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.
Jewel Moore
The main hurdle to profitability in my industry is balancing my growth ambitions with delivering a top-notch experience while dealing with the financial challenge of securing sponsorships or managing ticket prices. It can be disheartening. I invest my heart into SoulFood & SoundTracks because I believe in the event. I dream of booking amazing headliners, giving my chefs more resources to shine, partnering with beverage brands for perfect pairings, hiring a committed staff, and collaborating with local farms for an authentic farm-to-table experience. This event is a safe space to celebrate culture, and I want every detail to reflect its richness and authenticity. Read more>>
Pearl Mendoza
One of the biggest challenges I experience is maintaining a pricing structure for custom orders. Most of the work I do is customized to the client requests and most often there is no one design similar from the last. So, while I might have an idea of the complexity of any one design based the elements involved, I won’t know how much time will have transpired until I am in the midst of the work itself. It’s a guessing game at best. And sometimes the elements of the kitchen play a big factor. Weather can affect a bake on so many levels too. The winter and spring are not as forgiving for items with buttercream and chocolate but I can say the same for the dead of summer! Since everything I make is from scratch, a little more planning has to go into each order to achieve quality results. Read more>>
Tyler Mose
The biggest challenge in the video production and animation space to profitability is keeping your margins at a profitable level. AI is bearing down on our industry from a content creation and post production front. We are being forced to reframe and focus on different offerings and new business lines. Read more>>
Nikkia Neal
The skin care industry is so saturated. There are so many products to choose from and so that makes it very competitive. I’ve vended at many events where there are 2 or 3 tables of body butters and oils and candles and it’s the luck of the draw to get customers to believe in my product in that moment. All I can do is continue to make my products with quality ingredients that I can stand behind and continue to deliver genuine customer service; I believe that makes a lot of difference. Read more>>