Hello! I'm Amy Midkiff, and I'm the owner of DIY PAK. After two years in business, I am making the difficult decision to sell DIY PAK at the end of the year. When you say that you're selling a business you've built yourself, a lot of people's first instincts are to console you. Endings are failures, we're usually taught. But I don't see the selling of DIY PAK as anything other than a wild success. I do feel like I owe my customers an explanation as to why this is happening so suddenly though, so I'm going to try to do just that in this blog article.
DIY PAK v 1.0 was a one-person job. DIY PAK v 2.0 was not.
This was the most straightforward and insurmountable problem I had. I started DIY PAK in my basement and only selling small quantities of stock. It was easy money and really fun to be able to pop downstairs and fill a dozen orders a day that I could stack on my porch. When I relocated and planned to take on DIY Cosmetics' stock and business model as well, everything got bigger and more complex. Selling both small batch and wholesale stock turns out to be a time-consuming and challenging business model to run - there is a reason why cosmetic containers is not a saturated market. It became clear to me that keeping the expanded DIY PAK running was a more than full-time job that did not leave a lot of time left over for the innovation or growth I was most excited about working on. It makes more sense to keep DIY PAK and DIY Cosmetics split up until such a time comes where a group of people is interested in taking over the market. There is definitely money to be made in this field.
DIY PAK deserves the best person for the job.
I spent a lot of time around merchants when I was getting DIY PAK set up in Tucson, and I realized something humbling: there are people that really live for this type of work. I have family members who are in similar businesses, and their natural savvy and fascination with inventory, shipping, and other processes left me awestruck. DIY PAK's customers deserve to work with an equally passionate business owner.
I need to put my focus on where I excel.
Most of you know how many hats a small business owner wears, and building DIY PAK was an amazing opportunity for me to learn exactly what I was passionate at and thrived at. While I love being able to bag compacts and binge episodes of Planet Earth as much as the next guy, I found myself longing to spend more of my time on social media, networking and customer communication. I had originally wanted to use DIY PAK as a vehicle for supporting business owners, and had elaborate plans to have a robust resource guide and networking forum for you business owners to connect, share and grow together. What eventually occurred to me is that I didn't need to hold onto the DIY PAK side of things in order to launch a project I'm truly passionate about and excel at. So for those of you wondering why I don't go back to running just DIY PAK and just selling small batch, it's because I discovered something I'm far more passionate about. If you want to know more, check out my new website, Compassionate Capitalism.
Now is the best time to do this, because there's never an ideal time to do this.
I spent a lot of time thinking about when to close DIY PAK. Due to a number of factors including taxes, people's schedules and the natural cycle of our business model, it ended up making the most sense to close at the end of this year. This gives me time to sell and let someone else get set up before sales typically start to take off in the second quarter. I know that no matter what I do, I'm throwing some amount of wrenches into some of your lives and I will do what I can to make this as smooth for everyone as possible.
Getting to know and help you was the best part of the job and what sparked my real passion.
Just a few months after I launched DIY PAK, I knew that what I was most interested in was helping other small business owners. I saw how hard the job was, how unforgiving customers could be about things outside your control. I saw the innovation, the drive, the passion and the excitement you guys had as your businesses grew and I knew I wanted to be a part of this creative process. DIY PAK was a great way to get exposed to that side of things, and it created a drive for me to get even further involved. Thank you so much for being my teachers, my friends, my social media entertainment and my support over the past two years. I hope I can work with as many of you as possible on my new Compassionate Capitalism project. Either way, I'll see you all on Instagram! Thank you again for two life-changing years.