{"id":47868,"date":"2023-10-20T15:56:12","date_gmt":"2023-10-20T15:56:12","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/how-this-high-end-bridal-retailer-funded-her-dream-and-turned-it-into-a-reality-startupsmart\/"},"modified":"2023-10-20T15:56:12","modified_gmt":"2023-10-20T15:56:12","slug":"how-this-high-end-bridal-retailer-funded-her-dream-and-turned-it-into-a-reality-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/how-this-high-end-bridal-retailer-funded-her-dream-and-turned-it-into-a-reality-startupsmart\/","title":{"rendered":"How this high-end bridal retailer funded her dream and turned it into a reality – StartupSmart"},"content":{"rendered":"
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Cupcake Central founder, Sheryl Thai <\/figcaption><\/figure>\n<\/p><\/div>\n

When Sheryl Thai launched online store, Cupcake Central, she was working from her home kitchen with just $2000 in capital.<\/span><\/p>\n

Thai always had an \u201cincredible passion for cupcakes\u201d and was known for baking her creations for friends and family any chance she got. After losing her IT job during the economic downturn of 2009, she found herself presented with a chance to fulfill her dream.<\/span><\/p>\n

\u201cI realised that [making cupcakes] was what made me happy. Soon enough, that obsession became overwhelming to the point that I just had to start something,\u201d she says.<\/span><\/p>\n

Thus, she began cupcakecentral.com.au, a modest online business that quickly grew beyond the confines of her home kitchen to a bricks-and-mortar store in 2010, which Thai opened with business partner Thin Neu.<\/span><\/p>\n

The business now has five stores across Victoria. Thai has since written a self-published cookbook, won Entrepreneur of the Year Award 2013 at the Australian StartUp Awards and was a finalist for the 2016 Telstra Business Women\u2019s Award in the Entrepreneur category.<\/span><\/p>\n

Teething problems<\/b><\/h2>\n

Early in her journey, Thai found it difficult to secure finance, and the team had to find ways to work smarter with the money they had.<\/span><\/p>\n

\u201cYou need to possess the ability to paint a picture and dream of how your business will grow,\u201d she says.<\/span><\/p>\n

\u201cThis is why pitching is so important, the belief that you have in your business and yourself is one of the key selling points and you need to be able to get that across so people will buy into your dream and provide you financing.\u201d<\/span><\/p>\n

\u201cWhen I started baking cupcakes from home, I realised that I should be seeking advice from those who had<\/span> actual<\/span><\/i> experience. If I had listened to the person that mentioned they heard it was extremely hard to get a home kitchen registered, and that it would cost tens of thousands, I wouldn\u2019t be here today,\u201d says Thai.<\/span><\/p>\n

\u201cI called up the local council and it cost me less than $500 in modifications to my kitchen to get it approved.\u201d<\/span><\/p>\n

ANZ\u2019s Business Ready tool can help you achieve your business goals with easy-to-use tools that set your business up for success.<\/span><\/i><\/p>\n

Hiring the first employee<\/b><\/h2>\n

\u201cI remember a time when it was just myself, my business partner and our two brothers working in our first store,\u201d says Thai.<\/span><\/p>\n

\u201cWhen it came to hiring our first employee, it was difficult because it meant all of our profit for that week was going into wages.<\/span><\/p>\n

\u201cWe thought we could each pick up a bit more work to cover having to hire, but in reality, if we didn\u2019t invest in this new employee we knew we would forever be stuck in the owner-operator mentality.\u201d<\/span><\/p>\n

Now Cupcake Central has more than 75 employees.  <\/span><\/p>\n

Helping her peers<\/b><\/h2>\n

After being in business for almost seven years, Thai says there comes a point when you need to start living beyond your business. Although, she acknowledges, this can be hard when you\u2019re feeling overworked in the first few years of business.<\/span><\/p>\n

That\u2019s why early on in her journey, Thai realised she wanted to support like-minded female entrepreneurs – in 2011, she co-founded the online platform and organisation, League of Extraordinary Women, which connects and supports female entrepreneurs to fulfil their ambitions.  <\/span><\/p>\n

\u201cAside from stating the obvious traits such as passion, determination and perseverance, I\u2019m going to say that a huge part of achieving what you want out of life is imagination and the ability to dream.\u201d<\/span><\/p>\n

Written by: Thea Christie<\/p>\n

This material does not take into account your personal and financial needs and\/or circumstances, and you should seek appropriate advice (which may include property, legal, financial and\/or taxation advice) before making any decisions or acting on any of the information contained in this material. To the extent permitted by law, all members of the ANZ group of companies disclaim liability or responsibility to any person for any direct or indirect loss or damage that may result from relying on the information contained or this site, or any act, omission or error, by any person in relation to the material contained on this site.<\/span><\/i>
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