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Profits stirred up with a teaspoon

first_imgBUSINESS NAME: Taylor’s Tea House BUSINESS ADDRESS: 850 East Thousand Oaks Blvd., Thousand Oaks, CA 91360 PHONE: (805) 230-3030 WEB SITE: www.taylorsteahouse.com OWNER: Kim Spaeth ESTABLISHED: 2005 NUMBER OF EMPLOYEES: Eight DESCRIBE YOUR BUSINESS: Taylor’s is a birthday party/special event facility offering several types of parties. All parties are inclusive, and Taylor’s takes care of every detail. IS THIS YOUR FIRST BUSINESS? No. I’ve had other small businesses. WHY DID YOU START THIS BUSINESS? After three kids and staying home for five years, I was looking for something to challenge my brain and still allow me the time to take care of my kids. WHERE DID YOU GET THE IDEA? The idea for Taylor’s initially came from a family member, and many other family members and friends add new ideas regularly. HOW LONG WAS IT FROM CONCEPT TO OPENING? About six months. WHAT DID YOU DO DURING THAT TIME? Lots of research, finding the right products, building a marketing plan and just preparing. WHAT WERE YOUR STARTUP COSTS AND HOW DID YOU FINANCE THE BUSINESS? Initial startup cost was about $50,000. We used our home equity line. WHO DID YOU RELY ON FOR ADVICE? My husband, my parents and my brother. Between all of them is a wealth of business knowledge. WHAT HADN’T YOU CONSIDERED BEFORE OPENING? I originally thought setting up a business would require me to hire others, when it was actually very easy to do most aspects myself. This allowed me to learn how to get going and of course to save money. WHAT IS YOUR EXPECTED REVENUE THIS YEAR? $150,000 WHAT GOALS DO YOU HAVE FOR THE COMPANY? To grow 15 percent this year, secure a location for store number two, create and implement a summer program of etiquette classes and camps and have some fun doing it! To be considered for a small business profile, you should have fewer than 10 employees and be locally based. For a free profile questionnaire, call (818) 713-3677. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more