In My Studio: How to Start Your Own Small Craft Business

When I first started my business So Handmade at the beginning of 2012 I was completely in the dark as to how to go about it. After much research and frustration I finally got it up and running. I realized how wonderful it would have been at the time to have a check list of all the steps involved to follow. So in order to save the same frustrations and endless research this is how I went about it, I hope it helps crafts people like myself on the ladder to starting new and successful businesses:

1. Brainstorm some name ideas.

2. If you are planning on creating your own website it's a good idea at this point to look online at Go Daddy or other IP address providers to see if any of the names you like for your business have a corresponding IP address that is available and affordable. I believe if you want your own website address it's best for continuity and ease for people to find you to have an IP address that is as similar as possible to your business name.

3. Decide on the name and buy the IP address. At this stage for a small amount of money you can also add on your own new business e-mail address which is great to keep your business and private e-mail addresses apart.

4. Go to the local county clerks office and register your business. There might be a form to fill out before hand so check their website. You will have a pay a small fee to register, approx $25

5. Register for an EIN (employer ID number) online at www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/How-to-Apply-for-an-EIN

6. Open a bank account, shop around to get the lowest fees possible. I believe that having your personal and business bank accounts separate is much easier for book keeping purposes.

7. Design a logo

8. Take photos of your products and have prototypes ready to show potential retailers.

9. Get business cards printed remember to include your e-mail address, website, etsy shop address, phone number and even your facebook page address.

10. Develop a template for a letterhead/ invoices etc

11. If you registered your own website in step 2 now is the time to design your website. The IP provider usually includes a website builder program where you can easily use their templates and drop in your own photos and blurb.

12. Open a facebook page for your new business and invite all your friend to 'like' you. Try and keep this regularly updated with new products, craft fairs you are participating in and other news from your business

13. Start your own Etsy shop if you want to begin to sell to customers around the country and internationally

14. Investigate local craft fairs and apply to be a vendor

15. If you plan on doing craft fairs or selling direct to the public register online to collect sales tax: www.tax.ny.gov/bus/st/stmp.htm (if you are in NY state). You have to begin by filing quarterly but they will assess your payments and you may be able to file annually in the future.

16. Visit local stores that might be interested in stocking your merchandise.

17. Sign up for Outright to keep track of your income/ expenditure, this is a free book keeping website which helps to keep track of all your accounts and what's coming in and what's going out.

18. Remember to keep good records of your sales and expenditure for tax purposes. If you are working from home you can claim for utilities and also any childcare expenses.

"Do what you love in the service of people who love what you do" Steve Farber

Good Luck and Good Making!

by Sarah Omura, SO Handmade

www.etsy.com/shop/SOhandmade1

In My Studio: Money Saving Tips

When managing your own small craft business you need every penny to be able to turn a profit. There is no better feeling than when you find a 50% off coupon on some essential supplies or snagging the perfect table for your craft fair display at a yard sale for a couple of bucks.

Here are some money saving tips that I use:

1.    Make your own labels; I have started making my own fabric labels which I sew onto all of my products. I bought the twill in bulk and then printed my logo onto transparent iron on sheets.

2.    Re-use and repurpose as much as possible. I clean out all our old yogurt and apple sauce containers to use for mixing paint.

3.    Use coupons when buying supplies, look online for the store you are going to and print out their latest coupons.

4.    Buy bulk where ever possible.

5.    Buy quality materials and equipment,  you will save in the long term as your product will look more expensive and you won't keep having to replace worn out or broken tools.

6.    Organize your work space properly and keep an inventory so you aren't duplicating supplies.

7.    If possible think about sharing craft fair space with a colleague to keep the entrance fees to a minimum.

8.    Negotiate fees with your consignors so you get the best deal.

9.    Use all of your scraps; greetings cards and Christmas decorations are a great way to use them all up.

10.  Open a no fee bank account.

11.  Make use of yard sales and thrift stores for buying display furniture for your craft fair stand. It's amazing what a lick of paint can do. I bought 4 tablecloths at a yard sale last summer for a couple of dollars and sewed them all together to fit my stand table exactly. Not only stunning but very cheap.

12.  When you are first starting out see if you can borrow tables, tents and other stand furniture. Once your business has taken off you can start investing in buying your own.

13.  If you work from a studio at home remember to keep records of all your childcare and utility bills because come tax time you can claim tax relief on these.

"A penny saved is a penny earned." Benjamin Franklin

Good luck and good making!

by Sarah Omura, SO Handmade 

          www.etsy.com/shop/SOhandmade1