Arts / Crafts Business: Most Popular Articles
These articles are the most popular over the last month.
Three Financial Statements
There are three types of financial statements: income statement, balance sheet and statement of cash flows. Each one serves a different purpose and contains different information. You should regularly review each one.
There are three types of financial statements: income statement, balance sheet and statement of cash flows. Each one serves a different purpose and contains different information. You should regularly review each one.
Getting Craft Business Started
A list of the steps to take before starting a craft business and quick tips about each step.
A list of the steps to take before starting a craft business and quick tips about each step.
Types of Crafts
All crafts can be broken down into four major headings: textile, paper, decorative and fashion. . Check out the list below 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.
All crafts can be broken down into four major headings: textile, paper, decorative and fashion. . Check out the list below 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.
Cooperative Crafts Show
If the art or craft show jury process seems a little intimidating, a good way to exhibit in craft shows is to form a cooperative and hold your own. Organizing a cooperative craft show is a lot of work but the money you can make and the experience you get out of the process can more than offset the set-up work involved.
If the art or craft show jury process seems a little intimidating, a good way to exhibit in craft shows is to form a cooperative and hold your own. Organizing a cooperative craft show is a lot of work but the money you can make and the experience you get out of the process can more than offset the set-up work involved.
Types of Companies
Which type of arts and crafts company do you own? Depending on how you operate your business you can be a service, merchandising or manufacturing company – or any combination of the three.
Which type of arts and crafts company do you own? Depending on how you operate your business you can be a service, merchandising or manufacturing company – or any combination of the three.
Price Your Crafts
Your objective is to price your crafts so that you make a reasonable profit while not pricing yourself out of the market. It can be an art. Find out how variable and fixed costs plus perceived value factor into the equation.
Your objective is to price your crafts so that you make a reasonable profit while not pricing yourself out of the market. It can be an art. Find out how variable and fixed costs plus perceived value factor into the equation.
Elements of a Business Plan
Information on the eight different parts of a standard business plan, why writing a business plan is important and what type of information is contained in the appendix.
Information on the eight different parts of a standard business plan, why writing a business plan is important and what type of information is contained in the appendix.
Websites and Craft Businesses
These tips will help you get started with web design. Once you understand the basics you're on your way to having your own business or ecommerce website.
These tips will help you get started with web design. Once you understand the basics you're on your way to having your own business or ecommerce website.
Compare Business Entities
When choosing a form of business entity, compare the tax, liability and management impacts of a sole proprietorship, corporation or flow through.
When choosing a form of business entity, compare the tax, liability and management impacts of a sole proprietorship, corporation or flow through.
Paper Mache
Paper mache is one example of paper crafts. Dating back to AD 200, this type of craft is inexpensive and easy to learn. Plus, it can be incorporated into other arts and crafts designs to add surface interest. Find out the basics of making paper mache.
Paper mache is one example of paper crafts. Dating back to AD 200, this type of craft is inexpensive and easy to learn. Plus, it can be incorporated into other arts and crafts designs to add surface interest. Find out the basics of making paper mache.
Crafts Self-Employed Taxes
Handling the tax obligations of self-employed arts/crafts businesses can be confusing. Federal, state and local government can assess taxes. These taxes can show up in the form of income, sales, and use taxes. Find out more about the different type of self-employment taxes and which ones you may be liable for.
Handling the tax obligations of self-employed arts/crafts businesses can be confusing. Federal, state and local government can assess taxes. These taxes can show up in the form of income, sales, and use taxes. Find out more about the different type of self-employment taxes and which ones you may be liable for.
Schedule C Gross Income
Sole proprietorships report items of income and expense on Schedule C. Gross income consists of revenue and cost of goods sold. Find out how to calculate gross income and fill out Part 1 of the form Schedule C.
Sole proprietorships report items of income and expense on Schedule C. Gross income consists of revenue and cost of goods sold. Find out how to calculate gross income and fill out Part 1 of the form Schedule C.
