If you love to knit and want to work from home, you may be in luck. Starting your own knitting business can be rewarding, both financially and personally. However, it's a big undertaking, so it's important to understand the process and the specific considerations that come with this kind of creative endeavor.
Getting Started With the Business Side
There's a lot of planning that goes into the process of starting your own business. Before you begin to think about the knitting aspect of things, make sure you cover the basics of home-based businesses, such as figuring out where you will do the work, writing a business plan, figuring out a plan for taxes, and securing any funding you need to get started.
There are also some considerations that apply specifically to arts and crafts businesses, and it makes sense to give some thought to these issues before you get too far in your planning. These include creating a brand identity and marketing your business. If you'll be doing most of your selling online, there are specific things to consider for that as well, such as web hosting and payments.
Tips for a Successful Knitting Business
Once you have the business side of things set up, you can focus on the parts of your business that are specific to knitting. Creating crafts to sell is different from doing knitting projects for yourself. The following tips can help.
Focus on Items You Can Create Quickly
According to ThoughtCo, the secret to succeeding with a knitting business is to keep the projects quick and simple. If you put a lot of time into large or complex items, you'll need to charge quite a bit more. However, making small things out of quality materials means less of your time going to each piece.
Choose Materials You're Proud Of
Specialized materials allow you to set your business apart, even if the items you're making are simple. When you're shopping for yarn, think organic cottons, natural dyes, or local wool. That way, a pair of basic mittens becomes a luxury gift.
Know Where You Will Sell
There are a number of places you can sell your knitting, and it makes sense to decide on where you will focus your attention. Consider the following:
- Craft shows - Art and craft shows are a great place to sell handmade knits, especially around the holidays. You'll need to invest in a booth and get in touch with local or regional shows in advance. You can find those by contacting local knitting organizations or searching on sites like Festivalnet.com.
- Local stores - Many towns and cities have shops that specialize in handmade local items. You can walk in and ask the proprietor about how selling works. Often, you'll be paying them a commission for offering your items, but it may be worth it if you can raise your prices to accommodate this.
- Online - One of the biggest markets for selling knitted items is online. Sites like Etsy specialize in handmade goods, and you can create your own storefront there. You can also try auction sites like eBay where you can market your goods to a large audience.
Understand Overhead
Every business has overhead, but a knitting business has some specific things to consider. In addition to basic supplies, you'll need to think about how you plan to package and ship your items, if needed. You'll need a stock of yarn to make sure you can continue to produce items in colors and materials that appeal to your buyers. You'll also need a computer to keep track of sales and manage your website if you have one.
Take the Leap
Ultimately, if you love knitting and have some good ideas for products you think will sell, you can take the leap and start a business with minimal financial investment. You will have to put in some time and really focus on making quick project people will love, but it's a great challenge for someone who enjoys creating.
