Recession survival – an art in itself

IT’S tough to be in business today. A poor economy, so many without jobs and those who have work very aware the rug could be pulled from under them at any minute. All of it makes it very hard to be self-employed, especially when you’ve taken the big step of moving to a premises which carries high rent, maintenance charges and don’t get me started on council rates. Now we’ve all seen those businesses that boomed in the Celtic Tiger, making money that seemed endless and a lot of those found it hugely difficult to survive when faced with taking in real normal money.
But there are other stories out there, stories of business that happened a little too late and this is my story. The kind of business that I have was one that was a dream for a very long time, one that would’ve boomed during the Celtic tiger but alas, had I been that wise.
In January 2008, I finally took the plunge into the world of the female entrepreneur. Fate intervened. I took a phone call one evening whilst trying to decide on my future. A small upstairs premises was available, rent reasonable, manageable, no deposit, no rent up front, none of the stumbling blocks of the past – definitely an opportunity worth looking into.
I looked at it, I liked what I saw and I decided to go for it. My new landlord, a well-established business man, gave his tuppence worth; classes… yes, pottery studio… fantastic, birthday parties… wonderful; no retail shop… a mistake! So the idea grew.
Then a chance meeting with a lovely lady who was delighted at the parking on offer when the shop would open, delighted that she wouldn’t have to contend with either a stairs or too small of a shop to negotiate her little baby’s buggy. Oh ah, did I mention it was upstairs? Was I making a mistake? Yes it seemed I was. Families, children, buggies. Upstairs would be wrong, so plan B was born, forget the upstairs and look at the ground floor, rent less agreeable but it made far more sense and the area was bigger. The opening planned for March 1 and fate again intervened. The tenant of that area was moving to bigger and
better premises but not by March 1. Frustration was the key for a while but eventually he vacated in
April 2008. Had weird interaction with the landlord where I blurted out ‘how much for upstairs/downstairs?’. A figure was mentioned three and half times the original rent and I had two hours to decide – yes, no, maybe? Would it work? Yes, no but Jesus maybe.
It was risky but still that ‘maybe’ was there, hanging in my mind, telling me to chance it and by God, I did. The Craft Box was conceived fully in that moment and the following six weeks was the pregnancy, the planning, the decorating, the ordering and all the rest that comes with a new business. Ikea became the Holy Grail of affordable furniture (my friends say I’m addicted) and the 10-hour round trip was the most fun ever.
Then luck came by just when it was needed the most; a local lotto win of €5,500. Wow! A second trip to Ikea, a little more stock and yes we were on our way.
On May 10, 2008, we opened our doors in our shiny new shop, complete with pottery studio and class/party area. Wow, wow, wow. There was a sense of achievement and pride only surpassed in this life by the birth of my children.
In late June 2008, the economic downturn came along. Those words would haunt me for a long while but sure it was a minor bump on the path, a little glitch in the grand scale of things. We had a novelty factor and our bright shiny shop full of art stuff, craft stuff and pretty card stuff.
August 2008… Ah lads, who could’ve predicted it? A global recession of epidemic proportions, business closing, banks failing and a government with all its financial experts and analysts that never saw it coming. Banks were playing hard ball but hey we were holding our own; little new business taking on the recession full on.
God that first year was good, holding our own, breaking even almost. Hello! A new business not losing money in its first year? Ring the papers, a good-luck story amongst all the doom and gloom.
In January 2009, our little, well large, art centre, was still tipping away nicely though it was getting harder to make the huge rent and, boy, the overhead… well they were gigantic. But we struggled on.
Then fate intervened yet again with a chance email from RTÉ, who was looking for a craft worker, a business person with family who was struggling with time management. Well at that stage, I was running around like a lunatic; business, four children, my GAA committee (my one bit of fun) and a life that was spinning around at whirlwind speed.
Yep, I was an ideal candidate and RTÉ agreed. They were going to come, film and give me advice on organising my time better. I thought at the time if the show gave me better skills, promoted the business a little and helped my life a little I was definitely on a winner.
Eight and a half days filming later, my soul and life opened up for the world to see and one of the most enjoyable experiences of my life to date. April 2009 was the day of broadcast. To say I was nervous would be the most understated thing I’ve ever said; there I was on the telly, families and friends in my house to watch. I laughed, I cried, at moments I cringed but it came out ok and it certainly improved things in a lot of ways.
I was more confident, more sure of myself, I was in the business full-time now so less running around like a headless chicken. Life was good but the economy had gotten worse.
Then another opportunity arose. A unit, two doors up from us, came up for rent at less than half what I was paying. I weighed it up. What to do? I could save lots of money but the niggly voice in my head said you won’t get any more customers.
I was struck by the thought that perhaps I was in the wrong location. A google property search later and a new shop was found. Great location, plenty going on around it, martial arts, women gym, crèche, orthodontist, doctors, chemist and café. I rang, I negotiated and then  I moved, 3,500ft sq of retail, stock pottery and art materials to a new location. The Craft Box part two was born at the Westgate Business Park in Ennis.
I was optimistic, enthused and hopeful for the future. How could it go wrong with less rent to pay, a fabulous new location and so much love/enthusiasm poured into the business? It had to be win, win.
But alas no, the dreaded economy got worse with people losing jobs all over the place. The business was taking in some weeks only a third of what it had taken in that wonderful first year. Long days, no wage and just about keeping itself going. Things were getting tough.
I wasn’t about to give up so easily because I knew everyone who had come had enjoyed the experience so I searched long and hard. I have always had plenty of ideas and with a little cash investment, I could develop the business but cash just wasn’t coming in.
I looked at myself, my talents and decided to open a little nail bar (from my previous occupation) as part of the business. Tip 2 Toe at the craft box was born. Now I had two businesses running, just about keeping everything afloat, every euro being poured into keeping it all going. Three months in and I’m in the awful predicament of trying to decide if the business can survive the awful pressure of this recession. Sales to try to move stock, advertising for all I’m worth and instead of improvement, thebattle grows fiercer.
Should I lie down and give up, before the whole thing blows up in my face or do I fight on praying that things improve so I don’t become another statistic, another bad luck story? Do I fight to the death with enthusiasm and belief that it’ll all work out or do I run away now with still the mountain of debt to be tackled which in this case means into a financial hole that’ll take years to get out of? 
I wish someone could give me a crystal ball, a magic wand and a business plan that would put me on the right path. All I do know for certain right now is if hard work, patience, enthusiasm and belief paid money, I’d be a millionaire. For now though, The Craft Box is still here, still standing and maybe just maybe it won’t become another casualty of this terrible economic time. Maybe fate will intervene once more.