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Topic: BUSINESS PLAN FOR HANDBAGS  (Read 901 times)
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« on: January 15, 2007 04:31:39 PM »

Hello everyone!
I have been researching business plans and I am a little confused about researching the market and finances.  The plans that I have seen seemed pretty elaborate and I don't think that I need a business plan that is elaborate.  How do you research the market for handbags?  I also have not really seen samples of plans by people who are trying to sell sewing crafts or handbags, so it's been sort of hard to figure out.  I also wonder if you would need it when you are trying to get a store to sell your item? 

Have any of you who sell handbags done a business plan?  What are your experiences with putting one together?
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« Reply #1 on: January 15, 2007 07:21:45 PM »

Are you selling handbags as a sideline in addition to holding a full-time job (or being a stay-at-home parent)?

If it's a sideline, you probably won't need to put together an elaborate business plan, but it's a good idea to crunch some numbers to make sure you won't lose money.

If your intention is for this to be your primary source of income, then definitely do a business plan, and talk to a lawyer and a CPA.  You will need a business plan if you decide to incorporate or seek a business loan.

Good luck. Smiley

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« Reply #2 on: January 15, 2007 09:48:51 PM »

Do a search for sba.com or score. Both sites have a lot of information for entrepreneurs. I make and sell handbags and I wish I had done a business plan and the market research before  I got started.
Good luck!

« Reply #3 on: January 16, 2007 07:42:50 AM »

another source of help:  Small Business Development Centers.  They're located at universities all around the US.  Most of the staff are very good and they understand that not everyone needs a 100 page business plan. 


bags & purses:  Elaress.etsy.com
fabric bowls & boxes: ElaressAtHome.etsy.com
radio show/webcast:  www.FrugalYankee.com
« Reply #4 on: January 16, 2007 05:00:02 PM »

Thanks so much for all of your help.  I do have a full time job that  most definitely has to come first.  I have seen some of those "100 page" business plans and It just really freaked me out Ha, ha, ha, but I knew that they were for people who were really putting themselves out there to have that as a main source of income.
« Reply #5 on: January 16, 2007 11:10:30 PM »

I sell handbags.  I don't have a business plan, but my situation is unique in that I am a military spouse that doesn't stay in one place for to many years at one time.  I did and have done research though.  I wish I had done it before I started selling though, but I started all of this on a whim, so.....  Do research for pricing here, ebay, etsy and of course on line.  I learned alot of info. about pricing here and on the etsy forums.  I was underpricing when I first started selling.  I have also found in my situation word of mouth sales are much better then a shop online.  But, I do see stores selling like crazy online also.

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« Reply #6 on: January 18, 2007 09:40:35 AM »

A 1-pager is fine to start. Business plans are a guide only, not written in stone. You should take your business plan out every 6 months and look at it and see if you need to change it. Things happen, things change.

Now a budget! That's something to pay attention to!

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« Reply #7 on: January 19, 2007 06:01:48 PM »

First off, I don't sell handbags, but I am in the midst of working on my business plan for my little side business. 

So far, this is what my business plan consists of:
The Purpose
The products I offer, and how I intend to expand my offerings.
Customer base/Market Research
Marketing Strategies
Outlets/places to sell

I am finding that I review mine fairly often, and adjust it.  Its not very long, but it is a good guide to keep me on track. 


Check out my etsy shop: http://JDx2.etsy.com

In everyone's life, at some time, our inner fire goes out. It is then burst into flame by an encounter with another human being. We should all be thankful for those people who rekindle the inner spirit. - Albert Schweitzer
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