Why do you post your financial information?

Scroll down for monthly numbers.

 

After listening to Gary Vaynerchuk's new book Crushing It, and hearing about John Lee Dumas' podcast Entrepreneurs on Fire I was inspired to follow the model they talked about. Gary talked about how John posts all of their financial information for future wantrepreneurs, and I wanted to copy that model and offer the same personal look inside the business. 

Along with making and selling candles, I also make how to videos and try to help beginners in candle groups as much as I can. In doing so it of course brings on more questions about the business, stuff much deeper than what type of wax is best. I now get a lot of behind the scenes questions about starting a candle business and can you make money from it. The answer is of course YES, but that yes comes with a lot of work that most don't see or turn a blind eye too. 

From Snapchat to Instagram, facebook, and Youtube, you can see how much work I put into this side business. The financials are of course a natural curiosity for everyone following along. Along with me showing the candle making process, showing the markets, I wanted people to see just how much goes into the supplies, the planning, and anything else that starts in the dirt and gets overlooked. That's where the financial page comes in. 

This is not to brag in any way whatsoever, I think that is evident by Aprils numbers. :)
This is only to show the details that beginners may not be aware of. Everyone wants to see profit only and forget that $200 monthly shipping fee, and so on. I wanted this page to help those who are thinking of starting, those who struggle, and those who just want to compare notes. I still have some work to do on this page, it is a work in progress. But the basic idea is to show exactly what I am doing and show how and where I am spending, and more importantly, making money. 

As always I am open for questions and comments. 

April 2018

At a Glance

I will update this entry today. I am still calculating the totals for April.

Business Expenses

  • Lone Star Candle Supply -$102.01

  • Candle Science $439.30

  • Paypal Fees -$21.07

  • Office Depot $13.01

  • Specialty Bottle -$69.82

  • U.S. Postal Service -$206.72

  • Amazon / Tent $195.25

  • Squarespace -$46.00

  • Employee $80

Total Gross expenses for april = -$1173.18

 

Business Income

  • Paypal $488.00

  • Stripe $300.89

  • Youtube $43.34

  • Undocumented sales I do not have these recorded ~ $160

Total Gross Profit for January = 992.23

Total Net Profit for april = (negative) $180.95

2018

March 2018

Business Expenses

  • Candle Science -$556.02
  • Lone Star Candle Supply -$48.13
  • Specialty Bottle -$46.58
  • Lone Star Candle - $48.13
  • Squarespace - $46.00
  •  

Business Income

  • Stripe - $89.74
  • Paypal - $552.83
  • Work Sales - $100

2018

February 2018

Business Expenses

  • Candle Science -$148. 80
  • Squarespace - $46.00
  • U.S. Postal Service - $45.14
  • Brambleberry - $212.94
  • Lids - $13.00
  • Facebook - $29.25

Business Income

  • Paypal - $203.28
  • Stripe - $45.00
  • Youtube - $40.98
  • Work sales - $100

2018

January 2018

At a Glance

Still being edited, all expenses and profits have been fully entered.
January was a very slow month for Standley Handcrafted. There are no markets open and it's too cold to try and stand at a store for a weekend display. I was lucky enough to get a larger order from a business in Ohio that helped salvage what would of been a bare month otherwise.

We had 358 unique visitors to the website in January which resulted in zero sales. Those are terrible numbers which are the result of not having sufficient stock during the month, sub par pictures of the products, and no descriptions on the products. All of which has been fixed or currently being fixed. 

Business Expenses

  • Lone Star Candle Supply -$46.84
  • Paypal Fees -$13.97
  • Specialty Bottle -$90.00
  • U.S. Postal Service -$26.12
  • Squarespace -$46.00

Total Gross expenses for January = -$222.93

 

Business Income

  • Paypal $460.00
  • Youtube - $31.71
  • Work sales but I do not have those recorded ~ $100

Total Gross Profit for January = $591.71

Total Net Profit for January = 368.78