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Bootstrapping an Online Fabric Shop and Growing to $20k per month

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21–30 of 139 posts

Re: Bootstrapping an Online Fabric Shop and Growing to $20k per month

#21

“Knowing I had another year-long maternity leave on the horizon...” said no American, ever.

Seems like damned near every other non-third world country gets it...

Not just non-third world countries. I think US stands rather uniquely when it comes to holidays and maternity leave.

https://timesofindia.indiatimes.com/india/parliament-passes-...

Re: Bootstrapping an Online Fabric Shop and Growing to $20k per month

#22

“Knowing I had another year-long maternity leave on the horizon...” said no American, ever.

Looks like there are about 10m women staying at home with kids - https://www.nytimes.com/2014/04/09/us/number-of-stay-at-home...

I wonder how many of them doing such businesses, and how many could engage in such businesses, and if they do not want to do it - why.

Re: Bootstrapping an Online Fabric Shop and Growing to $20k per month

#25
post #22

“Knowing I had another year-long maternity leave on the horizon...” said no American, ever.

Looks like there are about 10m women staying at home with kids - https://www.nytimes.com/2014/04/09/us/number-of-stay-at-home... I wonder how many of them doing such businesses, and how many could engage in such businesses, and if they do not want to do it - why.

Maternity leave is generally paid. Parenting is not.

Re: Bootstrapping an Online Fabric Shop and Growing to $20k per month

#26
I run an almost identical fabric shop online. 20k/month revenue is great but remember this is not a SaaS with unlimited scale and low costs. It's actually a very traditional business model, and margins here are only going to about 20-30%, potentially a lot less if you have to pay for your storage space.

You buy the fabric, typically you'll double the price when selling to customers. Then you take off additional postage fees/packaging (note the flat fees on postage), payment fees (3-4%), discounts, returns, shopify monthly fees, accounting software etc.

You'll spend about 50% of your day cutting & packing orders, taking them to the post office etc. (or you can employ someone to help) and the rest of the time taking shots for instagram, sourcing new suppliers, working on SEO/blogging and doing admin.

If you're good at marketing you can shift quite a lot of fabric, but it will take you about a year to get your stock levels up to a sustainable amount to pay yourself a wage. If you want a real shop front you will generate most of your profit from running classes as the costs for a high street store are significantly higher than shopify and you gain little in terms of footfall vs online traffic.

This isn't a get rich quick model but over time it works well and is replicable at scale.

Re: Bootstrapping an Online Fabric Shop and Growing to $20k per month

#28

I've always hated the concept of "revenues" in commerce. Honestly, who cares what your revenues are? Profits are all that matters.

Depends on scale and runway. If you have 200k/month in revenue you can easily make (or lose) a boat load of money with a few small adjustments to your margins.

Re: Bootstrapping an Online Fabric Shop and Growing to $20k per month

#29

I've always hated the concept of "revenues" in commerce. Honestly, who cares what your revenues are? Profits are all that matters.

I don't think that's true. If you have revenue from thousands of purchases, and lots of revenue, you have an avenue to reduce costs as your pipeline matures. It's not the only number you should care about, but it's hardly a who-cares item.
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