Starting a small business to sell your arts and crafts can become a reality. You don’t have spend a lot if you start small and work out of your home. Whether you paint, bead, sew, knit, work with clay, photograph or even scrapbook, business is …
Introduction
Starting a small business to sell your arts and crafts can become a reality. You don’t have spend a lot if you start small and work out of your home. Whether you paint, bead, sew, knit, work with clay, photograph or even scrapbook, business is booming for unique crafts. But you do need to have a plan if you want to succeed.
Instructions
Difficulty: Moderate
Steps
1
Step One
Choose your craft. Most artists are talented in many areas but by focusing on a targeted craft, you will have an easier time creating and marketing your wares.
2
Step Two
Create an inventory that includes all variations of your product. Get a feel for the actual time and costs that go into each piece.
3
Step Three
Set your price by determining the cost of materials and the minimum hourly rate you want to make. Adjust your price by factoring in the demand for your craft and other competing products.
4
Step Four
Write a business plan that outlines production, storage, distribution and marketing. Include sales and profit objectives so you can accurately measure your success.
5
Step Five
Market your products through arts and craft shows, on a website, at online auction sites, at gift stores or at home parties.
6
Step Six
Lower your costs by purchasing supplies wholesale. Find wholesalers by researching products online. You will need a tax ID license in order to buy from wholesalers.
7
Step Seven
Reevaluate what is working, what isn’t and how you can fine tune your business plan. Are there additional crafts you can add to your lineup? Is there a marketing avenue you haven’t considered?
Tips & Warnings
* Keep accurate records for tax savings and filing.
* Consider donating some of your crafts to charity fundraisers as a way to put your name out there.
* Keep your debt low so you do not overextend yourself.
