Student and graduate enterprise
Creative graduate spots a gem of an opportunity
Company
Bojangle Beads
Loughborough graduate
Katy Widdowson
Textile Design
Having channelled her passion for fashion, beads and jewellery through a textile degree course, setting up her own business seemed the logical step for Katy.
So after a three-year stint as purchaser for a large online bead retailer, Katy launched Bojangle Beads in Loughborough in October 2009. One of just a handful of bead specialist stores in Leicestershire, Katy runs the business with her husband Steve, a Nottingham Trent graduate, and her parents. The retail outlet is enhanced by a thriving e-commerce business selling some 3,000 product lines.
Workshops are run throughout the week including evenings and weekends to serve a growing customer base. An avid recycler, Katy runs specialist courses on how to transform pocket watches, buttons, badges and even Scrabble tiles into jewellery. Despite a difficult economy, the business is growing and Bojangle Beads is set to move to larger premises in 2011.
“Even though people do not have a lot of money, they are turning to their hobbies - the gift and craft industries have not been affected as much as some. The online business has grown especially and we are increasing our product range to keep things fresh. The move will give us a bigger workshop area and more room for stock,’’ said Katy.
After three years as an entrepreneur, Katy has words of wisdom for students and graduates taking their first steps in business.
“My advice would be to prepare as much as possible in advance. The importance of a fully detailed business plan cannot be underestimated. Figure out all your costs in advance. If we hadn’t done such a detailed business plan, we would not be doing as well as we are now. The business plan is continually evolving too, as we change and modify our goals.
“Also accept that one person can only do so much work, know when to call on others to help.’’