Creating this topic for forum readers that are considering a pottery business. Which of these factors do you see as the biggest barrier to the success of a pottery business? Please add any other significant factors you think should be considered.
1. Product - Includes technical production factors and market appeal
4. Distribution - How are you going to reach your customer base?
(of course you need all marketing variables to work in tandem to create a successful marketing mix but consider which are the most difficult)
1. Cash flow
2. Return on capital investment (ROI)
3. Start up capital
4. Opportunity cost of wages (time spent in pottery versus a job or another business)
After 4 years of reading and studying the pottery business, I think distribution is the largest obstacle in the marketing mix to establishing a successful pottery business. Establishing exactly where you are going to market your wares seems to be the most difficult marketing aspect. And then creating the right marketing mix for that distribution market.
Closely followed, is cash flow. Can a potter survive long enough to get the right marketing mix?
I've found ROI to be really high (20% is acceptable to most investors, I see 30% (plus) in this type of business). Start up capital for a pottery business is relatively low, compared to other businesses I've evaluated or owned. I do see that many people pay a high opportunity cost of wages for being an "artist".
Very interested in seeing other opinions on this.