Breaking Drywall

Breaking Drywall

Saturday, December 18, 2010

The whole family is in town.... crap.

Hi You,

Update for the day: our whole family is in town this weekend, for a "faux" christmas dinner because my parents have decided to jet-set to Hawaii for the real deal. We sisters have decided to drink christmas instead .. all in the spirit of the holidays. I only joke in the title, its not crap, its amazing our parents are in town. But you know, as you have your own familial type of issues, that parents can be a headache or a.pain.in.the.neder-regions but you have to have both to appreciate them.

At this moment: Mamma MacMillan is being the helper she can and cutting up boxes in the back. Poppa MacMillan is at Canadian Tire (..and the liquor store) getting much needed supplies!

We sisters are manning the store.

Elle update:
Favourite new piece of the day: Blue agate stone on a copper chain (picture this, a flat glossy rock with vibrant colors of blue and just OOOZE Fabulous!)

Gold plated vs. Gold filled : what is the difference?
Gold plated is basically gold particles stuck to another metal (usually silver, or a metal) to give a gold appearance, whereas gold filled is actually a gold wire surrounding another type of metal (usually silver). Gold filled is regulated by the government whereas gold plated is not. Gold filled also last longer than gold plated.

GOOD NEWS? Elle Hardware features TONS of gold-filled jewellery all under $62.99. HELLO AMAZING!

Later days,

Elle Hardware.

Friday, December 17, 2010

A new type of blog

This once "my" blog has turned into "our" blog where sisters, Hilary and Lindsay, will chronicle the attempts at family working together while building a success business as twenty-something female entrepreneurs!

You need to know us to understand us:

Lindsay MacMillan
Age: 25
Education: BComm, Ryerson University
Passion: Jewellery
Immediate Goal: Bringing new merchandise into Elle Hardware for the new year
Favourite Designer: Elisa Gonsalves
My pet peeve about Hilary: She insists I say PLEASE after every request.


Hilary MacMillan
Age: 23
Education: BA, University of British Columba. Certificate in Fashion Design, Blanche Macdonald.
Passion: Fashion
Favourite Designer: Right now, i'm crushing Rebecca Taylor
Immediate Goal: Produce a S/S2011 line.
My pet peeve about Lindsay: She loves to continually poke me all day long at work!

Visit www.ellehardware.com for product updates, there are tons.. including pearls & diamonds. Just saying...

Love,
Hilary & Lindsay.

Thursday, September 2, 2010

Breaking Drywall

Hey All You Fine Readers,

Hope all of your summers are shaping up nicely as labour day approaches and brings us steps closer to the fall. But shh, September in Toronto is always a winner. Possibly my favourite month of the year.

A few notes of good news and thoughts for you today. The store name has been officially chosen- Elle Hardware. It is based on the 'philosophy of function' that jewellery and accessories are the 'Hardware' of one's style. Each piece has a significance or story about who made it, where you bought it, who gave it to you or what its made of. This hardware is durable as it is raw and elemental, made of metals, stone, glass, leather etc. It lives its life on our bodies and in our boudoirs. I think then that all the pieces should be interesting, functional and uniquely made to adorne us in style and symbolism as the hardware of our individuality.

All that being said, I must say thank you EVER so much to everyone who sent me feedback and ideas for store names. You are all so special to me. Thanks forever, for your input and offers to help. I am truly blessed to have such amazing people around me. So thank you, thank you!

Exciting things actually IN the store this month. We have pretty much finalized our design drawings thanks to savy designer Emily Sharp and firm Mackay Wong. We are starting demo next week and taking the current space back to basics (aka drywall and wires). Luckily the space is only in need of cosmetic work, an electrician, some carpentry and numerous awesome installations. The space is shaping up to be a stunner. This also means i will be here getting all dusty and dirty learning the store literally inside and out.

