Sunday, September 26, 2010

home based craft business

It is a three day holiday and you have extra time on your hands. When you have the free time to spare, that time is spent in arts and crafts pottery. Since you started your hobby, you have already produced quite a number of pots. You have given a number of your pots as gifts to family and friends. On numerous occasions, the people who have received your pots have told you on numerous occasions that you should start selling them and consider making it a home based craft business.

In fact, the idea has crossed your mind on several occasions. If you sold all the pottery pieces that you have accumulated over the years, you would make enough money to cover the cost of materials, cost of production and perhaps made enough to even start a small home based business. But before deciding to transform your hobby into a home based craft business, there are a number of factors that should be considered.

Among them are:

1. The amount of time you will devote to your craft business. Are you ready to give up your full time job to concentrate on your hobby that will allow you to work from home? If this is going to be a full time home based craft business, you have to make sure that you have saved enough money not only to buy the materials you will need but to support you until you start earning enough from selling your pots. If this is going to be a part time home based business for you, you should set a time limit and realistic production targets for yourself. You should not allow your business to affect your performance at the office and should only be done during weekends and the holidays.

2. How you will market your products. Will you be selling your products online? If you are going to sell your items online, you will have to sell your pots on eBay. You can also build your own website equipped with it's own payment facilities. If you decide to sell your products in small gift shops, you should talk to the owner. Decide on the best payment terms for you as well as the shop owner.

3. How you will produce your products. If your pots are really one of a kind items, there will be some establishments out there that will make bulk orders. When that happens, you will not be able to meet the target on your own. You will have to hire extra hands to get the work done and to meet the deadline set by the big establishment.

Once you have considered these factors, you should be ready to start your own home based craft business. In order to make a successful home business, you should come up with a business plan. It is this business plan that will serve as your guide when developing your business. If you search the Internet, there are many sites available that will provide you with online business plans. This can serve as the basis of your own business plan.

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