Start Your Own Crafts Business

by Lynn, Jacquelyn

• ISBN13: 9781891984921
• ISBN10: 1891984926
• Edition: 3rd
• Format: Paperback
• Copyright: 2003-12-01
• Publisher: Entrepreneur Press

Summary

Crafting Dollars Out of Dreams Is your dream being able to spend your day working on your favorite craft? Would you like to make money in the process? With a small investment, your favorite hobby can become a fun, homebased, money-making business. Crafts industry experts estimate that sales revenues exceed $10 billion annually. Hundreds of thousands od working artisans earn their entire income from the crafts they produce-selling in flea markets, swap meets. Home parties, and retail stores, by direct mail, and through consignment displays in high-traffic, high-volume outlets. You can become one of them. Regardless of the type of crafts business you want to start, this book will tell you how to do it. It starts with an overview of the industry, looks at some specific crafts businesses and goes through a step-by-step process of running your new venture. You'll learn about: Market and location Equipment and supplies Inventory Legal requirements Record keeping and taxes Advertising and promotion Operations Like anything else, there's no magic formula, no quick path to success. But armed with knowledge and commitment, you can turn your craft hobby into a substantial revenue generator. Take the time to sit back and relax now-because once your crafts business is up and running, you're going to be a very busy person!

Table of Contents

Preface	vii
Making It Yourself	1	(6)
What Is a Craft?	2	(1)
In the Beginning	3	(4)
Taking the First Steps	7	(6)
What Does It Take?	8	(1)
Put It in Writing	9	(2)
Turning Pro	11	(2)
Identifying the People Who Will Buy from You	13	(8)
Retail Market	14	(1)
Wholesale Market	14	(1)
Identifying Your Market	15	(2)
Are You on a Mission?	17	(4)
Artist's Statement	19	(2)
Structuring Your Business	21	(12)
Naming Your Company	22	(2)
Trademarks and Copyrights	23	(1)
Choosing a Legal Structure	24	(2)
Licenses and Permits	26	(2)
Sales Tax Number	27	(1)
Business Insurance	28	(1)
Professional Advisors	29	(2)
Shipping and Receiving	31	(2)
Keeping the Cash Flowing	33	(8)
Sources of Start-Up Funds	35	(1)
Pricing Your Handcrafted Items	36	(5)
Doing the Calculations	38	(1)
What Crafters Charge	38	(3)
Locating and Setting Up	41	(22)
Working from Home	42	(2)
Retail Store Space	44	(5)
Carts and Kiosks	45	(1)
Freestanding Buildings	46	(1)
Choosing a Location	46	(1)
Commercial Leases	47	(1)
Negotiating the Lease	47	(2)
Buying an Existing Operation	49	(1)
Craft Shows and Fairs	50	(7)
Choosing a Show	52	(1)
Your Booth	53	(1)
Packing for a Crafts Show	54	(2)
Booth Behavior	56	(1)
Craft Malls	57	(1)
Facility Design	58	(1)
Health and Safety	58	(1)
Security	59	(4)
Theft at Shows	60	(3)
Staffing Your Business	63	(6)
Recruiting	65	(1)
Screening	65	(1)
Interviewing and Evaluating	65	(1)
Once They're on Board	66	(3)
Employee Benefits	68	(1)
Equipping Your Business	69	(16)
Craft-Making Equipment	70	(2)
Basic Office Equipment	72	(7)
Telecommunications	76	(2)
Other Equipment	78	(1)
Office Supplies	78	(1)
Inventory	79	(3)
Tracking Inventory	81	(1)
Buying Resources	82	(1)
Vehicle	83	(2)
Marketing Your Business	85	(8)
Defining Your Product and Image	86	(1)
Targeting Your Market	86	(1)
Advertising	87	(1)
Consignment Sales	88	(1)
Using Sales Representatives	89	(1)
Selling on the Internet	90	(2)
Repeat Business	92	(1)
Day-to-Day Dollars and Good Sense	93	(10)
Billing	95	(1)
Setting Credit Policies	96	(3)
Check and Re-Check	98	(1)
Checking Out Checks	99	(1)
Accepting Cards	99	(1)
Your Own Creditors	100	(1)
Taxing Matters	101	(2)
Tales from the Trenches	103	(6)
Never Stop Learning	104	(1)
Listen to Your Customers	104	(1)
Note Fashion Trends	104	(1)
Plan Shows Carefully	104	(1)
Share Booths with Caution	105	(1)
Avoid Reducing Prices	105	(1)
Learn to Say No	106	(1)
Practice Packaging	106	(1)
Change Your Products	106	(1)
Change Your Strategy	106	(1)
Make It a Family Affair	107	(1)
Accept Time Constraints	107	(1)
Walk Before You Run	107	(1)
Do It for Yourself	107	(2)
Appendix Crafts Business Resources	109	(6)
Glossary	115	(4)
Index	119