Everyone knows that there is a lot of work to be done before starting a craft business. You will have to figure out a name, set up your studio, and most important, produce inventory.
The first year is usually spent finding the right market. Everything takes time and patience. Your cash flow may be nonexistent. That is why even the IRS allows businesses to deduct losses during the first couple of years. Here is a list of some of the expenses you will be able to deduct to reduce the taxes you need to pay:
- Dues to professional organizations
- Fees for Craft Fairs
- Books
- Supplies
- Postage
- Photos
- Stationery, and Business Cards
- Rent on your studio
- Equipment
- Fees For Education that is Craft Related
- Utilities that are part of your workspace
- Most anything that is related to your business expenses
Before entering a craft show, learn all you can about that show. Call the local crafts show organizer and any other craftspeople for their ideas. Review all applications for the show. Visit several craft shows first and speak to some of the vendors there. I know that here where I live, every first Saturday of the month, there is a huge craft show and the vendors are more than eager to share with you any information they have.
Some of the craft shows are not free, and some charge as much as $300.00 to sell your crafts for a weekend show. Other craft fairs are juried. Which means that you give them a sample of your work and the organization decides if its good enough to sell at their fair! But the free ones such as county fairs and state fairs can be very lucrative.
Not that the weather is getting better, flea markets are a great place to sell your crafts. You can really establish a customer base there.
Make sure you have a lot of printed material that has your logo,business name, and sample pictures of your work, and most important, contact information. This includes business cards, letterheads, and brochures. You can do a direct mail out to everyone that you think would be interested, including past customers. So be sure to keep a log of all your customers. People are your biggest asset so remember to ask questions and listen to answers.
It is really important to join as many craft organizations as you can. Your local Chamber of Commerce will have information on craft organizations in your state. There are a lot of craft groups here on ebay also. The groups are full of wonderful people with great ideas on crafts and marketing crafts.
I love scrapbooking and a lot of the crafts I do are related to scrapbooking I have made clocks that look like scrapbook pages, and photo frames that look like scrapbook pages! Also I enjoy painting
I love it when someone buys a painting and I know that they will really enjoy it for years. Selling the crafts that you made yourself can be very satisfying!
With a lot of patience, time and trial and error, you will find a real great career in selling your crafts.
Good Luck With Your Business!
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