UPDATES*WIPS*THOUGHTS

Showing posts with label research. Show all posts
Showing posts with label research. Show all posts

Wednesday, October 23, 2019

So You Want To Have A Craft Business

 I am currently in the middle of my busiest show schedule of the year, but thought I would take a few minutes to address some questions people have been asking me over the past few months.

I am constantly getting asked if I am selling enough to make a living.  The answer is yes, and no.  the reality is if you are just starting out don't quit your day job.  It takes a while to find your niche and to be able to start making a realistic income.  Don't expect to just jump in with both feet and start making huge sums of money.  You may be doing what you love, but if you don't treat it like a true job you will be in big trouble when its time to pay bills.

I have had no less than 10 people ask where I get my patterns because they have a show coming up and that item would sell so well.  Hello, do your own research, not to mention most patterns are my own design, or redesign of a paid pattern I purchased.  I am not going to give you my bread and butter patterns.  You can sit down and do the hours of work and research I did.  No one said this was going to be an easy get rich quick business.

I get asked where I sell often.  That I don't have a problem sharing.  Most shows are booked months in advance.  You may get lucky and get in at the last minute, but chances are, at least for the better shows, you will end up on a wait list.  And be ready to fill out an application.  Don't get discouraged if you are turned down.  The show may already have their limit of people doing your type of craft.  But if  you do get in, you will end up getting first chance at a booth at the next years show. 

How did you decided what to sell?  This is a question I am asked often.  I started with what I liked to create and went from there.  There are a couple of good shows I don't do, because the items that sell well are items I hate to make.  And lets face it, if you hate making it, you are not going to enjoy your crafting, you will get burned out, and you will end up procrastinating.  And of course you can't be afraid to evolve, and change things up.  Also keep in mind that certain things sell better at different shows.  That is why I have a wide variety of merchandise in all price points. 

Other things to keep in mind.  Don't undersell yourself.  Just because you only have $5 worth of materials in that item, doesn't mean you should sell it for $6.  You want to be able to support yourself, and a one dollar profit margin is not going to do it.  You need to take into account the cost of materials, the time it takes you make it, and how much your overhead costs are (rent, utilities, insurance, etc).  And if you decide to sell the hat at $25  and can't keep up with the orders, raise your price.  You are worth it.

So these are just a few questions I get asked,  I may try to go more in depth on some of them at a later date.  Until then, I have a busy show schedule I need to prepare for.