by Caroline Horton

Created on: April 30, 2009   Last Updated: May 01, 2009

Turning Passion into Cash

AH, HA! You found it, your passion! Alleluia! You have listened to Oprah; you know that all you have to do is find that "thing," your passion, and with some sleepless nights, hard work and determination, you will be wildly successful in the way that you define success. You know, making tons of money, being deliriously happy and having a picture perfect family to go along with it! So, like a fire under your seat, you head to every craft store you can find; you buy every tool of the trade; you diligently work your passion for days, staying up half the night, skipping the laundry again today that you really should have done the day before; you hone your skills, each creation better than the last. One day you stop to take a breath, almost sick of it all, and you realize how much inventory you have. Your new found passion is now weighing on your checkbook and on your husband's patience. How do you find a place to sell some of your passion, and make a little money to start supporting your business? Do you have an Open House or Trunk Show in your home? Do you hit the craft show circuit? What about retail? So you put together a marketing pitch for all of your favorite shops or are brave enough to open a boutique of your every own. What about eBay or a website of your own? There are a few simple steps to take before jumping in with both feet:

1. Research your market. Take a serious and hard look at what you want to make and sell and to whom. Consider where you will sell your items. Talk to some other crafters in your market; most crafters are willing to help you with your research and will answer all kinds of questions about getting started. Don't expect them to tell you everything though, they have to make a living too.

2. Budget, budget, budget! Decide how much you can spend on creating your products, on advertising and marketing, on printing, on booth/show fees, on rent or shopping bags and anything else that you might need. You must plan out how and where you are going to sell before you plan your budget; filling orders from home would require different tools than selling at a craft show.

3. Find consistent, reliable wholesale sources for the components of your craft. Many crafters pay retail, believing that when they start making some money they will be able to purchase large quantities at wholesale rates. Most often, minimum orders for wholesale pricing are reasonable. With some good planning, you will get all the components that you need,

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