A craft business sells handmade or customized products, often catering to niche markets. These businesses offer unique, personalized, high-quality goods that stand out from mass-produced alternatives. Crafts encompass diverse artistic disciplines like woodworking, jewelry, leatherworking, textiles, and more. With technology like laser cutting and engraving, artisans can create intricate designs and personal touches.
Inventory and Sales Models
Most craft businesses are service companies, not holding inventory. If they retain purchases, the amount is small. Retail craft businesses like galleries, stores, or boutiques purchase goods from artisans and sell to consumers. Some craft businesses are both manufacturers and merchandisers.
Starting a Home-Based Craft Business
Many business types can be home-based, including craft hobbies. First, decide your specialty craft. Choose one you enjoy and excel at. Next, set up a home workspace, from a living room table to a dedicated studio. Have an interruption-free area for your business.
Profitable Craft Business Ideas
- DIY jewelry making
- Personalized gifts
- Customized apparel
- Handcrafted home décor
- Boutique baking
- Artisan crafted goods
Leverage sites like Etsy and eBay to expand your customer reach.