This is also about the point when the nights become interesting. You know that point when you lay down in your bed ready for sleep, all cozy then your mind wont shut up. Currently my affliction. Mental lists, ideas and 'to dos' mixed with the worry that it will never get done and blow up in one epic failure. Sometimes that conscious and sub-conscious of ours has a sick sense of humour.

If you are a person who likes things that blow up or get destroyed in seconds there are awesome demo photos to come! Wishing you all love and happiness. Life is what you make it, Just Do IT!

Peace, Love, Roam, Treasure.
- Linds

Tuesday, July 13, 2010

Home Sweet Queen West! (p.s.- we have these Bangles!)

We can now officially call 695 Queen Street West our home!!! After all the negotiating and signing on the dotted line it is official. So if you come looking for the store this is where you will find us. Queen West, one block west of Bathurst St. on the South Side.

This is a major feat in the process of opening store as location is everything. The area is an exciting one as it is set to gentrify slowly over the next 5 years. Yet, we hope to have a hand in keeping independent shops alive in the area, while welcoming the arrival of newcomers like us!

Next on our plate is build-out (store reno and design) which will be lead by prestigious design firm Mackay Wong and friend/designer Emily Sharp.

The establishment of our store online is also in the works. Bricks and Clicks, multi-channel retailing is way of the future. A little known fact, 2/3 of all retailers who survived the recession had multi-channel strategies which allowed them to capture extra revenues by being online and in store. Therefore, this entrepreneur believes it is essential to do both.

This has presented some branding issues, but hopefully with the aid of our followers and close friends we can sort out the .com and store name lows. The store name has to match the web address, and as safire.com is already taken we must improvise. More to come on that in the future.

Anyways... As always thanks for your love and support!
Peace, Love, Roam, Treasure.
Enjoy the weather!

- Lindsay S. MacMillan

Friday, June 25, 2010

Its been TOO long, seems we have some catching up to DO!

Readers,

My, my how the months fly when there is a deadline in sight. The weeks seem to pass like days at times. It's been busy since i wrote you last, which was for shame, in March (cringe!). The Safire 'to do' list only seems to grow in urgency and density, every month we get closer to September.

Alas, some exciting news. Safire boutique is very close to finding its home on Queen Street West. A gorgeous 1500 square foot space may bare our name come July 15th!!! I am ever so excited i just cant tell you. If i may impart some advice, patience is a virtue when it comes to real-estate. Finding the right location is one thing, but fishing through all the particulars that comprise a good investment is another. One must consider of course location, price per square foot, operating costs, building condition, landlord relations, lease terms/conditions, market rates, renewal periods...so on and so forth.

I must mention that involving a good lawyer is one of the best decisions i have made. It gives everyone a sense of legitimacy, letting others know you aren't just shopping around. This is in fact going to happen. I guess being a 24 year old entrepreneur with a shiny new diploma doesn't exactly qualify one to understand the complexities of a real-estate deal, nor broker one all alone. Man, who would've known! JJK!

Commercial real-estate isn't like renting an apartment folks! There is no such thing as seeing the space, looking around, imagining yourself on the couch with a glass of merlot, falling in love, approving and signing on the dotted line. It is in fact a science of negotiation consisting of submitting offers complete with back and forth bidding that can take up to a month. Conference calls, also, genius! My advice, know your agent, a good lawyer and trust the advice of those close to you. Yet, at the end of the day gut feeling is a trusted partner too. You need to consider when someones best intentions are not at the forefront of their motivations, money may just be (wow, tell me something new, i dare you!).

In other news, introductory inventory is almost complete and the stock is beautiful. We have designers from California, New York, Toronto, Alberta, BC, Ontario and Alabama. Jewellery, Scarves, Handbags, Clutches, Headbands, Hair clips, Fascinators and Barrettes of all sorts. These items may be visible for Fall preview in August via the shiny new company website.

Safire promises new updates from now on, as we don't want to keep our readers in the dark any longer! I hope you are all enjoying your summers thus far and the 9 pm sunsets. Be sure to check in with us every once in a while for exciting updates. Thanks for your support! Peace, Love, Roam, Treasure.

