OPENING A SOAPMAKING RETAIL SHOP Part 3

Questions to ask your self  BEFORE you get into the RETAIL business

Dreaming Big in the Retail Soapmaking Business

Dreaming Big in the Retail Soapmaking Business

Welcome to part 3 of the Opening a Retail Soapmaking Shop-

So this brings to me to the HARD QUESTIONS that you  need to ask yourself before you get into the RETAIL business.

Are you using the “DREAM” of owning a retail shop to cloud your judgment?  We’ve all been here before— that’s why we got into business in the first place.  We were all dreaming of owning a cool bath and body business like “XZY” down the street and dreamed of how happy you would be once you had it.  But don’t get sold on the “IDEA” of having business, do you research and find out what the day-to-day operations will be like.  It is HARD work and involves a lot of time.

Can you afford it? Do you have enough income to cover overhead just in case?   I had a backup plan that included sales from difference resources just in case I didn’t have  sales for that month. You will need enough to include your rent/lease/utilities/maintenance expenses. Money is scarce and it’s tough getting business credit. Credit cards helped me getting started with the basic start-up costs involved with opening a retail shop. Most of my income coming in my business got rolled back into the business for a few years.  A portion of it continues to get rolled back into the business today.

A few tips: In the beginning a landline phone is not necessary, you don’t need an  internet connection in your new place either or  pay for regularly scheduled picks from UPS and FEDEX.  Save those for later on when your business is established and making money.  Use the “Square”  for all your credit card transactions and your business cell phone as your regular line.

Do you have unlimited time to invest in your retail shop?  Post your  hours and  be present/open during those times.

Competition-  This should be included in your feasibility studies and it will give you a good opportunity to scout out the competition.  I would inquire discreetly how well they are doing. You could learn from them and adjust your ideas before you get started. You could also ask your small business rep to see if they know them; maybe they could give you insight on what to expect.

Conduct your own market feasibility study to see if your idea will be supported in your community.  {A feasibility study evaluates your project’s potential for success as it examines the marketability of your product}

Your SBA office should be able to help you gather the data to support it. Find out if your “DREAM” idea will bring in the money or send you into financial ruin.

Links for you to check out!

What Is Product Marketability?

31 Days to Build a Creative Business

 

Need Custom Posters?


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I’m getting ready for one of my biggest selling seasons yet! Or at least I hope so. This year I am giving my booth a boost!  Sharing my love for photography and soap, I printed my photos on large glossy posters that I will display as my back drop for my booth at the Mistletoe Market on November 16 & 17, 2014.

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I found a custom poster retailer online  http://www.shortrunposters.com  that printed these babies up for me!

They did a fabulous job and I wanted to share it with you.

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Upload your photographs onto their online page, choose what features you want and they ship them out to you.  To have a poster printed that is an 18″ x 24″ you will need to be sure your uploaded photo is at least 2700 x 3600 in size.  Their handy uploader guide will tell you if your photo is not at the best resolution and let you view it before you purchase.

I hope you will find them helpful as well!  I can personally say they were very professional when I called to ask questions.

EVERYTHING else was EASY!!

Student Created Mica Glycerin Swirl

Student Created Glycerin Mica Swirl

Sign up for the next advanced soapmaking design class: http://www.mossycreeksoap.com/soapmaking-classes/advanced-soapmaking-design/

This is a perfect way to use the mica glycerin swirl. It has a beachy look about it. If you want to learn more about this kind of swirl sign up for the next Advanced Soapmaking Design in the studio!