Would you dearly love to make money with your craft hobby? I know many of you have had a hobby or a craft interest you love for many years.
That’s why I want to take a look at these 7 top tips to help you turn your craft hobby into a business.
Wouldn’t it be great to actually make money from your craft hobby? I must have been about 10-years-old when I learned how to knit. I absolutely loved knitting.
In fact, I think I got hooked as I ended up creating very complicated Fair Isle patterns using several needles at once!
But sadly, when I went to high school and discovered sports like netball and hockey I became distracted.
It’s a shame really as I got pretty good at complicated patterns and could probably have sold some of them.
I just couldn’t find the time for my creative hobbies of knitting and sewing and I do sometimes regret not pursuing this further.
So, to avoid you making the many mistakes newbie crafters make when they start selling handmade goods, I’ve put together these 7 steps to help you out.
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In the USA the Craft Industry is worth $44 billion & £13.1 billion in the UK
Just think, there are literally thousands of women all over the world who are making money with their craft hobbies, interests and passions. Now, you could be one of them!The craft world and handmade goods market has exploded over the last few years. This is due to more people looking for original gifts and products.
Did you know Etsy, the largest online marketplace for crafters, reported $2.39 billion (yes, BILLION) in annual gross merchandise sales in 2015!
Although, you’ll find the new Amazon Handmade sector now offers artisan-only community to sell your handmade goods, is worth checking out.
As a career expert for many years, I often helped my clients to create their resume (or CV as it’s known in the UK). I would ask them to list their interests and hobbies so we could add it at the end of their resume.
Above all, I was always amazed at how many of them enjoyed craft hobbies. Many told me they’d love to start a craft business and work from home.
Disclosure: This post may contain affiliate links. Read my disclosure page for more info.
How to Make Money from Your Craft Hobby
1. Can you make money with your craft hobby?
Here’s a little test…
- Do you have a hobby or interest that you’re really interested in?
- Does time fly by when you’re working on your hobby or interest?
- Are you good with your hands at creating things?
- Do people often compliment you on your hobby?
- Could you do this day in and day out if you had to?
- Could you teach others to learn what you already know?
- Would you love to learn a new craft and make money on the side?
How did you do?
If you’ve answered ‘Yes’ to most of the questions, great! There’s a chance your hobby or interest could be the start of a work-at-home craft business.
Meanwhile, you’ve probably been interested in your hobby for years, right? So, you already have in-depth knowledge of your hobby.
But before you take the leap into the unknown and tell your boss you’re quitting… take a breath. You’ll need to ask yourself some questions before you start a craft business.
2. Is it something you like to do… like a lot?
If you want to make money with your craft hobby you’ll need to be aware of the logistics first.
By this I mean, how will it take you to create your products and how much will you charge?
So, to help you out, let’s take an example of a crafter who enjoys creating beautiful handmade traditional quilts.
You have to ask, how long will it take her to create just ONE quilt? She would have to know exactly how many hours she spends on just one quilt.
The thing is when you start a craft business, remember, you’re the ONE who has to drum up clients and keep the cash flow coming in, so your time is limited.
So, it’s important to understand how much time you’ll be able to allocate to your craft business to make it profitable BEFORE you start, right?
3. Will people buy your handmade goods?
Let’s take our example of our crafter who loves creating lovely quilts. Quilts can be a great feature in your bedroom but are they popular with buyers?
Well, if they are exclusive and handmade probably. Check out the benefits of buying handmade from the DC Kits website. Newlyweds and Millennials could be your market.
People in these markets are known to prefer more traditional goods than the cheaper ‘Made in China‘ versions.
Remember, market research has to be done BEFORE you start your business. Take a look around the online forums involved in your topic of interest.
We’ll look at the places you can gather market research in Tip #5.
QUICK TIP
Do your research on Google by typing: ‘forum: quilting’. This will give you a feel for what’s trending and any issues you may encounter.
4. Is there training to help you learn a craft hobby?
You’ll find sites like Annie’s Craft Store has some really great online courses for creatives and crafters who want to start a craft business.
What’s great about the video classes is you can learn from top experts when it suits you. Just watch the videos, pause and watch again.
See easy-to-follow close-up demonstrations.
5. How to do market research for your craft hobby
So, if you’re serious about how to make extra money with your craft hobby you’ll need to be sure you have potential customers (or not). A great way to do this is to:
- Visit craft shows on a regular basis
- Take a look at forums or Facebook groups around your craft hobby
- Get in touch with others who are interested in your craft hobby
- Check out the sales and how others are selling products like yours on Etsy and online market places
Here are a few craft fair listings and event companies in the USA:
In the UK? Check out the UKCraftFairs.com website for your craft fairs in areas in your local area.
To give you inspiration, just look at what Amy Smart did when she created Diary of a Quilter website.
Take a look at how Amy has created a fantastic brand and business around her craft passion… quilting.
6. Can you make money from your craft hobby?
Well, to be truthful, that depends. Chances are up until now, you may have only dabbled in your hobby in your spare time.
Above all, when you only work on your hobby in your free time, it’s difficult to measure just how much time you are spending from start to finish.
Even a craft like knitting can make you money as long as there is a market that wants what you have to offer.
Take a look at this article Countries Where Knitting is Most Popular from the folks over at CreaCrafts.com
For a great example of how Emily turned her craft hobby into a business check out the ‘Knitting for Profit’ website and get more inspiration!
Remember, your time is money!
As the old saying goes, “Time is money“. This means how long it takes you to complete each product will factor into the price you charge your customers.
Also, you’ll need to keep track of how much money you spend on materials and supplies, marketing and anything else you factor in.
You’ll need to come up with a wholesale price (while still earning a real profit) and a retail price.
Do your figures make sense?
Great examples of successful crafters
Founder Nicole Snow decided to unwind with yarn after leaving the Air Force in 2008. She now imports yarn and is a fiber importer, wholesaler, and retailer.
7. Where can you sell your handmade products?
The number one place to sell your handmade products has got to be Etsy. In 2018, the number of active sellers through Etsy stood at 2.1 million. The Etsy site had 39.4 million active buyers who had bought goods through the platform.
- 2.1 million active sellers
- 39.4 active buyers
You can set up your own shop without any advanced techie skills.
In addition, the Etsy staff make it very easy for you to choose which category you need to get the best results (and more sales).
In conclusion, here are a few other places you can make money with your craft hobby products: