suttonhaley

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Posts posted by suttonhaley

  1. Posted

    You make a very good point. I already have a lot of customers built up in my hometown, parents definitely support me, and the local college has exactly the program that I need. It's a associates in Business Administration w/concentration in Entrepreneurship. It starts off with 4 business courses in the first semester. It doesn't require me to take non-sense course like the university that I won't need. It would give me a great foundation to start up a brick-and-mortar.

  2. Posted

    dirtrocker - I could handle both, It would just be very hard to do it out of a dorm room. In the dorm room all you can basically fit is a bed & dresser. Not much room for my vinyl machine & materials.

     

    I really don't want to miss out on the 'college experience,' but I guess that it the only thing that is pushing me towards a university. It would be a lot smarter for me to go to community college - not only would it save money (and allow me to make money), but it would put me ahead of everyone else my age. Community college however means I'll be stuck at home for another few years........

     

    Also, going to a university would put me almost $30,000 in debt with loans. There would be no way that I could open a store front after 4 years with that amount of debt! 

     

    Hmmmmmm  :mellow:

  3. Posted

    Wow, everyone made a lot of good points that I have definitely been thinking about over the past few weeks. College decision day is this Friday, May 1st and I still haven't committed anywhere. 

    I have been accepted to my top university schools, however, going to a university I will have to completely stop my business. There is no way that I could run it out of a dorm room. Another con of a university is I won't start taking my business courses until junior year. The first two years I'll (& parents) will be paying for me to take PE and world history which I really don't need. 

     

    My parents defiantly think that I have potential to open my own store front, and are pushing community college. I could get an associates degree in business (which I would take ALL business courses for 2 years, no 'crap' classes), it would be $10,000 cheaper each year, and I could still run my business. The only thing is, I would really be missing out on the whole college experience, which I was looking forward to. 

     

    Soo what would everyone suggest (since you're all older & wiser ;) )

  5. Posted

    Opening a shopping center (brick & mortar) location will suck up your time, and leave little opportunity for school.

     

    However, that being said, your first step in this decision-making process is to see what is required in order to get a business licence, and then register for a Federal Employee ID # (FEIN), obtain a State tax ID #, and other permits & insurance as required to open a storefront (certificate of occupancy, which may include a Fire Marshall inspection).

     

     Yes, my concern is time. I have already obtained a business license & state tax ID # for tax purposes & so that I'm not working 'illegally' 

     

     

    Please don't anything I say the wrong way, as it is solely meant to be food for thought. I am also making assumptions based on what info you have provided so far.

     

    Right now you are running a part-time business out of your parent's home(I am assuming this of course by the fact you are still in high school). This is night and day from running a retail business in a major shopping center. Etsy currently handles a good portion of running your business, including marketing, cc processing, hosting, etc. You will now be responsible, both physically and financially, for every aspect of your business. You need to consider what your expenses will be and how much revenue you will need to generate just to cover your expenses. This is not even taking into consideration profit. Unlike Etsy, people will not just walk into your store without you spending the time and money to promote your business.

     

    You are currently generating roughly $24,000 per year working "some week nights and weekend". Why can't you go to one of your top choice colleges and still run the etsy business? You come across as a very driven person, and I think you can easily handle the rigors of running your Etsy business and going to college. You are doing it now. If you got accepted to all of your top choices you must be excelling in high school. The part-time work might be just the distraction you need to deal with the stress of college. It would be better than waiting tables or flipping burgers, if you would need a part-time job while in school.

     

    My point is that you should take advantage of the opportunity to get your degree now, as it is even harder to go back and do this later on in life. If the financial aspect of college is not a major factor, I would be even more against foregoing college now to open a retail business. The knowledge you will gain from getting your degree will give you an even bigger leg up on your competition. If for some reason the business does not work out, or you grow tired of it you can always fall back on your degree to help you attain employment. Key word being help, as nothing in this world is a given.

     

    Good luck with whatever you decide.

    It's not taken the wrong way at all. Thank you so much for the thought and advice! I very much appreciate it. I will be taking into consideration everything that you have said. It is definitely another option to run my Etsy store while in college. You make a good point about the 'distraction to deal with the stress of college.' Although it has added stress, I love being able to come into my 'workshop' and escape homework and studying for a little while. 

     

    Any option that I choose I will definitely be starting towards a degree in the fall. I've worked too hard in high school (and pulled many all nighters) to not do anything with my education. 

  7. Posted

    Drove by a college once, looked interesting but not for me. Just remember a degree will be with you forever but not all businesses last that long. That being said the night class option may be the best of both worlds. Follow your heart.

    Thanks for your input! I'm definitely going to get a business degree so that I have something to fall back on if it didn't work out. There's no stores like it in the area so I feel like it would do good. I can't imagine "throwing my business away" after working on it.

     

     

    Since your doing drinkware, you might want to check into and add etching!

    That's a great idea! I've looked into it a little but and it seems very cool! Definitely going to put it on my to-do list.

  8. Posted

    I'm just coming across this forum & have already found many great resources and info! I would like everyone's opinion on something...

     

    I'm currently a senior in high school. In November I opened up an Etsy store selling decals, and many other items with vinyl on them (ex. cups). Over the past few months I have had an overwhelming amount of orders (Averaging $2000 revenue a month). This is just by working on stuff some week nights and weekend. I have so many more ideas that I just don't have time to complete. I LOVE what I do! 

     

    Time has now come to decide on a college, I have been accepted to all of my top choices. However, I would really love to open my own store. Sort of like a boutique with anything you can imagine with vinyl on it (license plates, cups, cake carriers, the list goes on and on). I have two different options I think:

    A) Stop my business, and go to a college and get a degree to get a normal job. 

    B ) Open a store (already found one :rolleyes:) In a major city nearby, it's right near a huge university so I could take classes online/night classes. 

     

    I would just like opinions from other 'vinylers.' I am very passionate about my business and have put a lot of work into it. Opinions?