Do you have a passion for yarn crafts? Many individuals who are gifted in knitting and creating unique memorabilia from yarn this has become a source of income. Yes, it’s possible to make a living from yarn crafts.
However, it doesn't come without its challenges. From discovering what your fibre art niche will be to searching for the right yarn sale so that you can invest in inventory it takes hard work and planning to launch a career in this field.
Finding A Good Yarn Sale
In the beginning stages of starting your own fibre arts business, you’ll need supplies to produce a wide range of work to entice customers.
Of course, funding a new business can be a challenge especially when you are working with limited funds.
Purchasing yarn from popular craft stores can be expensive. You also have the option of purchasing from the plethora of online vendors.
Yarn can be purchased for cheap prices on auction websites like eBay. In fact, the yarn is typically sold in bulk on such portals.
Auctions are listed daily which means you’ll always have the opportunity to purchase yarn for relatively low prices.
You’ll find that there are online vendors offer the best prices available for yarn. These vendors provide regular sales on yarn and craft supplies.
Determine What It Is You Want to Sell
To operate a successful craft business it’s important to first identify what you’ll be specializing in. It’s best to create and sell crafts that you are most passionate about. Here are some options available to you:
Customized Fiber Crafts
In this niche, you’ll take custom orders from customers. This requires the ability to create what you they want on demand.
The best thing about this option is that you’ll always be making something unique which allows you to continually flex your creative juices.
Sell Original Patterns
Of course, marketing and selling original designs is always an option.
Specialized Craft Projects
Perhaps you're interested in a particular niche such as toddler themed patterns.
Find A Place to Sell Your Knits
Where exactly will you be selling your work? Some people prefer to sell at local craft fairs where each sale is more personal.
However, you’ll be able to generate larger profits by mastering and selling online or to retailers. You’ll have to determine what will make you happy. Some of the fiber craft options include:
Selling completed craft knits through popular craft websites like Etsy.
Create your online store through websites like Shopify which allows you to establish a brand.
Become an expert in your field and create an online course or teach a class in your home
No doubt, it will take a lot of trial and error. You’ll have to see what works for you and make changes accordingly.
Build A Website
Whether you choose to sell your crafts in person or online building a website to showcase your work is crucial to generating a buzz. Be sure to take quality pictures of your work to put on your website.
Since your website will be showcasing your work you’ll want to make sure that it is professional and easy for visitors to navigate.
Here is the part that everyone hates to talk about. Trying to figure out the right pricing strategy for your handcrafted work can be a challenge.
You don’t want to overprice your items and scare customers away. On the other hand, getting what you deserved after putting blood, sweat, and tears after taking time to handcraft an item.
Here are some tips for fairly pricing your work:
Do online research to see just how much other artists are charging for they're craftwork. This can be done by visiting websites like Esty or auction sites.
Check outsold listings to see what listings customers are actually buying.
If you are new to specific niche its best to price the item below market value
If your using higher quality yarn material if your product is exceptionally unique don’t be afraid to price accordingly.
Take into consideration the cost of supplies. Of course, if you can get a discount on yarn materials the more profit you’ll be able to keep.
Some crafters charge an hourly rate which can be profitable for some. However, this works best if you're receiving your supplies relatively cheap or for free.
Professional packaging is key to really establishing your company. Make your items look like they belong in the shelf of a store by having attractive packaging. Add a price tag to each item and be sure to include cleaning information.
Shipped items should be carefully packed and wrapped in beautiful packaging. Why is packaging so important? You should want your customers to receive a product that is properly presented. It makes your customers feel as if they are receiving a gift. Be sure to include a business card in your packaging.
Develop A Unique Signature
Successful crafters have a distinguishing style that your customers will come to love and enjoy. A signature style can be developed by analyzing yarn choice or hone crocheting characteristics or a unique pattern can be helpful.
Don't Forget to Learn the Law
What many people don’t know is that there are laws that govern the avenue of craft sales. For instance, if you sell a pattern to a magazine you might be required to sign a contract that prevents you from reselling to other media outlets.
In addition, the income earned from craft sales must be reported. Sales and self-employment taxes are often applicable.
To avoid trouble with the IRS. Consulting an attorney or an experienced financial advisor can be helpful especially as your business expands.
Are you ready to make money doing what you enjoy? Having your own craft business can be fun and its flexible. Much like running any other business there is much to learn so its best to start slow.
Begin on a smaller scale and expand as you figure things out. Remember, good customer service and staying true to your heart’s desire is the recipe for success.