Do you have a hobby making something for friends and family members at home? A great way to start a work-from-home business is to sell homemade goods just like you’re making now. You can turn your hobby into a profitable business.
This is a great idea for craft makers because you’ve already overcome the first major hurdle: production. Your workshop is already set up and you have the skills to produce what you’re selling. There are just a few other challenges to overcome and then you’re ready to launch your work-from-home business.
Are Your Craft Products Profitable?
What kind of crafts can you sell from home? You can make greeting cards, jewelry, clothing, accessories, household goods like candles, artwork, food products, quilts, scrapbooks, natural health products, and much more.
Your first consideration is to determine whether you can earn money selling what you make. You can do this by creating a business plan and performing a cost benefit analysis. How much does it cost to make your products? How much is it to ship them? Answering these questions will give you an idea of how much to charge.
Assessing Demand for Your Products
You know how much it costs to make your products and how much you need to charge in order to make a profit. The next step is to determine if there’s market demand. Are people buying products like yours? Look at craft shows or online marketplaces like Etsy and Amazon to see what people are buying. What prices do you see sellers charging there and is this comparable with what youíll charge?
Setting Your Products Apart
A key part of selling products online is creating a distinct brand image. If youíve already looked at similar products, you know what sets yours apart. Try to determine what makes your product unique. Why should people buy from you instead of the competition? Think back on feedback youíve gotten from people whoíve received your product. What did they love about it?
List your strengths and the unique qualities that set your goods apart, and then create a brand image that emphasizes this uniqueness.
Getting Your Goods to Market
Next, decide how you will get your products to your customers. You can sell from your home or through local businesses and crafts markets or start your own store. Where will you sell online? Itís a good idea to create your own website even if you plan to sell on Etsy or other sites. Learn some basic marketing tactics to drive traffic to your website and make use of social media to start building a following online.
Taking Your Craft Business to the Next Level
Now you’re ready to get started. But at this point you should also think about how you might scale and grow in the future. Perhaps you can find a cheaper supplier of raw materials. You may eventually hire people to work for you, either making your goods or helping you sell them. There are many options for growing a work-from-home craft business.
Do you want to learn more about starting a work-from-home business?
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