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November 1, 2005 |
Meet Jan Stephenson and
Amy Appleyard
 With the launch of Spark Craft Studios in January, Amy Appleyard and Jan Stephenson are igniting the interest of modern women near Boston in being crafty and creative. Spark Craft Studios (www.sparkcrafts.com) is anything but Aunt Bea's quilting klatch. For $30 on a Friday night, women can sip wine and socialize while learning to make those big sparkly necklaces that are all the rage. They can choose from about 40 classes and events per month like holiday-card making or knitting, in a setting more like a lounge than a craft store. The a la carte class menu means women don't have to sink serious time or money into creative pursuits. Most classes last 2.5 hours and are scheduled on weeknights or weekends. They cost about $25 plus materials, which average $10-15. Entrepreneurial Quote of the Day Jan: "Sometimes a cool idea can just be brewing for a while and then opportunity and your own hard work allow you to pursue it." Their Adventure Begins in MBA Program Amy: "I had worked as a theatrical lighting designer with a variety of companies all over the U.S. But I had gotten married, had a baby, wanted to settle down a bit, and decided to attend the MBA program at Boston University and head back into arts administration, pick one city and stay in one place." Jan: "Before I went to business school, I was a fundraiser working for large non-profit organizations. I went back to get my MBA to become a high-level non-profit manager." Lighting a Fire Under Spark Craft Studios Amy: "We had to write a business plan for a social entrepreneurship class. As we started to develop the idea for Spark Craft Studios, we realized this was a once-in-a-lifetime opportunity. So we decided to go for it. While most of our friends were settling into potential careers, we realized we were going to make (Spark Craft Studios) happen." Jan: "People were into the do-it-yourself thing and the crafts thing and it was becoming younger and hipper, but traditional craft retailers weren't hitting on this or on the socializing aspect of doing crafts. We wanted to update the idea and create classes and events for women who are busy and professional." Courage to Ditch Safe Career Jan: "We were so obsessed with getting this idea to fruition. We could see in our mind's eye so clearly what we wanted to create. I just saw wild success down the line." Money, Money, Money, Money Amy: "As the capstone of the course we took, Jan and I gave a presentation about Spark Craft Studios to a panel of judges. Two of the judges were angel investors. They asked us if we had a term sheet. We hired a legal team and an accountant and valued the company. We went back to the angels and they decided to invest. "Friends and family also invested. Within four months, we raised what we needed to get the doors opened. We spent lots of time meeting with people and pitching the idea. We would get people interested, but they wanted to see proof-of-concept. We didn't raise as much as we had originally budgeted, so we reduced expenses and decided to pay ourselves only a modest stipend to begin." Proof of Popularity Jan: "When we opened our doors (in January), we had 500 people on our mailing list, now we have more than 3000. It's primarily grown through word of mouth, people passing by or finding our site online. We're getting a lot of repeat business and we're seeing a lot of new faces as well." Re-Creating the Craft Biz - with Style  Jan: "A lot of craft retailers are retailers first and offer classes second. We flipped that. We have a 3000-square-foot facility. Only one-third of it is dedicated to retail. We want people to feel that we're placing emphasis on socializing and community. We're also putting a fashionable twist on crafting - for example, taking a piece of jewelry we see in a fashion magazine and teaching people how to make it themselves. Women are coming because they think it's a cool night out." Building Buzz - with No Ad Budget Jan: "Partnerships are a great way to get large groups of people to Spark Craft Studios. We're working with the Boston Young Professionals Association, the Harvard Business School Partners Group, and alumnae associations. The private party segment of our business really took off. People come here, see the space and get excited about bringing 10-20 of their friends for a jewelry-making party. We're leveraging that strong word-of-mouth." Future Goal: Franchises Amy: "In the next six months, we're going to make this first location self-sufficient and hire someone to run the day-to-day operations. We never intended for this one store to pay each of us post-MBA salaries. It does need to provide the person who runs the store an attractive income. That will make the idea appealing to potential franchisees." Greatest Challenges Jan: "For me, the greatest personal challenge is juggling detail-oriented tasks and doing what I really want to do - think big and develop strategies for building an empire." Amy: "We both had well-paying jobs before Spark Craft Studios - we were self-sufficient. It's tough to feel like we're putting a strain on our significant others while we take the risk of starting a new venture." Greatest Successes Amy: "We are creating a community that's unbelievable. Our clients are making connections with one another. Our employees love coming to work. That's not something they teach you in business school - how great it feels to create a place where people want to come to work - and play." Jan: "No matter the challenges, we keep plowing ahead. We raised less money than we had hoped, but we got this business off the ground and we're proving the concept every day. It shows you anything is possible, as long as you are persistent and positive. We are gaining recognition within the industry and among our client base. That is an amazing feeling." Words of Advice: On Securing Capital and a Good Biz Partner Jan: "Raising capital is a challenge, especially for women entrepreneurs. There are resources available, such as SBA (Small Business Administration) or women-in-business loans, but it can be difficult to secure them without collateral. It's likely your first round of financing will come from friends and family - make sure you're comfortable with that. Also, be realistic about how much financing you need to get you through the start-up phase." Amy: "Find a business partner who may or may not be a friend. Jan and I partnered on this venture because we have complementary skills. It's an added bonus that we have also become really good friends in the process." |
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