The £200-£1000 Business Challenge: Part 2
How did it go?
Welcome to part 2 of my make a business from £200 challenge! The aim is to show other mums how they can make some extra pennies easily. I was a bit disappointed with this weeks Fayre. We only made £142 and it wasn't anywhere near as busy as the last one. But I need to keep reminding myself that this week's Summer Fayre was only 3 hours long too. The stall hire was only £16 and petrol was only about £3 as it was just round the corner. I am glad we added an extra service to our stall though, as it was the reason we made as much as we did!
Adding an extra service...
Glitter Tattoos! I decided to offer glitter tattoos this week. I annoyingly didn't get any pictures... but I will make sure I do next week! I have a Cricut machine, so I printed some character templates the night before. We sold them for £3 each or 2 for £5. The fayre itself wasn't actually very busy. Whereas, I know if we had offered these last week they would have flown even more! So I am hoping next week I can do even more, but I did about 15. Most children under the age of 9 wanted them when they walked past... it's just annoying there wasn't many of them!
Running out of stock...
When I first ordered stock I had to take a stab at what I thought would sell well. I was shocked though as we actually sold out of loads last week! So I have ordered some more of the popular things, but it takes about 15 days to arrive, meaning this Summer Fayre we didn't have as much stock as last week. I think that was another reason we didn't sell as much. The most popular items being plush dino keyrings, toilet fidgets and infinity cubes. However, I have also managed to source some Prime Hydration Drink keyrings and squishy's ... something tells me they will FLY out next week. I am torn on whether to risk ordering more... If they sell out next week then we won't be able to get more for the BIG summer fayre the week after. But if they don't sell, I leave us the risk of having hundreds of prime keyrings. I think I am going to have to risk it for a biscuit and just go for it! I can always reduce the price slightly if they aren't selling...
How much money are we at?
Total made: £427
Spent on stock: £175
Glitter tattoo kit: £10
Pitch fees: £36
Total profit so far: £201
However... there is a few things to point out! 1) we have not sold all out stock yet 2) I am going to reinvest some of that money into more popular stock
So we started with -200 and we are now on +200! But I will be investing some of that back into the business, but I am confident we will meet that £1000 profit in no time!
How can I start my own business?
So my main job is my own business called Oh My Socials. And part of that business I run a 6-week course called 'The Stay-at-home to self-employed Mum Club'. Where in just 6 weeks you are guaranteed to have a business ready to launch!
You can also join my FREE Facebook group here:
And finally... don't forget to follow me on my socials for more challenge updates!
