According to Cricut (the crafting machine company in Salt Lake City, UT), close to 75 percent of households in the U.S. have someone who does crafting. This is why they make a variety of machines dedicated to helping crafters.
If you are looking for an area to expand your business (and bring in another revenue stream), you might want to look at ways that you can tap that market. I guarantee that they are still purchasing. (In fact, I expect that we will see an even greater resurgence of crafting due to the recession.)
What do I mean? Well, if you are a creative whose business is decorating cakes, can you expand your business to either teach or supply people who want to do their own decorating (and aren’t yet in the market for your high-end cakes)?
Or, perhaps, you are a leather worker. You have tons of scraps from your business. How about looking at those and finding a small projects that can readily be made from them? Hint… don’t make the projects, yourself. Offer them to the home crafters (especially youngsters, summer camps, etc.). It won’t replace your income from your regular work, but it both gets rid of the small scrap, brings in an extra revenue stream (that is not based on your time and labor), and develops a wider market.
Remember, when people get in over their heads or want something that is beyond their skill or desire to attempt, they will be thinking of you.
These are just examples. The whole range of creative businesses can tap into the crafter market and trend. If you aren’t making enough with your current business, give this a look. Some people have ended up making it their primary business that funds their other creative endeavors. You might be the next.
Your turn. Have you already jumped into helping the crafter market? Tell us what you are doing and how it is working out for you.
Tags: addtional revenue stream, business ideas, crafters, creative business, expand your business
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