There is A LOT that goes into having your own business. And it gets 1000000x more complicated if you hire employees.
There is much more involved than just buying/producing and selling. I handle all paperwork myself, which is dreadful and time consuming. There are emails to send and reply to, receipts to log ( incoming and outgoing, shipping records and labeling, bills to be paid, invoices to collect, calculations of ‘cost of goods sold’ for every product you sell, etc — and you have to keep all those documents organized at all times.
I hate paperwork, so I try to save most of it up for 1-2 days per month. Today is one of those days.
There is of course organizing all of your supplies actually create your products as well. the more organized you are, the easier it is. ( I can’t wait until I hit that arrival day lol.)
Then, there’s the hours for production. For me, that not only includes sewing, but now also buying clothing, cleaning, steaming, hanging, pricing, taking & uploading photos, posting listings, scheduling and running appointments and open hours days, etc.
I’m looking into renting a section of a shop for some of my products. It’s pretty pricey- there is a hefty monthly rental fee (due whether you sell anything or not) and a commission fee for each item that sells. The perk is that they run my section for me during their regular business hours and I can try it out month to month. It is a brand new place, so there’s no way to know yet what type of traffic they will end up with. This means I will probably be in the negative the first couple months. I’m waiting to here back in the upcoming weeks about the rules and regulations, and exactly what I need to supply and how to set it up.
For example, so far I know costs and sizes of space available. I know that I have to set up, restock and take down my products- they only sell them. but I don’t know yet what type of retail rocks I need to supply, and what kind of decorating for my section I’m allowed to do. So, all of that is upcoming paperwork.
Add in my kids and there’s little downtime. 😉
*And* I just got a call and Im off the school to pick up a vomiting child….
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