Operating a craft business can be profitable if you know how to go about it. The Artful Crafter offers information and insight to get started. According to the Entrepreneur website, selling crafts such as paintings, woodwork, glass work, jewellery and sculptures part-time, or even full-time, is growing in popularity. In order to be successful, though, it is important to plan carefully.
Beading is a popular craft and people make jewellery more than anything else according Grandma's Craft Guides. Visit a flea market and you will see that jewellery is one of the first things to go. Beaded jewellery can be made from glass, wooden or semi-precious stones and ranges from casual to more dressy pieces. A wide range of materials are available such as beading wire, leather, hemp and the more expensive gold and silver wire and findings. Other beaded crafts include ornament covers to jazz up an ordinary ornament ball, Victorian beaded lampshades, beaded bags and even French beaded flowers. Dried flower bouquets are also popular, and with the right marketing strategies can become a profitable craft.
A successful craft business begins with doing something you enjoy. If the item you are selling is tedious to make, you may get tired of it very quickly and you set yourself up for failure. Even if you enjoy it now, consider that you will be making a lot more of it if you are successful. Make sure you are ready for that as well.
When pricing your items, always go with the maximum to start. According to the Artful Crafter it is easier to lower the price than to raise it. Be sure to take costs into consideration, including materials, tools, equipment, advertising and time. Purchasing supplies wholesale can save you money, as long as they are of good quality. If they are poor quality, your crafts won't sell. You should also consider transportation costs to and from shows when pricing your items. Do some research to find out what people are willing to pay for comparable items, to make sure you can get a price that nets you a profit.
Marketing is a crucial key to a successful business. Avenues for advertising your items include local craft shows, local gift shops, publications and the Internet. Setting up at a local craft show is a good way to get some experience as well as exposure in your area. You will also see what is popular from the other crafters. Sometimes gift shops will take craft items on consignment. Grandma's Craft Guides suggests advertising in local newspapers or craft magazines. Creating a website for selling your crafts is another option that gives you a wider reach of customers. You can sell your crafts on eBay if you want to get your feet wet before you start your own website.
Keep the various seasons and upcoming holidays in mind when creating your items. That might mean making crafts geared to Easter around the Christmas holidays. Always keep records of what you've sold so you will know what is most popular and when it sells. If you have the space for storage, keep a well-stocked inventory of your crafts. Depending on the type of tools and equipment you use for your crafts, it may take some time to recoup the start-up costs. A kiln for firing ceramics is a lot more expensive than the tools you would use for making jewellery. Carefully weighing and planning for and around all aspects of your craft business idea before striking out to start it will help cut the risks and increase the chances of it being both practical and profitable.