Everthing You Need to Know To Start an Arts / Crafts Business
By Maire Loughran, About.com Guide to Arts / Crafts Business
Looking to become your own boss by starting an arts and crafts business? As you get started, it's important to consider all the basics from making sure there is a market for your craft to knowing what supplies and equipment you'll need.
- Forms of Business Ownership
- Business Plans
- Different Types of Arts/Crafts Businesses
- Establishing Your Arts/Crafts Business
Forms of Business Ownership
Each type of business entity has advantages and disadvantages. When choosing a form of business entity, compare the tax, liability and management impacts of a sole proprietorship, corporation or flow-through before you make your decision. Every choice and necessary business action you take will vary based upon the type of business entity you select.
- Limited Liability Company
- Comparison of the Three Different Types of Business Entities
- Considering Limited Liability When Selecting a Business Entity
Business Plans
A well-thought out business plan is your arts / crafts business roadmap to success. You'll need a business plan if you seek credit or other financing for your business. As important is the fact that writing and updating your business plan focuses you and forces you to address any potential problems in both the start up and expansion phases of your business. Learn the basic steps from the importance of having a marketing plan to preparing financial assumptions and projections.
- Elements of a Business Plan
- Executive Summary
- Plan of Operations
- Prepare a Business Plan Before You Start Your Craft Business
Different Types of Arts/Crafts Businesses
All arts and crafts can be broken down into four major headings: textile, paper, decorative and fashion. Check out my list and you may have an ‘aha!’ moment. Sometimes we’re just so busy doing the everyday tasks that make up our business that we forget there are other complimentary craft areas we can expand into.
Establishing Your Arts/Crafts Business
Here's the information you need to navigate through your business setup. Find out about paperwork requirements including local, state and federal filings, how to work around home-based business zoning problems and protecting your intellectual work.
