Many crafters and artists in the world have a dream of turning their passion into a business. While it is undoubtedly hard work, the result may be a fulfilling and profitable career. This is true for all the knitters in the world – it is possible to turn knitting into a business with enough time and effort.
As with starting any business, there are tips and tricks to make it easier. Read below to learn how to create a knitting business successfully.
Pick a Niche
There are so many aspects and elements of knitting, any one of which could become a successful business. For example, one could choose to design and sell knitting patterns, or perhaps they prefer knitting and selling the result.
When creating a knitting business, it is best to start with one thing. Try to make it unique by adding your own spin on the matter. This will help your business stand out, giving it the best chance for success.
Research
Research is a critical step for any new business. Entrepreneurs and crafters alike should take the time to research the industry they’re looking to dive into. This includes checking out potential target audiences (those most likely to buy what you’re selling), the competition, supply and demand, and other relevant factors.
Create a Plan
Now that you have a business idea, it is time to create a business plan. Start with the basics: will your business be selling patterns, selling completed pieces, or taking commissions? Other basics to cover during the planning process include prices, marketing, customer service, whether custom orders will be allowed, etc. Don’t forget to consider where the best place to sell your products will be. Is an online store the best option, or will selling in local markets be your goal?
Design a Brand
Even small businesses have a brand – that is, there is a specific name, logo, and color palette generally associated with the company. This is how customers can easily remember (and find) your business. Naturally, it is critical not to skip this step. It is okay to do this step slightly out of order – many may prefer to establish the branding before delving into the rest of the business plan.
Sourcing Material
Crafters and artists have an additional step to consider when planning their new business: where to source their supplies. What might work for the casual crafter isn’t always best for the business professional. Look around and see if any suppliers sell in bulk, as this will help save your new business money.
The Paperwork
Last but not least, there’s the paperwork. It is best to get all the paperwork sorted ahead of time to avoid any potential problems. Some areas may require a business license, significantly if the business exceeds a specific size. Trademarking is another option for a company, though not technically a requirement. Finally, there’s the space to consider. Will you need to rent a room to run your business?