Craft Focus - August/September 2020 (Issue 80)

90 How to start a craft business Having a job that you love is important, so it’s hardly surprising that lots of great craft businesses have stemmed from the love of a hobby. Now more than ever, people appreciate the love and care that goes into creating something homemade. If you’ve spent this year creating and crafting, and you’re ready to take the plunge and make it business official, here are a few bits of advice on what to do next. First, a word of warning. You need to accept that turning your hobby into a business might mean that you no longer see it in the same light. The activity you have done so many times for enjoyment might not provide the same escapism it once did. However, setting up a business has so many benefits, not least because you get to be your own boss, see your products in the hands of complete strangers who have invested in your company and potentially forge a successful career out of something you love to do. HAVE A BUSINESS PLAN Careful business planning is essential, so before you do anything, think about what line of products you are going to create, what shops you want them to be stocked in and where you would like to be in five years’ time. It’s important to be open to change, but having a clear focus from the offset is a must. You also need to think about whether you want to be a sole trader or a limited company, and look at what kind of insurance you might need. You also need to consider how much it costs for you to create the product and how much you would like to sell it for. Looking at different wholesalers who you could work with to achieve a reasonable cost for materials is a good place to start. RESEARCH THE MARKET When setting up a new business, strong research is fundamental and there are so many things that you can do to get a clear idea of whether there’s a place for your product or not. Trawl through online market places such as Etsy and Ebay, and visit independent shops and craft fairs to see how similar products are selling. Note how much they’re being sold for, highlight anything you think make your pieces better and try to improve on anything that your products lack. Researching online also allows you establish if there’s a demand for your product. You want there to be a need for what you’re selling, but you don’t want the market to be over saturated with the products that you are hoping to sell. You can find online forums and social media groups which are full of crafters sharing their opinions on favourite products and experiences. KNOW YOUR CUSTOMER When it comes to research, it’s just as important to identify who your customer is. Knowing who you’re selling to and marketing your products for your ideal customer-to-be enables you to package your products effectively. Knowing your target customer allows you to display your products in the correct way, use the correct messaging and choose the right places to sell them. Your goal is to build a loyal following and allowing them to feel part of your world is half the battle. PROMOTE YOURSELF Your brand needs to reflect your company and its ethos, regardless of which platform you’re using. Your logo, website, marketing materials and social media platforms should be consistent, so that when a customer sees your name, they know exactly who you are, what you stand for and what they can expect from your products. The last thing you want to do is confuse your customers, and using PR and social media are cost-effective ways of spreading the word about your business. A quick search should enable potential customers to have a clear idea of exactly who you are. Are you taking the plunge and starting your own business? Sara Davies offers Craft Focus readers sound advice Sara Davies MBE is founder of Crafter’s Companion BUSINESS