I've done a few shows this spring and there have been some hits and there have been some misses.
First of all, retail shows: I had my first "no sale" show a few weeks ago and, no, I do not what to talk about it. I've done a few other retail shows and they have been fine but in the process of doing these shows I've learned that I have to be more choosy. Don't get me wrong, shows are a lot of fun but they are also a lot of work and take up a lot of my time. As my wholesale business expands, I don't want to spend time competing with my stores in the area and I also don't want to spend valuable time away from my family on the week-end. I'll still do retail shows but I am going to be much, much pickier in the future.
Second, wholesale shows: I went to Albuquerque a few weeks ago to do the Oasis Gift Show there. It was a rather small show but I enjoyed the experience of doing a show out of state and meeting other vendors. The good news about a slow show is I was able to talk a lot to people who have been doing shows for years. I asked them about supply chain, marketing, good shows to consider, reps, forms, growth, and also about how they got into doing what they are currently doing. So great to see people who have turned their passion or talent into thriving businesses. Who have overcome obstacles of all kinds and continue to strive for success. It is inspiring to me and very educational.
Networking aside, I set out what I went there to do and I got a few new stores in New Mexico and some great leads on other avenues to pursue. I also came home and booked an order writing show (which is in a week), signed up for The Oasis Gift show in July. I'm also looking at doing one of the big shows this fall (big meaning Vegas, Dallas, N.Y. and Atlanta). Keeping my fingers crossed that I continue to gain new fans and support for my fledgeling product. I'm a little nervous about my first order writing show but, like everything else, I'm excited to step outside my comfort zone and learn what I need to learn and do what I need to do.
I went to Los Angeles two weeks ago for another fabric shopping trip. With much research (we are talking hours and hours), many phone calls, and a lot of luck, I finally found a fabric supplier that deals in the quantities I need. Halleluiah! I can't even begin to explain what a relief it is to finally have a reliable fabric source! This one piece of the puzzle has been missing for a while and the solution comes at just the right time for my "expansion" plans.
You may want me to explain all the in's and out's of securing these sources. Well, as I have found out, that is something that you have to learn for yourself. No one shares their sources because no one wants you to have the same fabric as them. But, if you really want help I would tell you this: learn the industry terminology. Once I got that down, my searches were more successful and doors started opening. Plus, it doesn't hurt to sound like you know what you are talking about when you are running in those circles. :)
I have twenty prints that are in production and I'm hoping to have all of them done by end of May. I'm also hoping to have most of them sold by the end of May (hey, a girl can dream, right?) With the addition of those who are doing contract sewing for me, I've now outsourced all the production. What a relief not to have to assemble them myself anymore. It was killing me. More help means more scarves which means a more successful business which means...let's just stop at the successful business part for now.
If Spring means new beginnings then Spring is definitely in the air for Curly Q Original and it's owner (me). I am experiencing new adventures, acquiring new clients, discovering new vendors, learning new things, and, most importantly, getting the hang of balancing it all without losing my mind. Yes, Spring is definitely in the air.
Saturday, April 21, 2012
Sunday, February 19, 2012
Taxes and other things
There is always the business side to look at. Making and selling scarves is my passion but I still have to look at all the other things that go into making a company successful.
First off, we applied for a patent and are waiting on approval. The patent award process takes up to 18 months so we do have to wait for the final word. In the mean time, however, Curly Q Original is officially "Patent Pending". What a great feeling!
Also, we've applied for a trademark. Need to protect that original design. The trademark went live a couple of days ago. It is a great feeling knowing my business and ideas are protected.
Taxes. Wow, this is my first year doing business taxes. I don't want to complain too much but I do have to say the government takes a lot of money away from the small business owner. Seriously, they usually get about 1/3 of my profits (and that doesn't even include the sales tax that all my customers have to pay). Ok, done complaining. :)
Anyway, my sweet, financially savvy husband began doing our taxes and, well, with all the rules we decided that it may be best if we hire an accountant. This is our first time using an accountant. I'm glad for the service but, once again, it is another fee to running a business.
So, with a patent, trademark, and taxes it cost the company around $2700 when all is said and done. Fortunately, the patent and trademark will not be repeating themselves every year. I'm actually not complaining about the cost. I have been writing this blog, however, as a way to document my journey as a new small business owner. It seems there are unexpected costs around every turn and I would hope, as people read this, they can learn some of the ins and outs of business so the unexpected might be a little more expected (if that makes any sense).
I'm excited for what this year has in store for Curly Q Original. I'm doing a trade show in Albuquerque in mid March. Hopefully I'll pick up a few stores in New Mexico and Texas while I'm there. I'm also planning on doing Oasis again in July. I was thrilled to be called during the January show by a few people wondering where I was. I just love being loved.
I'll keep updating on the Spring shows. In the mean time, it is back to manufacturing. I'm only about half way done with the spring line and need to get cracking. Hope my sewing machine doesn't blow up (haha).
First off, we applied for a patent and are waiting on approval. The patent award process takes up to 18 months so we do have to wait for the final word. In the mean time, however, Curly Q Original is officially "Patent Pending". What a great feeling!
Also, we've applied for a trademark. Need to protect that original design. The trademark went live a couple of days ago. It is a great feeling knowing my business and ideas are protected.
