Couple goes big on small business dream with DIY Craft Bar
Winnipeg couple gave up lucrative careers to build their own business
Sheri and Clifton Doyle had successful careers in investment banking andfashion,but while thosewerefinancially sound jobs, they couldn't compete with the strong allure ofowning their own business.
"I've always had the drive to be an entrepreneur," saidSheri Doyle.
After seeing a concept in the U.S. combining crafts with a bar-like atmosphere, they started the process ofopening their business, DIY Craft Bar on Sargent Avenue. Itoffers multiple do-it-yourself crafts with instructions that people can create, along withsome finger foods, craft beer or wine.
They may get a little boost from the Canadian Federation of Independent Business. This weekend, the business advocacy group is promoting Shop Small Business Saturday, which encourages more people to go out and shop local.
For Sheri, who always loved arts and crafts, thedecision didn't come without a lot of thought of what she wasgiving up.
"It was a huge step.Having a career in fashion for 15 years and saying goodbye was extremely difficult."
For her husband, Clifton, it was an easier decision.
He studiedcomputer animation in school, but when he struggled to find a job, Clifton turned to work in the banking industry, and worked for 13 years at two major Canadian institutions.
"Investment banking was great, I met a lot of great people, but in the end,it was just not my calling.Ithought, it's just time to do something different, and you only live so long," saidClifton.
"We've always wanted to get into business together and one day Sheri just said to me, we should do this."
Small business survival
The Doyles, who havea daughterand twin boysage nine to11, put a lot on the line. They took out $190,000 insavings and loans to pursue thebig dream for their small business.
It is a high-risk dream.
Survival rates of businesses from 2001-15 were tracked in a 2019 Government of Canadareport.About 36per cent of new businesses won't survive past fiveyears, the report says.
On Tuesday,BDC a bank that specializes in financing and advice for entrepreneurs released a study stating 44,700Canadians started a business in2018,the highest number of new businesses in Canada in the past 10years.
The same study also noted fewer than one in two ventures are still open after 10 years.
Jonathan Alward from Canadian Federation of Independent Businesssays hisbusiness advocacy group is still seeing a positive trend.
"We have been looking at data for the last decade or better, and if you look at small businesses, there are more businesses being created than are exiting, which is exciting," saidAlward.
In 2016, CFIB says 4,950Manitoba businesses enteredthe market,while 4,310left.
Crowds test the concept
The DIY Craft Bar has been open since August, and on a Friday night in September it drew a group of eight women looking for something to do together.
"Tonight we thought we would take a break from all the analytical thinking at work and high stress environment, and use a different part of our brain to do something creative and fun," saidGina Scaramuzzi, who was working on a rustic sign for fall.
Others put their creative efforts intomaking coasters, cement pots for succulents and string art.
"The wine helps, so it's been great," saidScaramuzzi, laughing.
The Doyles are relieved thatpeople are enjoying the concept. For now, they say they'remaking enough profit to pay their bills and keeptheir small business dream alive.
"I do worry about the future, but I've seen other models like this succeed in other places, so that's what keeps me going. I know it's possible," saidSheri.
"Now we're ramping up toward Christmas and Halloween and we're meeting our targets, so we're pretty happy."
_(720p).jpg)
 OFFICIAL HD MUSIC VIDEO.jpg)
.jpg)
