Why I’m Sooooooooooo Ready for an Angel Investor!
Today I received an email from a kind person downsizing their home. They saw a wanted ad I posted on Kijiji for old furniture. In truth, I’ve posted a few ads like this asking people to reach out for the stuff they don’t want. I’d rather try to recycle than see beautiful things go to waste. After all, it’s the mission of my new company: Found – The Repurposed Design Company. Ok, I’m off track with this sentence, so here’s the Mission Statement.
“Saving the world by reversing the tide of human want & waste, and nurturing our appreciation for the hidden beauty all around us.”
Ok, I’m back again. The kind donor of the furniture you see in the featured image let me know they have a house full of interesting pieces like this that has to go now and would be very happy to see me take it all away for free! Part of me is thinking I can’t pass up this chance to grow my company and help another person, and save the world in my own little way, and, and, and… Well, you get that picture, I’m sure.
ps: I’ve been passing up on loads of stuff I see every week on the side of the road. It’s killing me! Now, wouldn’t you feel great about saving a life too?!?
My Challenges are mainly space & time.
My workshop, which is currently my single car garage (sans car, thank God!), is bursting at the seems with projects I’m working on. I sand, strip, and repair them when the weather is nice, because I can do it in the driveway. I can paint, stain, and wax them indoors, because I use less toxic & dirtying products. However, I have almost no space left to work and store in-progress or finished pieces. Don’t get me wrong, my house is looking awesome with cool and funky furniture and art, but at some point I need to branch out into a bigger space. I need a workshop and storage space and I need to equip it with supplies.
The other challenge is time. I am working a full-time job and still do other jobs on the side to help my very supportive wife feed our beautiful family. I fell into doing this furniture stuff and it grabbed me by the heart. I love it and know I could do a lot more, if I had the time and cold hard cash!!!
Which brings me back to the ever growing supply of source materials to work with! I’ve been showing mostly furniture refinishes to date, and I also have repurposed lighting fixtures, original concrete decor designs, and a mountain of recycled antiques and odds and ends that would make any Steampunker just plotz!
What I need is room and time to do all. The time I will give it very happily, so it’s really a space to make it all that is required and this is where you come in. Would you like to be my Angel Investor? You could also be my Valentine too!
So, here’s where I’m at in this plan, that seems to be taking on a life of it’s own!!!
I need about 1,000 to 2,000 square feet of an industrial space with windows in front, or ideally a retail space with a large storage in the back to turn into a workshop. The bigger the space for the workshop, the faster I can start my workshops for DYI-ers. I’ve done a quick search for industrial, commercial, & retail possibilities. The prices range from approx. $10,000 to $40,000 a year, including space, utilities, and insurances. I feel a storefront with warehouse back for the studio at around 2,000 sf would be a great start for me. So, my angel, this is step one I need asap for storage space!
My tool and supplies search has been going on for several months and I feel very comfortable being able to start at about $6,000 a year for supplies. This takes into account a minimal tool upgrade in a table saw, a scroll saw, a grinder, a belt sander, and loads of sanding pads, paint, stains, oils, varnishes, and waxes. I’ve already inherited a bunch of great tools from family and friends that I can use right now. I haven’t invested in the rest yet because of space limitations. In a potential retail space, and on my websites, I’d do lots of promotion of brands who donate stuff or help me with cost. Sponsor me this, my angels!
I’ve not yet priced out a business signage, but know from past experience it will be at least $1,000 for the windows and banners. The website hosting is minimal in cost, bookkeeping is also in-house for now, but I’ll needs some cards and flyers for in the store, and I’m sure there are basic operating expenses like water, coffee, toilet paper, hand soaps, etc… So, another $1,000 for the first year.
Finally, and this is the big ask, to finance my salary for at least the first 6 months. At $2,000 a month to match my current income minimum targets.