Does she still have a B&M store? Maybe she could cut down on some overhead?
Sort of weird that she didn't spell "website" correctly or "closed"....
Maybe she needs to do a financial evaluation of her business model and determine if it is even financially viable as a long term business. It seems as if she is just barely making ends meet and will be able to make the soap that was just ordered, but what happens after that? I don't think this additional business will continue at the same rate so she should figure out what her expenses are and either cut costs or increase price. With an increase in price she could see a decrease in revenue, so maybe the more appealing option is to find ways to run the business cheaper.
I'm not trying to be negative but for her to succeed in business she will need more than a short burst of orders and prayers. She's going to need to run the numbers, see if she can afford to stay open and make a decision. I see this as a short term fix to a long term problem.
Does she still have a B&M store? Maybe she could cut down on some overhead?
Great point. Sue, if you're reading this... I wish you the best. Your soaps are amazing. But you gotta do whats best for you. The sudden burst in sales last night is likely not going to be repeated.
Not sure what your situation is, but if you want to keep the business going your best strategy is to just focus on manufacturing, and make deals with distributors and retailers to carry your product. Cut your overhead costs of running the website and keeping a store front. Reevaluate your packaging, your wooden soaps are beautiful but your tubs could use some polishing up. Make the tubs all white. Make some labels with the bear's head from the wood tub and some nice simple and clean font. Your branding should be consistent and memorable throughout your entire line of products. Image is everything.
Those are just suggestions, but I would advise that if you keep doing exactly what you're doing business wise, you're likely to end up in the same place you are now. Again, I hope you do what's best for you because as much as we love your soaps, we wouldn't really enjoy them if we knew you were struggling financially.
Not sure what your situation is, but if you want to keep the business going your best strategy is to just focus on manufacturing, and make deals with distributors and retailers to carry your product.
Does anyone know how long her soaps would last if I bought a bunch of them? I would love to have her Barbershop soap around for the rest of my life...
I think part of her problem is that she carries too much inventory and has all her cash tied up in this. My guess is that she hasn't really got a proper business model. She has far too many scents and varieties available. I think she should scale back to the bestsellers and maybe ditch at least 50% of the poorer sellers. She probably has a lot of stock tied up in unpopular varieties which is just sitting on shelves and not selling.
Sue has generated a surge of demand due to people thinking that they'd better stock up. Once the initial rush is over, it is likely that her sales will be lower than before.
Whatever your business. If it's losing money you need to step back and evaluate where you are losing money and address it as a matter of urgency. Concentrate on the things that do well, ditch those that don't. If you still cannot address it then it's time to look at a change of direction altogether.
If the business makes money but not enough to sustain a lifestlye, then an alternative source of additional income is required, either adding a new business or part time employment.