Yay Splash! looks like a good site and had positive feedback when I tested it with friends. So to add to the discussion above…
When scaling up it can be really tricky balancing the organic growth you want, with the growth capital you may need. Taking on debt or investors will fundamentally change your business model and your relationship with your business, so it’s really important to shop around and make sure the right solution will work for both you and your business. Get to know all the pros & cons with each option, and talk to other founders who have been through similar challenges to hear what worked for them, and what didn’t.
Financing the next production line will just be one part of your growth strategy, so before spending cash on it there’s work you can do for free/cheap to properly fitness-test Yay Splash! first and make sure you’re still on target (so every dollar spent goes much much further). Although you’re not be a fan of social media, it will be a huge factor in connecting with customers, validating your product lines and scaling up. You may already be doing these but…
– Increase your direct customer engagement (hear what they value most about your bikinis and swimwear, what do they want next)
– Coordinate social media campaigns (collect feedback on products and test potential demand before spending any cash)
– Review your branding and marketing (update website, fresh images, new campaigns, experiments, etc.)
– Consolidate product lines to strengthen your value proposition (use your sales and website data to grow fewer ‘great’ products)
– Network with local entrepreneurs & promote local founder stories about you and Yay Splash! (raise awareness, meet prospective co-founders + partners)
– Re-evaluate your manufacturing costs (materials vs. value proposition, consolidations scenarios, partnerships)
– Plus lots more…
Your local Regional Business Partner and AucklandNZ networks (or even your local business association) have people dedicated to working with founders like yourself to grow your business. They’re a good place to start to take you through each step, so if you haven’t already register and bring them onboard!
Kia kaha and look forward to seeing the next updates!