While the Bank of England interest rates fell today, from 4.25% to 4%, I hope the public’s interest with really good quality, sustainable homewares still persist.
Sadly, I learnt yesterday that the ultimate online ethical/ sustainable homewares/ fashion business, Made Trade went out of business. Does that mean the market for sustainable goods is now in decline? I do not know…
With the increasing cost of living, the challenging employment market, globally, and the interest rates for people’s mortgages are no longer rock bottom cheap, I’m guessing there is less appetite for slightly more pricey high quality products than there once was, maybe five years ago.
If I can feasibly get Sustainable Café Ltd off the ground; have various partners who want to get involved with this project and have an exceptional customer base, I’m thinking the products will sell themselves.
We will have personal relationships with our partners and a relatively narrow moat of products and in line with our family ethos, we will have excellent customer service for our customers too.
This could be a big ask for one person to do, me, but I am passionate about this project and will continue to work day and night to get prospective partners on board, continue to update our social media and keep on saving for the capital required to put this together to have a grand opening in April next year (2026).
As the Bank of England interest rates continue to fall, once they get to an affordable level, assuming Sustainable Café is successful in our first year, I will ask my team whether they think it would be feasible to take the dive, take a loan and expand our ranges from the simple candles, rugs and pillows and look at options of new pages, new ranges and new hope.
The calamity for Made for Trade though, in my estimation, might have been how they expanded far too quickly and I guess the orders didn’t keep up with their expansion rate. I don’t know, but I certainly wish the founders well.
With Sustainable Café, I will be careful to keep the balance of income nicely set with the rate of expansion.
I just hope on hope that our reputation far exceeds that of others and that we will be able to go from strength to strength and sell our range of products to remain solvent.
The good news I have for today though, is how I have just been offered a Trustee position for a homeless charity of which I am passionate and will support as much as I possibly can.
With warmest wishes,
Mark Banham
Founder and Director of Sustainable Café Ltd
