Have you ever thought about how exciting it would be to start your own business? Chances are you have come up with business ideas and evaluated potential opportunities, but you were unable to put your business ideas into action. Risks such as losing your investment or current job may have thrown you off course, however, whatever the reason might be, every small business needs an initial investment to take off – and students from the Fashion Management program proved that it doesn’t have to be that much!
In our Current Issues in the Fashion Industry class, we were given a very interesting assignment; to organize a micro venture with only $10 as the initial budget. We want to share with you some of the unique ideas our fellow students came up with:
- Vintage clothing pop-up shop.
- Eco-friendly sustainable bags made from organic cotton
- 100% natural organic homemade lip balm
- Daily shots of vitamin D and detox drinks for harsh winters
- Nail painting service on campus
- Henna tattoos
- “Favor” business
- Make-up sketch contest with all the money donated to charity
The challenge of starting a micro venture was to address common issues entrepreneurs may face during a business startup and learn to deal with problems and generate profit in a limited time frame. Not only it was a fun activity to participate in, but all the students succeeded in their enterprises: some of the businesses generated more than $150 in profit after operating just for 2 weeks! Regardless if you plan to open your own business now or in the future, or even if you are not sure if you want to become an entrepreneur (we know it’s no piece of cake), we hope these ideas will inspire you!
