Business Opportunities Weblog

April 17, 2008 by Rich Whittle | 1 Comment

The Wall Street Journal:

The number of people making a living — or at least spending money — from their hobbies in the crafting industry has taken off in the last few years.

Etsy.com, a site where small entrepreneurs sell everything from original artwork and greeting cards, to jewelry, bags and clothing, reported $26 million in sales in 2007. Since it launched in 2005, more than 100,000 sellers have set up shop on the site.

“The explosion of the crafting movement is a reaction to technology, and, perhaps, a desire to reconnect to each other,” says Meg Mateo Ilasco, author of Craft Inc.: Turn Your Creative Hobby into a Business. Ms. Mateo Ilasco left architecture school to run her custom wedding-invitation business after receiving an overwhelming response to an ad she placed in an issue of Martha Stewart Weddings magazine. What’s more, DIY-minded people now realize that they can make and profit from better versions of mass produced items the marketplace, she says.

For anyone looking for success in a creative crafts business, these tactics are key:

• Stick to your vision: Avoid jumping on trends. By the time you get your creations produced, it could be over — or, at least, many other people will already be established in the market.
• Find a core audience: Sign up for craft fairs and let your friends know what you are up to. If you create things you can wear, like jewelry or clothing, wear them in public as much as you can.
• Use alternative publicity: While the conventional routes of publicity and marketing are still viable, it’s more important than ever to consider blogging.
• Charge a fair price: If you want your craft business to be your main source of income, you need to properly assess the value of your product.

Photo by Etsy.

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Tags: Crafts, Creativity, Ecommerce