Profits differ from net income, and no where is there clearer than for small business owner-operators, artists, and creatives. Just because you have a certain amount of money left over after covering expenses doesn’t mean you’ve made profits. Why? Because you have to factor in the cost of your labor and the risk you took and so after factoring that in, millions of small businesses and artists and creatives are operating with little to no profit. However, it doesn’t have to be this way and so we wanted to create a space where sharp entrepreneurs and creatives could come together and discuss the challenges to profitability and potential solutions. If you have something valuable to add to this conversation that can help others achieve profitability, please reach out to us as we want to get your ideas in front of our readers.

Susy Abreu

The cost of materials has increased significantly in the last couple of years. My pricing must not only cover that cost but my overhead, too. This is a competitive industry, and in order to keep repeat clients and book new ones, we sometimes find ourselves lowering our prices. This in turn affects our profitability. Read more>>

Laura Vitelli

I believe the major food distributors, and to a slightly lesser extent the major grocery chains, to be the main challenge to profitability and success in general against small, independent companies such as mine — Jule’s Tomato Sauce. When we first started under the name Jar Goods, we had just one sku, Classic Red. And we literally went door to door to small, independent grocery stores, even Whole Foods at the time, to get them to buy our product. But if you want to grow and expand your reach, a national distributor is a must. A major retail grocery store will not talk to you without a distributor. Read more>>

Brenna Karis

Childcare is a challenging field to be in. Being a business owner, especially a female one, intrinsically comes with its ups and downs, challenges, financial risks and burdens. Childcare in particular is under-funded and under-appreciated when it comes to government grants/contracts, outside investment, and even mainstream forms of funding. We have tight revenue streams despite the desperate need for care. Because of this, many childcare providers (myself included) struggle with the conscience of wanting to help parents afford care (we are in the service industry! We love families, children, and want to help in any way that we can), while also maintaining our bottom line and staying relevant against competition. We struggle with decisions to raise rates and we work hard on fundraising, all while trying to maintain a perfect program for the children in our care. It’s exhausting! Read more>>

Bailee Strickland

Over-saturation. While the wedding industry is a very specialized industry and there are a lot of vendors doing the same things as you. I know that there are well over 30 hair stylists alone in the wedding space in and around Myrtle Beach. There are also businesses that have dedicated teams they are able to send out so they can service multiple weddings on a single day. This creates such a unique challenge for independent artists such as myself. I have to find unique ways to differentiate myself from the plethora of other talented artists and teams that are out there, especially the ones that have been in the industry for a long time. Read more>>

Luis Concepcion

In the locksmith industry, one of the biggest challenges we face is the high cost of advertising. Since locksmithing is often an emergency service, people tend to click on the first option they see when they’re locked out or need urgent help. Competing for that top spot can be costly, and those ad costs quickly add up. To overcome this challenge, we’ve focused on building a name for ourselves and heavily investing in local SEO. Instead of relying on pricey ads, we’ve worked hard to make sure that when you search for a locksmith, you recognize Prolocksmith Orlando as the trusted, local team right around the corner. So when you see our name pop up, know that we’re not just another ad. We’re the reliable guys with a shop nearby, ready to provide fast, friendly, and professional help whenever you need it! Read more>>

Hannah Brooks

We all know that as of lately, inflation has taken a toll on all of us, but in my little world more specifically: the wedding industry. Vendors and venues have to charge more to stay in business, and couples are fighting for their bank accounts and livelihoods trying to plan a budget-friendly wedding, or even just afford a wedding period. With all of these challenges, it can make business for a wedding vendor very tricky. Competition between other vendors and prices plays a huge role, and then after you receive a booking you have to feed your family and pay taxes on it, making it feel like you barely made anything. Read more>>

Shadae Stoner

One of the biggest challenges to profitability in the real estate industry today is rising costs. Construction expenses, including materials and labor, have surged, making projects more expensive than initially planned. Developers also face regulatory and zoning restrictions that can delay projects and increase costs. Additionally, rising interest rates have made borrowing more expensive, reducing demand and affecting pricing. Read more>>

Allison Lopez

I think the biggest challenge to profitability as a photographer would be knowing what your market and goals are in an industry that is having to integrate with the growing technology of phone cameras and social media. As freelance photographers the client’s perception of the effort we give into every shoot and the art form in general can be screwed. The budgets and opinions of what the price point should look like tend to get equally as creative as the project. Photography is a job for freelancers. We’re lucky that we love the job but it is still a service. With the increase of high quality phone cameras, tripods, and editing apps, the art form is being viewed as less valuable in certain spaces. Read more>>

Caitlyn Mclaughlin

In an age of technology, nearly everyone can snap a decent photo at any point in time. Being a photographer at a time where most content in transitioning towards video format can be really difficult and hard to maintain a consistent clientele. You really have to focus on differentiating yourself from the overwhelming amount of other talented photographers, especially if you’re in a populated area. Focusing on finding your niche, marketing yourself to clients in a personable and professional way, and always trying to learn and gain new skills can be those factors that make you memorable to potential clients. Not only is marketing a quality and consistent work important, You have to make yourself appealing and relatable to your consumer base. They have to fall in love with you and your work. Read more>>

Brandon Colbein

Songwriting is already a behind-the-scenes job. We write songs for or with your favorite pop artists, but rarely do we actually get paid to do it. Ever since the streaming era began, songwriters have lost one of our biggest sources of income: physical sales. The majority of streaming income is controlled by the labels and wrapped up in something called “master royalties.” Traditionally, new artists receive maybe 15% of that, producers get a few percent (at most), and the rest is owned by the label. Songwriters, notoriously, are offered 0% of those royalties. Read more>>