Profitable Craft Business Ideas: Simple Crafts to Make and Sell | 2023 Guide
Feeling a bit creative these days? If you have ever been to craft fairs, you will understand the wonders of seeing an array of trinkets and crafts on display. It is an exciting experience for an onlooker. How much more for the makers? Here is how you can start your own profitable craft business.
Personalized Crafts are Trending Today
Like any other creator, it is natural to feel a sense of accomplishment when one appreciates and admires your work.
Most crafters find joy in people showing their admiration through patronizing their products. With the current shopping avenues today, you can easily start a profitable craft business and sell online.
The craft industry is also very diverse. You will not run out of possibilities and ideas on what profitable crafts to sell. In fact, you can easily find comments on the internet about people wanting to buy certain items that aren’t readily available.
Nonetheless, it is important you understand the kind of crafts you may want to sell in the future first.
Categories of Crafts for your Profitable Craft Business
Before anything else, you need to understand this is not a comprehensive list. There are many branching types of crafts out there; these are just generalizations.
Some of the popular categories would be ceramic crafts, textile crafts, leatherwork, houseware, wood crafts, and even making your own candles. With modern technology, you will also see a good selection of paper crafts, resin art, and stone and metal works.
The following descriptions below give a short introduction to the most popular types. We hope this helps you determine what items you make a profit from.
Profitable Handmade Crafts
Possibly the most popular category of crafts is handmade – mainly because old-age crafts were all handmade.
The idea of an item made by hand signifies a high level of personalization and uniqueness. These are traits collectors like very much.
Handmade items can be anything you can create by hand. You can even sell handmade clothing. You can also sell baskets made from indigenous materials.
Famous ideas would be hand-painted apparel, handmade watches, carved soaps and candles, and many others.
Another one of the most profitable craft types you can make is paper creations. The first thing that should come to mind here is wedding invitations. You will find a lot of types from machine-cut, folded, painted, and many others.
You don’t have to worry about supply and storage when you sell handmade paper items. They are not perishable so no need to replace stocks.
They also don’t take up much space depending on the kind of craft you make to sell to make money. It’s a profitable business since the paper is fairly affordable and there are many methods to make them look better too.
Profitable Jewelry Crafts
Another profitable craft business is jewelry making. It’s one of the easiest craft ideas to materialize because there are so many sources of materials you can find physically and online.
The best way to come up with profitable crafts to make is to focus on a particular concept. This way you know how to market your work and come up with a cohesive collection.
Some popular ideas in the past include handmade beads with clay, bespoke metal jewelry made through molds, clay-shaped accessories, etc. All you need is to find a place to sell for a profit.
A craft becoming very popular in the interior design industry uses resin. It can be used for many types of art and sold for high prices. You can preserve flowers and foliage in a resin frame.
Some creators find joy in combining natural materials like wood and plants to make large objects like table tops and floor tiles.
Resin is a versatile hardening agent that can be shaped into anything as long as you have the appropriate mold. You can sell the best kinds of picture frames, keychains, tables, chairs, and anything that comes to mind.
Profitable Fabric Crafts
If you want to sell your crafts online, a smart concept would be fabric. As you know, fashion has become a necessity for people.
It’s not the kind where people get compelled to buy branded items. It’s more like we all have the innate intention of expressing our individuality in everything we own. Thus, it’s natural some people get attracted to fabric crafts depending on their personal style.
There are many possible things to make and sell using fabric. A business you can start right away would be tie-dye apparel.
All you need is to purchase plain clothes and improve their design using dye. If you are good at painting, you can try handpainted scarves, bags, shoes, etc. Artistic representations are always appreciated in fashion.
Profitable Wood Crafts
Wood decor and trinkets are more profitable than others mainly due to demand. You can make at home anything as long as you have the right tools and talent.
There are a lot of enthusiasts who are willing to pay a good price for expertly carved wooden ornaments and furniture. Others just like to have a more personalized wooden accent on their homes like in their doors and windows.
Profitable Candle Making
The candle-making business is a lucrative, rewarding venture that can be quite profitable for entrepreneurs. Whether you are looking to create beautiful handmade candles for sale in stores or your own online store, there are many ways to make money from candle making.
From creating scented and unscented candles to selling wax melts, tarts, and votives, the possibilities are endless when it comes to starting a profitable candle-making business.
