I can't believe we are already one month into 2012! We are celebrating our 5th year in business which is a true milestone for any new business! With every new year come new changes and this one is sure to have lots of change in store. For one thing our son, Drew is going to be leaving us to attend the Musician's Institute in Hollywood, CA later this year. In fact, he and his father are there looking at the school as I type this. Drew has been with us in the business since the idea originated around our kitchen table just a few short years ago. He has been a blessing and a help to us and we will miss him here greatly, but would never hold him back from pursuing his dreams. With Drew leaving we will be replacing him with 2 p/t associates at some point this year prior to Drew's leaving in the fall for LA.
Speaking of changes we are also adjusting our "in-store" hours to opening at 8 a.m. Monday through Saturday instead of 6 a.m. like we used to. Of course we are available on-line 24/7.
Reflecting back over the past 5 years we expected to be further along in our business with David set to retire from is "real" job & join me full time at the store. With the economy the way it is that is simply not going to happen for a while longer. While we continue to grow at around 12% in sales annually our rate of growth has slowed from the first three years where we were growing at 20%. In addition, our cost of goods rose by a whopping 45% last year alone! Of course we raised our prices in response to the rising costs, but we would not have any customers if we raised them by 45%, so the difference simply eats into what could have been a profit. However, in view of how bad things are for a lot of folks right now we are happy with the growth we are experiencing and hoping that prices will at least stabilize this year.
As always, we appreciate your support because without you, our customers, none of this would be possible. So, while Drew heads off to pursue his dreams and we continue in our quest to live ours we wish you & yours sweet dreams & all the best in your own new beginnings!