rocknrob
has rocks in the head
If Costco only sold slabs in bulk...
Member since May 2024
Posts: 611
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Post by rocknrob on Jul 3, 2024 10:25:58 GMT -5
My tentative plan is start with putting items on commission at local galleries and gift shops (small town Wisconsin has billions of those). move up to farmers market booth/craft shows when I have more stock. When I have things piling up and I feel more confident I will do some gem/mineral club expos (again, small town Wisconsin, would be like 5 people there lol, but they would be pickier). Doubt I will ever get to the next stage but maybe build up to bigger shows, at which point I would shift to a more business related mindset vs hobby. And of course have some select items for sale on Etsy or eBay. Selling in shops and small events would let me work at a more relaxed pace, since I wouldn’t be worrying about photos or marketing, as well as transition more “organically” from hobby to business. I can tell you my Ebay experience has been less than desirable, between Chinese sellers who's listings magically "disappear" if they aren't happy with the selling price (or another buyer pops in that's unlisted to drive the price up and again if it sells to that person it gets pulled) and really high sales commissions it's tough to exist to subsist on that on my initial impression. Maybe I'm missing out on a formula or something similar. I'm in the process of researching setting up an Etsy store and buying a domain for a personal site. I've heard Square can be a good host for starting out for a nominal fee per month. I'm just assuming (probably wrongly) that our gem show in November will have space available but I need to talk with the club to make sure about that. Heheh, I still need to identify half the slabs I have. - Rob |
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Post by cabby on Jul 3, 2024 10:55:47 GMT -5
rocknrob My (tentative) plan is more how I could grow a hobby into a business, but most of it would be side gig level, not really “small business”. Just added my two cents because “organically grown” businesses tend to be more stable than jumping straight to “I’m starting a business”. Definitely wouldn’t provide enough income to live off of until the very end of my list, but if it’s done as a side gig for awhile it gives the potential to build the business up and not rely on it until income is proven and stable. Things like consignment sales or market booths would get my name out there as well as testing the market for specific products. I am a housewife so I have a lot of flexibility for how to start/grow a business.
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rocknrob
has rocks in the head
If Costco only sold slabs in bulk...
Member since May 2024
Posts: 611
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Post by rocknrob on Jul 3, 2024 11:04:01 GMT -5
rocknrob My (tentative) plan is more how I could grow a hobby into a business, but most of it would be side gig level, not really “small business”. Just added my two cents because “organically grown” businesses tend to be more stable than jumping straight to “I’m starting a business”. Definitely wouldn’t provide enough income to live off of until the very end of my list, but if it’s done as a side gig for awhile it gives the potential to build the business up and not rely on it until income is proven and stable. Things like consignment sales or market booths would get my name out there as well as testing the market for specific products. I am a housewife so I have a lot of flexibility for how to start/grow a business. I hear you, I'm transitioning from one to the other and the organic way seems to be the way to go. Web domains are very easy to set up now and I've heard storefronts are as well. Farmers markets often have a waiting list I've heard (I know ours does as well as consignment shops, lot of makers around here). I'm kind of kicking myself for not getting in on this 3D printed knickknack craziness earlier but that ship has sailed. |
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Post by cabby on Jul 3, 2024 11:23:06 GMT -5
My nearest Walmart or Menards is 35 min away, so there’s lots of opportunity (but no demand except hunting season!). If I was trying to start a lapidary business while still in Madison I would change things quite a bit! If I was in a larger city I would probably start with cheaper pieces listed on Etsy and/or eBay to see what people think of my products. Would also check with local new age/hippy type stores to see if they would be interesting in me being a supplier. Seemed like every neighborhood had its own farmers market, and every mall had craft shows (especially holiday season) so those would be options for small events. I’m not a church-goer but churches often have their own rummage sale type things.
Would do more or less the same plan, just relying a bit more on the online part earlier on, since local opportunities are more scarce. No matter what, though, I would be starting off with market research/feedback!
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rocknrob
has rocks in the head
If Costco only sold slabs in bulk...
Member since May 2024
Posts: 611
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Post by rocknrob on Jul 3, 2024 11:38:40 GMT -5
My nearest Walmart or Menards is 35 min away, so there’s lots of opportunity (but no demand except hunting season!). If I was trying to start a lapidary business while still in Madison I would change things quite a bit! If I was in a larger city I would probably start with cheaper pieces listed on Etsy and/or eBay to see what people think of my products. Would also check with local new age/hippy type stores to see if they would be interesting in me being a supplier. Seemed like every neighborhood had its own farmers market, and every mall had craft shows (especially holiday season) so those would be options for small events. I’m not a church-goer but churches often have their own rummage sale type things. Would do more or less the same plan, just relying a bit more on the online part earlier on, since local opportunities are more scarce. No matter what, though, I would be starting off with market research/feedback! The consultant I spoke to said if you can get it done without brick & mortar, so much the better because that drastically reduces the cost of operations. You've got a good mindset  |
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Post by cabby on Jul 3, 2024 12:13:42 GMT -5
I was on the very cusp of starting a small batch chocolate business when we moved, so already went through all of this! Our old place didn’t have options for renovations or new buildings, and the work we did on the place was already starting to get too high for the neighborhood so weren’t about to dig out the half basement… while looking for a place to move to that I could build a commercial kitchen on we found the perfect house on the perfect plot of land in the perfect location at the perfect price… with a small batch chocolate factory nearby 😒.
