Please, introduce yourself and your business.
My name is Sandra Spades. I opened a tattoo shop in 1992 and a smoke shop right next to it in 1995.
How did you start your business?
I opened the tattoo shop in 1992 and was tattooing (until recently), then my (ex)husband and I opened the smoke shop in '95. It actually started out as a body piercing (he was a piercer) and metaphysical shop but gradually turned into a smoke shop after getting requests for those products.
Now it is exclusively a body piercing and smoke shop . I got sole ownership of the shop in 2015. My shops were the first tattoo shop and smoke shop in my town.
How much revenue was your best year?
2.1 million
When did you notice traction when building your business? The “Oh S**t!” moment, what did that feel like?
It's been up and down over the years. My ex really let things go in the smoke shop as he was pursuing different business ventures.
I pretty much had to rebuild it but have been doing great with 2021 being the best year. Things have slowed down a little since then. Post-COVID drag I think
What was your childhood like? Were you slinging candy on the playground?
We lived overseas. My dad was on a teaching project. When we came back to the states I learned pretty quickly that I could do odd jobs and make money so I did. I was all about the money lol
What has been your best marketing marketing channel?
I would say nowadays Facebook but I am limited on what i can advertise because of the nature of the business. I mostly post in our story because the AI wont flag it as easily
How many attempts at building something did you make before you found what you’re working on now? Did you always have an entrepreneurial drive?
Back in the 1980s me and my first husband were franchisees of a well-known pizza chain.
We were quite young (20s) but things were easier to get into back then. He decided to sell that business (i didn't want to) and go into the trucking biz and we lost everything pretty much. We got divorced and tattooing was the only thing I really knew so thats how I started.
What is your biggest overhead expense?
Payroll. I own both my buildings and they are paid for.
What’s the most important skill you’ve learned?
You have to say "no" to employees that ask for loans unless they have been with you a long time and then keep it At a minimum.
You have to say no to vendors that try to push goods on you that won't sell, no matter what hype they tell you, and you have to say no to worthless advertising. You have to know your demographic to target that advertising
What do you spend the majority of your time doing, in a given week? (I think a lot of people hear entrepreneurs “work,” but may not understand what that means on a day-to-day basis.
I am just in my shop, making sure everything is looking good, interacting with my customers and doing some paperwork. I have a purchasing agent and she does a great job. When I retire she will probably buy the business from me.
What do you know now that you wish you knew when first starting your business?
it's SO IMPORTANT to stay on top of your taxes!! I pay estimated quarterly taxes and they are sizable. I don't spend any money or put money in my retirement portfolio until I make sure ALL my taxes are paid!!
I cannot stress that enough. People start making money and they start spending it all willy-nilly and then dont have the money to pay their taxes. Don't mess with the IRS!!
The world of entrepreneurship can be misleading. Many people think it’s always easy and always glamorous. What’s a big problem you’ve faced as a business owner and what were the emotions behind it?
You have to be in your business a lot to make sure things are done right. You can't just let it be. When I was in the restaurant business this is especially true and why I would not ever be in that business (or the bar business) ever ever again. You have to be married to those businesses.
Many people don’t know where to start in the business world, they feel stuck. They may want to start a business to become their own boss and create their hours. What is your best advice for someone who feels completely stuck?
Make sure you pick something you love but that will make money. Services are best because you aren't trying to sell material things. Retail is hard and I would not want to start a retail business now.
Learn a skill and get good at it and make a business surrounding that. And not something a zillion people are already doing either. I know it's harder now than when I started.
