By Deep Patel:


I interviewed Wade1 Jya, the owner of the Second Life business LOLO Pet Shop.
 
1.) How does using Second Life as the platform for your business help?
 
WADE1 Jya: The platform is very useful for me as a designer, allowing me to develop
and market ideas at close to zero cost.  I love exploring the blank canvas of open
creativity offered here.
 
2.) How do you record the sales you make on pets and animals?
 
WADE1 Jya: I have been recording the sales i make of pets and animals as a daily total.
 
3.) How often do you prepare financial statements to see where your business stands
financially?
 
WADE1 Jya: At the end of each month I do a monthly total to see how well i am doing on
a month to month basis.
 
4.) What are the methods of payment that you allow? Can customers of the LOLO Pet
Shop buy on credit?
 
WADE1 Jya: Yes, customers can pay on credit, through the site Xstreetsl.com I use.
Currently, by far the majority of my customers purchase with L$ inworld.
 
5.) What are the costs/expenses associated with making and selling virtual animals on
Second Life?
 
WADE1 Jya: Costs are very low.  The only major cost is the cost of renting the server
space the island simulation runs on from LL.  But individual designs cost mere pennies to
develop, aside from labor hours.... i do the entire design process myself, from the
ground up so to speak, so i never have to buy components from others, as some my
do......  this is a great cost savings to me.
 
6.) Also, do the costs/expenses outweigh sales revenue? Or, does the sales revenue
outweigh the costs/expenses?
 
WADE1 Jya: At this point in the game....  my sales revenue outweighs the
costs/expenses.
 
7.) Would you like to share some links, pictures that I can post on my Accounting class's
homepage? This would be a way of me saying thanks for you doing this interview.
 
WADE1 Jya: Certainly, there are photos of the majority of my products here.....
http://xstreetsl.com/modules.php?name=Marketplace&MerchantID=33113
 
WADE1 Jya: There are more photos on my blog here:  http://thelolo.vox.com/
 
WADE1 Jya: you can also link to this , The Official LOLO Website  :D
http://lolopet.com/  I'm happy if you put any of those links up.... or use any photos you
find there freely.