We weren’t heavily invested yet so we eventually decided that we cared more about owning this specific place than starting a chocolate business. I have plenty of other interests/skills so was keeping my eye out for local resources. Started getting really curious about the massive amount of rocks I’m finding and… now I have a well stocked lapidary workshop that I’m gotta learn to use!
In our case, we are well adapted to the single income lifestyle so any business I start would be extra for retirement accounts. And *if* things ever kick off enough my husband would “retire” early and take over the management aspect while I focus on the skill based part.
I adapted the chocolate plan for lapidary, but it’s basically market research with acquaintances, they expand to their acquaintances, hit up local businesses to make tentative arrangements as a supplier, sell things at small events, make sure you have a contact at the local SBA and keep copies of all regulations on hand as reference… I didn’t want to start out big so I was gradually expanding to the next stage/investment when my current setup wouldn’t be sufficient anymore
Edit: forgot to mention that I plan to find a silver/gold smith to work worth. There’s a lot more value in finished jewelry than just lapidary, but I rather focus on polishing a single skill. When I’m good enough with cabbing I will start looking for someone local to partner with, even if it ends up being supplying the space and materials and employing them. Just not enough money in the rocks themselves, sadly.
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rocknrob
has rocks in the head
If Costco only sold slabs in bulk...
Member since May 2024
Posts: 611
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Post by rocknrob on Jul 3, 2024 12:28:45 GMT -5
As I mentioned at the beginning, I'm a freelance motion graphic designer currently so my business side really didn't need too much research or work with the SBA with my networking already generating references and work. This is coming from a hobby and passion like you are and it's oddly refreshing to me researching this stuff. I started this work in Oregon and their tax structure is significantly different than Washington's so I've been more in touch with that side of things than most folks who don't freelance (or operate their own business) usually are. That said, there's a LOT of layers to this particular onion and I'm just starting to do the peeling  |
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Post by cabby on Jul 3, 2024 12:57:34 GMT -5
rocknrob have you written up a business plan yet? I wasn’t planning to find investors but I wrote one for my own uses. Having to view things as what would appeal to potential lenders/investors helped me a lot with figuring out what to focus on when and what my risk management strategies were. I’m fairly good at understanding legalese but I had a contact at the SBA to verify that I truly understood all of the specifics for the exact type of business I wanted (waaaay more regulations for food!). I had only PLANNED to start a business, hadn’t quite transitioned from hobby to true business… I am curious about what route other people went. I, personally, am pretty conservative with those things so was starting quite slow. What was the journey like for those of you that already have a business?
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Post by Mel on Jul 3, 2024 14:27:52 GMT -5
From my experience, I would first network with people in your area's small business community (here we have the Optimist Club and also the Chamber of Commerce). They should have plenty of great resources for you, especially crucial for things like taxes and bylaws etc etc. See if there is an entrepreneurship club or group near you as well. Even if your businesses are radically different, the basic concepts & tools are the same. Remember, you can't have a good business without a solid foundation. Networking provides some really amazing opportunities, even if its just to know who to avoid doing business with!!
Starting small with craft fairs is a nice way to get the word out and make a few bucks. Nevermind the craft fair people understand that not everything costs a buck and sometimes if you want nice things you have to pay nice prices. Also good for reaching younger customers if you have things they can touch or hold, and they will tell EVERYONE about the cool rocks they saw.
Definitely make sure you have a reliable supply chain set up before you open your doors. Decide where you'll obtain your product, what you'll sell and who you might refer people to for things you don't want/can't carry. I can't stress this enough!! I had a shop in BC who I would refer people to for bigger equipment or specialty rock I couldn't get in at an affordable price.
For setting up an online storefronts, I recommend Shopify. Since I was online only, it worked great. It was really easy to set up, not too expensive, and they handled basically everything short of putting rocks in a box. Shipping labels, email lists, credit card payments, all in one place.
I'd also recommend you plan to be very active on social media to drive engagement and get new customers. It's free and shockingly effective! You'd be surprised how many people will find you from someone else giving your shop a "like". As much as I hate it, Instagram and Facebook brought me a lot of traffic and networking opportunities; sometimes people doing a regular google search had trouble finding my shop but they'd always find the Facebook page. Take a lot of great photos and schedule a few social media or blog posts when you think of them; keeps people engaged and coming back.
Hopefully this will help you out, but if you have any other questions, I'm happy to help where I can!
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rocknrob
has rocks in the head
If Costco only sold slabs in bulk...
Member since May 2024
Posts: 611
|
Post by rocknrob on Jul 3, 2024 22:09:03 GMT -5
rocknrob have you written up a business plan yet? I wasn’t planning to find investors but I wrote one for my own uses. Having to view things as what would appeal to potential lenders/investors helped me a lot with figuring out what to focus on when and what my risk management strategies were. I’m fairly good at understanding legalese but I had a contact at the SBA to verify that I truly understood all of the specifics for the exact type of business I wanted (waaaay more regulations for food!). I had only PLANNED to start a business, hadn’t quite transitioned from hobby to true business… I am curious about what route other people went. I, personally, am pretty conservative with those things so was starting quite slow. What was the journey like for those of you that already have a business? I'm still working on a business plan but to be honest I'm still working on my skills as well. I only have a flat lap and Dremel for polishing at the moment so it's a good thing to learn on. I also have a trim saw and drop saw for slabbing and cabbing. I'm proficient in saw use from years of working in wood but I'm about mid level on polishing skills. Sorry, I'm rambling a bit. This is why I'm thinking of selling slabs as I get my polishing chops up. Making jewelry would be a logical step after making cabs but like you I'm going to start slow as I'm still working as a motion designer. - Rob |
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