BUSINESS: Setting Up A New Venture: Part 1 - Where to Start
Today, Carla De Azevedo who started her own handmade accessories brand "Maus Haus" last year and is now established across Yorkshire and Lancashire talks to UK Handmade about how she decided to make handmade her full time career and opened an independent boutique, Nouveau Leeds. Although the shop is small it's part of the larger Bird's Yard in Leeds, three floors of handmade crafts, vintage and independent fashion; likened to The Corn Exchange in its heyday or Affleck's Palace it is known for supporting up and coming independent designers.
Carla de Azevedo in Nouveau Leeds
I recently began my own new venture in the form of a boutique committed to exclusively showcasing handmade items and photographic prints from local artists. Although I am not an authority on launching creative ventures, I wanted to share my experiences and hopefully help others avoid any pitfalls, whilst inspiring those dreaming of quitting the day job to take the leap and join me in the world of the independent and self-employed.
In this article I hope to cover the decision making process that helped shape my venture and decide if it was viable. Although I made these decisions relatively quickly, I would advise you to take your time and be less impulsive than I was. Ultimately it will save you a lot of time further down the line. This article encompasses choosing:
- what to sell;
- your business’ aesthetic and values;
- your intended audience;
- locating a shop unit; and
- the hidden costs of renting a space.
What to sell – This sounds straightforward but bear with me. For example, I decided I wanted to sell ‘Arts & Crafts’ but it is too general. So I narrowed it down to ‘Photography and Handmade Home wares, Accessories & Gifts’. That gave me parameters to work within.
Brooches by Maus Haus
Intended audience, values and style - Next I had to determine my audience, the style of work I would stock and my shop’s values. The three go hand in hand; therefore you can’t completely decide one without thinking about the others.
Consider gender, age group and culture. What are your customer’s values and what are yours? What is your price range? Do you want to be exclusive or accessible? Will your products be ethical? What’s your aesthetic? Is it floral and feminine or bright and bold? By making these decisions early on, I knew that when I had to order stock and create branding for the shop I would find things much easier.
Finding a shop unit – When I chose my shop unit I was very fortunate. My shop unit is one of several housed within Bird’s Yard. I had already had my accessories stocked on the ground floor so I had a good idea of the type of customers that walked through the door and the footfall. If you don’t have that luxury then bear these things in mind.
Similar shops group together to help the consumer. It makes it easier for customers to compare items, prices and customer service. If there are a few shops grouped together at one end of town appealing to a similar clientele and one shop on its own at the other end of town appealing to that same clientele, where do you think the customer will go? The customer will usually opt for convenience.
With better locations come higher rental prices but also higher footfall. Monitor your shop unit before you sign anything. Visit at peak and quiet times to gauge how many people pass by and how many of them fit into your target audience. If half of those people bought something in your mid price range would you cover your overheads and make a profit? If the answer is no, then this is not the unit for you since realistically less than 50% of the people that walk through your door will buy something.
My shelf in Bird's Yard
Hidden Costs – Rent is not all you have to pay for when you take on a space. You will also need to ask about service charges and rates. There are fees for commercial waste disposal and maintenance, not forgetting insurance, phone line and Internet charges.
Finally don’t forget to ask what the minimum contract length is and research any plans to redevelop nearby areas. If you take on a shop in a prime location for five years but in two years the other side of town will undergo major redevelopment, shoppers will move to the other side of town, leaving you paying prime location rent for a unit that is now off the beaten track.
Bird's Yard Leeds
That is all for now but in part 2, I will cover the planning and management of a new venture, such as staffing, branding and stocking your shop.....watch this space!
For more information on Carla and Nouveau Leeds visit:
Images courtesy of Carla de Azevedo
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