$10 Dollar Business!

April 17, 2011 at 5:59 pm 7 comments

Every entrepreneur has one very stressful problem during the start-up of their business. This problem is: how are we going to get money to start our business? For our Creative Entrepreneur class this semester, we were given the task of starting a business with only $10.00. My partner for this project, Krysta Foster, and I decided that we wanted to do something fun that would also involve the students at Lawrence Technological University. One thing students look at and go on every day is Facebook. Because of this, Krysta and I thought it would be a great idea to host a photo photo day at Lawrence. It would give students a chance to take a new photo for their Facebook or Twitter while also allowing us to help them be expressive. Our photo day will be this upcoming Wednesday, April 20 in the atrium of the Buell Management Building at LTU. We are going to have different costumes and props to give people the chance to be creative. We have a Minnie Mouse costume, crazy hats, plastic swords, grass skirts and coconut bras, a giant wooden giraffe, empty picture frames and much more.

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We knew that starting a business with $10 dollars would not be an easy task, so we though strategically about how we could spend the money. With this type of business, the place where we could most efficiently spend the money and find great props would be the dollar store. We have spent $10 dollars at the dollar store and we are also bringing things we already have from home. We will be charging $1.00 per photo/per person and $5.00 for 4 photos. We will be offering people three options for receiving their photos. They can either choose to have the photo emailed to them, pick up their prints the next Friday, or they can choose to have both options for an additional $1.00. The school semester is ending and soon people will be heading home for the summer, and this will hopefully give them a chance to make a few more memories before the semester ends. Does anyone have other ideas that we could use for our photo day? Do you think we thought of a strategic plan for our $10 dollar business?

Alexandra

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7 Comments Add your own

  • 1. Steven J Klein  |  April 17, 2011 at 6:25 pm

    We will be charging $1.00 per photo/per person and $5.00 for 4 photos.
    That doesn’t sound like a good value proposition.

    Did you perhaps mean 5 photos for $4?

    Reply
  • 2. alexandraheight  |  April 17, 2011 at 8:28 pm

    No I meant $5 dollars for 4 photos. The other photos will be $1.00 per person/ per photo, so if there are two or more people in one photo they each pay one dollar. If they wish to take up to 4 photos, they can pay a flat rate of $5 dollars.

    Reply
  • 3. alexandriamisr  |  April 18, 2011 at 2:40 am

    I think it is a good idea. People will come because everyone can see them acting silly. What happened to the other idea I overheard in class? I thought that would have been very interesting.

    Reply
    • 4. alexandraheight  |  April 18, 2011 at 4:16 pm

      I’m not sure what other idea you are talking about, but thanks for the positive comment! We are really excited to get the ball rolling in a couple of days!

      Reply
  • 5. Nick George  |  April 18, 2011 at 6:51 am

    I think this is a great idea! I really think you did well on trying to find something unique to do with a limited budget. Using Facebook as your marketing tool is a great idea as well. Since so many college students are on Facebook, you found a great way to generate awareness about your event with little cost. I’m excited to hear about how your event goes on Wednesday….good luck!

    Suggestion- What if someone wanted special effects on their photo? Do either of you have access to photo software where you could make photos black and white or add things in? This might be of value to students but would take more resources.

    Nick

    Reply
  • 6. alexandraheight  |  April 18, 2011 at 4:18 pm

    Thank you Nick! I know that my camera has some different affects that I can use to change the look of the photo, I believe that Krysta does as well. If we will be emailing the photo to someone, we can also use the software that allows you to edit photos on a computer which I also have. For the printed photos, we will be taking them to CVS where they charge 10 cents, and you can also do some editing there as well. Hope to see you come out Nick!

    Reply
  • 7. Nick George  |  April 19, 2011 at 8:57 pm

    It sounds like you have everything covered Alex! Unfortunately I can’t make it out tomorrow because I will be at work but I wish you and Krysta the best of luck!

    Nick

    Reply

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