Arts/Crafts Movement Artisans
Simple, clean and unpretentious describes the Arts and Crafts Movement. From Stickley's mission-style furniture to Steubens' art glass, check out a few home furnishing examples representative of the movement.
Simple, clean and unpretentious describes the Arts and Crafts Movement. From Stickley's mission-style furniture to Steubens' art glass, check out a few home furnishing examples representative of the movement.
Find Arts/Crafts Supplies
Finding great,reliable vendors is one of your first steps in starting an arts and crafts business. Without knowing how much your vendors are going to charge you for the art or crafts supplies you use to make your product, how can you set a reasonable retail price? It's also important to have reliable art and craft supply vendors that you can count on to ship the crafts supplies and arts materials when you need them.
Finding great,reliable vendors is one of your first steps in starting an arts and crafts business. Without knowing how much your vendors are going to charge you for the art or crafts supplies you use to make your product, how can you set a reasonable retail price? It's also important to have reliable art and craft supply vendors that you can count on to ship the crafts supplies and arts materials when you need them.
Executive Summary
The executive summary portion of the business plan is in the beginning of the business plan. The purpose of the executive summary is to give your reader a thumbnail sketch of the business.
The executive summary portion of the business plan is in the beginning of the business plan. The purpose of the executive summary is to give your reader a thumbnail sketch of the business.
Choosing Car Expensing Methods
There are two methods you can use to deduct business vehicle expenses - the actual cost method or standard mileage rate. Some arts/crafts businesses are limited to one or the other. Lacking any limitation, you should pick the method that gives you the highest tax deduction over the life of the vehicle.
There are two methods you can use to deduct business vehicle expenses - the actual cost method or standard mileage rate. Some arts/crafts businesses are limited to one or the other. Lacking any limitation, you should pick the method that gives you the highest tax deduction over the life of the vehicle.
Income Statements
All types of business entities prepare an income statement regardless if they are sole proprietorships, partnerships or corporations. The three major sections are revenue, cost of goods sold and general and administrative expenses. Find out more about how to prepare and read an income statement.
All types of business entities prepare an income statement regardless if they are sole proprietorships, partnerships or corporations. The three major sections are revenue, cost of goods sold and general and administrative expenses. Find out more about how to prepare and read an income statement.
Sole Proprietorship
Most brand new arts / crafts businesses start out as a sole proprietorship because it is the easiest and cheapest type of business entity to start and maintain.
Most brand new arts / crafts businesses start out as a sole proprietorship because it is the easiest and cheapest type of business entity to start and maintain.
Standard Mileage Rate
If you drive your car in the normal course of running your arts / crafts business you have two methods to choose from when figuring your business mileage tax deduction. This article discusses using the standard mileage rate.
If you drive your car in the normal course of running your arts / crafts business you have two methods to choose from when figuring your business mileage tax deduction. This article discusses using the standard mileage rate.
Natural Dyes and Home Dyeing
Book review of Natural Dyes and Home dyeing by Rita J. Adrosko. 52 recipes for fabric dyes made from plants.
Book review of Natural Dyes and Home dyeing by Rita J. Adrosko. 52 recipes for fabric dyes made from plants.
Start Selling on Etsy
If eBay’s the king in online marketplaces, the queen for crafters is Etsy.com. Etsy accepts listings for handcrafted items, is an online marketplace for supplies and also allows listings for vintage items.
If eBay’s the king in online marketplaces, the queen for crafters is Etsy.com. Etsy accepts listings for handcrafted items, is an online marketplace for supplies and also allows listings for vintage items.
Limited Liability Companies
Limited Liability Companies are a fairly new type of business entity. Well, new when you consider that corporations and partnerships have been in existence for centuries and even the S-Corp, a runner up newbie was created decades ago. LLCs have several unique advantages, including a flexible taxation system.
Limited Liability Companies are a fairly new type of business entity. Well, new when you consider that corporations and partnerships have been in existence for centuries and even the S-Corp, a runner up newbie was created decades ago. LLCs have several unique advantages, including a flexible taxation system.
