Starting and running a craft business can sometimes be as confusing as it is rewarding. Here are 5 things to know before starting your venture into the world of professional crafting.
1. Shop Around
Always comparison-shop for supplies. Prices can vary greatly from vendor to vendor. Once you find a low-cost supplier, don't stop there! Over time, prices do change. It's a good idea to keep an eye out for another distributor.
2. Buy at Wholesale Cost
Many suppliers offer discounts to qualified buyers. Qualifications differ, but usually a Retail Tax ID number will suffice. Call your local courthouse to find out whom to contact to obtain a retail tax permit in your area. (If you are selling crafts, you should already have one.) Once you have your tax identification, ask individual suppliers if they offer wholesale discounts and how to qualify.
3. Buy in Quantity
Often, buying supplies in bulk can save money. When comparison-shopping for materials, ask each vendor if quantity discounts apply and if so, what the percentages off will be.
4. Use Recycled Materials
Be creative with your raw materials! You may be able to save quite a bit by using recycled wood, textiles, plastic, metal and anything else you may use. Of course all of your supplies cannot be obtained through recycled materials, but you might be surprised at where you can cut costs if you give it some thought.
5. Shop at Discount Stores
Many large chains offer comparable prices on certain craft supplies. If you intend to resell the finished product that you make and have a Tax ID number, you can avoid paying sales tax. Ask the store manager for details on tax exemption status.
Marketing is the another key ingredient to any successful business! You must have ways to get the word out about your products. Whether you will be attending craft shows, placing mail order ads, or selling your crafts online.
Selling crafts online involves more than simply publishing a Web site. Successful online marketing requires time, dedication and a basic understanding of marketing in general. Your online craft shop is merely an extension of your real-world business and all forms of marketing should compliment each other to work efficiently and effectively.
Art And Craft Business
A great many artists struggle with perfectionism. Sometimes perfectionism helps us to get better at something but often, particularly in business, it can get in the way of success. Perfectionism might come from a general feeling of insecurity. We may think we're not good enough or undervalue our talent. To be a good and successful artist, we need to learn how to believe in ourselves and be confident in the value of our art.
In your art or craft making a business, it is important to use your time wisely and profitably. You must not let perfectionism slow down your work to where it is no longer profitable for you. Always keep an eye on your time. If you repeat making certain items, you might wish to set an upper time limit for making it. For example, perhaps you are making decorative journals and selling them for $16 apiece. To make it profitable, you may decide you shouldn't spend more than half an hour making each one.
Creative people are often very critical of their work. This is not how others see what we do. Things we see as mistakes they usually don't notice at all. Instead they see the beauty of what we make and admire us because they can't make it. Even other artists and crafts-persons will admire our work.
The best use of your critical eye is when you are developing a new product line or style. A good product line will be pleasing and sell well. Packaging, your logo and business card, the method you use to photograph your work, any promotional postcard, these are good areas to use your critical eye because many people will see them and it will affect your overall image. Anything that will be repeated is a good place to perfect your image, but don't spend too much time on individual pieces.
Both Alan Roberta & Cdmohatta are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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