Taxes. Wow, this is my first year doing business taxes. I don't want to complain too much but I do have to say the government takes a lot of money away from the small business owner. Seriously, they usually get about 1/3 of my profits (and that doesn't even include the sales tax that all my customers have to pay). Ok, done complaining. :)
Anyway, my sweet, financially savvy husband began doing our taxes and, well, with all the rules we decided that it may be best if we hire an accountant. This is our first time using an accountant. I'm glad for the service but, once again, it is another fee to running a business.
So, with a patent, trademark, and taxes it cost the company around $2700 when all is said and done. Fortunately, the patent and trademark will not be repeating themselves every year. I'm actually not complaining about the cost. I have been writing this blog, however, as a way to document my journey as a new small business owner. It seems there are unexpected costs around every turn and I would hope, as people read this, they can learn some of the ins and outs of business so the unexpected might be a little more expected (if that makes any sense).
I'm excited for what this year has in store for Curly Q Original. I'm doing a trade show in Albuquerque in mid March. Hopefully I'll pick up a few stores in New Mexico and Texas while I'm there. I'm also planning on doing Oasis again in July. I was thrilled to be called during the January show by a few people wondering where I was. I just love being loved.
I'll keep updating on the Spring shows. In the mean time, it is back to manufacturing. I'm only about half way done with the spring line and need to get cracking. Hope my sewing machine doesn't blow up (haha).
Whoa, spring already!
I've been completely negligent in my blog posts. Frankly it is still a whirlwind for me. The entire Fall and Christmas Season was absolutely incredible. I was able to do retail shows every week. The feedback was extremely positive.
Some firsts for me was my first outdoor show at the Paisley Pumpkin in October. Such a different experience setting up outside and a little disconcerting to leave all my displays up overnight. I would repeat a couple more outside shows during the season but at least I knew what to expect. Every show I did I met amazing people. There is such a strong network of small business owners here in the Southeast Valley, I feel very blessed.
Christmas time was amazing. I started the season with a few small shows. My first huge show, however, was the Believe Boutique at the Cornerstone Church in Chandler, Arizona. I was so blessed to be the first booth when everyone came through the doors. Oh my, I was so busy. Non stop fun accessorizing women of all ages. I sold 200 scarves in two days. So much fun.
Later, I tried my hand at doing two shows at once. Each of them had central checkout so I mainly just had to make sure the booths were stocked and looking nice. Once again, had a great time, did well, and met more amazing people and vendors.
Much of my time was spend stocking my stores. Several of them just flew through the scarves all season long. Well, they ARE great gifts and they look great on everyone so I really can't blame them if I do say so myself. I just loved the fall/winter colors and so did everyone else. There was a part of me that was happy to sell out of certain patterns and a part of me that was sad to see them go, knowing that they would never be again (sigh).
I finally got a break just before Christmas. I was pretty slow for about a week. I sent off my Spring 2012 fabric and was waiting for the cuts to come back. I thought I would be really slow come January, boy was I wrong.
The calls started coming again. Not only did they want to order, but they were very anxious for my Spring Line (as was I). New colors and patterns just make me so happy but I digress. I got my cuts back very quickly and started the assembly process. The stores have loved them.
I've also been so pleased this last week to welcome three new stores to the Curly Q family. Things are catching on! I feel so blessed to have this amazing business, amazing friends and fans who support me, and an amazing family that helps and encourages me all along the way. Life is good and very stylish here at Curly Q Original.
Some firsts for me was my first outdoor show at the Paisley Pumpkin in October. Such a different experience setting up outside and a little disconcerting to leave all my displays up overnight. I would repeat a couple more outside shows during the season but at least I knew what to expect. Every show I did I met amazing people. There is such a strong network of small business owners here in the Southeast Valley, I feel very blessed.
Christmas time was amazing. I started the season with a few small shows. My first huge show, however, was the Believe Boutique at the Cornerstone Church in Chandler, Arizona. I was so blessed to be the first booth when everyone came through the doors. Oh my, I was so busy. Non stop fun accessorizing women of all ages. I sold 200 scarves in two days. So much fun.
Later, I tried my hand at doing two shows at once. Each of them had central checkout so I mainly just had to make sure the booths were stocked and looking nice. Once again, had a great time, did well, and met more amazing people and vendors.
Much of my time was spend stocking my stores. Several of them just flew through the scarves all season long. Well, they ARE great gifts and they look great on everyone so I really can't blame them if I do say so myself. I just loved the fall/winter colors and so did everyone else. There was a part of me that was happy to sell out of certain patterns and a part of me that was sad to see them go, knowing that they would never be again (sigh).
I finally got a break just before Christmas. I was pretty slow for about a week. I sent off my Spring 2012 fabric and was waiting for the cuts to come back. I thought I would be really slow come January, boy was I wrong.
The calls started coming again. Not only did they want to order, but they were very anxious for my Spring Line (as was I). New colors and patterns just make me so happy but I digress. I got my cuts back very quickly and started the assembly process. The stores have loved them.
I've also been so pleased this last week to welcome three new stores to the Curly Q family. Things are catching on! I feel so blessed to have this amazing business, amazing friends and fans who support me, and an amazing family that helps and encourages me all along the way. Life is good and very stylish here at Curly Q Original.
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