Have you been dreaming of a knitting business?
For most, knitting is a hobby. But wouldn’t it be more exciting to turn your passion into a profitable craft business? While starting a knitting business is a step towards becoming financially independent, it’s a way for some to express their love for art. If you are a legitimate knitting enthusiast, you would understand that yarn is your canvas, and your stitches are the designs you draw.
Though starting a business with something that you like and are passionate about gets you elated, keep in mind that there will always be challenges in the beginning. Unless you are a famous artist, expect that you don’t earn as much in the initial period of the business, but you should always keep trying.
Besides your objective to make a profit, think about these tips as inspiration in starting your knitting business:
Tips for Starting a Knitting Business
Find a Reliable Wholesale Suppliers of Yarns
The quality of your knitted products is affected by the quality of raw materials you use. However, this doesn’t mean that you should go for the most expensive yarns you find in the market to ensure sales.
As much as you can, make a list of reliable yarn suppliers within your area. Dealing with long-distance suppliers means longer delivery time and additional freight costs. Make sure that they can provide the number of orders you need within your required timeline. Moreover, quality should be guaranteed at reasonable prices.
If you’re planning to shop for sugar bush yarn for your knitting business or hobby, you might want to check out Darn Yarn Canada. They are a reputable yarn supplier offering a wide selection of yarns perfect for your masterpieces. Once your order is confirmed, it will be delivered to your door right away! If you also want to try unique and top-quality materials, see Emily’s yarns. You can see here some of their other products on their website.
Design Unique and Valuable Knitted Products
Knitting is not just joining loops with your needles. You are making a masterpiece that other people can use and appreciate. For potential customers to buy your products, create unique designs because it’s what makes you set apart from the others. You can try vintage and classic designs, as well as traditional designs that people are into these days.
List Down your Target Audience and Decide How you Want to Market them
Make a list of your targeted audience: women, men, children, or teenagers. For instance, if you plan to focus on creating scarves, you can sell them to all ages, men, and women. However, though people can wear them in summer, they are usually purchased during the cold season. Or if you believe you can create more bags, then it’s most likely that your potential customers are women and teenage girls.
Moreover, decide where you would like to sell your crafts. You can sell them online as well as offline. Etsy, eBay, or Amazon are good options online, while exhibitions and craft fairs are where many artists sell their products offline. You can sell them offline first and observe your customers’ reactions.
Get a balance of Quality and Cost
As a startup, you don’t expect to sell your products quickly. That’s why it’s always best to cut the cost of your materials, especially if you made a loan. Get a balance of expenses and quality so that your gain will mostly go to your pocket. Start with small items such as hats, scarves, pouches, etc. On top of this, produce a small number of items first, then gradually increase as orders grow.
Compare your Price from Other Sellers
Compare your price with other sellers who sell the same goods. If you’re charging much less, maybe consider increasing your price. But if you’re charging over the odds, find ways to cut the cost, like cutting the cost of your materials. Remember that customers always look for cheaper sellers. As you are getting established, you can go a little more upscale.