Embroidery is a fabulous hobby. It's relaxing and fun to do, can release your inner artist and provides useful treasures and much loved gifts for friends and family. But it is also to a way to free yourself from a dismal job or career or provide you with extra, work-at-home money on your own terms.
Despite the whirlwind of technology or perhaps because of it, people crave unique, one -of-a-kind creations. If you have ever wanted to take your hobby to the next level, you know it takes more than passion; its takes business know how.
If you can image it (and work at it) you can Be Your Own Boss doing what you love. But don't make the mistake of thinking that the craft business is like any other business. Crafts are works of art that bring you copyrighting challenges and makes buying an emotional experience.
8 Steps to Profit
1. Perfect you craft
If you have reached the point in your embroidery where you are ready to start selling, this step may be (and hopefully is) a given. Quality matters and if you want to make a business out of a hobby, only the best will do.
2. Check Out Your Competition
Don't fear a lot of competition! It just means there is a lot of demand for your product. And don't try to copy your competition. Unique is not a knock off. Study your competitors to learn what you can do differently to make you and your work even more unique.
3. You, Inc.
4. Select Your Product
Whether you decide to make pillowcases or framed works of art, get specific. You can always expand later but for starters, start small. Your product will help build your brand and the more focused, the more you can control the business direction.
5. Find Your Profit
Probably the hardest part of all is figuring out what you are going to charge for your work. Craft fairs and online sites will help you set a competitive price but will not determine your profit. For that you need to find vendors so you can buy supplies at wholesale and time yourself to determine the hourly worth of your work.
6. Know Your Customer
Often an overlooked component, understanding who your customers are will help you focus your product and marketing in the right direction. Study demographics on the internet to learn everything you can about the type of person who would buy what you are selling.
7. Determine Your Marketing Strategy
Learn how to market. If you plan to sell online, check out the auction sites or how to run your own website. If you plan to sell at craft fairs, attend as many as you can and talk to the promoters, your competition and the customers. They all have a different perspective and you want to know them all. Perfect a strategy and expand into other areas.
8. Ask the Experts
Avoid the mistakes that only a newbie can make by learning from the people that have already make a success out of the craft business.
Before you jump in with both feet, dip a toe or two in to test the waters. Read, study and learn as much as you can and then GO for it and make a profit in your own embroidery (or other craft) business.