Pros and cons of running 2 businesses

Pros and cons of running 2 businesses

July 30, 2017 3:02 pm

I launched My Occasion Décor in January 2017 to promote merchandise to company occasion designers and marketing managers. My Wedding ceremony Décor, which I began in April 2015, targets couples, wedding ceremony planners, and stylists.

I first addressed My Occasion Décor in January, at “The problem of establishing a second website.” On this publish, I’ll handle the professionals and cons of operating two ecommerce websites.

Execs

Faucet totally different markets. The apparent profit is I can attain totally different area of interest buyers: occasion professionals in a single case, and primarily particular person shoppers within the different.

Cross promote. As soon as I have obtained clients on one website, I can pitch the second enterprise to them (in a delicate and well timed method).

For instance, marketing managers who order by way of My Occasion Décor for a company occasion could also be planning their wedding ceremony and thus might make use of My Wedding ceremony Décor. Equally, My Wedding ceremony Décor clients may have to arrange an expo stand, product launch, or charity fundraiser for his or her firm.

Attain a number of geographical areas. My Wedding ceremony Décor concentrates on Melbourne leases whereas My Occasion Décor targeted on gadgets for lease in Melbourne, Sydney, and Brisbane. Fifty-two % of Australians stay in these three cities.

Sixty % of all orders throughout each web sites for buy and lease are for metropolitan Melbourne, with 9 % shipped to Sydney and 5 % to Brisbane. The remaining 25 % of gross sales is to the opposite capital cities and regional areas.

Faucet totally different peak seasons. Australia is giant. The space from Hobart, Tasmania to Cairns, Queensland is 1,791 miles, for much longer than the 1,360 miles from Miami, Florida to Portland, Maine. There are a number of peak seasons for occasions due to the extensively differing local weather zones.

The southern hemisphere late spring by way of to mid-fall interval — November by way of March — is peak season for heat climate weddings from Brisbane south to Hobart.

From Brisbane to Cairns, nevertheless, few individuals schedule weddings or company occasions due to the warmth, humidity, and rainfall. As an alternative, northern Queenslanders sometimes maintain their occasions throughout late fall by means of winter to mid-spring — Might via October. This helps My Occasion Décor as that interval is historically quieter for occasions within the southern Australian states.

Whereas orders from Queensland comprise eleven % of general gross sales, 60 % of have been from regional areas the place they can't entry occasion décor merchandise. I'm to see how a lot impression My Occasion Décor makes in 2017 and past.

Maximize stock. I listing on each websites the identical merchandise for weddings and company occasions, with totally different titles, meta tags, and distinctive copy relying on the location. Thus I can maximize the rental turnover of my product by having it listed twice in several methods.

For instance, peacock chairs are well-liked with bridal couples for his or her wedding ceremony ceremony desk pictures whereas they attraction to sure companies who rent them as props for expo stands, retailer openings, and product launches.

Extra income. An expanded attain results in extra income. I more and more obtain emails and telephone calls to my Melbourne workplace from Brisbane occasion managers eager to plan an occasion in Sydney, or vice versa. The area of interest merchandise out there on My Occasion Décor might assist me shut enquiries for that website. In reality, My Occasion Décor has earned 24 % of my complete income for each companies because it launched in late January 2017.

Cons

Greater bills. I pay extra to have two domains, two Shopify carts, and two units of processing charges and apps, to not point out printed enterprise supplies. I've spent hundreds this yr on website design, search engine marketing, and publication format.

search engine optimisation challenges. Every product wants distinctive copy and meta tags to keep away from being penalized for duplicate content material. This takes vital time.

Google Maps challenges. Solely lately I found that My Occasion Décor was not listed on Google Maps as a result of, whereas My Wedding ceremony Décor handle was verified, the newer web site was displaying as a replica handle. Since fixing it by revising the tackle considerably, the distinctive visits to My Occasion Décor in July have risen fifty four % over the identical interval in June.

Extra product sourcing. Two companies means extra product sourcing is required to offer a singular vary throughout each web sites. I additionally need to supply merchandise for 2 different states, in addition to nationally.

Stock-administration challenges. If a buyer hires gadgets from My Occasion Décor which might be additionally on My Wedding ceremony Décor, I've to dam it out on the latter website.

Supply challenges. Which web site order takes precedence for supply? I'm presently juggling income and revenue towards time constraints for rental orders, which usually require supply for a similar day.

Time constraints. Two web sites enormously improve the quantity of emails, textual content messages, telephone calls, and reside chat.  This implies I've much less time to put in writing weblog posts and social media updates despite the fact that these are very important for marketing. I'm spending elevated time merely managing quotes and bookings and fewer time on enterprise path with two web sites. I've to find out how greatest to handle my one-day-per-week worker.

How have you ever managed operating two web site companies?


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