January 18th, 2020 | Updated on June 29th, 2022
Launching your own business is an exciting prospect. Starting a craft business can be even more so.
Doing something you love and making money in the process is an amazing combination! It’s likely if you have reached this point, that you have done your research and already know that there is a demand for your creations.
Here is a brief guide to starting a craft business in San Diego.
Where Will You Sell?
There are many online selling platforms, several of which are dedicated to crafts. Etsy is one of the most popular selling sites for crafters. Facebook can also be beneficial.
There are many craft groups filled with purchasers looking for handmade, and crafters looking for customers.
Making your presence known locally is a good idea. Many people who love handmade goods don’t use social media or prefer to see things before buying them.
Do some research as to whether your local area hosts any craft fairs or markets. Lane Field Park Market in downtown San Diego is primarily a street food market, but they have stalls available for crafters to rent.
It might be an idea popping down to have a look and see if it might be the ideal location to sell your crafts. Many established gift shops will allow crafters to rent a space in their premises for a monthly fee or will stock your goods if they receive a percentage of the sales price.
This means you can market your products locally without the burden of the high rental costs that commercial premises can bring.
Will You Need Additional Finance?
If you need additional finance to fund your business, many companies provide business loans in San Diego.
Whether you need funds for premises or machinery, you may be able to borrow some extra cash to make your dream a reality. Speak to a finance specialist to find out if you meet the required criteria.
Get Your Prices Right
If you haven’t sold anything before, you might be unsure of where to pitch your prices. You must get this part right from the outset.
Many crafters sell themselves short or don’t have the confidence to price their items at a realistic level.
Work out how much each item costs you to make and make sure that you take account of your time. If it takes 3 hours to create, decide how much your time is worth and add 3 hours onto the cost.
You wouldn’t work for $2 an hour anywhere else so don’t do it here either. There are craft pricing calculators available online if you prefer to use that method.
It is good to check what your competition is doing too. Many people craft and many people make similar items. Stand firm on your prices where possible but be competitive.
If you are selling the same quality of item as someone else but their prices are far lower, it’s fairly obvious which one a customer will buy.