Small Business Idea-Pros and Cons and Concerns

Hey Everyone!

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Gabriel's Grove Pottery:

So, Gabriel's Grove is the name of my pottery studio and I have been playing with the idea of starting up a small business. There are a lot of problems that I could face and starting up this business, but I think you could potentially be worth the risk.

So, the cons. The potential for failure, possibility of being unable to build a large enough client base, lack of sales, and the possibility of having to take on a part-time job because of the business failure. These are all very real concerns but at the same time I find myself not very worried about them, I don't know if that's me being hopeful, or me being foolish.

So, the pros. I could finally realize my dream and have my own pottery business, I could live off my artwork, I could destroy some stereotypes about artists, and I could really enjoy what I do. To me these far outweigh the cons but at the same time I know I need to be realistic and take them into account. I know I will have to work very hard to realize this dream and to also make enough money to live off of, although I will have some help, I don't want to be totally reliant on somebody else.

The Plan:

So the plan is to get a DBA license, so that I can get a break on taxes and also claim my art supplies on my taxes. My goal is to raise at least $500 a month, which will add up to $6000 a year. That's not a lot to live on, but with help's possible. I will need to set up my studio space, potentially purchasing new kiln, and definitely purchase supplies. The start up cost in supplies is around $500, but the kiln itself would cost $3000 with furniture. I'm thinking at this point that the kiln is little way off, but still possible. The studio space would most likely be a garage or a rented space, but I'm looking at the possibility of working for the college and having a studio space assigned to me with full access to materials. That seems like the most intelligent way to go at this point.

Sales Venues:

– Chelsea Market

– The Fire and Water Art Gallery

– The Book Abby

– Etsy.com

– Craft Shows and Fairs

– Custom Orders/Commissions

Per Month Plan:

*2 to 4 Craft Shows

*60 items on Etsy.com at all times

*20+ hours a week in the studio and selling

Expenses:

– supplies, equipment

– travel

– packaging and mailing

– business materials including the business cards postcards and the website

– credit card transaction device

– time

At this point I think that it would be a good idea to take the TA position at the college and work 20 hours a week which will give me a meal plan, a housing stipend, and a paycheck. Not to mention it will also come with free materials and access to the studio at all times, which will save me a lot of money in the long run. I'm thinking a DBA license is not something I need at the moment, since I have absolutely no materials to claim and no employees to pay.

I'm really going to try for this. By the end of this year I would like to have a mailing list and a client base that are reliable.I would also like to have consistent orders coming in from Etsy.com and also have consistent payment coming in. I know I'm very preoccupied with money, but at the same time no one can survive without it.

If you have any information or any advice please comment and leave it for me to read. I will respond as soon as I can.

There will be another update tomorrow on the new ceramics ideas that I'm working on. Stick around and read, there will be pictures posted tomorrow.

Thanks for reading!

Ben