Eco Project

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  •  Hi, I'm Emily Nava and I'm going to be talking about Market Structures and Business Organizations. I run a Sole Proprietorship, meaning I own this place all by myself! Market structure greatly effects my business. This is a quite competitive market. I run in a monopolistic competition meaning other sellers offer similar products. I have to fight to get the most business since there are other hair salons. 
  •  This sole proprietorship I run gets quite competitive. There is a few other salons around here, and they try and get people to go to THEIR business. I try to advertise and get customers drawn to business.  My products are all cruelty free so I have a differentiation from my products!
  • My friend offered to run this business with me and be a Partnership, but I chose to run this by myself.
  • If we would have chose to work together we would have had to make compromises, and make decisions together. We also would have to make compromises and split the cost, etc.
  • Instead, I make all the decisions myself and I am completely liable for everything that goes on in this salon.
  • Running solely on my own has many advantages. I have flexibility of being taxed, and my own choices. Yet, there are some disadvantages to being alone. I cannot have other opinions, and I cannot pay myself for other wages. 
  • Thank you for listening to me talk about my Sole Proprietorship Hair Salon. Make sure you fully understand market structure and business organizations before starting or becoming a part of a company! 
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