Occasionally I receive emails asking, "How do I write/publish a book" and "How do I start a craft business." Over the next few weeks/months I will offer suggestions and advice on how to do both--but not at the same time. Because the 2009 craft season will swing into full gear very soon (and in some areas it has started already or has never stopped), I would like to help those interested in a craft business first. Though I'm an avid blog reader, this is my first attempt at blogging and I'm not certain how I want it to look and what features are available to me to enhance my page. This will be a work in progress! And so we begin.
First, of course, you must choose your "line." What are you planning on creating for craft fairs, festivals, farmers markets, etc.? I learned early on that you need a fairly large inventory to participate in decent events. Decent events will be discussed later. (Not all events are created equal.)
Next, if you are planning on actually making money, you need to work your little fingers to the bone to prepare a sufficient quantity of items to sell to actually pay the event fee and to cover the supplies you purchased and, hopefully, make a little profit. So, before you purchase exhibit items or book an event, start creating. If you work full time, this can be challenging! After you purchase supplies to make your first item, having hopefully purchased everything on sale, time yourself to see how long it takes to make the item. If it takes all day or evening to make one item, you might be creating more of a fine art piece usually exhibited at different events than the craft events (usually--but sometimes they are combined).
Next, factor in what your supplies cost and try to come up with a reasonable sales price. I say "reasonable" because craft business failures often result from overpricing items. Though you put your blood, sweat and tears into your beloved crafts, your customers generally want a bargain. Crafts are priced lower than fine art items for the most part and people who shop at craft events are looking for clever items, but at a comfortable price.
So before you do another thing in creating your business, select your craft wisely. (It’s a good idea to visit events and see what’s out there.) If possible, create more than one type of item to make and sell. I currently sell a variety of knitted items (baby hats, baby buntings, adult hats and scarves, shrugs, silk flower and candle arrangements, greeting cards, placemats with matching napkins and rings, and I've started decorative boxes and gift bags.) If you stick to one craft item you can still do a great business, but you will notice some people simply walk right by your exhibit without stopping to look at your items. If you have a display with many different items (and prices) they will stop long enough to look and that's generally all you need to make a sale. I started with only knitted items and quickly added other items and noticed the difference in customer traffic immediately.
Wrapping up this first lesson, pick your craft item(s) and get started. Keep track of your inventory, your time, and your expenses. The next lesson will be how to set up your business and what you need for your display. This will be based on the fact that you have created dozens of lovely things to sell at your first event. Get busy!
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