A craft business sells customized, high-quality offerings catering to niche markets. The industry relies on locally sourced supplies and community support.
Business Organization and Set-Up
An LLC is a type of business organization that offers limited liability to its owners, which can be valuable to protect personal assets.
First, decide your specialty craft that you enjoy and excel at. Then, set up a home workspace, from a living room table to a dedicated studio, where you can work without interruptions.
Marketing and Costs
With the rise of social media, reaching potential customers and promoting your business is easier than ever. If you’re ready to start your Craft Business, now is the time.
Startup costs for a craft business range from $1,000 to $6,500, with the need for supplies and equipment to make your crafts. Setting up and dissolving a Craft business is relatively inexpensive. In a Limited Liability Company (LLC), an entrepreneur is responsible only up to the amount of their founding capital.
Industry Overview
What industry does crafting fall under?
The craft industry encompasses goods handmade by artisans in various trades such as woodworking, jewelry making, leatherworking, and textiles. Many of these businesses manufacture and merchandise their goods, often operating independently.