Wednesday, October 17, 2007

...can't... stop... making... WALLETS!

It's getting real bad. It's all I feel like doing. The satisfaction is palpable, and since each one is turning out better than the last, I'm starting to crave the increasing satisfaction.... it's a fix. I've started enstating rules, like "I can only work on wallets after dinner/before bed". It's getting in the way of my research, a LOT. I'm also not getting enough knitting done for xmas presents. eep.

I want to look into more advanced leather tools... stuff that can emboss, or draw... I like the look of the applique I do, but it does take a long time. I timed myself making a wallet last night, and the general assembly of the interior takes about an hour and a half. 15 mins to cut and interface all the pieces, 40 mins to sew 'em all together and install the zipper coin purse, 20 mins to do the bias tape all around the outside. Then I embellish the outer cover and sew it on. *whew*

As I need to start thinking about pricing, I also need to consider the materials I'm using. I got the leather wholesale; a frigging boatload of it for $25. I seriously don't imagine I'll ever run out of that. I bought cheap broadcloth on sale for the interior... $4 a meter, and a tiny fraction of that meter to make a wallet. Do I have to figure out exactly how much that fraction is to determine the cost? I suck at math. Then there's the cost of the zipper (4 for $.99, pretty negligible), the snaps (I forget), and the bias tape (I forget too). I'm considering opening up a line of credit or a bank account strictly for this endeavor to help keep track of my expenses relative to my profits.

But this all sounds so serious. I mean, a bank account?? If I have a business bank acocunt, then I officially have a small business. Am I ready for that? I'm in the middle of a friggin graduate degree. Am I biting off more than I can chew?

1 comment:

A. & J. said...

Have you registered a name yet? You can do it online.

I would recommend to open the bank account soon. If not, at least a paypal account.

Make sure you keep all of your receipts. They will handy later on.

You can also post your products on etsy.com too.

Just an idea.

J.