4. How much capital is needed to finance the business? Who are the sources of funds? 5. What are the potential problems that might be encountered by the business?What are the possible solutions of those problems? 6. What are the socio – economic benefits that can be derived from this proposed business? ? Significance of the Study The result of this study will be beneficial to the following: The Researchers. This study will serve as a basis for developing new opportunities for the future. It will provide them with useful insights in the various aspects of the project feasibility study. The Future Researchers. The information will be useful as a tool or as a reference material in doing similar study in the future. The Potential Investors.To those who would like to engage in this business, this study will serve as a guide for they since it will provide them concrete guidelines on how to start a business. The Government. This study intended to sell products that will definitely give an increase on growth of our economic structure. If pushed through with this project, it would generate income and employment to the city of Cabanatuan. ? Scope and Limitation of the Study This study focuses on the viability of establishing a Make Up Hub at NE Pacific Mall Cabanatuan City, Nueva Ecija. The proposed business is concerned in selling most up-to-date make-up styles and trends.The product will depend on the quality, design and cost-efficiency. It includes an evaluation of the project in terms of different aspects of business: The marketing, technical, manag ement and financial aspects. Definition of Terms Some terms are hereby defined by the researchers for better understanding of the research study. Blemish. It is a mark or imperfection that spoils the appearance of something. Blemish Remover. It is a cream that hides skin blemishes to make it look flawless. Blusher. It is a Makeup used on the face and especially on the cheekbones to give a usually rosy tint.Concealer. It is a facial cosmetic used to cover blemished skin. Cosmetics. This is a powder, lotion, lipstick, rouge, or other preparation for beautifying the face, skin, hair, nails, etc. Eye Shadow. It is a cosmetic available in various colors or tints and applied especially to the eyelids to enhance the eyes. Eye Shadow Base. This is also known as an eye shadow primer, it is type of cosmetic product that is applied to the eyelids before eye shadow. Eyebrow Pencils. It is makeup provided by a cosmetic pencil that is used to darken the eyebrows. Foundation.This is a type of make up which is spread over the skin of the face, usually before other makeup is put on, giving it a better and more even color and hiding unwanted marks. Hub. It is a center of activity or interest or business. Lip Gloss. This is a type of cosmetic product applied to the lips to make them appear shinier and smoother. Lip Pencil. It is a type of colored pencil hat many people use for lining the border of their lips when applying makeup. It is typically put on before lipstick and may make it easier for some people to apply their lipstick evenly.Lipstick. This is a waxy solid usually colored cosmetic in stick form for the lips. Makeup. It is a facial cosmetic as an eye shadow or lipstick. Mascara. It is a type of cosmetic applied to the eyelashes. It serves to thicken and define the eyelashes and may also color, lengthen, or curl them, depending upon the type. It’s usually sold as a liquid cosmetic in a tube and applied with a round brush called a wand. Moisturizers. It is a comple x mixtures of chemical agents specially designed to make the external layers of the skin to make it softer and smooth. Primer.It is a cream or lotion applied before another cosmetic to improve coverage and lengthen the amount of time the cosmetic lasts on the face. Unguent. It is a salve for soothing or healing; an ointment, lotion, cream or balm. Vanity. It is inflated pride in oneself or one's appearance: conceit, such as a vain person. CHAPTER II REVIEW OF RELATED LITERATURE AND STUDIES This chapter presents some literature and studies which are relevant to the present and provided the researchers some insight that helped in accomplishing this study. Foreign Literature The origin of make-up dates back to 3100 BC, during the 1st Egyptian Dynasty.Unguent, a substance used to prevent the skin from drying up due to heat and to avoid wrinkles, was extensively used by people of both genders during that era. The women of Egypt were known to apply kohl to their eyes to give them a smoky look. Antimony or soot was usually used to make kohl. The use of cosmetics and make up was found among Romans also. They grew popular approximately around the middle of 1st century AD. Kohl was now used by Romans too. The cheeks were decorated with rouge. You would be amazed to know that people used to take good care of their teeth along with their skin.For cleaning teeth, Romans used pumice. Henna dyes were used by Persian women for darkening their hair. Pale skin became very popular during the European time. A lot of women used harmful substances to achieve a pale look, which in turn spoiled their skin to a large extent. During the Renaissance period of Italy, women started using lead paint in order to lighten their skin, which in fact proved damaging. Due to the damaging effect, makeup was criticized during the time of Elizabeth I. Cosmetics came to be seen as a threat