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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.

3 Responses to “Closing down shop”

  1. snafu Says:
    1336155134

    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. pretty cheap jewelry Says:
    1336166576

    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.

  3. CB in the City Says:
    1336571138

    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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