It is fun and exhilarating to be able to create something on our own from scratch. It is a lot nicer when there are people out there that appreciate the art we create and are willing to pay for it.
Are you an imaginative thinker and like to make the creations you think of into a reality?
Are you someone with a hard work ethic and are dedicated to every project you start?
Is crafting something you do on the side as a hobby?
Then the crafting business would be a wonderful option for you no matter what type of skills you have. There are people that are living off of doing the things they love, and you should too.
[photo credit: Israel_photo_gallery]
How Big Is The Crafting Business Industry?
Crafting is a skill that never dies out and people are always looking for unique products that they cannot normally find in stores. There are also a variety of branches in the crafting business (pottery, sewing, glasswork, textile, or painting).
It is a $5 billion dollar industry with well over 20,000 businesses in operation. The growth has been steadily increasing due to demand and the need is projected to increase another two percent from 2014 through 2024.
Why Starting A Crafting Business Now Is A Good Idea
The crafting business is a great industry to get into now because it is a lot easier to get exposure with the internet. People are always on the web and you will find that it is much easier to gain a client base online through the web than directly. There are even websites out there, like Etsy, that are specifically made for crafters and people who want to buy from them. You will be able to stay in the comfort of your own home, work whenever and however much you want, and you will get to spend more time with your loved ones.
Crafting Business Facts
Crafting Business Startup Costs
As little as $50 to begin. Startup costs will range, but this business is easier to get into in the sense it can be done very cheaply, especially if you have the equipment already.
How Much Do Crafting Businesses Make
The average crafter can make $30,000 a year and as much as $80,000 a year or more. According to The CraftsReport, there is even a difference in income if you choose to work for someone or be self-employed. Those who have an employer normally make more (about twice as much) in comparison to those who do not.
How Much Do Crafters Charge?
When you are thinking about what you should charge your clients you should take into consideration how long it took you to make a certain item and what the materials cost you. If you can only make ten products each day and you spent eight dollars on materials, then that it $80 worth in expense for you. If you sell each for $12 then you would have made $40 of profit for the day. Is that worth it for you?
- 10 products (made a day) x $5 (in materials) = $50
- Sell each product for $15 = $100 profit
What Do I Need to Start a Crafting Business?
You will need your crafting supplies with you, shipping and packaging supplies, marketing materials, and a PC.
Can I Start From Home?: Yes
Average Startup Cost: $50 – $5,000
How Many People Work In The Industry (US): 500,000
Average Earnings: $30,000 – $80,000 a year
What Skills Are Required?: You should have crafting skills. If you would like to hone what you already know or if you would like to learn how, you can go to school. There are a lot of schools, especially community classes that offer the course.
How Do Crafters Find Customers?: You will have most of your customers from direct referrals, online and likely direct customers who physically order from you (if you put the option there). Most will likely be moms or female students so you want to make sure you appeal to an audience you want to attract.
Detailed Startup Costs
Crafting Supplies: $500
Packaging and Shipping: $300
Marketing Material: $200
Crafting Business Ideas
Your business should not only be about getting the best possible financing from a bank or other lender. You want to build ideas that will pave the road to your overall and continuing success. You will first want to pick a product line and decide what you wish to sell. Many people often make the mistake of starting with too many items; you should start with one or two. It should also be something you are best at (like quilting, sewing). After you pick a name, the venue you choose to sell your products at will be crucial. When you list your products online, they should be your best work. If you are not sure what products you want to make or want to feel inspired, you can browse through other sellers or look for ideas from sites like Pinterest.
Variety of Crafts
[photo credit: cosmo_71]
[photo credit: Diana Robinson]
[photo credit: Dana]
Offer unique products
[photo credit: Halimi Abdullah]
[photo credit: Pedro Ribeiro Simoes]
[photo credit: cosmo_71]
Crafting Business Names
Craft Angels Hot Hand Crafts
Kiddy Krafts Greenlight Creations
Dreamy Designs Blue Ribbon Crafters
Curly Q’s Creations All Tied Up Craftin’
Buttons and Bows Anything Goes Crafts
The Scrap Shop Craftastic
Cindy’s Craft n’ Creations Two Can Craft
Suzy Q’s Creations Metal Edge Craft
Junk Drawer Artisan The Kraft Lady