Make More Money with your Craft Business

Do you have a business selling your handmade crafts? Selling crafts can be a very fulfilling business if you’re doing it right and for the right reasons. Are you making a craft that you enjoy and love to create? For example, do you sew quilts and love designing them? Do you refinish furniture and enjoy taking it from dingy to beautiful? In this business, if you don’t love what you do, you will get burnt out fast, and you won’t make much money from it.

If you want to make more money from your craft business, you need to go through your business plan carefully, examining each aspect, to ensure you’re running it the best way possible to maximize profits. Simply getting great money making ideas for selling crafts isn’t enough.

Are you spending too much time making your crafts or too much money on supplies? Regardless of your pricing structure, if you don’t control you’re input, you’re throwing away money. Design a streamlined process to building your product. Don’t rush, just learn how to better manage your time and increase your output. Instead of going to craft stores and other places, look for wholesale materials and recycled materials. Buying wholesale considerably drops the price per item.

Where and how are you selling your crafts? Craft fairs are a great place to sell crafts because people are coming in looking for crafts. Set up your shop to cater to your customers, and draw in the right people. Emphasize the decorative aspect of your business, if that is what you’re selling. If it’s something useful, show it off as such. For example, if you’re selling scarves, where them and encourage the customers to see how they look with them on.

Don’t just sell at craft fairs. Increase your customer base by also selling at flea markets, in consignment shops, and online. The internet is full of opportunities for selling crafts such as at Etsy.com, on eBay, or through your own website. The more you can get the word out, the more sales you can get.

Finally, don’t be afraid to price the item higher. You are handcrafting unique pieces and the price should reflect that. You’re not competing with department stores or other mass-marketed items. Experiment with your price to see how people respond. You might be surprised and find out more people are willing to spend 50% more because it’s seen as a luxury item.