I officially started my craft and home decor business over 25 years ago. I added a bakery to my business about nine years ago. I travel and sell at several shows throughout New England. My booth setup is reminiscent of an old-fashioned general store. I design items to match any decor, season or holiday. Special orders are welcome, and a big draw for my business. Weddings are also my specialty. As a professional wedding planner, I do everything from making the flowers to helping the bride pick her dream dress. My baked goods are made from scratch, and at the holidays specialty treats are offered.
How to Start a Business
I have found that a person is most successful when they are selling a product or service they are passionate about. I love designing, baking and all things crafty. This is what I believe has been the major reason for my success. Once you have a product or service, think of a business name and register it with your state. Also, get familiar with your state’s business tax laws. Talk to an accountant or business lawyer. Make your own business cards, flyers and posters to advertise your business. This will save you a ton of money.
Raising Capitol
When I first started my business I was told to get business loans or investors, which in today’s world is almost impossible. I am glad that I decided against this. This was difficult, but the victory of raising my own capitol was so rewarding. I wholesaled my products to stores, and offered a cash and carry business through my car. I would take a percentage of the sales to reinvest back into my business, and paid bills with the rest. It is a harder road to take, but at the end you won’t have any loans to repay.
Pricing Products
I learned at the beginning to price things as affordable as possible. The majority of my gifts cost under $12. At first it was hard, because I had to find quality supplies and still try to make a profit. When I first started my business, online buying wasn’t an option, but now it is a way a life. Online buying makes it easy to find store closeouts and sales. Also, bulk buying is a must if making or buying a product.
Tips and Things to Avoid
Don’t buy a lot of business equipment when you first start your business. This is a mistake I made when I first started, but soon corrected. Lease the business equipment you think you will need. You will be surprised at the equipment you won’t need. The best piece of advice is to think-outside-of-the-box when marketing your product. I have craft yard sales, home parties, and bring flyers to hairdressers in my area. There are many creative ways to market your product or service for free. Don’t keep the same products year after year. I always offer new items, colors and designs. Offering new, affordable products will help keep your business fresh and exciting. This tip will also keep customers coming back for more.