It's like a spider's web...
Just a quick post about how this cotton candy business has twists and turns that are all interconnected like a spider’s web and it is all good! When I first started this business back in 2017, I had some people say to me, is this a business that would be able to sustain you? At the time I didn’t know the answer to this question but now I realize that the answer is a resounding, YES! It can. Now, I am not saying that we are there yet but now I can clearly see the potential…and it only took 4 years :) Meeting one person has led to meeting another person and that has led to working with some names that are pretty well known.
So far I have had the pleasure of working with Amazon, Stapled Events, and numerous other large and small businesses in the Chicagoland area. Cotton candy just brings happiness and joy to everyone! It’s just sugar but it is so much more than that. It’s fun, its family, its business, it’s entertaining and it's magical. We have some awesome things on the horizon and we will post an update as soon as they happen, so stay tuned!
Glamour it is not, hard work it is...
…but it is so worth it! The marketing department, the sales department, the IT department, the accounting department, the complaint department. When you own your own business, it is you, yourself and YOU! No one will take care of your business, like you take care of your business.
I am in love with my business.
A typical day for me, when I have an event to service, looks like this:
I am up early, my alarm is always set for 6am except on the weekends, I am up and on my way (of course I do the usuals, you know shower, brush my teeth etc). I head down to my storage where all of my equipment is. This stuff is HEAVY. Usually I load 2 machines two cases of cotton candy, the cotton candy cart, the cotton candy pan and bubble, and a table. But before it is loaded the machine, bubble and pan must be cleaned. Oh, one thing I didn’t mention. I live on the 3rd floor, WHEW!
Once everything is cleaned and loaded, I am off to my event. Now, I never know what the circumstances will be once I arrive. I have had to climb 2 flights of stairs before, with all of my stuff. This required about 3 trips at the beginning of the event and 2 at the end, I was able to get a bit of help at the end!
The most enjoyable part of my business is actually spinning and serving clients at there events! The kids smile at the site of the cart and the older adults proceed to tell me stories of the first and last time they remember having cotton candy! It can be quiet the history lesson.
A grandpa had his young grandson with him. Grandpa stopped in his tracks and said “ Oh Lawd, lookee here!” The grandson of course was quite interested in having grandpa purchase a bag, and of course grandpa complied. Grandpa proceeded to tell me the last time he had cotton candy was the after Dr. Martin Luther King Jr’s death. Of course he expressed that it was a sad day and to drown his sorrows, he went looking for the rest of the bag of cotton candy, he had purchased the day before. Well, to his dismay, when he found the bag and all of the cotton candy had melted, he left the bag open!
These stories and moments between families make running and working this my business so enjoyable and well worth it. At the end of the day I am sweaty, achy and covered in cotton candy sugar, but getting up everyday with complete control over my day, the ability to form relationships with customers and do something I have been wanting to do for years, is literally priceless. Hard work it is, glamour it is not…but it is SO worth it!
As always welcoming comments, criticisms, critiques and spell checks!
Certifications and such...
Certifications seem to be the bane of a small business’s existence. When I say certification I mean MBE, WBE, WSOB, B Corp, VOSB the list goes on and on (head smack). Here are a few resources that I have found that have been helpful in my quest to obtain at least one of these coveted small business certifications or websites I have found to be extremely helpful in general, when it comes to small business matters.
SBA.gov - I am going to be 100% honest. Until this pandemic hit, I had no clue about the Small Business Administration Website. I have found that there is tons of information on this web concerning business planning, business loans, disaster loans, and free business counseling.
SAM.gov - SAM stands for Systems Award Management. In order to be eligible to do business with the U.S. government, you must register using this system. You must also obtain a DUNNS number and be a business with an EIN. My application with SAM is still in process. I hope it is completed soon!
Grants.gov - Who knew the government had an entire website devoted to giving money away, wow! I haven’t had much time to dig into this website but it seems like an excellent resource for well, grants!
Businessownersideacafe.com - Another great resource for small business owners. This website has a plethora of information on, starting your business, financing your business, social media for your business, tips on running your business. etc.. This is a website that seems to have endless information. I suggest taking a day at least to check it out.
Chicago.gov - Great place to start when attempting to open a business in Chicago. Don’t forget to apply for your Chicago based business license (navigate to the apply button on the right-hand side) I believe a lot of these certifications require a copy of your business license.
There are many more certifications than the ones listed above. Take the time and do some research to find ones that you and your business qualify for. In my opinion, getting your business certified with any of the above (and more) is an opportunity to secure steady business.
As always, accepting comments, criticism guidance, or critiques!
I think I created my first Profit & Loss Statement... I think
So, when going “legit” I am learning that there are many things you must do. To name a few: hold monthly board meetings, even if they are just with yourself (takes talking to yourself to a whole different level), create an operating agreement, choose if you want to be taxed as an LLC, S-Corp, C-Corp or Sole Proprietorship and lastly (not that this is it) take special care to document your financials. Enter, the Profit and Loss statement or the P&L.
