Business & Personal Finance

How easy is it to turn your hobby into a business? Selling crafts differs from other retail businesses in that you are both the creative mind, the labour and sales person behind the product.  Are you ready to tackle all the work that goes along with starting a small business? Have you thought about how and where you can sell your crafts? 

Starting any kind of business requires good planning.  First, you need to start producing your crafts and create and manage an inventory which includes the finished product.  Then, based on the cost of producing your product you need to come up with a price.  Creating a catchy name, colour scheme and display style for your business is also important. Developing rules or guidelines for dealing with customers such as shipping decisions as well as policies for returns and guarantees need to be considered. Finding low-cost ways to promote your product will also need to be explored. Will you go to local craft shows or just sell your product online using sites such as Etsy? These are just a few of the things you need to think about before starting your craft business. There isn't a quick path to success but the rewards can be great if you plan and do your research.

Here are a few books to help you get started in your craft business: