
Picking up supplies with my bicycle
In the past few months, I’ve been thinking about business growth. This year has been good and positive and has shown me that there is potential to grow. My challenges are making a profit on wholesale sales because I did not really start with wholesale in mind. I like to keep my items affordable for my direct retail sales while still be able to continue working with wholesale customers. I know this is a problem for many of us handmade types that started our small ventures with other things in mind. Thanks to Etsy, I’ve been able to test my products and to grow more than I expected. So these days I find myself strategizing and reading as much as I can about how I can grow, make a profit, and budget for a salary.
To grow in 2010 I will have to:
- raise my prices so I can make a profit on wholesale
- figure out my competitive advantage that will justify price increase and marketability
- focus on increasing direct sales, that is my online sales and craft show sales
I plan to achieve the above by:
- strategic and consistent online paid advertising
- free advertising – contacting blogs with new lines, press releases to local media
- increase show schedule to 6 – 8 shows throughout the year (including the US)
- design my own fabric to meet my competitive advantage and continue to focus on linen made products
- expand my product line e.g. offer more household items (through my survey, I have found that people would like me to offer a few more things and I wouldn’t mind expanding)
- apply for a line of credit or a business loan that will facilitate growth
- get sewing help to increase productivity
- budget for a salary for myself so I can focus on design and marketing — doing everything yourself is unrealistic
- improve bookkeeping and accounting processes
Major Challenges:
- crossing the US border with goods – needs research on customs procedures and laws
- deciding on a profit margin that will still make my wholesale clients happy, some suggest that you double your COGS to get your wholesale price but that would end up making my retail too high, my current small wallet would end up costing $46 compare to $23 now
- finding reliable, detail oriented seamstresses (this is harder than I expected)
- getting financial information ready to approach lenders with
Some of my Resources:
- Women’s Enterprise Centre – Canadian focus but lots of info for any nationality
- Small Business BC – as above
- Vancouver Grassroots Business Association – a local meetup group, going to my first meeting next week
- The Boss of You – a book for us handmade types by two local women Emira Mears and Lauren Bacon


























