Business Overview:

If you love to knit or crochet or would just love to have a business with homemade products, think about starting a knitting business. You don’t even have to make your own products to make money in the knitting or crochet business. Many people enjoy knitting as a hobby but have no idea where to start if they want to turn their hobby into a lucrative business. The secret is knowing which markets to needle your way into and which products sell best. Startup costs for this business idea are low. You probably already have a computer and you can access free accounting software so you just need to get some wholesale supplies and you’re ready to go. Did you know you can earn a hefty profit without ever picking up a pair of knitting needles? If you know how to sell other knitters’ products, you can be very successful with this online business idea. You just need to have some basic business knowledge and know where the highest profit areas are.

A day in the life of a knitting business owner:

A typical day for a knitting business owner will be different depending on whether you knit your own products or acquire them from other knitters. Either way, you will check your orders to see if you have those items in stock. If not, you may need to do some shopping (either online or locally) to pick up the materials you need then get started on your new orders. If you get your products from other knitters, you’ll hop online and see if your contacts have these items in their stock. Finally you’ll need to ship off any completed products.

The Good:

• If you’re already a knitter, making a profit with your products is easy.
• If you’re not a knitter, you can still make a profit with others’ products.
• There are extremely lucrative markets that you can focus on to make the highest profits.
• Startup costs are low; you can turn a profit quickly.

The Bad:

• If you try to sell in the wrong markets, your profit margin will be low.
• If you make the wrong products, you won’t be able to sell them.

Resources:

• The Knitting Guild Association
• Craft Yarn Council of America
• Wikipedia on Knitting

Technorati Tags: crochet business, knitting business

Business Overview:

If you’re looking for a great moneymaking opportunity, doing what you love, consider the candle business. Maybe you’ve thought of selling homemade candles but didn’t know where to begin. If you are interested in the candle making business, there is plenty of money to be made if you know what you’re doing. All you need are some supplies, a computer to keep track of orders, inventory and finances and, most importantly, a love of candles. You can really jumpstart your profit margin by trying your hand in the soy candle business. Soy wax is healthier than regular wax and therefore soy wax candles can be sold at higher prices. A soy candle making business may be the way to go if you want to tap into the lucrative health market. Before you get started, look into creating a candle making business plan to ensure you have everything in order. You don’t want to burn yourself spending time and money in the wrong places. Another way to increase your business is the online candle business. The Internet is a fantastic way to sell any product and candles are no exception.

A day in the life of a candle business owner:

A typical day for a candle business owner will start with a quick inventory. If any orders have come in, you can get started making those candles. If you need to buy more supplies, make a list of what items you need. If you do your supply shopping online, take care of your supply list by ordering these items on the Internet. If you buy your supplies locally, take a spin through other candle shops to check out the competition. Then you might check recently made candles to see if they are ready to go out. If so, package them for shipping and send them on their way.

The Good:

• Candle making is simple once you get the hang of it.
• Supplies are inexpensive.
• Demand is high so return on investment is also high.
• Selling on the Internet makes turning a profit quick and easy.

The Bad:

• If you don’t already know how to make candles, learning this skill will take some trial and error practice.
• In warmer climates, extra care needs to be taken when shipping products to avoid heat damage.

Resources:

• National Candle Association
• Wikipedia on Candles

Technorati Tags: candle business, candle making business, candle making business plan, online candle business, soy candle business, soy candle making business

Business Overview:

If you love turning your own precious memories into fun and creative scrapbooks, you should consider starting a scrapbooking business. Do you love to artistically arrange photos and memorabilia from events? Have your friends told you they want your help with their scrapbooks? Are you interested in starting a scrapbooking business? If you answered yes to any of these questions, a scrapbook business might be perfect for you. In as few as 30 days, you can be the proud owner of a scrapbooking home business, making as much as $100 an hour creating scrapbooks for others. All you need to get started with this business idea are some scrapbooking supplies, a computer to keep track of your projects and finances, time and a little creativity to have a thriving home-based scrapbooking business. Even if you’ve never tried to make a scrapbook, you can easily start your own business and learn as you go. Soon you’ll be a scrapbook artist and be able to charge as much as $3,000 for a large-scale project like a wedding scrapbook. As a professional scrapbook artist, you can provide a great service to others who love the look of scrapbooks but don’t have the time to make them themselves. You could literally turn someone else’s memories into your dream home business in one month.

A day in the life of a scrapbooking business owner:

A typical day for a scrapbooking home business owner usually starts with a review of your current orders. Once you confirm that all projects are on schedule, you’ll need to devote some time to work on your current projects. If new projects need to be started, you will figure out what supplies will be needed and spend a little time shopping for these items. If any marketing for new projects needs to be done (flyers, phone calls, internet/classified ads, etc.), you may spend some time on that. Finally, you will periodically take time to review your finances to ensure you’re on track.

The Good:

• The startup costs for this business are very low.
• Demand for this service is high. Customers will come back repeatedly for the same service.
• Return on investment is extremely high since materials are inexpensive and you are able to charge a great deal for your time and expertise.

The Bad:

• Until you have some scrapbooking experience, the process can be time consuming.
• Building a solid client list can take some time.

Resources:

• International Scrapbooking Association
• Scrapbooking Warehouse
• Scrapbook.com

Technorati Tags: home based scrapbooking business, scrapbook business, scrapbooking business, scrapbooking home business, starting a scrapbooking business

Business Overview: If you are passionate about quilting, starting a quilt store business could be the fulfillment of your dreams. Most quilters are really enthusiastic about their hobby and are always looking for new stores to buy from. Not only do they continually need new supplies, but they also are looking for classes at stores that will teach them new skills so that they can move to the next level of quilting. Additionally, quilters often look to sell their beautiful, homemade quilts in local stores. If you’ve been looking for a great business idea and are wondering how to start a quilt store, you will need to know not only about quilting, but also about sound business practices. Attracting new customers is key to keeping the business on solid ground. You’ll be learning what manufacturers to order your supplies from, how to keep good inventory score, and what hours your store must be open in order to keep your customers happy. Many quilt storeowners find having their own store to be the most satisfying work they’ve ever done.

A day in the life of a quilt store business owner:

A typical day will start out with the quilt storeowner arriving early to open the store. She may take inventory before customers start to arrive and place orders for any supplies getting low. As the day progresses, she may have quilting circles taking place in the afternoon and offering a quilting course in the evening hours. After the store closes she will need to handle the financial side of the business, making bank deposits and keeping good records.

The Good:

• Owning a business that is based upon a hobby that you are passionate about is highly rewarding.
• Customers of a quilt store tend to be extremely loyal.
• This is a fairly recession-proof business. In difficult economic times people tend to stay home more and focus on their hobbies.

The Bad:

• Sound business and marketing practices are required for operating a storefront business. Having a passion for quilting is not enough.
• Quilting is a time consuming process and can be quite repetitive.

Resources:

• The National Quilting Association, Inc.
• International Quilt Association
• Quilting (Wikipedia)

Technorati Tags: how to start a quilt store, quilt store business