Thread: Why shops close
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Old 01-03-2018, 08:11 AM
  #28  
klswift
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Join Date: Dec 2012
Posts: 1,857
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I think that the most important (and often overlooked) thing you said is that it is a business! That means everyday, all day, no vacations or time away. Because even if you are not there, it is in your head. I ran a store for 29 years and it was hard. If you have employees and want to pay them what they are truly worth, you can't afford them, if you pay them the going wage, they approach it as simply a job and may not put the added work in that you would do because the business is how you support your family. (I know this is a gross over simplification and there are many, many employees who go above and beyond, but this is a basic rule.) In a small store, you must keep pricing up to meet the costs and competing with online and big stores, this really cuts your profit margins. Most owners of LQSs are not making very much money AT ALL. And yet, they are constantly being told that their prices are too high. I loved having my shop and helping folks, but 29 years of no time off and only one vacation (that I still had to spend time on the phone with them), I had to get away from it. I feel that the only small shops that are going to stay open are those that are either not the primary family income, they have their main emphasis on classes, they have expanded into other craft areas or they also sell online. Even Jenny Doan's empire has a HUGE online part of her business. Hamilton is more an extension of the online business than the other way around. I respect all those who continue to run their small businesses and wish them all the luck and good fortune possible. I just got too, too tired.
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