Make Money From Craft

Hello friends,

Australian Country Craft and Decorating Magazine is one of my fav mags as it features lots of inspirational projects and home decorating. I usually bought the back issue from the local stores. I had found one interesting article published in the Vol 18 No 7 by Donna Peters - about making money from craft that I would like to share with all of you. Hope that the tips can be as guideline and beneficial for those who wanted to make business from their hobby. I had summarized it to the main point and Happy Reading.

Introduction

If you love what you do and are passionate about your work, it would seem only fair that you prosper in your chosen profession, but unfortunately this isn’t always the case. Many craft business fail despite their founders giving it everything they’ve got. Too many people approach it as an extension of their hobby and fun way to make some money doing what they enjoy, but this attitude leads ultimately to failure.

To succeed you must scrutinise each and every aspect of your operation and leave nothing to chance. If you’ve ever set up a stall at a craft market or attended one as a visitor, you’ll be well aware there is a great deal of competition out there.
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What’s in a name

· Decide on a name as a good one helps customers identify your line of bussiness and also assist in selling it
· Establish a relationship with your customer
· Create a large – but not tacky – sign and hang it proudly in a prominent spot in your stall
· Invest in a substantial supply of business card – make them eye catching and presentable as it gives:
o Impression of professionalism
o Mobile form of advertisement
o Raising brand recognition among the punters
o Offer people a way to get in contact with you
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Going Live

· Set up a website
· Invest in advertising and promotion and use craft forums and chat rooms to your advantage by logging on regularly and telling people about new products and the latest update to your online store
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Got what it takes?

· Be honest with yourself when considering whether or not people will want to buy what you have to sell.
· If you know your workmanship isn’t up to scratch, it’s best to pull out before you even get started
· If you still have a lot to learn you’ll benefit from waiting until you have all the skills and knowledge necessary to be the top of your field before launching your business otherwise you will never prosper commercially
· Once you ready to do a business in a craft world, stock up on product and never attend a fair without ample supplies. You need to have stock ready to go as nobody wants to wait around for you to make up a kit, pattern and so on after they have placed an order. Internet shopping’s selling point is convenient and if a customer experiences lengthy delays in receiving their goods, they are unlikely return to your site or recommend you to a friend
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Wants and Needs

Craft is not a business that provides the public with necessity; it is an industry that caters a luxury market. You have to make the customer feel as though they need to buy what you are offering.

It is difficult to produce something entirely new even if you did succeed, it wouldn’t be long before others were producing your idea. The trick is to be great at what you do and always be ahead of trends

A great product sparks interest and a satisfied customer will most likely visit you again to see what else is available. For this reason, you must change your stock constantly and always be releasing new items. You should update your range regularly and retire anything that's been around too long. This also creates an air of exclusivity and urgency - if people know your stock is always changing, they feel the need to buy immediately as they won't want to risk missing out.

It’s all about creating need out of want – and it’s your ticket to success.