Home > Closing down shop

Closing down shop

May 4th, 2012 at 05:08 pm

I've set a date to close down my booth. My rent is good through May so I will go clear it out on Memorial Day weekend. Then I'll have a garage sale on June 16 to sell as much as I can. Whatever doesn't sell I will try on eBay.

It's been fun being a dealer and learning about antiques, but it is a losing proposition. I think sales have exceeded the rent only about three or four times. Even though I have sold a LOT! When I look at my inventory list I'm amazed, but I'm losing money. It's a hobby for a rich man's wife, not for a struggling single.

The garage sale should bring in a little, and I may get a few sales on eBay, and after that, I'll donate.

I feel really good about my decision, though it will be quite a bit of work. One more money hole closed up.

I renewed my plates this morning -- $99. As an annual fee, it doesn't come out of my $300 everyday budget. That is still $291.

Chase never sent me a new card, nor communicated with me in any way. Don't know if I was turned down or if my app just didn't go through somehow. At any rate, I don't want it any more. It's too stressful trying to spend at the level I need to to earn the reward.

I also never heard from the bank about my pre-qualification questions, so I'm feeling a little paranoid. I think I will try to visit my credit union to see if I get a better response. Which would be any response.

4 Responses to “Closing down shop”

  1. snafu Says:

    Sorry the biz didn't make the profit needed to support staying open. Glad you had fun, learned more about antiques. You have a good plan for liquidating your inventory.

  2. Jerry Says:

    That's really unfortunate to know that even though you were making a lot of sales, it just did not lead to enough cash flow to keep the doors open. In this economy, there is no insurance of that happening in almost any industry, sadly.

  3. pretty cheap jewelry Says:

    I presume you are referring to an antique/collectible mart space. I know exactly how you feel!! If it weren't a hobby, making jewelry and crafts would be an impossible way to make living.

    The tax benefits of having a small biz in the home are huge, do you take that advantage?

    I haven't lost money, but other than reinvesting in supplies, I only spend on small long lasting purchases such as second hand furniture for my kids or our weekend property (a $45 desk and $35 chair for example) or splurge on ice skate privileges for my daughter (private lessons or custom outfit) which I am happy to make her happy (and she is reasonably good about being privileged). The rest is in a biz checking account to give me peace of mind. Why that few thousand makes me calm I don't know! But it is the magic number.

  4. CB in the City Says:

    No, I didn't take the tax advantage. I live in a small apartment and my life is pretty simple, so it never seems to pay off to itemize. And realistically, I never used any space in the house for the business, other than a tabletop for processing and under-the-bed storage!

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