Overview–
Your animated companion will orient you to the page. Then, head to Aphrodite’s Boutique to see where she sells aromatic products.
Even Aphrodite needs to make a living. She knows her customers and what they need on the Apprentice Ship. She has set up the boutique accordingly.
There is much to read and think about in this segment. Your class projects, thesis, work placement, or product development will let you dip your toes into aromatic work to see if you want to take your hobby further. Below is a small Voki video about the benefits of working at home. There is also a journal package to download at the end of the page.
Introduction-Video Develop Your Own Business?
A business resource used for wholistic students at MacEwan University, where we previously taught, was Business Mastery: A Guide for Creating A Fulfilling, Thriving Business and Keeping it Successful, by Cherie M Sohnen-Moe. I recommend this book to someone who has the time to read about this important topic.
Nowadays, with resources from artificial intelligence, you might also ask Chatgpt about everything from product design to marketing. It can also help with creating a marketing plan. But we will go old school here.
Here is a straightforward business plan-
Business Plan
Name of Company
Business Plan
Date
1. Mission Statement – Broad, philosophical, encompassing statement of what you do as a company.
2. Business Description—Provide a more practical description of your business and the channels you wish to use.
3. Goals – Short Term Objectives:
(a) What will you do this year? This month, this week, today.
(b) Prioritize goals in order of importance.
(c) Long-Term Goals – Long-Term Dream. Always reflect the vision of what your company is doing in terms of day-to-day goals. Keep sight of what is vital in your business. Ensure your long-term dream is “large” and imaginative enough to incorporate a big vision of your company.
4. Legal Considerations: – With an essential oil business, this category might read like this: Oils may be restricted by the government or taken over by pharmacies due to their effectiveness and potency. Potential lawsuits if anyone misuses oils. Ensure labels and brochures give adequate warnings about allergies, pregnancy, asthma, skin contact, and epilepsy. Be sure to understand government regulations before creating a product for sale.
5. Products and Services – Could you describe what you will offer in detail?
6. Sustainable Competitive Advantage. What are your unique points? What do you offer that no one else in your area does?
7. Industry Analysis – Trends that support what you are doing. i.e.
(a) Urban environments with little exposure to nature prompt people to gravitate to natural scents.
(b) Growing knowledge about how scents can enhance physical and mental health.
(c) Increased consumer knowledge of the hazards of commercial body care products spurs consumers’ desire to create their natural care products.
(d) Success of related companies such as The Body Shop
8. Competition Analysis-
(a) Local:
(b) Provincial:
(c) Western Canada:
(d) National:
(e) International:
9. Marketing-
Who do I tell?
Where do I advertise?
How do I get my message out?
Your Companies Marketing Goal.
Approach:
10. Management and Organization – Who owns the company, shareholders, managers, producers, and salespeople.
11. Finance –
(a) $$ Needed to open.
(b) For an established company. What money is being made from aromatherapy? Break it down to the different segments of the operation. What aspect of the business makes the most money? Can other areas be improved or dropped?
12. Conclusion-
13. Executive Summary – A short 2-paragraph version of the pertinent points made in the Business Plan, designed for someone to read in a couple of minutes.
The following resources are free for students in Alberta. What is available for students in other provinces and countries in your local area? We have included some options in the Practical Potions Journal; the downloads are below. Peruse through and see if anything appeals to you. Keep it relatively simple and sustainable.
Choose partners you completely trust in your business, or do it alone! To start, be conservative with money and what you know. But keep your dreams paramount and create what you love to do as you go. Your life is much too precious to waste on doing something you are lukewarm about.
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Self-Employment and Small Business Working for yourself has great rewards. It also comes with enormous challenges. You need to know and weigh the advantages and disadvantages of being self-employed. Video- Advantages of Working For Yourself- Please Press Play There are also disadvantages to working for yourself:
Starting your own business is more than having a good idea or a willingness to work long daily hours. It would be best to have good strategic information and a well-thought-out focus on building your revenue stream. Charles The Perfumer Suggests Ways to Thrive in the Workplace
A Summary of Advice for Aromatherapists In the WorkPlace
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Go To Your Practical Potions Journal below for many other downloads and ideas.