By Ayanna Kirton, Staff ReporterCHANTAL McDonald has combined a knack for business and her love for all things stylish to create her own company at the ripe old age of 21.
"Vogue Intentions", an accessories store located in Manor Centre in St. Andrew, specialising in fashion jewellery, handbags, and belts is McDonald's first foray into business on her own but the entrepreneur says years of hands on experience working with her family's business have prepared her for this venture. "I learned a lot about how to run a business from working in my family's gift shop," says McDonald who opted out of majoring in business administration to study in psychology, which she is currently pursuing locally through Nova South Eastern University.
THE YOUNG AND TRENDY
Appealing primarily to the young and trendy, Vogue Intentions has entered a market that appears to be attracting a lot of players. This is the product of an international trend, which has seen a resurgence in demand for accessories by fashion conscious consumers. However, McDonald says because the average local consumer has little disposable income, even the lowest priced accessories are sometimes out of their reach, a reality which has the potential to impact negatively on the success of the business.
With start up costs for the business amounting to just under $1 million, $300,000 of which were financed by a commercial bank loan, McDonald says she reduced a majority of the expenses associated with setting up the store's the physical infrastructure by doing it herself. "That helped to cut costs considerably," she says, recalling the numerous hours she spent, sometimes until late at night with the help of her fiancé getting the store ready for its opening in November 2003. Now she couldn't be happier with the results. "It was very fulfilling to see everything take shape," says McDonald, who is also enjoying the freedom of being her own boss and all the aspects of running a business. And though not guaranteed a fixed income at the end of every month, McDonald says the benefits of owning a business far outweigh the disadvantages.
"I love interacting with customers, I have more time for myself because the hours are flexible and I enjoy what I sell."
