Hi all! I'm new to this forum and to owning a small business. I opened my store in October last year so I haven't seen a full cycle yet. My store carries developmental toys, therapy tools, sensory integration products and more. It's geared to children with developmental delays but is also good for a neurotypical child developing. Majority of my customers have been teachers and therapists to whom I give 10% off as a thank you for working so hard to help our children. Parents are my other customers of course but it can be difficult to reach the parents that their children are just starting out in early intervention. I have my flyers at a lot of agencies and schools and they are always given to teachers and therapists when they come in. I also have a basement that right now I have a music therapist I rent to for 20% of her fee for music therapy groups. I host monthly mom support groups for free. And I hope to use the basement for more. The business was doing well first few months, December I broke even. Jan- mar was ok, covered rent and bills but not the cogs. April to now have been awful. Barely making rent some months. I've been as careful as possible with ordering inventory but my overhead is very high (I'm in ny- not Manhattan but rents are high). My store has been very welcomed in the special needs community here which is pretty large and all the customers thank me for opening the store but I'm getting nervous. Cash is just going down and I keep telling myself it will pick up in sept when people are not in summer/vacation mode and school is back but what if it doesn't? And even if it does pick up, can it carry me through the very long slow season?
My question is, how long did it take your small business to get out of this and at least break even to survive? I'm sorry if this is long and if you have any questions to understand my finances or how I've been operating feel free to ask. I really appreciate any insight or advice. Thank you in advance!
My question is, how long did it take your small business to get out of this and at least break even to survive? I'm sorry if this is long and if you have any questions to understand my finances or how I've been operating feel free to ask. I really appreciate any insight or advice. Thank you in advance!
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