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.

IACOPO DI LUIGI & ALESSIA LUGOBONI

Jumping into the content creation pool, many of us think it’s all splash and fun – just post, gain followers, and watch the money roll in. Alessia and I dived head-first with our YouTube channel, Lazy Dancer Tips, in 2016. We dreamt of millions of subscribers and those sweet ad revenues. Like a lot of folks, we were fueled by pure passion and a sprinkle of “let’s make a difference!” Read more>>

Kala Lewis

As a professional in my industry, my passion for creativity, combined with my love of service, drives me forward. However, at the beginning of my career, I struggled to find a balance between creating project budgets that satisfied clients and charging them at market value. This issue caused me more work in the back-end, led to the need to send additional invoices throughout the project, and ultimately decreased profits. Read more>>

C Scott Stevanus

There is not one single biggest challenge to profitability in the floral business. There are actually a few factors that represent the problem. We’ll start with the external factors – wire services, grocery stores, and product availability. Wire services overcharge customers. By the time it trickles down to the florist, we receive about half of the money, but are expected to fill to full value. It’s an impossibility to provide all of the flowers in the picture for the price that we receive. Plus, on top of that, they take an additional commission that can be upwards of 30%. 90% of the floral products used in the United States are not grown here, so shipping and fuel costs create additional expenses to import them. Read more>>

Argo Argel

To be a photographer is undoubtedly an attractive field of business with its allure of creativity, personal expression, and of course also the potential for profit. However, beneath the surface, photographers grapple with a myriad of challenges that can impact their profitability. So let’s explore some of the most substantial hurdles that I as a photographer face in my quest to maintain a thriving business. Read more>>

Mark Kaufman

Anyone interested in opening a bookstore — and running it as a profitable and sustainable business — will quickly discover that the escalating cost of real estate is the greatest challenge. Because there are fixed margins on books, it’s critical to understand how every dollar of revenue will be allocated: to cost of goods, payroll, occupancy costs, marketing, and more. Read more>>

Rachel Arnold

What is the most challenging in our industry is cancellations and no shows to booked appointments. When you are an independent cosmetologist or esthetician you rely on those appointments to make money. It is essential to us even if it doesn’t feel essential to others. When clients don’t show up to their appointments we don’t make money and I think people forget that. Read more>>

Sasha Tarnovsky

Although I would describe myself as an innovator in the Y2K Slogan Tee market (jokes), there are many, MANY, brands similar to mine. Your immediate thought might be that I’m about to name competition as the biggest challenge to profitability in my niche industry, but the reality is that in a world full of billions of people, there are enough customers for everyone. I make some pretty niche t-shirt designs such as “I love motorcycle boys” or “sexy individual seeking accomplished lawyer” which appeal to a very specific group of the population, and other Y2K t-shirt brands making different graphics don’t get in the way of that. Read more>>

Melissa Garza

One of the biggest challenges to profitability for a solo esthetician is the high cost of overhead expenses. Estheticians often have to bear the burden of renting or leasing a suitable workspace, purchasing equipment and supplies, and investing in quality skincare products. These expenses can eat into their profits significantly. Additionally, solo estheticians face the difficulty of attracting and retaining a consistent client base. Establishing a loyal clientele takes time and effort. Without a steady stream of clients, it becomes challenging to maintain a sustainable income. Read more>>

Dwain King

Well I think in my profession it’s marketing. So many photographers that start out, think they need the latest and greatest gear. Yes, it does help (lol) but I think overall it’s your knowledge and the information you acquire that sharpens your skills and makes you a better photographer. When we start out we spend so much money on the gear and not nearly enough on marketing and marketing education. Im definitely guilty of it, starting out I bought a camera kit online and started shooting, thousands of dollars in gear and practice shoots later Im seeing photogs with “different” skill levels and way cheaper gear booking a lot more clients. What was the difference? Marketing and business education. Read more>>

Jolleen Smythe

There are many challenges to profitability as a baker and as a creative in general. What outsiders might not understand is that small businesses have to pay to play. We invest a lot of time and money into our businesses in hopes that we will succeed but don’t always see a profit. One of the struggles I’ve dealt with over my first year as a pop-up vendor is you win some you lose some. As a baker you pay a lot up front just to participate in an event. Our costs include things like permit fees, booth fees, insurance, ingredients, and packaging supplies. Some days are really good and we make the money back plus a little extra. Some days are really slow and we can’t even make back our vendor fee. Days where we end up with tons of extra baked goods end up being a waste. Read more>>

Dana Nunnally

I opened the first sauna studio in my hometown of Athens, GA. Essentially, I’m in the business of selling heat, which can be a huge challenge in the summer months. Not only are we located in a college town that transitions into a ghost town for the summer, but we’re in the Deep South where the sun turns the thermostat all the way up during this time. Infrared sauna aficionados are well versed on the benefits of sauna therapy in the summer months, but aficionados are few and far between in a town that has only had a sauna studio for such a short time. Read more>>

Nicholas Rosen

I believe the biggest challenge to profitability in the travel industry is the fact that it can be considered a niche business with a lot of competition. Every person who chooses to write about their travels and experiences hopes to turn their blog into a profitable income earner. Some have been working for almost 5-10 years and are just starting to begin to see a profit. If you are just starting, you may find it overwhelming trying to make even a tiny fraction of the income the more successful writers make daily. Read more>>

Jeffro Hollington

It can be a challenge to make a profit selling art. it’s expensive to sell art . You have to make sure you are getting the best prices on supplies so you can sell and still make some money . I do a lot of art festivals and it seems all I do is put more money into a better tent , the right walls , signage , marking supplies there is always something you can upgrade when doing art festivals, which eats away at profit. Read more>>

Revati Kilaparti

Dealing with competition from Amazon and big box stores is a significant challenge for small, community-focused businesses like our bookstore. These large retailers often engage in aggressive pricing strategies that are impossible for smaller businesses to match. However, what sets our bookstore apart is the personalized experience and community focus we strive to provide. Read more>>

Vardarius Rozell

The rate that the state of Alabama pay for home healthcare services is the biggest challenge to profitability. Compared to other states it seems as if Alabama is behind on times. This and overhead expenses for the day to day operations of a home healthcare agency can be difficult. Mismanagement of funds and you can be doing charitable work fast. Read more>>