Candle makers have the potential to earn good profits by providing products at reasonable prices. With just a few supplies such as wax, wicks, fragrance oils, and dyes you can begin crafting unique creations that draw customers back time and time again.
Additionally, with an eye-catching label design featuring your brand logo, you can take your product line above and beyond what other competitors may offer.
Handy Tips to Sell Crafts Online
If you are thinking of making crafts to sell and make money, here are a few tips you will find helpful.
- Think of a concept or a specific type of business. This will help you think of the kinds of crafts to sell to make a good profit.
- Business owners always find the first stages hard. Do not give up easily. It is natural to encounter resistance at the beginning. If your items aren’t selling in the first few months, just wait and be consistent with marketing.
- Think of ideas that you personally find fun to make. This should be how you start this business venture. If you don’t love what you are doing, you will only find the entire project a chore and lose motivation faster.
- Don’t be afraid to make some extra money with another job. You don’t have to go all in from the start. Make sure you always have a fallback in case you are still not earning from your craft business.
How to Come Up with a Foolproof Profitable Craft Business Idea
People are willing to pay for crafts that incite their interest. Thus, your planning stage should be solely focused on coming up with ideas that people will like and you can create masterfully. Any type of business starts with a concept that convinces anyone it’s going to work.
Once you have a concept, make sure to think about funding, time management, and contingency plans. Where are you getting the funds to buy the materials? How much time can you devote to your business? Do you have the means to market and sell?
Any business requires logistics. If you sell your products online, you need to think about packaging. When you make a craft, you also have to think of where you can get supplies consistently.
Are you able to sell items? If not, you might need someone to sell and market for you. So manpower is also a consideration.
Crafts to Make and Sell in a Craft Show
A great way to make your great business known to the public is by joining a craft show. While not all enthusiasts actually attend these events, you will still find a good number of people.
If you sell on Etsy, most of the people around are also craft makers. In public shows, you will find people who are just genuinely looking to buy good creations.
Your priority for this type of event is to make beautiful items unless your theme is dark and gruesome. You also need to make sure you can set-up all your tools in the area.
For example, if you have a photography business you will need a booth to take photos in or at least a green wall.
For a soap-making business, you might meet clients who want to mix and match ingredients. You can try to provide this by setting up a mixing corner.
Thus, apart from beauty, you also need proper logistics and healthy interaction with potential clients.
Calculating the Ideal Profit Margin for your Profitable Craft Business
Even an easy-to-start business requires some financial planning. When you sell for money, it is inevitable to provide initial funding first. This is how you make sure you make it even if sales are low.
Let us take an online selling arts and crafts business. Let’s say you know what you want to sell.
The first step is to determine the initial expenses you will incur.
- Since you make and sell from home, you don’t pay for the rental. What you need to take into account is the payment for your internet connection. While some don’t bother with this, you have to be thorough and include anything that is essential to your business. If you don’t have internet, you cannot sell or market.
- Next, you calculate the material cost of the profitable crafts you can make. If your product is pretty easy to make, you can make the most money. Make sure to include the cost of the tools too. Think scissors, brushes, etc.
- When you sell the best crafts, you also need good packaging. This also costs money. Take that expense into account.
- Learn how to make your crafts efficiently to manage your resources wisely. Put a price for an hour of your efforts. Measure the time it takes to make one product.
Once you add up all the expenses listed above, you will have an overall estimate of the initial capital you need. Follow these steps to calculate the unit prices.
- Crafts are in high demand for the right buyer. Thus, you need to make sure you add the right markup. On top of your initial expense, add a 5% charge for contingencies. Think of broken tool replacement and resupply.
- On top of this total, add another 10% as a longevity fund. This is basically the funding you will rely on to keep your business afloat for a few months at least without earning anything. If your business goes up from the start, the better. If not, at least you’re covered for a while.
- Thinking of an easy craft to make and can sell at high prices can be tricky. If you think you are capable of creating them, then add an appropriate profit margin you like. Since you have covered all the expenses and contingencies with the previous total, you can determine this add-on as your ideal profit. Think wisely.
In conclusion, starting a craft business can be a rewarding and profitable endeavor. With the right planning, business know-how, and creativity, anyone with an entrepreneurial spirit can turn their craft hobby into a thriving business.
There are countless ideas from which to choose, from personalized paper products to custom jewelry. Whichever idea is chosen, it is important to research the industry and market thoroughly before investing any time or money into launching a new venture.