Home Based Business Ideas For Crafty Moms

Posted on Posted in Home Business For Over 50's, Home Business Ideas For Women

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In saying that many home made crafts are for every popular in the market. The reason being that there is so many poorly made commercial items that original and unique hand made items are appreciated.

The list of items that you could make and sell is almost endless. Depending on your skill and interests you can make what you want.

But in saying that if you really want to make a livable income from your crafts then you need to know if what you are going to sell is viable. It needs to be viable from a manufacturing/pricing point of view and also from the view point of making a profit. Therefore the selling point needs to be competitive.

So how can you establish whether an item will be profitable?

Business Plan

When we start a business we should do a business plan to establish the points mentioned above.

If you have a business plan but are unsure about profitability then work very carefully with the costing of your product as that is where you need at least to make your Gross Profit. (Sales less cost of making your item).  After that you will then have to manage your other overheads to make a net profit (income for yourself).

If you need to do a business plan then visit our coaching site at http://thehomebizcafe.com where you can access our audio supported Home Business Plan. bp gr book logo  medProduct Marketing

Once you have established that you can make a profit from the product you wish to make then you need to establish exactly where you are going to sell it. There are lots of places open to you but even though that is the case you still need to work out:

  1. The viability of each market
  2. Your skills in selling in each market
  3. Your time available for selling in each market
  4. The profit you will get from each market after the costs for each
  5. How many markets you can effectively deal with

When deciding where to sell you need to evaluate your time, availability to be away from home and other responsibilities you have. For example if you have toddlers you might find that selling online is best because you can do the work at night when the toddler is asleep. But if you have school age kids you might find you can get out and work markets and fetes through the day and also because you may not have the technical skills to sell online.

Take the time to work out where and how you will sell and find out the current costs of doing so.

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