When running a handmade business, you may have a variety of products and a wide range of prices. Simply dividing overhead expenses evenly among the products you make in a month, or the number of products you sell, can make some items overpriced. Here’s how to take your overhead costs and distribute them among your…
If you’re starting a business to sell handmade scrunchies, it’s important to price them right. Not only do you need to ensure they’re a price your target market is willing to pay, but you also must profit from your sales…or you don’t have a business. I’m not a fan of the popular pricing strategy: Production…
Although you can create a wide range of scrunchie options and make sales, creating scrunchie collections will: Boost sales Increase the perceived value of your scrunchies Increase your units per transaction Streamline your production and increase your profits Make your business appear more professional and potentially attract wholesale orders Collections will help tell a story,…
Each year I create a list of crafts you can make and sell that are seeing an increase in consumer demand (you can check that out here). I also look over the previous year’s trend list and see if those trends are still growing, are plateauing or declining in popularity. To create these lists, I…
A lot of trend lists simply share common themes they see on fashion runways. But those “trends” don’t always translate to consumers, and/or sales. To create my trend lists each year I use tools that analyze search volumes and traffic to website and product listings to determine exactly which products are seeing an increase in…
Valentine’s Day is a holiday you can work with to give your craft business’s sales a boost in the first quarter of the year. This article shares tips for marketing your products, as well as product ideas you can sell at craft shows and online, and keywords you may want to use online to drive…
Your business’s audience is the group of people you’re creating products for. With the endless possibilities of products you could make and people you could market and sell to, your audience must be more specific than “women who like jewelry”, “people who need art” or “those who like to support local and handmade”. A business’s audience is broken down…
You don’t have to wait for a new year to hit the refresh button on your business; you can turn things around at any point. The only requirement before jumping into change is looking back and reviewing what has brought you to where you are now; especially if you want to improve results. Let’s use…
It sounds contradictory, but the purpose of a loss leader is to make your business more money. In general, profit should be built into every product’s price. But in some cases, it may be beneficial for your business to NOT profit from a sale. This article explains what a loss leader strategy is, how it…
For many businesses, the last quarter of the year is the highest revenue generating quarter. Consumers are looking for deals, items they want to put on their Christmas wish list, and shopping for gifts to give. Make sure your business is prepared for those shoppers by taking the following 7 steps. 1 – Set…