Home Based Craft Business – Is it Right for You

In order to decide if a home based craft business is right for you, first ask yourself if you enjoy making hand made crafts, not occasionally or once in a while, but is it a true passion of yours? Do you have the time, energy, and dedication and know how to undertake such an endeavor?

If your interest in hand made crafts is great then you are probably on the right track. If hand made crafts are your passion and they are something that you can turn into a moneymaking venture then all the power to you. However, do not do it just for the sake of money or you will disappoint yourself tremendously in the short and long-term.

You need to be willing to put lots of exhausting hours into your business as well as plenty of hard work and a fair amount of commitment if you want to make it a success. Keep in mind too that all businesses, hand made crafts and otherwise, have their share of ups and downs and if you do not love what you do then you will have a difficult time surviving the “down” times when things are not going so well.

Home Based Craft Business Plan

Planning is crucial when beginning a craft business and so is the importance of starting small and working up to bigger and better things. Take the time to learn everything you can about hand made crafts and the business of such. Visit craft shows and see how other novices as well as seasoned pros do things. Start with smaller shows in your community, and then branch out to other regional shows before working up to national events.

Sell to your family members, friends, neighbors, co-workers at local craft shows, yard sales, flea markets and auctions and be like a sponge. In other words, absorb all the knowledge to be gleaned from these valuable opportunities and keep learning every step of the way. If you do it this way then you will not spend money you have not yet earned from your home based craft business. Save the national craft shows and the advertising via mail order until you are more established in your chosen field.

Running a Profitable Home Based Craft Business

Do not be impatient in regards to the moneymaking side of your business. It takes time to start bringing money in and building a rapport with people interested in your wares. Give yourself time to grow your home based craft business and do not rush into anything. It is generally the norm for any business to need at least two years to show any kind of profit.

Keep in mind that no two businesses are alike and you should not compare your craft business to other people’s businesses. Some businesses are only breaking even after two years and take up to three to four years to start making money. Crafting as a business is not for the faint at heart and it is not for those who give up easily. It is a business that is right for you if you are a determined individual who soldiers up despite the sometimes overwhelming odds.

If you are quick to spend and believe in the “act now, think later” philosophy then a home based craft business might not be the best bet for you. Do not take out a loan to start your business although it is very tempting to do so. Instead, a good recommendation financially is to save a little bit of money to begin and then start with peanuts as the saying goes. Make do with what you have and as you begin to bring cash in then you can use it to build your business. However, do not try too overextending yourself or doing too much with your business too soon.

Give things time to grow and nurture. Keep in mind that debt destroys many companies before they get off the ground. Do not let that happen to your business! Become business savvy by being money savvy. Save wisely in regards to your home based craft business and then spend it wisely!