Freeman introduced new products exclusively for beauty salons and recently introduced a line of "crystal clear" hair-care products to cash in on that new fad. Freeman Cosmetics still spends heavily on advertising--about 15% of total revenues, compared to the typical 6% to 8% spent by other cosmetics marketers.
Today, with the company's health restored, Freeman said he is exploring options, including a public offering of stock. But, like most entrepreneurs, he admits it might be difficult for him to give up control of the business he created.
Biodegradable Bags Wins Venture Award
A proposal to create a company that manufactures biodegradable plastic bags won first prize in the 1989 UCLA Venture Proposal competition, an annual contest to elicit ideas for new businesses. Michelle Barefoot and Robert Wunderlich came up with the idea for the plastic bag company. Second place was awarded to Daria Kurkjy for her plan for a community child-care center. The winners are students at the John E. Anderson Graduate School of Management. Their work was judged by a panel of venture capitalists and entrepreneurs. The winners will share $5,000 in prize money donated by the Price Institute for Entrepreneurial Studies.
Summer Classes for Business Owners
Everywoman's Village, a nonprofit learning center in Van Nuys, is offering several summer classes of interest to all business owners. The 15 classes starting the week of July 17 include information on how to invest in the stock market, how to plan for retirement, how to start a business and how to run a personal computer. Class fees range from $20 to $72. For a free catalogue write: Everywoman's Village, 5650 Sepulveda Blvd., Van Nuys 91411, or call (818) 787-5100.