Business Report

1.Introduction
-The name of our enterprise is Happy Oils.
-Our business idea came about because we noticed that many
students in our college complained about being too stressed and
anxious. This inspired us to come up with a solution so with the
help of Marta's mother (who is an aroma therapist) we came up
with a solution. That solution was a blend of Grade A Essential
Oils that one, helps relieve stress and anxiety and two, help you
focus when you need to study.

2. Summary
-Our choice of product was a good one. It benefits many people. It
sells well as people are open to trying new odd things.
-Marta's mother is an aroma therapist. She uses a lot of doTerra
Therapeutic Essential Oils. She makes her own products using
these oils and two of these products are the Anti -Anxiety/ Stress
Oil and the Concentration Oil blend.
-I, Marta, had knowledge skills as I knew all the detailed
information about the products. I had to learn speaking skills as I
have anxiety myself and do not talk to people well. However,
thanks to the oils it helped me relax and I was able to talk quite
well to customers. Alex had marketing skills, he lured customers
to our stand and made a connection with them. He also has
outside connections like his youth club where he sold some of our

product. Alex learned packaging skills as he very nicely designed

the labels and applied them to our product.
-We sold our product to students and teachers at our school craft
fair. We also sold it to our friends and our friends parents.
-We designed posters and put them all around our school.
-Our only risk was investing money into our product. Even with
doing our market research, people might not react as well to a
product as they did in our surveys. They might've thought there
was no chance it would work.
-One of the difficulties we had was when one of our concentration
oils spilled in the bag and damaged the labels. Because oils are
slick they removed the adhesive of our labels, therefore our
concentration oil looked very plain and did not sell as well.
-Our product made a loss. The oils are quite expensive to buy and
we had to pay 50 each. At the craft fair we made around 30
with a few sold at the side to friends and family.

3. Business Structure
-The members of our enterprise team are Marta Nieborak and
Alex Coppinger.
-Marta was responsible for the production of the oils. Alex was
responsible for the design of the oil. We both took part in the sale
of the oils.

4.Products/ Services
-Our two products are Therapeutic Grade A Essential oils. They
are made of specific blends to help relieve anxiety/stress and one
to promote concentration. Our anxiety oil has a strong aromatic
smell therefore it can also be used as a perfume. Our

concentration blend has a more mellow aromatic scent but can

also be used as a perfume.
-Our product was innovative. We came up with a solution to
relieve anxiety and stress and a solution to promote concentration
without having to take any medication or drink energy drinks. The
oils are 100% safe, some of the oils are even safe for human
consumption but not when mixed together for our blend. Our
product was unique as nobody else would have thought to make
something like our product.
-We made a few minor adjustments to our product as a result of
market research. More people said that they would buy our
anxiety/ stress oil. Therefore we made more of that product than
our concentration oil. We adjusted the retail price to suit our
consumers.
-Anxiety Oil
For this oil blend we used two blends, Balance and Serenity.
Balance is made up of Spruce, Ho Wood, Frankincense, and Blue
Tansy essential oils. Serenity is made up of Lavender, Sweet
Marjoram, Roman Chamomile, Ylang Ylang, and Hawaiian
Sandalwood essential oils. We mixed those with a carrier oil
which was used to mix all the oils together. For this product we
used Sunflower oil as our carrier oil. We used 6 drop of both
essential oils and 21.4 drops of carrier oil. We put all of these into
small 2ml bottles. We secured them with the caps and shook each
one 200 times to make sure it was properly mixed together.

-Concentration Oil
For this oil blend we used one blend and carrier oil. The essential
oil blend we used was Intune. It is made of Amyris Bark, Patchouli
Leaf, Frankincense Resin, Lime Peel, Ylang Ylang Flower, Hawaiian
Sandalwood, and Roman Chamomile Flower essential oils. Our
carrier oil was the same. We used 16.5 drops of Intune and 30

drops of carrier oil. We put all of these into small 2ml bottles. We
secured them with the caps and shook each one 200 times to
make sure it was properly mixed together.
After both oils were mixed, we cut out the labels and stuck them
onto the bottles.
-One of our difficulties was designing the labels. We had to make
sure the writing was coherent yet the right size for our bottle. We
had to make sure our labels weren't too big or too small.
-Our product is unique as nobody else has an essential oil blend
they can use to de-stress or help them concentrate. It also has a
very nice scent which makes this an even better product.
-I (Marta) calculated the prices for our product. I had to calculate
the price per drop of each oil including the carrier oil. Then I
calculated the price of all the drops per bottle. I got the price of
the bottles and the bags we used to package them when given to
customers. I added all those prices and then to make a profit I
added 1 or so to the original price.

