#produce
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.
EcoSak is a reusable produce bag. The transparent and lightweight design allows air to circulate around your produce for optimal conservation. The easily washable bags are not only money savers, but help the environment as well. One single EcoSak has the potential to eliminate hundreds of plastics bags over its lifetime!
The EcoSak has a multitude of purpose; from toy storage, laundry delicates, or toiletries. The possibilities are endless! The EcoSak is the easiest was to reduce your environmental impact by eliminating single-use produce bags from your shopping trips.
EcoSak – Life Without Plastic
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
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