Hi! First of all, thank you for spending your time reading about my business story.
My name is Wan Nur Munirah and my partner is Muhammad Noor Ikhwam. We are both from Malaysia. While I just graduated from a university in Australia, my partner is still studying there. We are very passionate about business and due to our passion, we have started a small online business.
- Our business name
20Fus (pronounce as Thor-fus). It means 2 (two) 0f (of) us or two of us. We named it that way to recognize my partner's and my effort to establish this business.
- When were 20FUS established?
20FUS is established early of this year (January 2016).
- What are we selling?
For the time being, we sell authentic cosmetics and perfumes that we bought from drugstores in Australia and sell it in Malaysia.
- How much do we make?
Given the restricted budget that we have as students, we manage to make only around 700-800AUD since we started our business early this year. However, this is for us is considered as a good start because we only invested around 200-300AUD for this business.
- What are our business issues?
The first (1) issue is; we are short of money to invest in our business since both of my partner and I do not have fixed income yet. (I just graduated from uni and currently unemployed while my partner is still studying)
Secondly (2), we realized that in order to get to buy perfumes or cosmetics products at a lower price so that we can meet our aimed margin, we have to buy directly from manufacturer or at least from 3rd or 4th supplier instead of buying them in bulk from drugstores (where the price is already marked up). To do that, we need bigger capital to meet supplier minimum order.
- What are our medium?
For the time being, our most active medium to reach and market our business is through our instagram account: @20FUS (300+ followers). In addition to that, we recently have set up a website (20fus.com) and a facebook page (20Fus).
- What are the pros and cons of our business?
Pros: (1) We sell products that mostly do not have expiry dates so we do not have to worry about our ready stocked products being expired. (2) Demand for perfumes at affordable prices are high in Malaysia. (3) We recognized our targetted customers so it is easier for our business to expand.
Cons: (1) We are quite new in business world. So, not many have heard or known about us.
- What are our short-term business vision?
To have more ready stock perfumes and cosmetic products to be sold to our customers. To reach our targeted profit in 4 months ( 4000AUD/12000MYR)
- What are our long-term business vision?
We wanted to one day own a physical store selling cosmetic products and perfumes at good prices and expand our business worldwide. We also wished to provide franchise business opportunities to those who are interested. Other than that, we hope our business growth and expansion will help to provide job opportunities and reduce unemployment rate in my country.
'We start small and want to get bigger!’