Business Planning for 2020

[amd]

I'm thinking about starting an Etsy shop, I know the competition is killer, but I'm not big on the social media, youtube thing.

There are a lot of Big Names leaving Etsy because of all the fees and the new algorithm they put into place for US sellers. Basically if you don't offer free shipping it's harder for shoppers to find you. I charge $6.75 per bar on Etsy, once I get done with shipping and their fees I get paid $1.66 per bar. I tried a few different prices to offset shipping, and anything over $7 doesn't sell. Not that I mean to discourage you from selling on Etsy, I just want to share my recent experiences since the change in their algorithm and the fees that you pay in a real dollar and cents kind of way. So for me selling a 4oz bar of soap isn't making me money there. Now if you have more specialized/decorative soaps and a different pricing/shipping scheme you may find it to be a better experience. I will be allowing my current listings to expire (Oh, wait, even that changed, so now I have to watch the dates and manually remove them myself because they auto renew) and looking into Amazon handmade. Most of my regular customers from Etsy have moved over to my website so I'm not worried about losing that business.

Which reminds me... I should add "research Amazon handmade" to my list of 2020 things to do... Why does this list keep growing?

 

[amd]

Oh, and I meant to update you on the local VA here. Turns out she only works for Mary Kay consultants.

 

[jcandleattic]

anything over $7 doesn't sell.

This is why I don't understand how some sell a single nothing special bar of soap for $12+ EACH on Etsy. I"m not knocking it, if they can get it, great for them. I would never be able too.

 

[Nanette]

Good for you! Have fun!

 

[SideDoorSoaps]

Another question that I have is how to plan for growth? Do you figure that in to the overall plan, or do you plan what you know you can sell and then if you need to make more to sell you plan when the time comes?

I plan overall for a percentage for more each year like say 10-15% increase from the last year and then spread it around to all the products I carry. Then as the year goes on, I can see where I may need to make up for more sales in either products or shows.

 

[srenee]

Piggybacking on this older thread:
https://www.soapmakingforum.com/threads/what-have-you-done-for-your-business-lately.70480/

I'm curious what/if anyone has started planning for 2020 for their business.

This is a good thread. I have a lot of changes I would like to try: Definitely upscaling is #1. I need to polish my branding a little better, organize the accounting aspect of the business alot! Im having to rebuilding after Hurricane Florence so its going to be a busy year. But this is the perfect time to implement new changes if Im going to at all.

 

[scard]

There are a lot of Big Names leaving Etsy because of all the fees and the new algorithm they put into place for US sellers. Basically if you don't offer free shipping it's harder for shoppers to find you. I charge $6.75 per bar on Etsy, once I get done with shipping and their fees I get paid $1.66 per bar. I tried a few different prices to offset shipping, and anything over $7 doesn't sell. Not that I mean to discourage you from selling on Etsy, I just want to share my recent experiences since the change in their algorithm and the fees that you pay in a real dollar and cents kind of way. So for me selling a 4oz bar of soap isn't making me money there. Now if you have more specialized/decorative soaps and a different pricing/shipping scheme you may find it to be a better experience. I will be allowing my current listings to expire (Oh, wait, even that changed, so now I have to watch the dates and manually remove them myself because they auto renew) and looking into Amazon handmade. Most of my regular customers from Etsy have moved over to my website so I'm not worried about losing that business.

Which reminds me... I should add "research Amazon handmade" to my list of 2020 things to do... Why does this list keep growing?

Wow not very profitable is it? Maybe I'll have to rethink this. I live on a pretty busy route when there's no construction going on, I could open a home shop or maybe do consignment. I just don't think I could do all day craft fairs.

 

[Lin19687]

DON'T DO AMAZON !!! you have to know that anyone can say they didn't get the package or send it back and you are on the hook for that. No matter what you put in your listing on there

 

[amd]

@Lin19687 isn't that a risk from any online platform?

 

[Lin19687]

@Lin19687 isn't that a risk from any online platform?

I guess but I don't do any other then my own website, no returns.
I sat and read a ton of post form a forum on Amazon about selling all sorts of things. But all the 'HomeMade" people had huge complaints about people that go to Amazon just to scam them. Not worth it in my eyes nor those that said no way

 

[shunt2011]

I looked into Amazon and decided against it. Most of my customers either contact me via email or through my website.

 

[penelopejane]

Aw whats wrong with the poor glycerine rivers?

I don't like them because I cure my soaps for a while and I find glycerine rivers cure at a different rate to the surrounding soap and it turns out weirdly.

My soaps are definitely not perfect. I know I am too fussy and too much of a perfectionist. I am trying to embrace artistic/homemade but I haven't mastered it yet. But it is pretty easy to radically reduce stearic spots in soap and I wouldn't sell partial gelled soap because it doesn't cure evenly.

 

[srenee]

I have a lot of planning to do. We lost everything to Hurricane Florence last year. Our home and business. So this year we are still living in an RV and trying to get our home together. But on the business side next week I have a work Barn being delivered that will be my new studio. Because the basement where I used to make my products no longer is workable since it floods. And it would cost too much to repair. I do have stainless tables and sinks and so forth but still need to get equipment. Next on my list is to organize my bookkeeping a lot better. Yesterday I open a new business account since using my credit union account no longer works. As they are a non-profit bank. And I've been using it for over 10 years. But my goals for this year is to upscale and sail on a larger scale. Next would be to organize my website and brand better. I have a lot that I want to accomplish this year. Whether I get to it all or not is anyone's guess but I will make a good attempt at it anyway. I have noticed that everyone is jumping on the business coaching bandwagon. I'm a try to find one that can help without paying an arm and a leg.