Can a Business Be Made Out of My Crafts Projects?
Many crafters dream of being able to make a living — or at least make some extra spending money — from their favorite hobbies. After all, what could be better than being paid to do what you love? But making a business out of a hobby like crafting can be difficult. Many markets are flooded with would-be entrepreneurs, and starting a business is very different than just crafting for fun. Before you decide to quit your day job, here are some questions to ask yourself:1. Is there a market for what I sell? If you make handmade organic candles, you could likely find many people who would be willing to pay for your wares. But if you only make handmade organic candles in the shape of body parts that smell like earwax or other bodily secretions. your market may be quite limited. Do an online search to see if there is anything like your particular creation online. If you find other vendors, that’s actually a good sign; it means there are enough people out there to support at least one other business. If no one is selling the same thing you are, you may want to take another look at your business to see if you’ve narrowed things down a bit too much.2. Do I offer something slightly different? Let’s face it; the market is pretty saturated for fuzzy scarves knit from eyelash yarn; there’s a vendor at pretty much every craft faire I’ve been to in the past three years. But if you can take a slightly different spin on what “everyone else” is doing, you may be able to make a niche for yourself. For instance, dog scarves knit from eyelash yarn!3. Can the market support the prices I’ll need to charge? The supplies you purchase to make your hand goods are only part of the expenses you’ll incur; there’s online fees if you sell through a site like eBay or Etsy, business fees, taxes, and more. Many crafty business owners will tell you that it’s near impossible to get paid what your time is really worth. Just because you spent 20 hours building a dollhouse doesn’t mean someone is going to pay $500 for it. You may never make $50 an hour, but if you build up a demand, or you’re crafting for fun or in what would otherwise be wasted time (while your family is watching TV, for instance), you may be able to make it worth your while.4. Am I willing to do what it takes to make it? Crafting as a business is much different than crafting whenever you feel like it. In order to sell online, you will have to upgrade your technical skills. And selling via craft faires means a lot of traveling and long days manning your booth or table. Are you willing to put in the hard work, even when making those tiny birds from dried pinto beans is no longer fun, but you have an order to fill?5. Can I think of creative ways to make money? Selling kits, teaching online or in-person classes, and writing books and magazine articles are all ways to bring in additional income around your preferred hobby. Do you have other skills you can leverage to help pay the bills?
