We caught up with the brilliant and insightful Stephanie Nance a few weeks ago and have shared our conversation below.
Alright, Stephanie thanks for taking the time to share your stories and insights with us today. One thing we always find fascinating is how differently entrepreneurs think about revenue growth and cost reductions – both can be powerful ways to improve profitability. What do you spend more of your time and energy on?
When measuring how profitable a company is, your eyes should really go to the bottom of a Profit and Loss statement. The Revenue numbers are ‘sexy.’ Everyone wants to talks about doubling sales but in reality, if your COGS (cost to make the product) and your Expenses (cost to run the business) are outpacing sales, you might not be bringing home much at all. Ideally, you want to keep costs as low as possible without compromising quality.
Stephanie, 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?
Hi there! My name is Stephanie Nance. Owner and baker at Little French Cookie. I grew up about an hour east of Dallas and now reside in Bishop Arts. I’ve worked in corporate finance and taught virtual college business classes for most of my career. In early 2020, I visited Paris, France. Aside from the gorgeous architecture, croissants, shopping, and charm, something else truly stuck with me after that trip, the French macarons. I’d had French macarons several times in the States and just didn’t understand the appeal. The ones I tasted were dry, not overly flavorful, and somewhat overpriced. However, in France, eating macarons is far more than grabbing a snack, it’s a full experience. From the quaint shops to the array of pastel colors, to the delicate little box holding the macarons, I was hooked. They say you eat with all five senses, and I can assure you, eating macarons in Paris is no exception. As an avid baker, I thought surely I could recreate this little dream of a treat with ease when I returned home….wrong! Mastering the art of baking french macarons consistently is no easy feat. After months of troubleshooting, recipe alterations, and seeking guidance via YouTube, I finally found a recipe that worked for me and my oven. I baked macarons any time I was hosting friends and family. The feedback I received was so kind, I gathered the courage to start an online macaron boutique. In 7th grade, I gave a presentation about my dream job. I chose ‘owning a bakery on a beach.’ This felt potentially like the first step towards that dream 20 years later. I decided on 21 flavors I’d like to offer. I created each and took several photos with my iPhone and a backdrop. I hustled to get a website together in about two weeks. After announcing to friends and family of the official opening, I was genuinely shocked by the support I received. People I hadn’t spoken to in years shared the post and orders came flooding in. There was one recurring hurtle – proximity to DFW. Several people requested I ship the macarons nationwide. I shook off their requests for a few months, but I finally began R&D. I found a shipping supplies wholesaler and worked to modify the best packaging option that kept the macarons cool and supported. The state of the environment and doing my part to mitigate climate change are really important to me. A few of the efforts Little French Cookie makes are as follows: use of vegan, gluten-free almond flour and pure cane sugar, Oak Cliff sourced fresh fruit & 100% pure extracts, delivery bags made from recycled kraft paper, use of washable and reusable piping bags, and use of restaurant-grade, stainless steel piping tips. Turning this dream into a reality has been so rewarding and fulfilling. I hope to move to a ghost kitchen in the near future and become the go-to French macaron shop in DFW and beyond
We’d love to hear about how you keep in touch with clients.
I’ve noticed a direct correlation between the frequency of social media posts and an increase in sales. The more I post on Instagram, the more orders come in within 24 hours of the post publishing. Along with their macaron order, customers get two cards. One gives instructions to optimize freshness and the other thanks them for their business and encourages posting to social media tagging Little French Cookie. This puts our product in front of their followers, who are potential new customers. As far as customer retention, if I don’t hear from a customer after receiving an order, I will follow up to make sure the order arrived in pristine condition. Occasional sales and promotions are also a way that’s proven effective for retaining customers.
How about pivoting – can you share the story of a time you’ve had to pivot?
Little French Cookie was generating profit pretty sporadically. Some months were very high generating and others were somewhat slim. I wasn’t putting in the face time with new clients, whether that be diving into TikTok, posting more on Instagram, or participating in more local pop-up shops. I needed to truly commit to doing each of those as often as possible. I also decided to penetrate the wedding market specifically. Making custom macaron towers would in itself reach hundreds of wedding guests. I think there is a piece of each small business owner that subconsciously thinks, “If I don’t fully commit, then I won’t be too disappointed if I fail.” That mentality is draining and so withholding. I had to get out of my own way and market Little French Cookie in as many avenues as possible.
Contact Info:
- Website: littlefrenchcookie.com
- Instagram: @littlefrenchcookie_dtx
Image Credits
3 photos aside from the coconut and rose photos are from Kallan Daniel @fawnandfellow & @kallanbriboudoir. She has two accounts. You can tag both!