CLOSED

Handmade jewellery shop opened · CLOSED after 1 yr 7 mo

Lee Sun-woo, 44 · 1 yr 7 mo

“Turns out busy and profitable are different words lol”

I closed after 1 year and 7 months. What remained was $63,288 in debt and 12 regulars.

On the last day, you posted a closing notice on the store’s front page. Cash $4,263, debt $63,288, 0 employees, 115 customers. You packed the last order, sent it off and closed the laptop. The business failed, but that time did not disappear.

How it went

1. 2026 · preparing to openLee Sun-woo, 43. You have decided to try starting a company in Austin. No idea, no product yet. Savings $73,624, employed ($9,851 a month).
2. 1/2026: what now?Start a business: «Handmade jewellery shop» — You are going with «Handmade jewellery shop». Next: who works with you.
3. First, the right to stayBring in a local co-owner — An old acquaintance put his name on the papers. The bank clerk explained everything to him, not to you. You remembered that for a long time.
4. Who starts it with you?Part-timers for the busy days only — Two students took turns. Both told you their exam weeks in advance. You were grateful.
5. 2026 · year 1 beginsUS Rates Rose Again
6. 1/19 · Oil reached the cost baseBrent rose to $127 a barrel. Quotes for packaging and freight are not what they were last month. You redid the cost sheet.
7. 2/17 · A family emergencySomething came up in the family. You dropped what you were doing and went over.
8. 2/22 · Equipment stoppedThe technician said a repair would cost nearly as much as a new one. You bought new.
9. 3/18 · FamilyAt dinner nobody brought up work. You understood that was a kindness.
10. 3/30 · A price warA seller with the same product cut the price by 10%. Your listing slipped a place in search.
11. Financing declinedThe Bank working-capital loan application was declined.
12. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. But underwriting declined it. Credit and cash flow need another look.
13. 4/11 · Supplier price increaseA new price list came from the supplier: your most-used items are up 4%. You redid your prices.
14. 5/30 · Records requested by the tax officeIRS requested records for credit card sales and cash sales. You opened the books again.
15. 6/24 · Your mentorYour mentor sent a link to an article. “This sounded like you.”
16. Financing approvedBank working-capital loan $4,900 · 8.0%/yr · 60 months
17. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. Bank working-capital loan $4,900 approved.
18. 7/22 · Loan payment dayLoan payment day. $99 in principal and interest left the account. The balance is $4,900.
19. 8/13 · Repeat buyersMore customers placed a second and a third order. One wrote in the note: “Counting on you again.”
20. 8/30 · Reviews piled upThree one-star reviews with the same wording appeared in one day. You could not tell whether they were customers or a competitor.
21. Cash ran outTake a credit loan — The rate is 20%. You can breathe, but the interest comes back every month. The repayment schedule in the banking app starts to look like a calendar.
22. 9/6 · A family emergencyThe school called about your child. You left the work in other hands and rushed over.
23. 9/15 · Down sickDay three of a cold that will not lift. No time to see a doctor.
24. Financing approvedBank working-capital loan $4,900 · 8.6%/yr · 60 months
25. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. Bank working-capital loan $4,900 approved.
26. 10/12 · Oil reached the cost baseBrent rose to $127 a barrel. Quotes for packaging and freight are not what they were last month. You redid the cost sheet.
27. 10/17 · Equipment stoppedThe technician said a repair would cost nearly as much as a new one. You bought new.
28. 11/12 · Records requested by the tax officeIRS requested records for credit card sales and cash sales. You opened the books again.
29. 11/19 · An employee quitAn employee said this month would be their last. The warehouse nearby pays more an hour.
30. A gap opened in the rotaMake an urgent replacement hire — You hired the person who laughed most in the interview. Customers learned their name before you did.
31. 12/11 · Your mentorAn old mentor called. “What scares you most right now?” they asked.
32. 12/18 · Funding costs rose againThe US 10-year yield rose to 5.63%. The bank is taking another look at your loan terms.
33. Financing declinedThe Bank working-capital loan application was declined.
34. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. But underwriting declined it. Credit and cash flow need another look.
35. US Rates Rose AgainSignals of Fed tightening strengthened the dollar, and this country's funding rates followed. When the USD rate jumped, costing got complicated again for anyone buying imported ingredients or parts.
36. Year 1 closeRevenue $55,756, loss $35,604. Cash $16,375.
37. 2027 · year 2 begins3 A.M., Your Heart Was Racing
38. 1/16 · A price warA seller with the same product cut the price by 10%. Your listing slipped a place in search.
39. Cash ran outTake a credit loan — The rate is 20%. You can breathe, but the interest comes back every month. The repayment schedule in the banking app starts to look like a calendar.
40. 2/24 · Supplier price increaseA new price list came from the supplier: your most-used items are up 9%. You redid your prices.
41. 2/25 · FamilyYou talked with your family for a long time. Someone said, “You come before the money.”
42. 3/26 · Down sickDay three of a cold that will not lift. No time to see a doctor.
43. Financing declinedThe Bank working-capital loan application was declined.
44. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. But underwriting declined it. Credit and cash flow need another look.
45. 4/4 · A family emergencyThe school called about your child. You left the work in other hands and rushed over.
46. 5/18 · Repeat buyersMore customers placed a second and a third order. One wrote in the note: “Counting on you again.”
47. 5/23 · Equipment stoppedThe technician said a repair would cost nearly as much as a new one. You bought new.
48. 6/4 · Loan payment dayLoan payment day. $1,487 in principal and interest left the account. The balance is $64,295.
49. Financing declinedThe Bank working-capital loan application was declined.
50. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. But underwriting declined it. Credit and cash flow need another look.
51. 7/12 · Reviews piled upThree one-star reviews with the same wording appeared in one day. You could not tell whether they were customers or a competitor.
52. 7/25 · An employee quitAn employee said this month would be their last. The warehouse nearby pays more an hour.
53. Cash ran outClose the shop — On the last day you closed the books. The faces of a few regulars came to mind first.

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