I just ran across some old “Gross Revenue” data of Bountiful Baby, for 2002 through 2005, that I thought I would share.
In 2002, gross revenue for BB was $15,891.86. This was the amount that Denise earned from creating reborns and selling them on eBay. I was still doing computer consulting in 2002, and my computer consulting income was significantly higher than that for 2002, so our family mainly lived off of my consulting income.
In 2003, gross revenue for BB was $42,632.40, which was split about half and half between selling supplies, and Denise reselling her reborns. After subtracting expenses, it still was not sufficient to support our large family, so I was still doing computer consulting.
In 2004, gross revenue soured to $276,899.00. Subtracting “Cost of Goods Sold”, and subtracting other expenses, yielded about 20% net profit, or about $55,000 as the “residual income”. Much of that residual income was pumped back into the business for growth, which left very little for the family to live on. But we survived. So even in 2004 I was still doing a little bit of computer consulting to supplement our family income, although that era of my career was rapidly coming to a close (with many wonderful thanks to my wonderful wife Denise).
In 2005, gross revenue rose to $365,026.56, which left (after expenses) about $73,000 residual income for the family to live on, plus finance additional growth. I was finally able to completely stop doing computer consulting, and our family was able to live off of Bountiful Baby income. I like to tell Denise, “this is all your fault”, as I smile broadly and give her a big thankful hug.
It was sometime around early 2005 that we got a knock on the door. It was someone from Davis County Licensing. They showed us a Davis County regulation that limited home businesses to 500 square feet, and we were too big. So, either scale it down or move it out, and we had 30 days to comply. So we moved our business to it’s first commercial location in Salt Lake City, close to UPS, Fedex, and USPS shipping centers. We moved again to our present location in 2011. And as they say, the rest is history.
A few years ago a successful local businessman tried to give me kudos for creating a successful business, and said I was “very smart”. I replied that much of the success of the business was my wife’s doing, whereupon he said, “well, you were smart enough to listen to her”.
Yes, I was smart enough to listen to her. And for that I will be eternally grateful.