Turn a hobby making home accessories into a thriving small business.
Making accessories for the home is an enjoyable hobby for many people. However, there comes a time when there is simply no more room for throw pillows, wreaths and other home decor items to be displayed. This is when most people who make their own home decor accents decide to start selling their creations. The idea of turning a hobby like this into a business can be a bit overwhelming, so it is best to break the task into small, manageable steps.
Licensing and Other Red Tape
The prospective business owner should start by deciding on a name for the business and registering it with the state. If he or she doesn't want to take the extra step of filing a Doing Business As permit, then the business name will have to simply be his or her name. After this, the small business owner should make a phone call to check into state sales tax requirements and business taxes. Consulting with the local Small Business Administration to make sure the business is set up properly is a good idea.
Internet Sales, Craft Shows, or Retail Stores
Next, the artist or crafter will need to decide whether Internet, craft show, or store sales are a better option. For many people who make home decor accents, using several options works best. Sometimes, the only way to find out whether online or offline sales do better is to sell items through both venues for a few months. At the end of the trial period, he or she will need to look at the volume of sales, profit and ease of shipping and handling the products to make a final decision.
Of course, there are other things to consider, as well. If fragile items are breaking at an alarming rate during the shipping process, store sales may be the best option. If items in stores are becoming worn and battered before they get out the door, online sales may work better. With the high cost of fuel and the long hours involved in craft show sales, he or she may decide not to continue selling in that market, despite successful craft show sales.
Home Accessories Businesses Are All About the Customers
When crafters make things without worrying about resale, they can simply make whatever they feel like making. However, once customers enter the picture, the emphasis is on what they want.
- Color trends are very important. Someone who only wants to make purple accessories will likely have quite a bit of trouble finding a market for them if all the home decor magazines are showing pale greens and blues.
- Sturdy, professionally finished pieces are essential. Making a piece that holds up just long enough to make it out the shop door means that having customers return to buy a second or third piece is not very likely.
- Attention to packaging is important. Lovely handmade tags and attractive boxes can make a business really stand out in this competitive business.
