If you are the kind of person who wants to make a living out of the creativity you have, why not consider selling items that you make at home. It is always nice to have an added source of income so that in case of an emergency, you have some money to spare. This article explores three important steps to getting started in your own hobby business.
1. Sell personalized products.
One opportunity that has always been popular is personalized items. You can print pictures or names on a t-shirt, transfer images to your glass containers, and the likes. Printing colorful designs is something you can do at home. Investing in quality equipment is of utmost importance because this is the means for you to start your business. If you do not have enough capital, you can always start from something cheaper and then upgrade when you have enough resources.
Printing designs on your t-shirt is not that hard because you have a silkscreen for that. You just need to place an outline of your design on top of the screen and then print it using paint. Mix and match colors for added aesthetics. However, there are some printers specifically made for textile printing.
As for your plain glassware, you can give them life by adding some transfer-on designs. Add personality to your napkin, cushions, curtains, and the likes. Add these designs to almost anything you have at home. Just be creative and you will see that everything becomes more colorful.
2. Make and sell crafts online.
Craft shows used to be great places to sell and many still are, but online craft sales have been growing steadily, even during the recent recession. Etsy (the largest site for selling handmade items) moved over 200 million dollars in sales in 2010.
Other popular places where you can promote your handmade products online include Crafts, Artfire, Bonanza, Silkfair, eBay, and many others.
3. Price your items to sell.
Learn what the average market price is for items like yours in the market where you will be selling. For instance, if you make Christmas ornaments to sell on eBay, learn what the average selling price there is for ornaments like yours. If you will sell at craft shows, shop some events and make note of the prices. Once you know the average market price, do the math, and make sure you can produce the items and still make a profit.
Many craft artists start off pricing their items too low, thinking this will bring sales. Actually, you often find a sales increase from raising prices (within reason.)
The great thing about running your own business is that your time is flexible. But don’t be surprised, if you and your family may have to make certain adjustments to your schedule to make ends meet.
Learning how to run a home business takes time. You can’t perfect it overnight because it is a never-ending process. Even after your business becomes successful, you still need to read and learn more about how to expand your business even more.
If you need to jumpstart the creative process of finding ideas of what to make and sell, get inspiration browsing through successful retail sites like QVC, Etsy or eBay, so you can start creating wonderful items to sell online. Knowing what the public is already shopping and willing to pay for makes starting your hobby business easier.