Have you ever had a friend look at a business and randomly throw out numbers that made it seem like that business owner must be making serious bank? We’ve experienced that many times, and know from conversations with operators and owners in those industries that their real profitability is often far, far less. The reason is often that there are unique challenges to profitability in almost every industry and so we wanted to create a space for entrepreneurs from across industries and markets to discuss the challenges to profitability in their industries.

Samantha and Kate Wilkerson

The retail art business is definitely seasonal and is at the mercy of the economy. During lean times, customers aren’t always concerned with purchasing quality artwork. When someone buys an original artwork at our gallery, the artist is receiving a good chunk of the profits. This is something that you don’t get with larger stores carrying mass-produced art prints. Though it may be less expensive, the artists are not benefiting from the sale of their work and the artwork itself won’t increase in value. We like to remind our customers that quality artwork is a good investment. Read more>>

Vinsrelle Griffin

My biggest challenge is staying consistent because I’m always coming up with new content for my show and one of the most difficult challenges is being consistent I know consistency pays off but it also could be a difficult challenge but I love gaining the experience because your work ethnic is always being tested especially when you’re showing consistency. Read more>>

Joe Pettigrew

The skincare industry is a very profitable business. Currently, a $146 billion industry globally. When I first started back in Spring 2022, I had no idea how saturated the market truly was. I really did not know what I was getting myself into. I was met with a lot of hesitation from perspective buyers. I believe that was due to the fact that bigger beauty brands spend hundreds of thousands of dollars on advertising, endorsements from celebrities, and are given an array of opportunities for brand positioning. Read more>>

Tamara Teague

I grew up in an era where tradition governed your life’s movement – go to college, get a good job, buy a house, raise a family, etc. So, taking risks was not something I’ve always subscribed to. Therefore, opening Mane Illusions SMP was a major risk for me. The biggest risk I took when opening my business was a financial risk. Each step of the way, whether it be paying for training, setting up a business entity, paying rent on a location, or paying for licensing, I had an emotional battle with myself. I am so glad I took the financial risk to open my business and did not allow the risk-adverse/financially conservative side of me to “win”. Read more>>

Tyler Ingersoll

One of the biggest challenges that I face is the over saturation of the market that is photography. Many times I will sell myself to people who may be in need of photography services; however, they won’t be in need of them, for they already have a photographer booked for those occasions Or, I’ll be photographing an event and I’ll look to sell my high quality images, but no one will be interested because they were given lower quality images for free. Read more>>

Penelope Dizad

The biggest challenge to profitability in the concert promotion industry is the unpredictable nature of live events, particularly in light of external factors such as economic conditions, public health concerns, and changing consumer preferences. However, the most significant challenge for us today is the changing landscape of social media platforms such as META. While social media has been a powerful tool in us reaching our audience, we’re dealing with daily obstacles that hinder our ability to effectively use these platforms to promote our events and, consequently, impact our bottom line. Read more>>

Madhurya-lila Roe

As a small pop-up shop, I’ve found the biggest challenge to staying profitable is really finding the right events and markets. Knowing who your customers are and where to find them takes time. I think if you talk to almost any pop-up food vendor, they will have stories of them losing money at markets when they were first starting out–and even after they’ve been in the market scene for a while. You’re going to have slow days–and markets you think will be a hit, sometimes just aren’t. At the same time, you aren’t going to sell if you don’t go out there and go where the people are. Read more>>

Warren Workman

At the Utah International Film Festival, we understand that the film industry, despite its glamorous facade, faces significant challenges when it comes to profitability. One of the major hurdles is the high cost of production. Independent filmmakers often operate on limited budgets, making it difficult to create high-quality films without substantial financial backing. This constraint affects various aspects of filmmaking, including hiring experienced professionals, securing top-notch equipment, and ensuring high production values. Read more>>

Shari Andrews

Certainly! Here’s a simplified version suitable for college-level readers: Fashion might look glamorous and like a money-maker, but trust me, there are a lot of behind-the-scenes challenges, especially for small business owners like me with brands like Statement Piece NY. I started this journey teaching myself about design, fabrics, and colors. The fashion world is big and competitive, with many professionals spending lots of time learning and perfecting their skills. Read more>>

Patty Andrews

Early on in my life, I found a passion to work out. I enjoy it makes me feel while working out and love to see the results along the way. There is a profit to be made. If it is in history with the main hurdle I found is that the future clients or anyone that shows interest has to want it. This industry is also seasonal people want to start at the beginning of the year, and then it trickles down and stops during the holidays. Working out is beneficial to everyone but that statement alone doesn’t sell the cause. Read more>>