and people started avoiding them.Except for prostitutes who donned themselves with heavy makeup, people usually shied away from it. The French loved to adorn their lips with red lipsticks, and wore rouge on their cheeks. Though earlier it was repulsed by other countries, eventually it trickled down to other parts of the world also. A lot of people started using herbal products to make cosmetics and makeup. Herbs, flower extracts, vegetable extracts, strawberries, brandy, spring water etc were widely used. Unfortunately pale complexion was still considered royal and so the efforts of most women were directed towards achieving skin lightness.The use of whiteners and blemish removers proved fatal at times. One of the most lethal products was white lead, which not only caused harm to the skin cells but also led to hair loss and stomach problems. The irony is that, in spite of knowing the harm they are causing to their body, women continued using dangerous cosmetics like white lead for the face, belladonna for the eyes, and even mercury and nitric acid. Shockingly enough, coal tar was used to dye hair. Even today a lot of people use harmful cosmetics, though thankfully the focus is shifting towards safer products. Foreign Study (Kim Carollo)According to Kim Carollo in Oct. 4, 2011 in his study entitled: â€Å"Makeup Makes Women Seem More Competent†, wearing makeup has a significant impact on how people perceive women, making women seem more attractive, competent, likable and trustworthy, according to new research published this week. Researchers at Procter & Gamble, Massachusetts General Hospital, Harvard Medical School, Boston University and the Dana-Farber Cancer Institute showed study participants photos of women either wearing no makeup or wearing one of three different cosmetic looks – natural, professional or glamorous.In the first study, subjects were first shown images of women, who were of different ages and ethnicities, for 250 milliseconds. In a second study, a different set of study subjects looked at the same photos for an unlimited amount of time so they could carefully inspect each face. Study participants then rated the women in terms of competence, likability, attractiveness and trustworthiness. â€Å"We found that when faces were shown very quickly, all ratings went up with cosmetics in all different looks,† said Nancy Etcoff, lead author and associate researcher at Massachusetts General Hospital. The women were judged as more competent, likable, attractive and trustworthy. † But when subjects had the chance to examine photos for a longer period of time, the same perceptions didn't carry over. â€Å"When they got to the more dramatic makeup looks, people saw them as equally likable and much more attractive and competent, but less trustworthy,† Etcoff said. â€Å"Dramatic makeup was no longer an advantage compared to when people saw the photos very quickly. † Etcoff said the study findings should serve as a message to women that cosmetics could have an impact on how people perceive them in ways beyond physical attractiveness. In situations where a perceiver is under a high cognitive load or under time pressure, he or she is more likely to rely on such automatic judgments for decision-making,† the authors wrote. â€Å"Facial images appear on ballots, job applications, web sites and dating sites. † Local Literature First, makeup serves to enhance what’s already there. I never cease to be amazed at how just the littlest amount of mascara (one of the two items I am never without, the other being lip balm) make my eyes stand out just a tad bit better, or how a swirl or two of blush makes me look more awake and alive even after a late night out.Makeup takes what Mother Nature gave you and works with it so that you look like a better, more polished version of yourself. Second, makeup is one of the many ways by which I can express myself. At work, my looks tend to be more sedate, although I do a smoky eye every now and then just to liven things up a bit. Howeve r, when I go out with family and friends, I tend to favor more colorful combinations (purple and plum shadows with teal eyeliner, you get the picture).And while we’re on the topic of self-expression, I might as well say that I have a lot of respect for those artists and enthusiasts who are able to come up with avant grade looks (i. e. makeup that you wouldn’t really wear to work or any other real-life situation, unless you’re a runway model). Makeup is an art form, after all, with creativity and imagination setting the limits. Third, you can work with as few or as many products as you desire or feel comfortable with. Sometimes when I do makeup on myself or on other people, I find that I will use four or five eye shadows to achieve the effect I want (and that’s just the eyes).However, if for you a made-up face consists of using only concealer, powder, and lipstick, that’s fine, too. If there’s one thing I’ve realized over the years, it ’s that there is no fixed rule on the number of products you â€Å"need†. Magazines and websites can go on and on about how a product like, let’s say eyeliner, is essential to anyone’s arsenal. But if you know that you’re not going to use it, why buy yourself a tube? In the end, it’s about using products that work for you and your lifestyle. It’s about creating a look for yourself that makes your day just that wee bit brighter, your stride a bit more confident.Local