Plan of Operations
Learn how to take the basic components of a business plan's plan of operations and tailor the components to an arts and crafts business plan of operations.
Learn how to take the basic components of a business plan's plan of operations and tailor the components to an arts and crafts business plan of operations.
Craft Saturation Point
If you have with properly planned and managed your craft business growth, you will eventually reach a saturation point. Here's how to recognize when you've reached that point and what to do about it.
If you have with properly planned and managed your craft business growth, you will eventually reach a saturation point. Here's how to recognize when you've reached that point and what to do about it.
Beehive Co-op
Beehive Co-ops offer both arts / crafts business franchise opportunities and select highly qualified arts / crafts busineeses to work with Beehive as wholesalers. Find out about the franchise fees, the advantages and how to get started with Beehive.
Beehive Co-ops offer both arts / crafts business franchise opportunities and select highly qualified arts / crafts busineeses to work with Beehive as wholesalers. Find out about the franchise fees, the advantages and how to get started with Beehive.
Actual Cost Method for Cars
If you drive your car in the normal course of running your arts / crafts business you have two methods to choose from when figuring your business mileage tax deduction. This article discusses using the actual cost method.
If you drive your car in the normal course of running your arts / crafts business you have two methods to choose from when figuring your business mileage tax deduction. This article discusses using the actual cost method.
Artfire.com
ArtFire.com is a new online marketplace for artists and crafters. They have two plans available to sellers - a free basic plan and a verified plan that costs $12/month with no listing fees. Find out more about ArtFire in a question and answer session with ArtFire's Member Engagement.
ArtFire.com is a new online marketplace for artists and crafters. They have two plans available to sellers - a free basic plan and a verified plan that costs $12/month with no listing fees. Find out more about ArtFire in a question and answer session with ArtFire's Member Engagement.
Plan to Start a Craft Business
Before you start a crafts business, carefully consider why you want to do it. Being a self-employed owner of any type of business is not a direct pipeline to financial success. Going into a crafts business with this type of mindset can set you up for failure.
Before you start a crafts business, carefully consider why you want to do it. Being a self-employed owner of any type of business is not a direct pipeline to financial success. Going into a crafts business with this type of mindset can set you up for failure.
Average Tax Rate
The average tax rate is the total tax paid as a percentage of total income earned.
The average tax rate is the total tax paid as a percentage of total income earned.
depreciationbasics
Long-lived arts / crafts equipment and supplies are subject to depreciation. Depreciation spreads the cost of arts / crafts assets over their useful life. Find out the rudimentary facts of depreciating assets.
Long-lived arts / crafts equipment and supplies are subject to depreciation. Depreciation spreads the cost of arts / crafts assets over their useful life. Find out the rudimentary facts of depreciating assets.
Before Quitting Your Job
Before you quit a full time job working for someone else to start a craft business make sure you prepare a business plan. Working through the business plan will give you a good idea if you can cover your personal living and business expenses with the new venture.
Before you quit a full time job working for someone else to start a craft business make sure you prepare a business plan. Working through the business plan will give you a good idea if you can cover your personal living and business expenses with the new venture.
Free Business Software
Find out about free business software programs you can tailor to your arts and crafts business. Included is information about word processing, spreadsheet, database, file syncing and sharing programs. Need to tweak product images? Learn about GIMP, a free program similar to Photoshop.
Find out about free business software programs you can tailor to your arts and crafts business. Included is information about word processing, spreadsheet, database, file syncing and sharing programs. Need to tweak product images? Learn about GIMP, a free program similar to Photoshop.
Corporation Double Taxation
There are few instances of double taxation in USA Internal Revenue Code. However, the taxation of corporate dividends and S-Corporation distributions are handled differently. Find out how to handle each one and why in the final analysis, neither is a tax-free transaction to you.
There are few instances of double taxation in USA Internal Revenue Code. However, the taxation of corporate dividends and S-Corporation distributions are handled differently. Find out how to handle each one and why in the final analysis, neither is a tax-free transaction to you.
