Can your craft support a family?

January 7, 2010 at 9:07 am 1 comment

That was a title of an article in The Crafts Report, written by Patrice Lewis  awhile back. In her article she provided insight into how one may make a living doing crafts.  One of the statistics she provided was that there are about 115,000 crafts people in the United States with 22% of them are entirely supported by their crafts.  I was surprised at the numbers – I thought there were  more crafts people in business and only 22% making a small living at it seems rather low.

 She describes being successful as having $2,000 a month after business expenses, but admits not many would be able to live on that and suggest that you “don’t give up your day job” – especially if it provides a regular income and health benefits.

 The author talks about finding a niche – especially if you are making something that everyone else is doing, as well as  how long it takes to make a piece and  pricing strategies  – for example if it costs you in labor and materials $80 to make an item, can you sell it for that?  And what about costs for marketing, sales, legal, accounting, etc?  What if you want to wholesale – that means your $80 product would have to retail for at least $160.

 I found the article (actually two articles) thought provoking and wonder how those of you who are in the business of crafting are in it to make a living or content with a modest financial benefit but find greater satisfaction with the crafting itself?

 Ms. Lewis’ articles can be found on The Crafts Report here.  The magazine is a monthly magazine for craft professionals and I’ve found some interesting articles in it. 

Let me know what you think!

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1 Comment Add your own

  • 1. Jessica  |  January 9, 2010 at 3:36 am

    Thanks for bringing this article to my attention. I also found it thought provoking and the numbers shocking with as many scrapbooking/stamp/craft/etc stores out there…
    I personally started getting into the biz as a hobby demonstrator with Stampin’ Up!. One day I hope to have a business that will bring some decent income, but don’t want it to hinder my love for the craft itself. I’m very passionate about stamping and would hate to lose that. So to answer your question, I find a greater satifsfaction with the crafting. A very great satisfaction.

    Thanks again for sharing this with me….

    Great Blog by the way!!!

    Reply

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