for people who own their own businesses?

Question

Hi,

I am considering setting up firstly an online shop, then expanding and buying a shop if all goes well. It would be selling items i craft myself amongst other things, so its something i feel rather passionately about.

In your experience is owning your own businesses what its cracked up to be? Is it all worth it? What would you say are the best and worst aspects? and if you could do anything differently what would it be?

many thanks

Answer 1

Getting a shop is a huge change from selling on your own or via the internet. You'll have a steady outgo of money every month just with the bare bones necesseties like utilities, salary, rent, etc. I never wanted to get into that part of it and kept mine just from home.

You'll be limited with what you can produce and how much, as well.

Stay passionate about it! Find your niche markets and cater to them. The internet literally opens up your sales to the world. I do one large event, three or four small events, I wholesale to three people and get orders via the internet. If I want to expand, I've got plenty of places locally I can wholesale to. But since I've got a day job as well, I'm not overextending myself trying to keep things that heavy. It just leads to burnout.

Is it worth it? Of course! Always always always buy wholesale if you can, for your raw materials and office supplies. Have a backup vendor you can reach in case one of your primary suppliers goes out of business. Price everything--even shipping boxes--to get the best deal.

Answer 2

If I were you I would keep going. Working for someone else can be just as bad or worse. You could go to work one day and get fired for no reason and then where would you be. In today's workplace people aren't respected nor does their work experience make a difference. You are much better off working for yourself. You know you can count on you and you won't fire yourself. Some people can be anal, but you will always have those. Just smile and keep on keeping on.

Answer 3

Owning your business is a great feeling. You first need to do research. Is your business going to supply what people want? Before you do that I suggest you go to www.madebymaryandfriends.com and contact her about putting yout merchandise on her site for a small fee. Thats a start before starting an actual business. She's a good friend of mine. Just let her know Jason sent ya.

Good Luck!

Answer 4

I've been a business owner for just over a year now... Coming from a background of a single mom working 12 hour rotating shifts I would have to say that owning my own business is absolutly wonderful!!! I set my own hours... I decide my income... What more could I ask for? I wish you much success with your business!!