Craft Business Experience
If you've ever thought about starting and running your own successful craft business it's a good idea to get good practical experience working for another established craft business first. Don't have the time to be an intern? There are alternatives.
If you've ever thought about starting and running your own successful craft business it's a good idea to get good practical experience working for another established craft business first. Don't have the time to be an intern? There are alternatives.
S Corporations
The S corporation is another example of a flow-through type of business entity. S Corporations have limited liability like corporations but taxed as a sole proprietorship. Find out more about how this type of business entity works.
The S corporation is another example of a flow-through type of business entity. S Corporations have limited liability like corporations but taxed as a sole proprietorship. Find out more about how this type of business entity works.
Lease Inclusion Amount
The amount of money that is taxable as ordinary income when you use a leased vehicle in your business. The purpose is to equalize the tax effect between depreciating an owned vehicle and writing off a lease. Find out how it is figured and why.
The amount of money that is taxable as ordinary income when you use a leased vehicle in your business. The purpose is to equalize the tax effect between depreciating an owned vehicle and writing off a lease. Find out how it is figured and why.
Craft Business Market
Successful businesses research the marketplace first and then design products that will sell in that market. Research and a little bit of basic human psychology are good jumping off points for tailoring your craft business to the market.
Successful businesses research the marketplace first and then design products that will sell in that market. Research and a little bit of basic human psychology are good jumping off points for tailoring your craft business to the market.
Etsy Shop Basics
Learn the ins and outs of opening a shop on Etsy. Walk through the seven basic steps from picking an Etsy username to finding out about the listing fees and the Etsy community of crafters.
Learn the ins and outs of opening a shop on Etsy. Walk through the seven basic steps from picking an Etsy username to finding out about the listing fees and the Etsy community of crafters.
Create an Etsy Account
Your first step to open an Etsy shop is to create a Etsy account. This requires you select a unique username representative of your shop concept.
Your first step to open an Etsy shop is to create a Etsy account. This requires you select a unique username representative of your shop concept.
Registering a Copyright
This article walks you through the procedure to electronically register a copyright on an original piece of work. Any original piece of work is automatically copyrighted regardless if it is published. However, registration is required to seek legal action against violators of your copyright.
This article walks you through the procedure to electronically register a copyright on an original piece of work. Any original piece of work is automatically copyrighted regardless if it is published. However, registration is required to seek legal action against violators of your copyright.
Flow-Through Business Entities
Find out about the flow-through type of business entity. Partnerships and S corporations are two types of flow-throughs.
Find out about the flow-through type of business entity. Partnerships and S corporations are two types of flow-throughs.
Craft Cove
Useful advise from a home-based jewelry designer, Jenny Lawson, who sells her designs both online and in retail shops.
Useful advise from a home-based jewelry designer, Jenny Lawson, who sells her designs both online and in retail shops.
Sole Proprietorship 1040-ES
Kind of confused on how to figure a 1040-ES deposit amount? Here's an example walking you through the calculation for a sole proprietorship.
Kind of confused on how to figure a 1040-ES deposit amount? Here's an example walking you through the calculation for a sole proprietorship.
Safe Harbor Tax Rules
A safe harbor is a provision of Internal Revenue code that eliminates or reduces a taxpayer's liability if the taxpayer acted in good faith.
A safe harbor is a provision of Internal Revenue code that eliminates or reduces a taxpayer's liability if the taxpayer acted in good faith.
Protect Your Craft Ideas
Every arts or craft product starts with a basic idea. Designing a product is hard work. Learn the difference between copyrights, trademarks, patents and licensing - four ways you can protect your intellectual property from theft by your competitors.
Every arts or craft product starts with a basic idea. Designing a product is hard work. Learn the difference between copyrights, trademarks, patents and licensing - four ways you can protect your intellectual property from theft by your competitors.
Ms Accounting 2009 Kit Option
Microsoft Office Accounting Professional 2009's Kit feature expedites item entry when you create invoices. Kits includes all service, inventory, or non-inventory items for sale by your company.
