Before you even get into the nuts and bolts of setting up your business you need to ask yourself do you really want to have your own business? It’s often hard work, long hours and at the beginning, very low paid.
So what are the best ideas for a small craft business you can run from your own home? Some of the most popular ideas, with a very low cost to start, are:
- Printables Seller
- Jewelry Designer
- Clothing Designer
- T-Shirt Designer
- Greeting Card Maker
- Candle Maker
- Knitted Goods Seller
- Toy Maker
- Craft Tutor
- Online Course Creator
- Craft Book Author
- Soap Maker
- Photographer
- Coloring Book Artist
The advantages of these ideas are that you can begin very cheaply and can scale up the business easily as and when you need to.
What is the best craft business to start?
As per the list above, there are so many crafts out there it’s really impossible to say for sure which is the best craft business out there. You need to first ask some more questions within the scope of this main question. Questions such as:
- What crafts are you interested in?
- What crafts are you able to make?
- What crafts can you learn to make if you currently don’t make anything?
- What is the reason for making crafts? Money? Fun? Side hustle for extra income? Independence?
- What do you need to start?
If you think about the question using these sub-questions then your main question may well take the form ‘What is the best craft business for me to start?
Marc Anthony famously said “If you do what you love you’ll never work a day in your life”
Finding out what you love and then turning your passion into your business is the best way to ensure you will have success in your future.
What are the most profitable handmade crafts?
Jewelry
Jewelry has always been popular with many diverse groups as it’s so varied, ranging from precious stones and metals to simple wooden carved pieces and pretty much everything in between. If you have an artistic flair then jewelry making could be an option. These days people are less bothered about the materials of the jewelry and are more focused on the design and skill that made the piece possible.
Given the market for cheaper materials is there then the overall cost of making something could be just a couple of dollars but could easily sell for ten times that.
Candle making
The candle industry is worth a whopping 2 billion dollars just in the US alone! Candles have been used for hundreds of years and are still incredibly popular, especially now that people make them with interesting designs, colors, and fragrances. Candles can be bought for pennies or at the top end for hundreds of dollars each. A medium-range candle such as those made by Yankee candles, which they sell for $30 can be made at home for around $10 making candles a very viable home business option.
Soap making
Similar to candle making this industry is worth billions of dollars each year and many people are often on the lookout for something unique, especially for those who may have certain sensitivities or preferences with regards to soap. Be careful when considering soap as an option as you will need to follow much stricter guidelines when producing your product. You will need to make sure you provide material data sheets (due to human contact) and ingredients lists ready for anyone who may request them.
That said anyone who follows the guidelines and laws can turn a tidy profit as this could potentially be an endless supply of repeat customers if your products win their loyalty.
Photography
A print-on-demand photography business or selling licensed images for use could be a great business opportunity especially as most smartphones these days take excellent photos. As most people already have the necessary tools to take photos then all you may need is access to a site that helps you sell your art or for you to maybe create your own website to sell them yourself.
Many stock image websites sell photos but many often are missing exactly what people need so offering a bespoke service to take photos that people are looking for but cannot find could be quite lucrative.
Sewing
Sewing is again such a broad topic that it’s almost impossible to cover in a few sentences. If you are very handy with a needle and cotton or even your trusty sewing machine then you could sell handmade garments, toys, provide alterations, bespoke creations, etc.
What homemade crafts sell the best?
It’s going to be virtually impossible to cover what actually sells the best at any given moment as the craft industry is so fluid, what may trend today may not next month so it’s a good idea not to try and follow trends to often as you may end up with a lot of unwanted stock. Things that do tend to do well over time include but are not limited to:
- Bookmarks
- Keychains.
- Magnets
- Jewelry
- Coasters
- Headbands
- Candles
Items such as these can be made cheaply and easily so you will not need to risk a lot of time or money in the beginning until you get a greater foothold in your niche.
How can I start a small craft business from home?
Decide what area of crafting you want to be in
The realm of crafts is both incredible and vast at the same time. There is just so much scope that it’s important to decide what type of products you wish to create and the range. It’s important to stick to one type of craft, at least to begin with, as you will need to get materials to support your products. If you try, for example, to set up a business selling candles, bespoke boxes, and supporting/matching greetings cards then you will need to have the necessary equipment for all three areas of your plan thus tripling your outlay.
It’s better to do one thing well than three things adequately. People will pay good money for ‘great’ but not for ‘just ok’
Write a business plan.
This is one of the fundamental steps in any business. Even if you are just making a side hustle is important to know the how, what, and why. The best way is to write down a plan of what you are going to do, how you will do it, why you are doing it, and what you hope to do in the future when it grows.
This plan will be a good way of keeping you on track and keeping you grounded. It will also not be a write once and forget deal. This plan will be very rough at the beginning but as you and your business grow you will find yourself amending and improving your plan as time goes on.
Choose a business name and type
This is a fun part. You can choose something that represents you and your products, often called branding. Decide this now as it will be very hard to change later down the track, especially if you start off as a low budget brand and then want to be known for high quality later on as people will know you for being ‘cheap and cheerful’ rather than ‘premium’
Define your products.
Like your brand, it’s necessary to have a product range and stick to that. Do one thing well with a few varieties rather than trying to do twenty things and end up doing them all badly.
At the outset try not to have more than about ten to twenty products in your range, unless they are low-cost and generic like greetings cards where a broader range is better.
Get licenses, permits, and insurance.
Depending on where you are in the world there will often be a unique set of regulations and laws you have to follow, licenses and permits needed, and insurances as you are using your home for purposes other than general domestic use.
The good news is that there are often tax breaks you can apply for to offset the costs of these things. Especially if you are dedicating part of your home to your business in the form of an office or workshop. You can in many cases get a percentage of the expenses to offset, like your mortgage, electricity, water, etc.
Decide where to sell your crafts.
These days with the wonderful life-changing invention of the internet it means we are often able to sell far and wide, no longer limited by geography. This can be a help or a hindrance depending on the type of business you have.
For example, if you are selling bulky and/or heavy items then selling them overseas may be prohibitive due to the shipping costs but maybe not for a printable or digital product business.
Conversely, you could cut off a massive potential online customer base if you only sold photographs at your local craft market.
For most people, they may have a blend of the two. An online presence for distant customers but also a local physical presence so people can see your products up close and can hopefully rave about them on your website to help generate overseas sales too.
In conclusion
There’s nothing more rewarding than making something with your own two hands and having someone else buy it from you. It’s the best feeling in the world, not only are you building your own independence you are making other people happy with your great creations.
I hope this article has helped you to take the plunge and start making something great.
Looking to make money from crafts?
Click here to learn how with our step-by-step guide showing you everything you need to know.