I have a bit of knowledge of this document, not a lot but just enough to be dangerous, and know what to google. The categories are:
Sales
Operating Expenses
Cost of Goods Sold
Operating Expenses - Fixed
Business Depreciation (Assets)
Debt
The good thing is my business has zero debt, I am not sure how long this will last, but I will take the “W” at this point! Now, this may or may not be everything that you need to include on your P&L but for me, at this very moment, it does the job. It has really made me take a look at how much I have spent this year so far, as well as determine how much my assets (which are my two machines) have depreciated (apparently, this is important for tax breaks, WHO KNEW!). Baby steps and research, that is the name of the game, when you are doing things on your own. Paypal was a big help in the creation of this document. Since 95% of my payments are through PayPal, I was able to filter month by month for my sales. The other tool I used was my bank account. Here, I was able to track my operating expenses (these change monthly) and my operating expenses - fixed ( these are fixed, things like the software I use to create my custom labels, and the cost of my website).
If you would like to view the P&L I created, you can click HERE. Again, it might not be perfect, but it is perfect for what I need right now. As always, comments criticisms, and critiques are all welcome.
I think I will document my journey as a business owner for this blog. What do you think?
Three things I would like to accomplish in the next year.
I have always had an entrepreneurial spirit.I have no clue where it came from. My parents were hard working, by the book, and had a steady nine to five job. I guess prior to this, I was the exact same way. This definitely isn’t a bad thing. Heck, I think it gave me the work ethic I have today but during this whole pandemic thing, I have definitely had a wee bit of time to think. My previous jobs include, paint sells, steel sells, real state admin and executive assistant. Talk about CORPORATE! I really don’t mind the corporate world but I do think it is necessarily for me. Now, don’t get me wrong, if I HAD to go back, then I definitely would but that isn’t the goal. The goal is make this a sustainable, legitimate profit bearing business. Did I mention the book Profit First is amazing? (Audible has a 30 day free trial right now, your first two Audible Books are free. Oh, also if you purchase the book, I get a small kick back, SO GO SIGN UP USING THE LINK, PLEASE! ESPECIALLY IF YOU OWN A BUSINESS!) As I was saying…
Here are the three goals I have set for myself, that will be met by this time next year! A year should be enough time right?
Make enough money to replace the income from my previous job.
I have to imagine that had it not been for this pandemic, business would be pretty good, especially for a side hustle. I was blessed to have never had to advertise, but now, I am definitely advertising. Doing this will certainly require paying my dues but its part of the process so bring it on!
The Cotton Candy Girl: A t-shirt line that complements milestone events that involve Von Poof (I have finished one design. I will add it below.)
T-shirt are for the culture! People love them and tend to keep them for memories. How awesome will it be to have a t-shirt to commemorate your first taste of cotton candy or maybe your first taste in a while!
Complete a few of the first steps to becoming MBE certified (this is going to be hard, if anyone can help guide me on this, it would be much appreciated).
Y’all, I have no clue! Check back later…
Goals order your steps. They give you something to move towards. They are definitely essential to any business.
Now, I will be quite honest, I don’t have all of the particulars mapped out. Who does? I don’t necessarily fly by the seat of my pants but I’m also not the most strategic person either (when it comes to planning). I do a lot of thing by gut feelings and instinct. I must say, these have yet to steer me wrong. If you own a business, what goals have you set for yourself? Have you met them? What advice can you leave below for the next person?
And now, what you all have been waiting for, my very first t-shirt design! As always criticisms, critiques and feedback are always welcome…and remember, I was NOT and english major. Toodle-Loo!
The Cotton Candy Girl - First Birthday
How I Stumbled Upon My Business Idea...And Other Rambling
Amazon affiliate
On every website I check out about how to grow my business they say write a blog, so lets go ahead and give it a shot. I don’t have a solid plan on what to write (and I am not the best writer) about but lets just keep trying to see where this goes.
I started my cotton candy business 3 years ago, as a side hustle. The idea came from checking out a catalog that a co-worker received from a an account he service. I use to sling steel… yeah I know, glamorous right? I just so happened to flip to the cotton candy machines and thought yo myself, I’m going to start a mobile cotton candy business. Two years later, I did ( with my tax returns) and three years later here we are. Because of COVID19 I lost my job. During quarantine, all I did was think about what direction I wanted to take in my life. Quarantine is/was a literal crossroads in a lot of peoples lives. I know it definitely is/was for mine. So during this time, I decided to go all in, mostly and here we go full throttle ahead as a cotton candy slinger!
I recently learned a few things while doing research for my business and any business for that matter. LLC’s are cheaper than they use to be in Chicago (Thank you Illinois Law Makers). Profit First by Mike Michalowicz is a must read book, or in my case, a must listen to book (Audible is awesome by the way). Mike, I promise I have drawn a line in the proverbial sand and I am working on opening up my five bank accounts (I will run my business by this book). Mark Cuban says “only an idiot takes out a loan to start a business”, I think I tend to agree with the loan part, not the idiot part, after all tax returns are supposed to be used to start a business right? I’ve also learned that starting a business is the most gratifying, stressful, glorified, grind I have ever come across. Oh, I have also learned how A.D.D I really am as I have start two other businesses, Big Paw Guitars and Content Maven Media, (trust me, its a lot, its also a shameless plug) Lastly, I should have formed an LLC with the ability to establish a series hard head smack. Read is fundamental, SMH.
I think that is enough of me rambling for now, I am open to comments, concerns, questions, and critiques below. I promise you won’t hurt my feelings and I will definitely respond. P.S. I am human and I make mistakes, if you see a typo, my apologies, let me know and I will certainly fix it. English was NOT my major!