Study (codenameaya) Giveaway: Make your skin care wish come true with HBC by codenameaya posted July 2, 2012. Why do you wear makeup? Well, let me tell you why I do. I believe that makeup can do wonders. Wearing makeup makes me feel better about myself. It's my confidence-booster. Call me vain but of course I want to look good in front of other people, and makeup can help me achieve just that. Now the next question that arises is this: Why is there a need for me to wear ma keup? My skin is far from perfect.I have already told you my skin history when I posted about my *skin care routine* (which needs updating, btw) before. I had a lot of pimples during my late elementary and early high school days, and that made me feel really insecure about my face. Then after what felt like forever, thanks to the different products I used, the pimples started disappearing and my face started clearing up. Now, these are some of my main skin concerns: uneven skin tone, oiliness, redness esp. around the nose area, blemishes here and there. This is why I like to wear makeup. It temporarily addresses my skin concerns.Emphasis on temporarily, i've come to realize that although makeup does well in concealing my imperfections, I still should not forget to take care of my skin. I should be doing something to keep my skin clear and healthy and not just be covering it up with thick layers of foundation all the time. I can't just wear makeup every time, you know. Sino ba naman ang hindi gusto ng super gandang skin, na parang naka-makeup ka na kahit wala ka namin makeup? There are now so many products out there that can help us take better care of our skin. We just need to be careful in choosing which ones to use.We first have to know what we need to fix for us to know how to fix it. Justification of the Study The researchers worked hard to search for any available material to support and establish the foundation of this study. This proposed study entitled â€Å"Make Up Hub† business in N. E. Pacific Mall, Cabanatuan City is an original work of the present researchers and is considered to be the first study of its kind conducted in Cabanatuan City, Nueva Ecija. According to the data gathered by the researchers, no similar study was found available. Therefore, the researchers concluded that this study as an original one. CHAPTER IIIRESEARCH METHODOLOGY This chapter presents the research methodology, used by the researchers, the procedure in gathering data as well as the sources where the data and information were taken from. Method of Research Used The researchers utilized descriptive method in this study. It is a fact finding with adequate interpretation. Gay (1976) defines the descriptive research as involving collection of data in order to test or to answer questions concerning the current status of the subject of the study. Research Locale The researchers will conduct their feasibility study in NE Pacific Mall, Cabanatuan City, Nueva Ecija.Data Gathering Procedures The researchers used the following technique to ensure the reliability of facts as presented in this study: Documentary Analysis. Is a social research method and is an important research tool in its own right and is an invaluable part of most schemes of triangulation Observation. The researchers used this method to observe the location site of the proposed study, visited some of the business establishments and tried to observe the characteristics of the target ma rket. Interview. It will provide the researchers the necessary facts needed in the pursuit in the search of the project under study.Proponents will be able to gather information regarding in the establishment of the proposed business by conducting interviews in a more or less informal conversation so as not to intimidate the interviewee. Survey. The researchers asked people about existing prices, conditions and processes. They performed market survey to find out the kind of makeup people buy. It helps in determining factors that affect the buying habit of the buyer as well as pricing of the product. Statistical Treatment of data Sampling Technique. The researchers used Slovene’s formula and convenience sampling.Convenience sampling is used in explanatory research where the researcher is interested in getting an inexpensive approximation of the truth. Formula: N = N 1+Ne2 Where: n = is the sample size N = is the total population E = is the margin of error Financial Treatment o f Data In determining the feasibility and viability of the proposed business, various tools will be adapted. 1. Payback Period This is the length of time required by the project to return the initial cost of investment. It emphasizes managements concern with liquidity and the need to minimize risks through a rapid recovery of the initial investment. Formula:Payback Period = ____Net Investment_____ Ave. Annual Cash Flow 2. Return on Assets It is a useful tool for monitoring both the result of operation and efficiency of asset management. ROI is probably the most common measure used to evaluate the performance. Formula: Return on Investment = ___Net Income___ Total Assets 3. Net Present Value It represents the ratio of the net income over the initial investment of the proposed project. It will be used to determine how much returns would be generated by the investments of the owner of the project based on net profits. Formula: ARR = Average Annual Net Income x100% Investment