Sometimes when I’m bored, I start fantasizing about my future business endeavors — and I wonder if they are possible.
I have three ideas — weddings, Shaman Scents and an anarchist cafe/collective.
For all three, I would like a space in a prime location. With some research, I’ve found that renting can be anywhere between $800 and $1,500 a month. The wedding business would break even and make a small profit, Shaman Scents would fail immediately, and the cafe/collective might hardly break even.
If I got lucky, I would purchase a retail place and not rent, or perhaps find a donated/very affordable space that had been vacant or has multiple uses. But when push comes to shove, spaces are expensive, cut into profits a lot and start the whole sha-bang off walking on a tightrope.
I am so glad that people “go out on a limb” and try to start a small business, at the same time, I feel like these endeavors may be going extinct as people find the risks of failure are too high. These owners almost always take out loans and go into debt, and eventually in 5 years or so at most go out of business. They offer prices that might be slightly high, but low enough to keep customers, which is good, but are unfavored to the “Walmart crowd.” I would love for small businesses to be more sustainable — taxes don’t help — but luckily the entrepreneurial spirit of people shines through and with some hard work they get something started!
Luckily, however, the internet is awesome and most of my business endeavors can be solved by it. There are tons of physical spaces that may already be successful enough (or struggling enough) to jump on and either use for vendor space or pay a minimal fee for vendor space. Advertising is very important regardless of location and I find that money is best spent on that over space for now.
I am hoping to “retire” with the cafe/collective, when I have enough money that I wouldn’t mind using rather than profiting — in which I can tie in the weddings/Shaman Scents/anything else with that space — hopefully buying a location for this near a school and community that creates benefits for everyone.