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Rough beginnings
Despite the initial success of the venture, the sisters soon discovered the need for more than just inspiration to keep the business going. Their initial business strategy could fit into a miniscule clutch. Greer describes it as having “no business plan, no money, no supplies. Add lack of sleep and a couple of boyfriend break-ups for flavour and it’s a wonder we made it through the first couple of seasons. We literally spent year one simply reacting to deadlines at whatever financial cost. We had no efficiencies, no streamlining and little time to think about future direction. We were mentally, physically, economically and socially broke.”
 If they had to do it all over again, the sisters agree that they would have accepted taking a financial risk and investing in the company earlier on with better equipment and the bricks and mortar store—which they eventually opened in London, Ontario in 2006.
They also attribute much of their success through word-of-mouth marketing. While each purse party has its own sales, the ripple effect of recommendations of former hostesses and party guests is undeniable. New product lines, which come out each spring and fall, encourage repeat purchases and start the WOM cycle all over again.
Now having been in operation of almost three years, the sisters are happy with the success they’ve had to date but feel the strain of being in the awkward “teen” phase of the business life cycle. The need to take GreerGirls.com to the next stage requires the introduction of more automation, additional employees and added sophistication in the production process. All of this is geared to serving a larger customer base while maintaining the same high level of quality.
“Are we prepared for it? We have to be, as the risks are no longer only our own. We have to consider our customers, investors and other long-term supporters,” says Greer.
Adding bricks and mortar
In 2006 Greer Girls opened their first location in London, Ontario. They consider this the milestone that gave the business a legitimacy they felt was sorely needed. “Working out of your parent’s basement doesn’t cut it, regardless of whether you’re producing a comparable product or not,” admits Greer.
The sisters feel going “bricks and mortar” has been the most exciting adventure and the most rewarding accomplishment so far. “It’s established a permanency, a market presence that we could never satisfy previously. It’s given us an identity that we didn’t even realize we lacked!” Greer explains that the absence of identity was something they hadn’t considered to be a problem, based on the success of the online and purse-party aspects of the business.
Support: priceless
Greer can’t overstate the importance of establishing a financial and emotional support system to turn to when needed. “Abby and I would be nowhere without each other,” she claims, but she also cautions that a solid business plan and strategy need to balance out the warm and fuzzies. Entrepreneurs should take that excitement and motivation for a fabulous idea and use it to develop a plan that will show banks, investors and even friends and family that they mean business.
While finding a way to channel your passion into a successful business is rewarding, it is made all the richer when you can share in the journey with a supportive group, The ability to share with partners, investors and customers offers more incentive than financial success alone. “The last few years have been a complete riot working together. We’ve had our moments, no doubt about it, but if you want to laugh until you cry (sometimes cry until you laugh) on a regular basis…then start up a family business.”
While starting this grand venture was easy, it was finding the steps to ensure that the business would succeed and eventually grow that gave GreerGirls a true run for their money. Still, to turn an initial $800-or-so investment into an e-commerce site, purse-party enterprise and retail store is a chocolate-fountain-worthy achievement.
And finally, Greer tells us what a woman needs to know in order to find happiness in a handbag. “A woman will be perfectly delighted with her handbag if she chooses a design that offers utility to compliment her lifestyle, but just as important, a look that makes her feel great.”
Discover more about Greer Girls’ custom-made purses by visiting www.greergirls.com/
About Grand Ventures
Grand Ventures is a monthly article series about women who have started a successful business with a capital investment of less than $1,000. Are you the owner of a grand venture? We’d love to hear your story. Contact us today.
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