Pucker Up Update

So far this week we have been trying to finish our mini business plan and convert it to a formal business plan.  We finished the mini business plan on Wednesday and are in the actions of transferring it to the paper business plan and the presentation.  Originally we were just presenting to our class, but now we have to present to a large group of important faculty and people at Flint Hill.  There is a lot of work to be done before we actually present to the board including making our product, but we have all of spring break to complete the presentation.  We plan to meet with each other on Monday, March 16th to make the product.  This is the only day that will work with all of our schedules, so we need to accomplish our plans on this day.

We have also been trying to complete and order our labels for the chapstick tubes.  It is hard to find a good label maker that is a good price.  There is also the issue of the coloring of the label.  We designed a good looking label that had a good color spectrum, but after further discussion we also thought that our pallet would not look good on our white tubes and the color of the caps.  I think that is we made three different labels for each flavor it would be the best looking, but it will also be the most expensive option.

All of the ingredients came in throughout the past week, which is very exciting.  The only thing remaining is the labels and we have $56.28 remaining in our startup budget of $200.  Below is a screenshot of our spending so far.  As we continue to sell and make the lip balm, we will add our spending and earning to this document.  After calculations we can break even after we sell 80 units of product.