Turn your hobby into a business
By Antonia Chitty
If you have a hobby you love, why not make it earn its keep and contribute to the family income too. This is not a way to get rich quick but plenty of women, and a few men, find that they can boost the family budget while doing something they enjoy.
First, get feedback from people about your potential product. Find out how often they might buy it, and how much they would pay. Ask as many people as possible and write down what they say.
Work out how much your product will cost.
Factor in materials, equipment, and an hourly rate for your time. It is easy to under price crafts and handmade items, and you don’t want to find that you are selling lots, but making a loss.
Check the regulations. Ask trading standards what laws you might have to comply with. You may need to have your kitchen inspected if you are making food. Laws are stricter on items such as nightwear and products for children.
Get a quote for insurance: however small your business you will need public liability insurance in case someone suffers damage from one of your products.
Think about how you will reach out to enough people. Make a schedule of shows you might like to attend, find out the cost of a stall, and work out how many items you will need to make to have a good display. Look at setting up a website to allow you to sell your products 24-7.
Other ideas for crafty Businesses
- Jams and pickles
- Birthday cakes
- Catering for parties
- Frozen home cooked meals
- Ethnic specialities
Knitting or sewing:
- Soft toys or dolls clothes
- Jewellery making
- Selling craft supplies
- Soap making
- Candle making
- Woodwork or Leatherwork
- Model making
- Tie-dyeing and batik