Can't find a boss? Try being your own

By: Kelsey Stewart

Posted: 4/29/09

For some ambitious seniors who want to run their own business, the future is filled with bright colors and artistic style despite the slumping job market and bleak financial future.

Kristen Blowers, a senior interior design student owns Riffraff, Fayetteville's newest eclectic store. Since February, the store has been successful in selling its wares. Blowers sells custom painted furniture, updated consignments, and other pieces of art that have been turned into modern masterpieces by local artisans as well as Blowers herself.

"Starting and running a successful business takes planning and sacrifice," said Renee Clay, assistant director of the Walton College career development center.

Blowers has been planning to own her own business since she was young and over the last two years, all her planning fell into place.

"Fayetteville needed a funky store like Riffraff," Blowers said. "With the great prices we offer, the store has been so successful."

The trend of students that are opening their own business is, however uncommon.

"I haven't heard of a large number of students who are planning to start a business versus going to work for an established one," Clay said.

Though Blowers worked for an interior designer in Rogers, and had planned on working for them after graduation, the thought of owning her own store overpowered the thought of working for an already established business. Besides the satisfaction of success, owning her own store also gives her a sense of security in the failing job market.

Many small business owners pour profits back into their company during its first years instead of taking a salary.

Before you "go for it", you must have investigated the feasibility of your venture and you must have planned appropriately said Clay.

Students also run into specific barriers when trying to start their own business.

The amount of money it takes to start a business varies depending on the type of business it is said Bill Fox, a business consultant for the Small Business Technology Department at the Walton College.

"If the business requires a space or a building of some kind it can cost hundreds of thousands of dollars," Fox said. "It's hard for students to get loans from banks especially if they don't have any financial history. They usually go to friends and family for seed money."

Students who plan to start their own business and fail can also learn something from their entrepreneurship endeavors.

"It's perfectly acceptable to mention a failed business attempt on applications," Clay said. "Interviewers will be keenly interested in what you learned, how you've applied what you've learned and how you are better, more successful and more confident because of the experience."

Besides owning Riffraff, Blowers is enrolled in 18 hours of classes and has started her own interior design business, Kristen Blowers Interior Design.

"I'm the type of person who likes to stay busy all the time. A workaholic if you will," Blowers said. "Why wait to start my dream? I went for it and have loved every minute of it."