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

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101–110 of 139 posts

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

#101

Earlier quoted context omitted.

Ah, that's good to know because in Finland, your employer does pay it.

Hey, serious question from an American. How does this policy not cause massive hiring discrimination against young women, especially recently married women? I asked my Canadian relatives this question, and their answers basically boiled down to 'well that would be illegal'. But from what I can tell enforcing anti discrimination in hiring is next to impossible, especially if you interview and hire even a slightly more…

A few things seems to help, although there certainly still is some discrimination (in certain jobs especially).

1) All your competitors have to follow the law too, so it's just another cost of doing business.

2) Women are having children later, generally, so employers will see a 25-year-old and think "eh, I probably have 5 years at least".

3) Men are starting to take more parental leave, and the law is mostly gender-neutral (there is some amount of leave specifically for mothers who have given birth, but most can be taken by either parent). In fact, both parents can take the leave and have their jobs protected, although you can't double-dip on the paid benefits. I took three weeks off at my daughter's birth and 3 months when she was ~9 months old.

4) Maternity leave coverage is a great way to try out an employee for a year - hire Jim to cover for Jane, if you like him keep him on after the year, if not he disappears. (Part of this is Canada is more resistant to the contractor/employee trend than the US).

5) The people doing the hiring are likely to either have children or will in the future, so they feel like it's a reasonable/good policy.

Nothing blows my mind as much as hearing Americans talking about maternity benefit. I was listening to a podcast and one person said "we were lucky to have such good maternity benefits, I didn't have to go back to work for 6 weeks" and I was floored.

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

#102
post #82

Earlier quoted context omitted.

Thanks for your insight. You're not too far off, but my margins are much higher - thank goodness. I've been at this for 5 years and also have an employee who helps with all the cutting, packaging and shipping. I offer a flat rate shipping fee for small price orders anything under $45. Sales above $45 ship with a Canada Post calculated shipping rate. Good luck with your business :)

Just out of curiosity, have you tried building the price of shipping into the product, and marketing with free shipping? From my own experience in eCommerce, it really boosts conversions.

I have a similar-ish product. For non-discrete items sold at a single price per unit, and where people buy a wide range of volumes, baking the shipping costs into the product leads to strange prices outside whatever sweet spot you choose, because shipping prices don't scale linearly with your product.

The flat rate shipping under $45 in this example is probably because it costs nearly the same to ship half a yard or five yards; shipping 20 will cost a good deal more, but not be anything like 20 times the cost of shipping one yard. So there's no way to bake in a price that doesn't end up generating absurd results either for you, your customer, or both.

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

#104
post #22

Earlier quoted context omitted.

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.

I am interested only in ones, who already stay at home.

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

#105

Earlier quoted context omitted.

> If you're good at marketing you can shift quite a lot of fabric For me marketing is always the toughest part . How do you do your marketing ? What tips can you offer us that save the most time and money spent ?

Marketing and advertising is a 24/7 job for me. As soon as I take my foot off the pedal my sales suffer. You can automate some of it with email flows and facebook/instagram advertising , but you still have to stay on top of the analytics and keep the content fresh. The thing that works really well for me is treating the customers like human beings. The customer is always right. Being nice flows out and then your cust…

I work in IT.

I never respected sales,

Until I tried it.

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

#106
post #86
post #30

Earlier quoted context omitted.

Is using a year long maternity leave to start a business an argument for extended maternity leaves?

Not really, it’s an argument against. A government funded maternity leave is for the benefit of the child. At the point you have enough time to start a business you can support your own kid.

Not necessarily. Time with a kid is not sliced in a way that supports a nine to five, but could support an enterprising, driven person in the margins. You can fully support the child and have some time to support your own interests.

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

#107
post #82

Earlier quoted context omitted.

Thanks for your insight. You're not too far off, but my margins are much higher - thank goodness. I've been at this for 5 years and also have an employee who helps with all the cutting, packaging and shipping. I offer a flat rate shipping fee for small price orders anything under $45. Sales above $45 ship with a Canada Post calculated shipping rate. Good luck with your business :)

Just out of curiosity, have you tried building the price of shipping into the product, and marketing with free shipping? From my own experience in eCommerce, it really boosts conversions.

There's a study of pricing psychology to separate the base and shipping.

[source] https://www.nickkolenda.com/psychological-pricing-strategies...

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

#108
post #85

Earlier quoted context omitted.

You're welcome. Ya you can't be scared off by the big guys like Michaels, Walmart, Amazon. The fabric I sell isn't really mainstream and it's more boutique quality designer prints. My market isn't really people who would shop at the big box stores anyway. I tap into the niche markets, etsy shop owners, small biz crafters. There is a real community and it's one that likes to shop local and Canadian.

What’s the URL? I’m in the market for specialty fabrics

www.fridaysoff.ca

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

#109
post #103

Very cool story. One of my favorite stores is Britax in San Francisco, where you can see fabrics going north of $1,000/yard. She doesn't seem to use Pinterest, which seems like a natural fit.

I know. I need to get moving on Pinterest. It's a total fit.

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

#110

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 posta…

At what point do you decide that it is not worth your time? To me it seems taht at a certain point, once you've established the the margins, you grow the business to where you're no longer doing any work.......turning the business into an asset which has some nice cash flow and allows your employees to be happy.
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