Lots of us have been spending more time at home and this could be the perfect time to start your own business. Have you ever considered turning your hobby into a side hustle or an income stream? Whether you love crocheting or graphic design, a startup craft business could be a great asset for you to create and make extra money!
Decide What You’re Making & Selling
The first thing to do for your new craft business is to figure out what you’re going to make and sell. Will people actually buy your products? Can you make an income from it? Do you have the time to dedicate to it? What range of products will you start with? Consider starting with some popular items which you think will sell well and then enhance your range after that. If you’re able to personalise items, these are often very well received. Maybe you’re a graphic designer and can easily adapt prints and posters to include the name of the recipient. These are perfect for new baby gifts, for example.
Check Out Competitors
Take a look at how other craft business owners operate. You can get a general feeling for what they sell by looking at their websites. Take a look at prices too. If you can’t compete with these prices when you take into account the materials needed to create your crafts and your time, you’re likely not going to sell much or earn a profit. Take some time to look at what other people are selling, how they’re selling it and for how much. How can you make your products stand out from the crowd and perhaps a saturated market?
Where Will You Sell?
You also need to consider where you’ll sell your items. Having your own website is all well and good and they’re fairly easy to set up. Ask yourself though, how will customers find you? You might be better concentrating on established marketplaces such as Etsy. Sites like this have an audience already and if they’re searching for items like yours, your listing will pop up in the search. You can also build a website alongside one of these selling sites as some customers will find you on Etsy or Notonthehighstreet and then try to find your website to buy direct. There are fees included for using these third party sites though, so consider that when you’re figuring out your pricing.
Consider Christmas Craft Fairs
Alongside selling online, be sure to scout out some craft fairs in the run up to Christmas. People love buying handmade and handcrafted items for their loved ones at Christmas. You will likely have to pay for your stall and have liability insurance but craft fairs can be a great place to get your name and products out there. You’ll also likely meet other amazing small craft business owners and be able to network too.
Creating a craft business can be lucrative but you need to make sure you’re receiving something in reward for your time. Running a business is hard enough with long hours when when you’re hand-making everything from scratch it can man even longer hours! Whilst you can find yourself under pressure, it can be so rewarding though. Your business baby can become a really amazing part of your life. Good luck with setting up your craft business.
