I like to think I am an endlessly positive person, especially where Bunyip is concerned, but this is a tough one to write and has been a tough decision. I’ve come out of the other side of the shame and failure, and am trying really hard to see change as good.
Bunyip Craft is on the move once again. The costs in our big, beautiful shop have become too onerous, despite cutting every cost to the bone, lowering staffing hours and working in the shop as much as I can. Business Rates have gone up twice since I’ve been here, and in the last re-evaluation the percentage discount the shop used to get for being landscape shaped rather than portrait shaped was taken away too, so my rates are almost entirely made up of retail zone A, ouch! Being over the VAT threshold doesn’t help either, with VAT at 20% many businesses struggle at this point of their growth.
My lease is up on 1st October and I just couldn’t afford to re-sign it. This is not because we’re not a successful business, we have a good take through the till, and online, but the costs are too high to be able to make the maths work and customer spend is going down. Our footfall is steady, as is our number of sales, but sales are getting smaller as customers feel the pinch and worry about their own incomes, Brexit and the world economy.
So, the upshot is, we are looking for a new premises, something more affordable, smaller certainly, but nothing right has presented itself yet. We would love to have a place with an office and workshop space, so that we can carry on with our parties and teaching, as well as the shop. We don’t mind where it is really, we hope we have the customer loyalty and brand recognition to take being off the main drag. If you know of anywhere, please get in touch, all offers considered!
This might be a chance to change the way I run the business, I’ve been running Bunyip for over 15 years now, and with 2 kids and a husband who can work more hours if I give him the time, life has changed a lot in that time. I have loads of ideas I’d like to work on, I’d like to wholesale my jewellery making and sewing kits, along with making jewellery for other shops, I’d like to do more shows and craft fairs, I’d like to have time to spend on my website, Etsy shop and blog, I want to run DIY craft pub nights, I want to host Pop ups all over the place, I want to teach more, I want to have the flexibility to be able to run with an idea or offer that comes my way. I can’t do any of this at the moment because I have to be on the shop floor to sell a 40p metre of elastic or 6 buttons. I’m grateful for every person who’s bought that 40p metre, don’t get me wrong, I wouldn’t have survived without you, but this might be time that I get to put my entrepreneurial and creative hats back on.
Retail is an ever fluid market, and the times, they are a changing. I think the future of retail may be in shared spaces, people working together to have the presence and knowledge each business needs to survive. I would love to be part of something like that in Exeter, and be as present in the fight for supporting Independent business in Exeter as I’ve ever been.
Please get in touch if you have any ideas, spaces for rent, wholesale opportunities or just want a chat, I’d love to hear from you on email@example.com or in the shop… for a while longer!