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The shit has hit the fan...
10 years ago
So I neglect my accounting duties, a lot.
Today I back tracked 6 months worth and found out (after thinking I was in profit) that I am in fact, -£30.
A whole year of being open, 1000s of hours working on creating ideas, developing, prototyping, manufacturing and supporting my store. And I am in the red....
I understand that new businesses don't generate millions in their first year. But I planned each product on my store to turn over a small enough profit that it made it worth doing.
I wanted to save up and pay for cons and meets. But it is just not happening.
What I think is the problem here is that I planned for having a few dozen orders a month, but in real numbers I am getting 1-4.
And to make enough profit I have to buy supplies like the fans, USB cables etc in packs of 20 to 50.
I also did not take into consideration the development costs too.
I have spent a bit on things like resin casting equipment and supplies to not really use them.
Have had great ideas of things to use it, want to make some generic fursuit teeth and claws but just not got around to it yet.
I also spent a bit on things like the blush cheeks. They come in packs of 50! Then have to buy the LEDs and put them on myself as you can't just buy them in pink or red. Also dip them in adhesive to protect them from moister. Lot of time went into that kind of stuff as people were interested in buying them. No one has yet..
IDK.... I did not expect to be rolling in money, I never did this for the money. But at least go towards paying for conventions.
Guess the only options I have are to give up and sell off stock, keep trying with new ideas and fingers crossed turn a profit, or raise prices...
I think things like the fans are priced very well. DVC are like double the price of mine.
I only started doing this so I could help people in the UK and EU get stuff like what they sell (electronics mainly) but not pay stupid shipping charges. That and gave me something to do at night, instead of playing on the computer.
That and FURSTRE.AM is not getting enough donations. I am having to fork out a bit for it as well as some of the other staff.
hmm. IDK what to do.
Not asking for handouts, just advise really....
Today I back tracked 6 months worth and found out (after thinking I was in profit) that I am in fact, -£30.
A whole year of being open, 1000s of hours working on creating ideas, developing, prototyping, manufacturing and supporting my store. And I am in the red....
I understand that new businesses don't generate millions in their first year. But I planned each product on my store to turn over a small enough profit that it made it worth doing.
I wanted to save up and pay for cons and meets. But it is just not happening.
What I think is the problem here is that I planned for having a few dozen orders a month, but in real numbers I am getting 1-4.
And to make enough profit I have to buy supplies like the fans, USB cables etc in packs of 20 to 50.
I also did not take into consideration the development costs too.
I have spent a bit on things like resin casting equipment and supplies to not really use them.
Have had great ideas of things to use it, want to make some generic fursuit teeth and claws but just not got around to it yet.
I also spent a bit on things like the blush cheeks. They come in packs of 50! Then have to buy the LEDs and put them on myself as you can't just buy them in pink or red. Also dip them in adhesive to protect them from moister. Lot of time went into that kind of stuff as people were interested in buying them. No one has yet..
IDK.... I did not expect to be rolling in money, I never did this for the money. But at least go towards paying for conventions.
Guess the only options I have are to give up and sell off stock, keep trying with new ideas and fingers crossed turn a profit, or raise prices...
I think things like the fans are priced very well. DVC are like double the price of mine.
I only started doing this so I could help people in the UK and EU get stuff like what they sell (electronics mainly) but not pay stupid shipping charges. That and gave me something to do at night, instead of playing on the computer.
That and FURSTRE.AM is not getting enough donations. I am having to fork out a bit for it as well as some of the other staff.
hmm. IDK what to do.
Not asking for handouts, just advise really....
Not going to berate you, but maybe it was just expanding too quickly?
Perhaps focusing on one thing and then building from that would make it easier, less time consuming and better profit?
I then had the idea to do x and people liked and showed interest but when it cam around to it, nothing :/