Small Business Tax Center
Small Business Ideas, Grants &
Plans to Start & Run a Business:

Small Business Grants
CyberSchmooz
Network in Cyberschmooz Community Ask Questions Questions and Answers Share Tips Small Business Ideas List Your Business Business Advice from Idea Cafe Experts Coffee Talk with Experts Starting A Business Business Plan Biz Planning | Sample Plans Small Business Ideas Idea Name Your Biz Name Plan Your Biz Plan Financing $ Starting a Business Do It! Running your Business Marketing Tips Promotional Merchandise Marketing Tips Marketing | Sales | Customers Human Resources HR | Employees | Contractors Legal Forms & Tax Information Legal | Biz Forms Managing a Business Managing | Operations
Financing Resources Financing Your Business E Commerce & Webhosting eCommerce Take Out Info Trade Publications FREE Trade Publications Business Books Biz Books Your Own Business Small Business News Small Biz News Gen X Biz Gen X Biz Work at Home Work @ Home Business Information The Fridge - Biz Info on Ice Destress Send Awards Send Awards & Greetings Yoga At Your Desk Yoga @ Your Desk Fun Guide Guide to Find FUN Online About Idea Cafe Press Idea Cafe has received Idea Cafe in the News Idea Cafe's Kudos Kudos for Idea Cafe Advertise on Idea Cafe Advertise on Idea Cafe Privacy Policy Privacy Policy Contact Idea Cafe Contact Idea Cafe Link to Idea Cafe Link to/from Idea Cafe Join Idea Cafe
Search Idea Cafe Site Directory Site Map Online directory to business resources Biz Web Guide



Answer from our Guest Expert Liz Folger of Bizy Moms - page 3

Your Competition -- Who Are They?

We hate to admit it, but there's always someone else out there "doing that thing you do." It could be the same craft or something very similar to yours. Don't get down! Competition often brings out the best in your work. Check out your competition and see if you can see any special niches in the market.

  • Name your competitive crafters.
  • Do you know of other crafters who have started their biz and failed? If so, why did they fail?
  • How does your competition sell their crafts?
  • How much is your competition charging?
  • What are they doing right or wrong in customer relations?

Pricing -- What to Charge?

How to price your craft deserves some start-up attention, too. Crafter, Beth Fisher, shares her formula for pricing her handcrafted items.

Cost of materials (what you pay at wholesale) + Time (at minimum wage) = Cost of Item

Cost of Item x 10% Overhead = Wholesale Price

Wholesale Price x 30% Markup = Retail Price

Beth has found this the fairest way to price her items for her and her clients. Other crafters take the cost of materials and double it for the retail price. But it'll depend on how long it takes you to make your craft.

Are We Having Fun Yet?

Above all else, make sure crafting is something you truly enjoy doing. The more you like it, the longer you'll stick with it -- even if you aren't making a lot of dough at first.

Happy Crafting!

Liz Folger

Work-at-Home Mom Expert & Author of The Stay-at-Home Mom's Guide To Making Money

Extra Advice Resources

Arts and Crafts Careers by Elizabeth B. Gardner

The Crafts Business Answer Book & Resource Guide: Answers to Hundreds of Troublesome Questions About Starting, Marketing, and Managing a Home-Based Business by Barbara Brabec

Handmade for Profit : Hundreds of Secrets to Success in Selling Arts & Crafts by Barbara Brabec

Crafting for Dollars : Turn Your Hobby into Serious Cash by Sylvia Landman

Websites

Crafters.com

http://www.crafter.com/index4.htm

About.com

http://artsandcrafts.miningco.com/library/weekly/aa080697.htm

Page 1 - 2 - 3

Google      

Small Business Tax CenterIdea Cafe HomeSign UpBiz Grant CenterCyberSchmoozCoffee Talk with ExpertsPeople in Biz ProfilesStarting Your BizBiz PlanningRunning Your BizFREE Trade PublicationsMarketingFinancing Your BizHuman ResourcesLegal & Biz FormsManaging Your BizeCommerceYou and Your BizGen XWork@HomeThe FridgeDe-StressSend an AwardSend an eGreetingYoga @ Your DeskWeb GuideIdea Cafe in the NewsAbout Idea CafeAdvertise on Idea CafeContact UsPrivacy PolicySite MapSmall Biz News

Copyright 1995-2019, Idea Cafe Inc. Downloads are for personal use only, not for resale to others, and may not be reprinted in any form without written permission from Idea Cafe Inc.

DISCLAIMER: We hope whatever you find on this site is helpful, but be cautioned that it may not apply to your own situation, or be totally current at any given time. Idea Cafe Inc. and all of its current and past experts, sponsors, advertisers, agents, contractors and advisors disclaim all warranties with regard to anything found anywhere on this family of websites, quoted from, or sent from Idea Cafe. and its related sites, publications and companies. We also take no responsibility for comments published by others on these pages.

TRADEMARKS: The following are Registered Trademarks or Servicemarks of DevStart, Inc.: Idea Cafe®, Online Coffee Break®, The Small Business Gathering Place®, Take out Info®, Biz Bar & Grill®, Complaint-O-Meter®, A Fun Approach to Serious Business™, CyberSchmooz™, and BizCafe™.