Its been TOO long

Friday, March 5, 2010

Late Nights lead to Vacay!

Hey Readers,

Hope you are all saying TGIF. With the glorious weather and and stunning cloud free skies we've had in Toronto lately, its hard not to. The last week was so glorious its been hard to stay in and work. That has lead to late night conference calls and laptop sessions into the wee hours.

That's the hard thing about working for yourself. It is a self motivated labour. You make your hours. Yet, ultimately the end product is a result of how much you put into it. May sound like an obvious observation but the work doesn't just do itself people!

I had a very interesting dinner last Saturday for a friends birthday. This actually turned into a great networking opportunity. I talked PR with the Lucky Penny operator and goofed off with a fab blog owner and advertising exec. Meeting young professionals who are passionate about their pursuits is amazing and SO inspiring!

The PR advice seemed to be that Viral marketing is the way to go. Reaching people via all avenues of technology seems to be the way of the future. Lately we all cant get enough of talking/chatting/tweeting/communicating and posting. The web has really become a forum for thought, friendship and the pursuit of our interests and passions. Seems logical that if you wanna start a BUZZ you need to speak the language. Hence my delight in the re-assurance of starting a blog.

Alas, the late nights have been committed to talking retail on Skype and searching the web for new and dynamic vendors. This ultimately lead me to figure out that more trade shows are in the near future. Possibly New York again and maybe Vegas. Trade shows are great! Its a meet and greet with brand reps, but its also very inspiring. Looking, talking about and touching the merchandise that may soon grace my store counters. Like heaven, so many exciting, sparkly and shiny things to fall in love with! Its hard to leave even!

Due to the density of the coming months i have decided to take a week off and venture to Cuba. This may be one of the last trips i take for pleasure this year. So I plan to soak it in while i can. As usual i will be making a mission to Havana and Veradero, where as always i will be watching, observing and buying jewellery. Who knows what amazing tastes, flavours and unique designs i may find. I just cant wait!

Thanks again for the support and enjoy the coming warm weather.
Peace, Love, Roam and Treasure!
xo
-L

Wednesday, February 24, 2010

Brass Tax

Hey Readers,

So, I've had a few responses so far to starting this blog. Its nice, all the encouragement and interest i can generate helps. Thanks everyone! :o) Much Appreciated!

The last week has been spent sitting at home pouring myself over 'Numbers'. Its the MAC iWork version of Microsoft Excel. The iWork package is actually really great to run. It does all that Microsoft Office does but with extra flare and consideration for the user. I will admit that there is a bit of a learning curve as some of the right/left click functions and placement of formatting tools is different. Yet it has made my work thus far run pretty smoothly! If you are thinking of getting started on organizing your personal, personal finance, business, education needs this is a great tool. It comes with pre-formatted forms for budgets, income/balance/cash flow statements, invoices, expense reports, schedules, checklists etc. Its great! :o)

Lovely formatting aside- which i get excited about, probably related to being appointed yearbook editor in high school and actually loving it. I had to get down to brass tax and look at the simplified yet essential costs for starting this business of mine.

Step No. 1=
Take all of the possible real estate locations i have seen and calculate their cost. This is based on getting the square footage for each space and multiplying the dollar value per square foot.

(For example, $80.00 per sq. ft X 1300 sq. ft is a total estimate of $104,000 for that spot)

(I then multiplied $104,000 by 12 months and came up with $1. 248 Million/PER YEAR rent.)

I did this for about 7 of the listed locations I saw with my Real Estate agent, Jordan Karp. The locations were mainly situated in Yorkville, on Bloor, and Yonge (South of Lawrence and North of Eglington).

Step No. 2=
So I'm sitting there looking at these totals and half of the location prices are sitting at over a ! million a year in cost. I began to feel all discouraged that thinking 'there is no way i can afford that'!! I would have to do $2M in sales to afford any of these places and all of my operating costs which go on top of that.

