If you want to start your own Internet business, one particular market that’s really interesting is crafts. Starting a web based craft business isn’t difficult but you must first be able to source unique craft that people are willing to purchase.
People are always on the lookout for unique items for various purposes. Unique items like craft make great gifts as well as wonderful home decor. For these reasons, starting a web based craft business could be a very profitable venture.
In this post we will take a look at a few types of craft that are currently popular, their markets and other aspects that merchants should be aware of.
It’s always good to start your own home business with a bit of research on what you intend to sell. You need to look at your target market, competitor pricing, niche competition and inventory supply, among other things.
When starting a web based craft business, you have to look at a few factors. The first is the types of craft that are in demand. Not surprisingly, ladies handcrafted jewelery is very popular. Some are made from seashells, swarovski crystals, beads and a variety of other material. They usually come in the shape of earrings, necklaces and bracelets.
Another popular handmade item is quilts. Quilts come in various sizes and designs and can fetch prices in excess of US$1000. Of course there are more affordable ones which cost a mere $US100.
Native American items are also quite popular and fetch quite a good price on the Internet. So popular are these items that some of them are no longer genuine, as revealed by the Made In China labels attached. Suffice to say, only the genuine items can draw good prices.
Craft from Asia and Oceania are popular in both the US and Europe. Items like boomerangs and didgeridoos from Australia are extremely popular among collectors and also decorators. However, the market for these items is small. Nonetheless, the margins are higher because these items are rare. Smaller crafts like handmade jewelry have broader appeal. The profit margin per item is small so merchants usually sell them in sets – a pair of earrings with matching necklace and bracelet, for instance.
Some of these items can be quite costly and it helps if and when merchants attempt to enlighten potential customers on the actual value of these items. A lengthy description may not be the best way to accomplish this. We suggest short videos that capture the skill and effort it takes to make an intricate quilt for example. Each video need only be 30 to 40 seconds long. And you would only need one to cover each category as opposed to one video per product.
The problem with handmade products is that they take time to produce. Some can be made faster than others. Merchants need to be able to foresee demand and balance sales and promotions carefully against the available supply. Naturally, the items that are in demand but are harder to supply will likely cost more but not so much more that it discourages customers from buying.
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