Ep. 12 – How to Decide What to Sell for a Craft Business

[00:00:00] Kam: As creative people, we tend to have this gift of seeing inspiration in so many things. We enjoy trying new hobbies or skills. As a creative, this is probably what brought you to this point. Hello creatives and walk them into episode 12 of the maker-space podcast, where we are providing tools for crafters in their journey to build an online business.

[00:00:22] Kam: Now, before I get into this episode, I wanted to update you on an upcoming event. Pretty excited about this one, the virtual street market we’ll be hosting a bootcamp on building an online craft business in February. On the first, second and third, we will be showing you the ins and outs of running an online craft business. So be sure to sign up for that@thevirtualstreetmarket.com and watch your email for more information.

[00:00:51] Kam: Now as a business owner, you have the task of determining what is going to sell. Not just what you enjoy making. If you’re going to put the time and effort into owning and operating this business, please, please, please do the same with your products. Don’t just throw spaghetti at the wall and hope it sticks. I mean, unless you have found some artistic market of selling spaghetti on a canvas and something like that in which case go to town.

[00:01:20] Kam: But for the rest of us, we need a little bit more thought. So let’s get into how to decide what to sell for a craft business. Now I have six different tips that I would like to share. And the first one is research the market.

[00:01:39] Kam: Identify what is popular and in demand in order to decide which items to focus on. Now if you Google craft businesses for 2023, like I did before I recorded this episode. I noticed that some of the actual lists are the same as they were in 2022. So be aware of that. And maybe check on Shopify has a good list some bloggers that you follow. For a little bit more authenticity on those lists.

[00:02:12] Kam: some of the things that I was finding were actually kind of funny, like basket weaving. I don’t really think that is pertaining to 2023. But jewelry is, and probably always will be. But I will Liz link the list that I came up with and liked in the website.

[00:02:34] Kam: So then number two, brainstorm, brainstorm a list of items that you enjoy, but that you can make and create that will fit within your skillset. Things you’ve made in the past. Have you taken a class on something and enjoyed that class or are there any classes available that you would like to take? Do you N no enough of a craft that you could teach a class. This could actually be a product that you sell.

[00:03:03] Kam: Are the supplies available for what you want to create? Can you make multiples of an item and still be excited about making it? One of the things that. Takes a lot of time and efforts is doing personalized items or one of a kind items. And which is fine. If that’s what you want to do, just be mindful of how much time it will take to fulfill orders.

[00:03:31] Kam: And you also need to price those accordingly. Which leads me to number three. Consider your pricing when choosing products, make sure your prices are competitive. While it’s still leaving room for you to have a good profit margin. So that your business remains profitable over time, not just the feast or famine.

[00:03:55] Kam: Can you find supplies that you need at a wholesale price? Are you including your time to create the product as well as buying the supplies and shipping and all of the time it takes, if you do any. In person craft shows. You need to take that into consideration as well. So be sure you are not undercutting yourself.

[00:04:16] Kam: Which sometimes crafters do have a tendency to do. Now I will say. I do follow a gal on Instagram. She makes cute, cute things. And I was a little surprised. I’ll be honest by the prices that she charges on Etsy, but it is something that I can make. And I know how I have the skills to make it. And she sold out. She restocked her Etsy shop and sold out within hours. So the customer base is there. You just have to find those people.

[00:04:52] Kam: There will always be others who try to undercut you. But remember your value. Number four. Determine a target customer base. What is the advertising plan going to be for the customers to find you. Who are those customers? Uh, where are they most likely going to buy your product? Are they going to be online? Are they going to be at the virtual craft shows? Are they going to be the in-person craft shows?

[00:05:22] Kam: You also need to take this into consideration. When you think about transporting your product. I know a husband and wife team. And they created a pretty decent business. Decorating yard art and specifically boulders rocks. And they are so fun. They’re so cute to have in your yard. But this couple has to haul those in a trailer. And they have to hold those everywhere and that they can’t put them online. Because who’s going to want to pay for the shipping of a bolder.

[00:05:59] Kam: So take into consideration what you’re making and whether or not you are going to need to transport it and how that would happen. Now number five. Utilize feedback from customers.

[00:06:15] Kam: Before deciding whether or not to continue selling particular items. Get the feedback from your customers. Or ask potential customers. Uh, to provide you input with items that they may or may not be interested in. And ask them why. And I would even suggest asking other creatives since we do have a tendency to be.

[00:06:38] Kam: Honest in a kind way. Most of the other creatives that I’m in communities with. We just want each other to succeed. We don’t want to tear each other down and we know how personal. Art and crafts can be. And putting your skillset out there. So we have a tendency to be a little bit more kind. But if you’re asking for honesty, they will tell you that as well.

[00:07:03] Kam: And once everybody’s succeeds, it just looks good for everyone. Now number six. I would consider your location. Where are you in the world and what is your local customer base? If that is what you’re going to market to. Some of you are in metropolitan areas and you can find your buyers locally. And that’s awesome.

[00:07:26] Kam: And others of us are either too remote or live in an area where our skill set is more common. I personally am a seamstress. I was taught by my mom. She was taught by her mom. And so a lot of people in my area and around me, Either they can do what I can do or they know somebody who can, and so their willingness to pay what my products are worth as a little bit smaller, like the.

[00:07:54] Kam: The gal that I follow on Instagram. I’m not willing to pay what she asks for her items, because I know what. What that I can just go do it for a lot cheaper. But that also takes my time, my effort, my product, my supplies. So just make sure that wherever you are, if you’re going to be selling locally,

[00:08:17] Kam: If the market is saturated or not, that’s one thing to take into consideration and the benefit of being online, wherever you are. I know that I can market my product next to the gal marketing hers on Instagram. And we will have different customers, but we will both sell our products. So that’s just a few ideas on how to decide what to sell in your craft business, and also remembered that you’re not stuck with just one thing.

[00:08:51] Kam: I would, however, say, start with one thing, do it really well. Make your niche known. And that way, if you do that more people will be willing to try. When you do something different, when you switch to marketing something different. There’ll be more on board with you to do that. So you guys thank you for joining me on this episode of the maker space. now go light up your world creatives.