-Unit Pricing
Carrier Oil
I had a 500ml bottle of our carrier oil which cost 10. 1ml of it was
16.66 drops, therefore one drop was 0.06 ml.
0.06 ml x 500 ml = 30
500/0.06 = 8333.3 drops
8333.3 = 10
21.4 x 10 = 214
214/ 8333.3 = 0.026
0.026 = Price per drop

Anxiety Oil
A 2ml bottle contains 6 drops of Balance and 6 drops of Serenity.
One drop of Balance is 0. 648 and one drop of Serenity is
1.092. The carrier oil is still 0.026 per drop, and there is 21.4
drops of it in a 2ml bottle.

Concentration Oil
A 10ml bottle of Intune (the oil blend) is 20.23. If a 20ml bottle
would cost 24.546 then divided by 10 it comes to a cost of
2.455. In a 2ml bottle there are 16 drops of Intune which costs
1.952 (0.122 x 16) and 30 drops of carrier oil which is 0.78
(0.026 x 30)

Bags & Bottles

We ordered 100 bags which cost 3.64 so 1 bag costs 0.034. The
price per bottle was 0.28.

Overall pricing
Adding all the drops, the bottles and the bags the original price
for the Anxiety Oil was 2.08. Our retail price was 3.50. The
original price for the Concentration Oil was 3.046. The retail
price was 4.

5.Marketing/Promotion
-The main customers we were targeting were teenagers that were
often stressed or needed help concentrating.
-The majority of our customers who bought our product were
teenagers that were often stressed or needed help concentrating.

Although a few sales were made to adults who suffered the same
issues.
-We were fairly flexible with the prices of our product. An example
of this would have been selling two of our products for 5 euro as
opposed to the products being sold for the same price they would
have individually.
-We did a survey for all the year groups asking 100 male and
female students who suffered from stress and then who suffered
from anxiety these were the results .

Males

Neither; 9%
Anxiety; 27%
Both; 18%

Anxiety
Stress
Both
Neither

Stress; 45%

Female

9%
9%

27%

Anxiety
Stress
Both
Neither

55%

-Our business idea was unique and ergo had no competitors in

this sector.
-We promoted ourselves by creating several social media profiles
such as Instagram, Facebook and Twitter. We hope to grow a
following on these social medias to help promote or product.
Another thing we did to promote our product was hang up posters
around the school. We encountered no copyright issues that We
are aware of. We created our logo on a free logo creating website.
-As of now we are still trying to perfect our social media accounts
so currently we have no customers as a result of this.
-We used our social media to promote our product by posting
pictures. As of now we are still trying to gain a following.
-Our social medias are @happy_oils on twitter and
@happyfingaloils on Insta and Happy Oils on Facebook.

6.Finance
-For our finance setup we decided to each put 50 into our
product. This would count for the oils, the bags, the labels and the
bottles.

Number of Items
Sales
Investment
Loans
A. Total Income
Expenditure
Labour
Bags
Bottles
Anxiety mix
Concentration mix
Labels
Posters
Phone Calls
Travel
B.Total Expenditure

Novem
ber
40
0
100
20
100

Decem
ber
0
30

0
3.64
9.2
41.6
60.8
2
0
0
0
117.24

0
0
0
0
0
0
0
0
0
0

30

-We have included details of our pricing. The original price for the
Anxiety Oil was 2.08 so our retail price was 3.50. The original
price for the Concentration Oil was 3.046 so our retail price was
4
-

7.Review/Conclusion
-We got on well as a team because we were friends before
beginning this enterprise Communication was open and easy.

-We overcame the difficulty of stress as a team. We discovered

that talking calmly together and finding a solution was better than
Stressing out and getting angry. Our product also helped with this.
-We both developed new skills and are grateful for this
experience. Throughout this process we learned communication
and social skills. Another skill that we learned was marketing our
product to the public.
-Our business will not continue trading. It doesn't make enough
profit.
-