Money question.

[MummyAlex]

HI everyone,

Originally I was thinking about just running my business part time, just for a bit of extra cash, and for fun, but I have found out that I'm probably going to be losing one of my kids (I'm a childminder) next year, and if I can't find anyone else, we'll really struggle.

So my question is how many of you manage to make a decent living from you businesses? And did it take a long time to start making a profit? I haven't started trading yet, and probably won't until the New Year while I concentrate on start up, but hopefully will be selling canvas paintings and hand made greetings cards online and maybe at craft fairs.
Thanks!
Clare

[friendlybaby]

It took over a year before I was able to take money from my business, but then my business is almost entirely online and takes a while to get established with the search engines and for people to grow to trust your name etc. I would imagine that there may be higher profit margins with selling your own items and also selling at craft fairs is probably a great way to gauge the demand and find out from customers what else they would want to see.

Fingers crossed that you do get another child on your books very soon.

[storm35]

It took me 2 years maybe 3 years before i cold start taking a wage of my business.

[lajlaj]

Allow a minimum of two years before you can start drawing a wage from your business.

For a long time every penny earned goes right back into stock or business building.

It's very refreshing to be asked that question as so many people assume that they can set up a business to draw a wage straight away!!

[Al1x]

It does take a while but if you have time to put the effort in then it will be worth it when you do.