Introduction
From rainbow color to sparkle-filled, the demand for slime has increased in the last couple of years, which is the primary reason for choosing this business. Despite the appealing advantages of starting the slime business, there are some obstacles to overcome, requiring dedication and commitment like any other enterprise. In this essay, the focus will be on the motivations for setting up the slime business with further discussion of the possible issues arising in a start-up phase.
Main body
One of the first things to note is that the slime manufacturing process does not prescribe high-cost ingredients. To be more precise, the most primitive type of slime includes water, glue, borax, and shaving foam. In addition, the production procedure is easy to follow and understand as it only involves mixing all of the components in the right order. Secondly, the business is not seasonal, meaning that the demand does not fluctuate. Moreover, with a broad access to social media platforms, the target group can be reached and analyzed, facilitating the work. According to Colwell, access to social networks akin to Facebook or Instagram, where special advertising programs suggest “interesting insight into trends and interrelated customer attributes,” can reduce promotion costs (33). Therefore, the slime business is a low-cost production enterprise luring customers across the web.
In spite of the attractive opportunities, there may be some difficulties in the beginning stage of running this business. Provided that the product’s demand stays strong, a high level of competition is expected in terms of quality, range of products, and prices. Thus, it may be an utmost constraint for the business in the starting phase with no customer base or experience. Additionally, the product trend can go down in the long run as consumer preferences are always changing. Hence, severe competition and future uncertainties appear to be the area of great concern.
Conclusion
In conclusion, it should be noted that the perspective of the slime trade is enticing due to its popularity. What is more, the straightforward manufacturing process comprising low-cost elements and easily reachable customers constitutes reasonable points for starting the slime business. On the other hand, with the excessive demand, the intense rivalry between suppliers, and the future instability, it may be challenging in the initial stage.
Work Cited
Colwell, Ken. Starting a Business: QuickStart Guide. ClydeBank Media, 2019.