Learn how to start a craft business of your own. Whether it's on Etsy, or for a local boutique or craft fair, you'll love taking control of your own business and becoming a DIY Craft entrepreneur! But are you ready to start a craft business? Answer the questions below to find out.
You are Reading Chapter 3 of our DIY Crafts Guide: How to Sell What You Make.
Are You Ready To Start A Craft Business?
You've decided what products you want to make, what crafts you want to sell. But you still have to get your business in order. Are you ready? Are you certain all this time and effort will be worth it to you? It's one thing to make what you love, but to start selling what you love adds a whole other level and skill set. You don't have to be the world's greatest business person, but you do have to know a little bit about managing one. Our first order of business is, will this be part time or full time?
Here are some things to consider before you quit your day job to become a crafter:
Part-time Craft Business Benefits
- When you have a part-time business, you can have more time for other things.
- You can still hold a full-time job while building your own business.
- Extra money coming in is always a good thing!
- You won't have time for big bulk orders, these could become overwhelming
Full-time Craft Business Benefits
- You have more freedom in your life. This means you don’t have to sit in traffic for hours a day. You don’t have to wear a specific type of dress code, and you have more of a personal life.
- You are your own boss.
- There is no ceiling to how much money you can make. You decide what your paycheck is. The more you work, the more you earn.
- You can get tax advantages for having a home business.
- You have a creative outlet combined with a money making business.
- You can work from home and take off whenever you need to. This is great if you have kids.
But don't get me wrong. Starting your own business is not an easy pass to freedom! You still have to work hard and put in a lot of hours. You might have more flexibility in your schedule, but you also may find you're putting in as many hours as you were back “at the office” if not more! The difference is this time you are doing something you truly love. And time spent doing something you love can hardly count as work.
Making the craft is only a small part of your craft business though. You're also going to have to be a business manager. You have to manage your finances, think about your internet marketing and branding, pay taxes, deal with customers, and even run an online store or boutique. Do you think you can handle all this? Are you ready to take the reigns on your life and your income?
If not – don't quit your day job! Running your own business is not for everyone! Being organized helps, if you're not organized, maybe talk to a friend or someone who you trust that could help you get everything straight before you begin.
Here are some more questions to consider when starting a craft business. Even if this is a small gig, you'll want to know the answers.
Craft Business Questions – Must Answer Before You Go On!
- What is your startup cost? – The cost of materials you'll need before you start making money?
- Where will you make your craft?
- Where will you sell your craft?
- Who is your audience?
- What is your craft made of? Where will you get the supplies
- How are you going to manage your money?
- How much money do you need to make to come out ahead?
- Will you be shipping your crafts? How would you package them? How far will you ship?
- Why would people buy this?
- Who would buy this? Who is your audience/
- What is your competition like? How are you going to stand out?
- Is your market already saturated? What makes your craft unique?
Take some time to answer all of the questions above. If you don't have an answer to one of these questions then you're not ready yet! Consider the advice above before starting your craft business, and you'll be ready to make lots of money doing what you love in no time. If you are doubt on how to start with marketing, there is also Digital Marketing Agency that can work on the marketing aspect of your business.