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HOME BASED CRAFT BUSINESS
Starting your own home based craft business.
Home Based Craft Business
By William T. Lasley, © 2006-2008, All rights reserved.
Getting started selling crafts.
First Steps
Starting a craft business, like starting any other type business, requires
planning. That said, I will go over some preliminary ideas that should be
thought through before beginning your new venture.
Do what you love
Don't get started in the craft industry simply to make money. I know that may
sound strange since the goal of any business is to make money, but starting and
running a business takes time and dedication to succeed. Almost definitely,
there will be lean times and if you do not absolutely love what you do you will
not have the stamina needed to follow through.
Start small
Give yourself enough time to learn your niche before spending thousands on
national retail and wholesale shows or mail-order advertising. Local craft shows
and selling to friends and family at home shows are great ways to get started in
the crafts industry. In a short time, you will learn a lot from your customers
and fellow craftspeople that will enable you to succeed.
Give it time and don't borrow
All businesses take time to make money. I recommend planning on at least two
years before showing major profits in the crafts industry. While you may have
great results from the start, don't count on it! You must allow enough time to
establish your craft business and to learn the ins and outs of the industry
before success.
With that in mind, I do not recommend borrowing money to start your business. I
know that sounds radical; however, when you have a couple of shows that do not
meet expenses, you will quickly become frustrated if you have a payment that
must be made! In the U.S.A. we have been blessed with a great economy for the
past several years, but there are always ups and downs. When lean times hit
people quit buying are nonessentials, including craft items.
Save money to start your business and as you make money, use it to grow your
business. Debt is the number one reason for failure among start-ups and
established businesses alike. If I still haven't convinced you that debt is bad
business, I'll mention two businesses that you may have heard of who are, and
always have been, virtually debt-free: Microsoft and Harley Davidson.
Copyright 2001-2008. All rights reserved. Any reproduction of this article in
whole or in part without written or verbal permission is strictly prohibited.
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About.com: Selling Your Crafts
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