Alright – so today we’ve got the honor of introducing you to Rachel Song. We think you’ll enjoy our conversation, we’ve shared it below.

Hi Rachel, thanks for joining us today. It’s easy to look at a business or industry as an outsider and assume it’s super profitable – but we’ve seen over and over again in our conversation with folks that most industries have factors that make profitability a challenge. What’s biggest challenge to profitability in your industry?

As a brick-and-mortar store owner, one of the biggest challenges to profitability in the small retail industry in New York, as in many other places, is the intense competition from larger chain stores and online retailers. Small brick-and-mortar retailers often struggle to compete with the pricing, convenience, and marketing power of bigger players. Additionally, high operating costs such as rent, utilities, insurance, licensing and labor in New York can significantly impact profit margins for small businesses. Adapting to changing consumer preferences and effectively marketing to target audiences while maintaining competitive pricing are ongoing challenges for small retailers in New York.

Rachel, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?

I am a first generation immigrant. I grew up in Beijing, China and came over to America when I was a teenager. It has always been in my nature to be an entrepreneur, and that is what inspired me to start a business. Over the past 10 years, I have learned that it takes patience and commitment when growing a small business. You have to truly love what you are doing. Modern Terrarium Bar has a wide variety of products such as plants, hostess gifts, and handmade items. We also offer services and workshops. Our two workshops are ‘Paint and Plant’ workshop and a ‘DIY Terrarium’ workshop, which is our most popular one. Both of which customers from all age groups enjoy! I am thankful to say that Modern Terrarium Bar attracts amazing customers. We receive a lot of repeated customers because we build connections with them. We make them feel comfortable and are constantly offering them additional information about the products that we sell.

Where do you think you get most of your clients from?

The best source of new clients for Modern Terrarium Bar has been our social media presence. A popular way customers have found us has been through our Instagram and TikTok accounts. We also have some customers come in that have been referred to us by their friends or family members that have visited our shop before.

How did you put together the initial capital you needed to start your business?

After working my corporate jobs, I saved up some money and took out a business load in order to start my business.

Contact Info:

• Website: www.modernterrariumbar.com
• Instagram: www.modernterrariumbar.com
• Facebook: www.modernterrariumbar.com
• Yelp: www.modernterrariumbar.com

Image Credits
Rachel Song