Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Coco Quill, founder and CEO of Whiskey & Woof Candle Atelier, located in Brooklyn, NY, USA.
What's your business, and who are your customers?
Whiskey & Woof Candle Atelier scented products are inspired by human's greatest companions. The brand appeals to dog and whiskey lovers and those who have a sense of whimsy, enjoy the scent as a storytelling method, and elevate their spaces through their passions.
Tell us about yourself
I've worked in marketing for global brands, including Yahoo!, MTV Networks, Disney, and Sony Music, for over fifteen years. I was living in London for a few years. My Frenchie, Elle, and I were visiting New York and had friends meet up at a whisky distillery. Working in tech and being a member of the British Bourbon Society, I often found myself the sole female in board rooms and socializing, and on that trip, I realized many of my peers were in a similar situation.
Elle was a micro-influencer who also had branded modeling jobs in London. People were inquiring if I was ever going to come out with her own fashion line. After that trip to New York, I started to map out different ideas of how I could combine these passions for whiskey and dogs without being exclusionary to dog moms. Elle had beautiful pieces from English, French and Italian brands using the highest quality fabrics, including cashmere. I kept thinking there had to be a way to celebrate that love in an elevated way that was not already being done.
When we moved back to Brooklyn in 2018, I started to think about a brand venture again, going to entrepreneurial panels. The biggest message was the hardest part was starting. I started developing candle scents realizing it was the storytelling method I had been seeking. Whiskey & Woof launched in August 2019.
What's your biggest accomplishment as a business owner?
Coming from a career in digital and content products, it is an honor to have products I make embraced into people's spaces. It's an intimate connection that I'm grateful for with every order. The first in anything is great, but the repeat clients, the ones that become friends, have been the greatest accomplishment.
What's one of the hardest things that comes with being a business owner?
Unsolicited advice. Rising vendor and shipping costs. I asked a wholesaler at a conference how we can retrain clients not to expect constant deals and discounts when costs are rising. He told me to raise prices the month before a sale. That is not building trust with clients. Endless discounting chips away at the value of a brand. Wholesaler platforms holding promotions where a bulk discount is already averaging 50% off, asking brands to further discount or do free shipping promotions is killing a lot of small business owners who can't afford to reduce their profit margins to as little as 10%. It's not only the bulk discount. It's the cost to make the products, taxes, salary, insurance, and shipping costs. Retailers will be making more from that product than the brand owner. Asking for extra free samples, free shipping, and further reduced pricing is why it's very challenging for those that are self-funded to be able to scale their business. 90% of small businesses go out of business in the first year. There are many barriers to surviving and thriving as a small business.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Save three to four times more than projected for self-funded businesses. Attend panels, ask questions, find out what the laws are in the state for the type of corporation you are forming, and what is the minimum balance for a business bank account.
- Have a solid business plan, brand deck, and trusted group of advisors. Find a business peer group.
- I strongly advise avoiding any type of alcohol being part of the business name because it will be a time-consuming challenge to purchase ads and maintain social media profiles.
- Recognize what is worth paying fees for and how that can free up time to grow the business.
Where can people find you and your business?
Website: https://whiskeyandwoof.com/
Facebook: https://www.facebook.com/whiskeyandwoof
Instagram: https://www.instagram.com/whiskey_and_woof/
Twitter: https://twitter.com/whiskeyandwoof_
LinkedIn: https://www.linkedin.com/in/colleenquill/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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