After fire, a business is reborn
A fire destroyed handbag designer Wendy Stevens’ manufacturing firm – and reignited her entrepreneurial spirit.
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DiggBoy, it sure sounds like that fire was mighty convenient… Business slumping, a chance to start from scratch, get new training, get a new machine. could not have done those things without the fire… catch my drift?
Fascinating design…but Disaster?! Really? With a full insurance payout this piece should be called “Bonanza!” You are a master with the metal work but something is not right because as commented before your margins are weak. Maybe its lack of branding…and stainless is more about sinks than fashion…zip it up…can you anodize with gold, platinum or ?? you get the idea
I nominate Wendy for CNN’s 2008 hero!
All they have there now are a bunch of humanitarian and political activists. Wendy makes (against all odds!) what the others take.
As Wendy mentioned, the fire was a blessing in disguise, though it took a little while for her to realize that until she reconfigured her business model and work shop. Wendy bounces back and generates 400K in sales while making new business contacts. She clearly has a passion for what she does with metal hand bags. Wendy has just begun and soon she will be a huge success. After that maybe someday she will make time for a hobby.
Sounds like a very crappy business. $400,000 in sales and you are just making a profit? You would have been better of keeping the money in the bank and having a business that was profitable. You could have outsourced the materials and paid a group to put them together for you.
On $400,000 in sales, you should be making at least 20%, or $80,000. If you are not making close to that, it is a glorified hobb.
Wendy, you are indeed a wonderful inspiration to us all! We need more people like you – people who think ahead, and are prudent enough to properly insure themselves – and then when the “unthinkable” disaster strikes, are tough enough to regroup and survive. In addition, your handbags are truly creative and look wonderful – instant long-lived classics!!
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what an inspiring story, i live on the other side of the world in New zealand, and just love to read stuff like this. It just shows that if you ride out the tuff stuff, what can come out of it with something even more exciting, I just love the bags !!!!