I Am Considering Starting a (Craft) Business. Help Me Please!

I have to agree with one of the comments below with regard to the economy. If you'd like, take a look at www.melaleucaawards.com. This is a company that offers a proven business opportunity over the last 25 years that does extremely well even in recessions. I've been in partnership with them for 6 years now. You can even do a trial business to see if this will work for you.

Let me know if you'd like an online business overview.

M.
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I had a craft business for about 5 years, and stopped it about 3 years back. I still do some things for old clients, friends, as gifts, etc. But I honestly found it was not worth my time, for what people where willing to pay for the handmade items. I don't want to discourage you, because I don't know what you are making, and it could be something fabulous that people are willing to pay for, but I would encourage you to start small. Don't invest a lot of Money until you find out if it will be successful. Maybe go to a couple of craft shows first, even splitting a table with another crafter. I had things posted on ebay and etsy, and soon after, others began copying my ideas and posting them there also. Best of luck.

I can give you a few pointers. First off, make sure you really like what you do, sometimes turning a hobby into a business, makes it not fun to do anymore. Next, you need to have a plan. What are you going to sell, is it selling now? What are you going to charge, make a spread sheet up of the crafts, what it takes for each and what it will cost, then decide can you make it, and make a profit.

Next go to craft fairs, look around, look around, see what is selling.....find out what it cost to do a fair. This might be a good way to get started, plus you will have contact with people to find out what they are looking for and why.

Next you want to start making them. Whatever they are. Be diversified and think outside the box.....try to make a new spin on something or do something extra if you can. Try to be ahead of the time, which means you would want to start fall and Christmas here soon, depending on what you want to do.....

I always preferred doing shows, but it does take up your weekend......and if you are not prepared, it can be costly. I usually made money, sometimes more than others, so check out the shows and get information before you decide.....like how much traffic they have had in the past.......

Make sure you keep all receipts for tax purposes, you might need to get a retailers license depending on what Ohio requires.....plus you will have to pay taxes most likely......probably quarterly once you get going.

Setting time aside is always an issue, but if you want to do this, you can do it.....just takes planning and time well spent.

Good Luck and let me know what you decided......

I work in advertising and have several clients with home based businesses. I have to say, in this economy I have seen a LOT of 'craft' type HBBs fail and disappear. I don't want to discourage you- but a lot of people are still just not buying 'extra' stuff as much as they used to.

The best advice I can give you or anyone starting an HBB are these things:

1)Do not expect to make a profit your first month. If you can't budget to keep your business afloat without incoming sales for 3 months, wait and save up some money first.

2) With that in mind, make sure you have an actual business plan and not just a vague idea of what you want to do. Cost out how much you will spend on supplies to make enough of your craft to have stock to sell. Cost out how much your time is worth per hour and how many hours you will put into it. If you are planning to sell at craft fairs, etc. choose the ones you think are the best market for you and cost out how much the booth fee is ( try splitting the cost by sharing with another crafter!) gas, a motel to stay at, etc. All of these things should be set up, with money put aside before you start and even before you advertise.

3) Don't advertise until you have some sales under your belt, know that you are at least staying within your financial plan, and can allocate money to advertising. If all you can spend is $50 per month on an ad somewhere, have enough for 6 months and spend that, but no more until you are making back at least that much off the ad.

Good luck- I don't want to be a downer, just practical!!

I'm an insurance agent so can't help with the product part. But when you are ready to advertise and get your name out, go to www.Meetup.com. Its a free website that allows you to join "business networking" groups in your area (type in your zip code) that have other business owners that can help you get clients and run your business. Good luck to you!

Check out your local college or community college - some of them have small business assistance resources. Also, check out SCORE - http://www.score.org/index.html - free small business counseling. They have offices everywhere - the counselors are retired executives. Good luck!

Be careful if you are selling products for children. The laws have gotten VERY strict in the past year about lead testing and whatnot and it isn't cheap.

Are you in the Akron area? If so, you might want to talk to the people at Mocha Maiden. It's a place downtown, and they consign jewelry and stuff that people have made. Also, I don't know if she does it, but A Woman's Whimsy in Peninsula. She makes jewelry and has a shop. You might ask her if she'll consign your stuff. Oh, I know that Don Drumm Studios sell other people's art, so maybe they'll consign your stuff, and you won't have the initial expense of a shop on top of starting out. Good luck!

If you mean selling handmade crafts, I don't think this is a good economy for that. I know of other people who tried selling beautiful, quality handcrafted jewelry, woven rugs, etc. and it was a complete failure after 3 years, even with business experience, promos, and professional websites.