Friday, April 5, 2013

Turning Yout Home Made Yarns Into A Home Made Business - Guest Post by Jennifer Smithson


Turning Your Home Made Yarns into a Home Made Business
Have you ever considered turning the crocheting and knitting you love as a hobby into a business that actually brings in money? It’s a wonderful way to earn more money aside from your regular job, and it would be a great little venture for you to think about.
I’d advise you to think ahead if you want to give this a go. There are several steps you’ll need to consider if this is to become more than just a dream. You’ll need to plan ahead responsibly and create a business plan, just as you would with any other business, if you want to be successful. Just imagine what you could achieve in a few months from now if you start knitting yourself a new business!

[image: http://commons.wikimedia.org/wiki/File:Knit1.jpg]
Which products could you make?
Obviously, quality is the name of the game. Which products could you sell well and make a reasonable profit on? The good news is many people are prepared to buy something homemade and individual in nature for a higher price than they’d pay for something mass produced. I know you can offer the personal touch – that’s the beauty of knitting – so you can definitely find a ready market for your crocheted and knitted goods.
Another possibility is to pick a product that would take longer to make, but which you could sell for a higher price. I’d choose something like a big thick chunky sweater for this approach; I’ve found people really respond to something handmade like this.

[image: http://commons.wikimedia.org/wiki/File:Cable-caston-pull-yarn-throught-stitches.jpg]
Where would you sell them?
Many craft items sell incredibly well online. We’ve all heard of Etsy, but I’ve found other sites like Folksy that are also successful. You can take advantage of a cost effective and easy to use platform to use to sell your wares. You could also set up your own website and sell your knitted and crocheted items on there, but to my mind, the fastest and cheapest start would be to go to one of the established and well known sites. You can focus on attracting traffic to your own site later. There’s plenty to enjoy and discover as you feel your way into this business idea.
Alternatively why not sell your wares locally in shops and at craft fairs? Perhaps you could get a stall at a local event. They’re sociable affairs – I love them and if you have the gift of selling you’ll love them too.
Considering the costs of starting a business
Turning homemade yarns into a proper business requires thought and investment. If you want to sell knitted goods on craft sites, you can start earning money from your first sale. I’d hold off on starting a website until later on. However, you will need to make many items in order to fill your online store or provide a good display for a local craft fair or shop. You’ll need lots of wool or yarn for this, so you may want to get a small business loan to start off with. You will also need to pay fees for a stall if you decide to go down this route. Business cards are an absolute must, so you can hand them out to anyone who may be interested in purchasing something from you. You could also promote your business via a blog like this one! With a good business name – something quirky and memorable – your investment in promotion can go a really long way. I believe it is necessary to invest in promotion, business cards and stock if you want to be professional and earn some cash from the hobby you love. Think of this – start as you mean to go on, and you’ll be amazed at what you can achieve. Don’t be scared about a small loan, as it can get you going on the road to success if you use it wisely.
As you can see, there is a lot to focus on if you want to turn your hobby into a viable business. Don’t be overwhelmed though – you can do it!  You could end up with a small additional income, or you could hit the jackpot and find everyone wants what you are knitting. Just imagine how wonderful that would be – to earn an income from the hobby you love most. Wouldn’t that be amazing?

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