Discovering the hidden cash in your crafts
Is selling your handmade work providing you with enough income or would you like to find additional income streams without having to produce and sell more pieces? If you’re like other crafts people I know, you probably would love to find some hidden cash to provide what my friend Barbara Winter calls “multiple profit centers”.
Regardless of what type of crafts you make, there’s easy profit hiding right under your nose (or in your studio.) These methods apply to almost any creative art form but let’s use jewelry as an example since many of you create hand made jewelry. You probably experience busy seasons in your business like Christmas, Valentines Day and Mother’s Day when you can barely keep up with demand for your jewelry. But what about summer when, unless you are in a tourist area, things probably slow down? Do you feel a cash crunch come July? How would you like to have a steady stream of income flowing in year round? It’s not only possible but super do-able.
Let’s say you do beadwork. What other ways can you turn your craft into cash besides selling your jewelry? Here are a few examples:
-Write down and diagram instructions for a piece or technique that’s unique to you or has been a hot-seller.
-Video-tape yourself creating the piece.
-Make up kits with all the supplies and components to make that piece.
-Bundle the instructions, video and supplies into a kit that you sell on your website. You might even create a kit-of-the-month club. Members can sign up to receive a new design with instructions and supplies each month.
-Ask your friends to host a make-and-take party where rather than selling your jewelry, attendees can make a piece of jewelry. They purchase the supplies and instructions from you. The party can also be a fundraiser for a charity, church or school group. Of course take the opportunity to promote your “membership” club and let the attendees know that you are available to do parties for them too.
-Have VIP days for someone who might want to have one-to-one time with you for private tutorials.
These are just a few examples of how you can leverage your knowledge to create additional income from your art. Check the blog often for more tips on finding the hidden cash in your craft.