Small Business Spotlight: Gold Standard Studio
Meet the Owners:
Res Nova Law is kicking off 2017 by celebrating local business owners in our new Small Business Spotlight series. This month, we interviewed Meg Adamson and Sara Pedrosa, two women entrepreneurs who co-own Gold Standard Studio in downtown Vancouver, Washington. Meg and Sara teamed up in 2016 to create a beautiful space where they could grow their creative and business skills, and to provide popular services for the Portland, Oregon and Vancouver, Washington metro areas.
Taking Full Control of Their Careers:
Meg—a successful independent artist and tattooer—was ready to grow her solo endeavor into a larger-scale business. Likewise, Sara—a talented aesthetician and cosmetic tattooer—was ready to take full control of her career and be her own boss. The two Portland creatives knew they’d make great business partners due to having a similar vision for their business: they both wanted more from their careers. More ability to shape and control their own brand, more creative freedom, and full control over their work environment and schedules. They also wanted to create a space where their clients of all races, religions, genders, sexual orientations, countries of origin, and abilities can feel safe, comfortable, and accepted.
Starting Your Own Business Isn't Easy, But It's Worth It:
Meg and Sara have done an incredible job starting their own business, but branching out on your own can be scary. Meg’s biggest roadblocks when it came to starting Gold Standard Studio were making sure all of the paperwork was in order. From business licensing, to liability insurance, to lease agreements, to taxes and financial bookkeeping—“making sure everything possible was covered was the biggest headache.” On top of the seemingly endless paperwork, Sara had to make the difficult decision to leave the comforts of her great job. Luckily, it’s all paid off so far and has been a very rewarding experience for both owners of Gold Standard Studio.
Always Working Toward Business Growth:
So what’s next for Gold Standard Studio? This small business has big business goals—they’re already thinking about how to grow their business and working toward moving into a bigger art space eventually.
And we’ll leave you with some business advice from these successful entrepreneurs:
Sara: “Do it (but don't quit your day job yet). I worked in the salon full time and built Gold Standard on the side. I worked a lot for months until I felt comfortable to leave the salon and just focus on Gold Standard. I truly feel if you really love what you do and believe in it, people will come. It will take time but it will happen.”
Meg: “Do the math, every little bit, and save at least 25% more than you think you need because there will be surprises. Follow your heart and don't mimic what you perceive to be success. You're going to stress cry but that's okay.”
Res Nova Law is an intellectual property and business law firm based in beautiful Portland, Oregon, and serving both Oregon and Washington. We’re your go-to lawyers for startups and small to midsize businesses in every stage of business growth. Our legal services include business formation, contract drafting, intellectual property advising and litigation, business advising and litigation, and more. We also offer outside counsel plans for businesses with ongoing legal needs. Get in touch with our experienced intellectual property and business lawyers today.