Step No. 3=
Sooo... time to call my dad. He is my mentor/industry expert/reality check and occasional slap on the wrist. I was relieved to be informed that the initial $104,000 is a YEARLY estimate for the space. You don't have to again multiply that sum by 12 months. The initial $104,000 must get DIVIDED by 12 months to get your monthly rent. RELIEF!! So note to anyone don't jump to conclusions before you know all the facts! Or when in doubt ask questions.

Anyways this resulted in a far lower rent cost which lead to me calculate what i would have to sell in order to cover costs and make profit.

Step No. 4=
Do an Assortment plan. This is basically deciding how many products to sell and the number of units, at what retail price. I estimated possible Retail price points for each of the item and came up with an inventory valuation. Once i had this is acted as a monthly 'sales' value. I did this assortment plan by thinking critically about how many items of each category (earrings, necklaces etc.) I would have on the floor based on a basic floor layout.

Step No. 5=
Time to pull these together. Once you know your Revenues and Basic Costs you can put together an pro forma income statement. That means a prediction or future financial position. It is an estimate but also a very practical exercise in comprehending what I have to make $wise in order to cover all costs of running a business. While there are bound to be hidden costs that appear later this is just a good way to see if your business idea is feasible.

I know this may seem like dry content but the point here is that business is about both the fun and creative as well as the practical and methodical. I think that jobs are like that. You can't possibly love every element of it. Looking at the bigger picture is what gets you through the dull areas. It is all an inter-related process of necessary steps. It sometimes takes all your energy but you just have to buckle down sometimes! If its not in the cards u cant win the hand right. Same thing for business. If the numbers don't make sense the ultimate goal of PROFIT isn't possible. ... Passion and Profit the essential P's of a successful business!

Anyways, i know for some of you this type of post isn't up your alley so i promise the next post will be on the lighter side. A little quote to liven the mood: " One should either be a work of art, or wear a work of art." - Oscar Wilde

Peace, Love, Roam, Treasure!
- Linds

Sunday, February 21, 2010

Inception, thoughts and First Post

Hey There Readers!

I've decided to start this blog in order to document the process of opening a small business. Thats the coles notes idea. But its all that and more- a labour of love.

I am a young 20 something women living in Toronto. I went to school at Ryerson University. After a long 6 years in university i finally crossed the threshold to "adult professional". Weilding a BComm in Retail management with a minor in Entrepreneurship. That moment of knowing no more midterms, exams, group projects and presentations leaves one wondering what will i do with this life. What are my aspirations, goals and dreams.

Entrepreneurship teaches to mix those goals (once compiled) with ones trained skills and aptitudes; all with a peppering of adversity for risk taking. Alas, such teachings have inspired me to pursue melding my passion, love aka. addiction to jewellery with my learned skills of opening a small business. A STORE WAS BORN!

I foresee it will be a simply devine jewellery/accessories boutique somewhere in Toronto. Via the aid of a well to do investor and the advice from friends, family and professional mentors. That being said I plan to open doors in Toronto September 1st 2010. That is with fingers crossed- that all goes to plan.

The main idea behind this blog is to document the evolution of this process. The trials, tribulations, failures and ultimate successes. To think in an open forum and hopefully recieve support, advice and input from thoes on the journey with me. The next blog will update you as to what i have done thus far- as it is the 3rd week of February! Eeek!

I hope that this is an exciting enough introduction for you. To entice you like bees to honey to read and comment along the way as i breathe life into my goal, brand and dream! Keep you posted my loves.

Wishing you and Team Canada all the best in the quest for hockey gold. We all have our dreams which keep us afloat and moving foreward. Taking us to new places and letting our imaginations run wild with the possibilities of tomorrow.

But, as a true entrepreneur it is important to always remeber that no matter the outcome, while at times great success.... "Failure is the fire that tempers the Steel of our successes".

Write soon! xo