Selling Crafts - Are You Ready to Start Your Own Home Craft Business?
The idea of selling crafts through your own home craft business can be quite compelling
for anyone with an independent spirit and a creative mind. The creative outlet provided by
a home craft business combined with the autonomy of self employment can be rewarding.
If you dream of selling crafts and building a business based on your creative talents,
you are not alone. The Craft Organization Development Association (CODA) reports that
there are 127,000 professional craft artists in the United States, and the average gross
annual revenues for craft businesses reaches $78,000 in the United States (CODA).
If you are thinking about joining the ranks of these professional craft artists,
answering these questions for yourself will to help determine if you are ready to start
Do You Have a Unique Product or Concept?
If you haven't developed your own distinctive style, you are not ready to launch your
home craft business. This opinion is one of the best bits of advice that I received early
in the development of my own business. It can be hard to hear that advice if you are not
there yet, but establishing your own creative voice is crucial to building a successful
business selling crafts.
Whether you are selling hand knit sweaters, creating craft kits for sale or designing
and selling your own patterns, it is important to establish your own creative identity
separate from those professional crafters that you admire. Take an honest look at your
work. Is it truly your own, or is it derivative of your favorite artist? You must build
your business around your own unique style.
If you haven't established your own creative voice, keep experimenting. Take an art
class, learn new techniques or try working with materials that are not typically used in
your main medium. Your creative identity plays into so many business decisions, it's
definitely worth the effort to establish your own style.
Does Your Concept Have Good Potential for Profit?
Will you be able to sell your crafts at a price that will allow for a fair profit? Some
crafts have a greater perceived value than others even though the time and cost of
materials to produce them may be similar.
I recently met an artist who was selling an intricate beaded bracelet for $40.00. When
she told me that it took her eight hours to make the bracelet, I realized that she could
not possibly be making a fair profit on her beadwork. $40.00 works out to only $5.00 per
hour for an eight hour project, and that doesn't even take into account the cost of
materials, selling fees or the time she spent promoting her work.
Although you may love the time you spend creating your products, your time is not free
if you are in business. Ensure that you have a craft business concept that will allow you
to price your work in a way that covers your time and expenses and allows for a fair
profit, or you will seriously limit the growth of your business.