Office Space Expenses

$0

$7,000

Employee & Freelancer Expenses

$151

$352

Website Costs

$223

$7,215

Business Formation Fees

$5,600

$20,400

Retail Business Expenses

$1,250

$11,650

Inventory Expenses

$350

$14,750

Software Expenses

$162

$3,094

Advertising & Marketing Costs

$75

$5,286

Total Startup Costs

$7,811

$69,747

Bambaw

bambaw.com

627,357

Final Straw

finalstraw.com

750,298

GlassSipper

glasssipper.ca

776,153

GoSili

gosili.com

1,448,246

WonderSip

wondersip.com

1,588,823

Klean Kanteen UK

kleankanteen.co.uk

1,702,912

CaliWoods

caliwoods.co.nz

1,937,020

theotherstraw

theotherstraw.com

2,144,172

Sand Straw

sandstraw.com

2,173,796

Wilfred Eco

wilfredeco.com.au

3,296,980

Save The Turtles

savetheturtles.ca

3,833,530

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Meaningful business connections

You never know who you will meet as a reusable straw business. This could be the start of an incredible business opportunity!

Easy to encourage "impulse buy"

In the reusable straw business, you have a much higher chance of encouraging your customers to buy on impulse - you can easily alter the price, placement, packaging, and promotional value to influence the decision of your buyer.

Unlimited income potential

With starting a reusable straw business there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.

Predictable income stream

Your businesses income stream tends to be predictable based on the number of customers you have signed up. This makes financial planning and outlooks much more seamless!

Higher likelihood of getting referrals

This business is all about referrals, which can be a a very impactful way to attract and retain customers. It's critical that you have a great referral program in place that incentivizes your customers to tell their friends about your product.

Longer Sales Process

A reusable straw business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.

Low margins

The gross margins for your reusable straw business are typically around 15%, which can make it more challenging to incur new expenses and maintain profitability.

High employee turnover

In the reusable straw business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.

Taxes

As a reusable straw business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

Niche Market

A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.

You may need to charge sales tax

If you are selling your products in various states, you may be required to charge sales tax. Although this may not impact your financials specifically, it can be a headache to create a process and procedure for this. To learn more about sales tax, check out this article