Microsoft Office Accounting Professional 2009's Kit feature expedites item entry when you create invoices. Kits includes all service, inventory, or non-inventory items for sale by your company.
Review of Ruby Lane
One online alternative for arts and crafts businesses is to open a Ruby Lane shop. Monthly fees are not exorbitant. Ruby Lane’s standards for quality of workmanship are very high.
One online alternative for arts and crafts businesses is to open a Ruby Lane shop. Monthly fees are not exorbitant. Ruby Lane’s standards for quality of workmanship are very high.
Learning Craft-Making Skills
It’s never a bad idea to take a class in your field of arts or crafts to advance your basic skills. Watching the instructor and your peers just may show you a better way to set up your workbench, perform your craft or you may get a referral to a fantastic vender. Here are some suggestions to find local arts / crafts classes.
It’s never a bad idea to take a class in your field of arts or crafts to advance your basic skills. Watching the instructor and your peers just may show you a better way to set up your workbench, perform your craft or you may get a referral to a fantastic vender. Here are some suggestions to find local arts / crafts classes.
Corporate Entity
The main advantage for a craft business interested in forming a corporation is the limited liability aspect that applies to shareholders and officers of the corporation. A big disadvantage is having to learn how to write payroll checks.
The main advantage for a craft business interested in forming a corporation is the limited liability aspect that applies to shareholders and officers of the corporation. A big disadvantage is having to learn how to write payroll checks.
Betsy Ross Flag Plaque
Easy instructions to make a 13-star flag plaque loosely based upon the original flag design Betsy Ross made for the Continental Congress.
Easy instructions to make a 13-star flag plaque loosely based upon the original flag design Betsy Ross made for the Continental Congress.
Google Profiles
Learn how to take control of your Google search results by setting up a profile to drive traffic to your arts/crafts business. It’s easy and free.
Learn how to take control of your Google search results by setting up a profile to drive traffic to your arts/crafts business. It’s easy and free.
1040-ES
Every attempt should be made to send in Form 1040 tax returns with a balance due of less than $1,000. To achieve this goal, the sole proprietor uses IRS Form 1040-ES to make tax deposits throughout the year.
Every attempt should be made to send in Form 1040 tax returns with a balance due of less than $1,000. To achieve this goal, the sole proprietor uses IRS Form 1040-ES to make tax deposits throughout the year.
Artist Cost of Goods Sold
Figuring cost of goods sold is the first step in setting a price for your arts or crafts. This article walks you through the typical cost of goods sold expenses an artist may have.
Figuring cost of goods sold is the first step in setting a price for your arts or crafts. This article walks you through the typical cost of goods sold expenses an artist may have.
Picking a Business Entity
A quick discussion of how limited liability plays into the section of a business entity. Key is checking your state statutues.
A quick discussion of how limited liability plays into the section of a business entity. Key is checking your state statutues.
Milan Jewelry Design
Read Milan Jewelry Design owner, Lena Gott's, advice on how to meeting customer deadlines, self-promotion and handling criticism. Each of these topics affects the non-creative side of running your business. Of the three, in my experience, self-promotion seems to be a major sticking point with artisans.
Read Milan Jewelry Design owner, Lena Gott's, advice on how to meeting customer deadlines, self-promotion and handling criticism. Each of these topics affects the non-creative side of running your business. Of the three, in my experience, self-promotion seems to be a major sticking point with artisans.
Writing off Raw Materials
If you produce a product, you will normally have both a cost of goods sold and inventory. Find out how to differentiate between the two.
If you produce a product, you will normally have both a cost of goods sold and inventory. Find out how to differentiate between the two.
Etsy Shop Setup
After you’ve created your Etsy account, your next step is to create your shop. Ever open a brick and mortar craft shop? The concept online is not very different. You want your Etsy shop to be a visually appealing place for your online shoppers that is easy to navigate and clearly spells out all your shop policies.
