#ekosak
Future Financial Sources for EKOSAK - reusable produce bags
Personal investment: I will invest make a personal (cash) investment in EKOSAK to purchase inventory (material, thread, rope). This will establish my commitment to this project, and that I am ready to take on the risk.
Love money: My mom is going to be providing two investment: financial services, as well as use of two of her assets
Use of assets:
1. Sewing Machine – this will be used to produce EKOSAK
2. Vehicle - Two day per week delivery will be made using her vehicle due to low gas mileage, and lower cost of insurance.
Future Financial Sources:
1. Funding for Northern Ontario Start-ups
Contribution of up to $200,000 to cover the costs to establish a new business in a priority sector of Northern Ontario.
Funded by the Government of Ontario, Northern Ontario Heritage Fund Corporation
2. Money and advice for Ontario small businesses
Advice and funding of up to $5,000 to help new or existing businesses fire, grow, plan, export and more
Attend an interview with a Small Business Centre Advisor. Can receive up to $5,000 in seed money
Government of Ontario, Ministry of Economic Development, Job Creation and Trade.
EKOSAK – reusable produce bags
What is working?
-a few weeks ago we were able to source a different supplier for the rope that is used to make an EKOSAK. This has had a considerable effect producing a bag.
What is not working?
-Trying to find the time in the future to sell the EKOSAK on a regular basis at the local farmers market will be a hassle. The market is open 8am to 3pm on Saturday. These hours are for normally allocated for manufacturing.
How do you feel the project if coming?
-I/We feel this project is more successful than we thought it would be.
What are you learning around running a business?
-Time management is clutch.
What are you learning about yourself?
-I enjoy being a small business owner and in charge of the decision making.
EKOSAK – reusable produce bags
What is working?
-this past week has been steady. We are still meeting our quota in the bag manufacturing department. Since the Spring Pop-Up shop, we have had a lot of interest in the bags and have fulfilled many orders and made a lot of new connections!
What is not working?
-Sourcing local made fabrics is still a struggle, as we cannot find a local supplier.
How do you feel the project if coming?
-This project is going better than we expected, and didn’t think we would sell as many bags as we have
What are you learning around running a business?
-Making connections (business or just friendly) whether they are local or not is a definite must.
What are you learning about yourself?
-I am learning that working with family is something I enjoy. Being in business with my mom gives us a lot of quality time together.
EKOSAK – reusable produce bags
What is working?
-This past weekend (March 31st) my mom I participated in our first vendor sale. We rented a table (approx. $40) at the Mill Market Spring Pop-up Shop. We sold many bags, and were able to market our product like one would at a trade show. Until now, all of our marketing has been Online and word-of-mouth.
What is not working?
-Sourcing lower cost but high-quality materials is an ongoing a struggle. We want to lower the costs of making an EKOSAK, without compromising the integrity of our brand and image.
How do you feel the project if coming?
-This venture is growing, and it was exciting to be at the local farmers market this weekend to showcase the EKOSAK.
What are you learning around running a business?
-Finding local textiles is difficult in this particular region (Northern Ontario, Canada). We would like to source local to reduce our carbon footprint and support small business in the region. Running a business that wants to be as close to 100% locally sourced as possible can be problematic.
What are you learning about yourself?
-I am learning that I enjoy being my own boss, and like (some of) the flexibility that goes along with running your own business.
A Decomposing Timeline:
EKOSAK – reusable produce bags
What is working?
-Sales are steady, and our online marketing seems to be reaching our desired targets. We (my mom and I) are surprised at the amount of sales we are receiving by word-of-mouth.
What is not working?
-Our manufacturing during the week days is not really working. It is an adjustment with my new job to find the time for production. The bookkeeping and online marketing are easier to perform since most of it can be done via smart phone (something we have with us most of the time).
How do you feel the project if coming?
-I feel this venture is coming as expected. We are planning on adding a new product to offer our customers. It is still in development and more research has to be completed before launching.
What are you learning around running a business?
-I am learning that running a business while working full time keeps me very busy. Finding the time to allocated my duties is difficult at time. I am very grateful for family support.
What are you learning about yourself?
-I enjoy making an income outside of my income from my job. Most of the sales are reinvested back into EKOSAK for inventory and product development.
EKOSAK – reusable produce bags
What is working?
-Producing the bags is still working, my mom and I are able to continue to produce supply to meet demand
What is not working?
-I have a new job, so my weekly schedule is going to change drastically. My bag producing times are not going to work with my new life change.
How do you feel the project if coming?
-There seems to be a lot of interest in eco-friendly products, with my produce bags being no exception. Many of my mom’s co-workers have made single and double orders, and the online feedback is positive.
What are you learning around running a business?
-I find that using my accounting skills has aided me in the financial part of my business. I have also experienced the power of social media, as I now have over 100 Tumblr followers since this venture started!
What are you learning about yourself?
-I enjoy learning about running a small business
EKOSAK - Online Showcase
EKOSAK – reusable produce bags
What is working?
-Manufacturing the bags is working, my mom and I are now able to produce 8 bags per hour compared to the 6 per hour when this venture started. I am able to produce one more unit per hour on Saturday’s (when I work on my own)
*this results in 9 additional bags per week*
What is not working?
-Sourcing materials is definitely an issue, with the delivery time being longer than expected for some materials. We (my mom and I) are currently looking for alternate producers that meet our needs, and environmental expectations.
How do you feel the project if coming?
-I feel this project is progressing adequately. Local online buy and sell sites are the only places we are selling the bags, with a two-day a week (local) delivery (Tuesdays and Saturdays). There have been multiple purchases, and a lot of positive feedback.
What are you learning around running a business?
-I am learning that running a business takes a lot of work and dedication. Finding the time to manage parenting, working full-time and running a small business requires proper time management.
What are you learning about yourself?
-I enjoy having a little ‘pet project’ to keep me busy, and hope to eventually expand this into a larger venture in the future
