How to Start a Craft Business

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Welcome to the Craft Business Lens!

If you're interested in turning your crafting passion into a full- or part-time craft business, then you've come to the right lens! On the "How to Start a Craft Business" lens, I'll be sharing my favorite resources for starting and running a successful craft business.

So check back often, and good luck in starting your own successful craft business!

Interested in starting your own craft business? Then check out:

How to Start Your Own Craft Business

Two Main Types of Craft Businesses

Are you a wholesaler or a retailer?

When you hear "Craft Business," what do you think of? Is it selling your handmade jewelry or candles? How about making perfume or pressed flower crafts? Maybe you were thinking of making baby quilts? Or, perhaps you have another creative idea, such as knitting, crocheting, scrapbooking, or some other type of craft.

In reality, there are two main types of craft businesses - wholesale or retail. As a wholesaler, you are creating your crafts and selling them to a retailer that will sell them to the ultimate customer. This would apply to gift shops and consignment stores. As a retailer, you will be selling your crafts directly to the customer, via your own craft store, craft fairs, consignment shops, home parties, a web site, or online auction sites (such as eBay).

Want to start your own wholesale or retail craft business? Then check out...
"How to Start Your Own Craft Business."

A Wholesale Craft Business

The advantage of a wholesale craft business is that you can focus on creating your crafts and honing your profit margins. You will be creating a higher volume of a few crafts, so you will be able to easily determine your product costs, and will also be able to quickly work out how much you need to charge retailers in order to make a tidy profit. In addition, you will be focusing all of your marketing efforts on shop owners, which will cost you less than if you have to attract the ultimate customers.

The downside to a wholesale craft business is that you will need to convince shop owners that your crafts are worth shelf space. And in the beginning, your crafts will not get premier placement in their shops because they are untested. In addition, your profit margins are lower since the shop owner must make a profit for carrying your crafts. And finally, in most cases, you will not be paid immediately for your crafts by the shop owner, and collecting your money can be a nightmare. Choose your shops carefully!

Want to start your own full- or part-time craft business? Then check out...
"How to Start Your Own Craft Business."

A Retail Craft Business

On the retail side, the potential for profit is much greater, and you can usually expand your inventory of potential craft products so you have a wider range of available products. You also get the thrill of being out in front of the customer, with the immediate gratification of a sale. Since you're not paying for a retailers mark-up, your profits are higher.

The downside for retail crafts can be many. First off, you need to do all of the work in attracting new customers, whether it be visitors to your craft shop, or attendees at a craft show. You must always be looking for unique ways to stand out from the crowd. In addition, you must always be aware of the trends and fads in your market so your crafts match the needs of the buying public. And finally, many retail craft business owners tend to try and do everything themselves, instead of focusing on what will grow the business and make more money in the long run.

Want to start your own full- or part-time craft business? Then check out...
"How to Start Your Own Craft Business."

The Right Craft Business for You

I'm not trying to discourage you from either a wholesale or retail craft business. In fact, it's a good idea to work on getting your crafts sold through both types of methods. Having a steady income from craft stores can help smooth out your revenue over just relying on weekend craft fairs.

But, you must be aware that with any business endeavor, you will have to work hard to make it a success. There is a big difference between making a couple of items for a local craft fair and creating a full-time income from your crafts. It will be a lot of hard work, but if you do it right, you will also have a lot of fun with your new craft business.

Want to start your own full- or part-time craft business? Then check out...
"How to Start Your Own Craft Business."

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How to Start a Craft Business

Welcome to the Craft Business Lens!

Two Main Types of Craft Businesses

Are you a wholesaler or a retailer?

A Wholesale Craft Business

A Retail Craft Business

The Right Craft Business for You

Craft Business Blog

Craft Business News

Craft business news from around the world

Craft Business Resource List

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