After you’ve created your Etsy account, your next step is to create your shop. Ever open a brick and mortar craft shop? The concept online is not very different. You want your Etsy shop to be a visually appealing place for your online shoppers that is easy to navigate and clearly spells out all your shop policies.
Selecting Activity Codes
Sole proprietors fill out a Schedule C to report arts / crafts business taxable income. This form asks for a activity code. Find out what this is and where to find it.
Sole proprietors fill out a Schedule C to report arts / crafts business taxable income. This form asks for a activity code. Find out what this is and where to find it.
Editing an ArtFire Studio
Just like a storefront display window, your ArtFire.com studio appearance is used to create a visually attractive look to draw customers in. Learn how to select your ArtFire studio color, theme and layout. Also discussed is the importance of having a cohesive avatar and banner.
Just like a storefront display window, your ArtFire.com studio appearance is used to create a visually attractive look to draw customers in. Learn how to select your ArtFire studio color, theme and layout. Also discussed is the importance of having a cohesive avatar and banner.
Add Etsy Items
Before you can sell on Etsy, you need to add items. Etsy has five templates to help walk you through this procedure. Your first step is to make sure you have a good description and images for your item.
Before you can sell on Etsy, you need to add items. Etsy has five templates to help walk you through this procedure. Your first step is to make sure you have a good description and images for your item.
Knitting Textile Craft
One of the textile crafts is knitting. One of the masters of knitting is Kaffe Fassett. Find out more about this knitting designer and his two color method of intarsia knitting.
One of the textile crafts is knitting. One of the masters of knitting is Kaffe Fassett. Find out more about this knitting designer and his two color method of intarsia knitting.
Partnerships
Definition of partnership, a legal form of business entity that can include both general and limited partners. Find out about formation, taxation and how partners get paid.
Definition of partnership, a legal form of business entity that can include both general and limited partners. Find out about formation, taxation and how partners get paid.
Start Selling Using ArtFire
Find out about ArtFire.com, a inexpensive way to market your arts / crafts online. ArtFire offers both a free Basic plan and a Verified plan costing $12 per month with no listing fees or commissions. Like any online presence, maintaining an ArtFire shop takes work. Curious about ArtFire? Find out more about how crafters can use this online marketplace for their arts and crafts business.
Find out about ArtFire.com, a inexpensive way to market your arts / crafts online. ArtFire offers both a free Basic plan and a Verified plan costing $12 per month with no listing fees or commissions. Like any online presence, maintaining an ArtFire shop takes work. Curious about ArtFire? Find out more about how crafters can use this online marketplace for their arts and crafts business.
Reporting Corp Total Income
If you operate as a corporation or S-Corporation, report your arts and crafts taxable gross income in Part 1 of the Form 1120 or 1120S respectively. Calculate it by subtracting your cost of goods sold from your arts and crafts business revenue. Check out these step-by-step instructions on how to transfer amounts from your income statement to the applicable corporate federal tax returns.
If you operate as a corporation or S-Corporation, report your arts and crafts taxable gross income in Part 1 of the Form 1120 or 1120S respectively. Calculate it by subtracting your cost of goods sold from your arts and crafts business revenue. Check out these step-by-step instructions on how to transfer amounts from your income statement to the applicable corporate federal tax returns.
Cease and Desist Letter
If someone infringes on your copyright and doesn't respond to your email request to remediate the situation, your next step is to send a cease-and-desist letter.
If someone infringes on your copyright and doesn't respond to your email request to remediate the situation, your next step is to send a cease-and-desist letter.
Arts / Crafts Business - Articles
An index of articles for the Arts / Crafts Business guide site.
An index of articles for the Arts / Crafts Business guide site.
Arts Crafts Textile Movement
Review of Linda Parry's book "Textiles of the Arts and Crafts Movement". It contains gorgeous color plates of material designs and interesting historical information that can be used by today's artist or crafter.
Review of Linda Parry's book "Textiles of the Arts and Crafts Movement". It contains gorgeous color plates of material designs and interesting historical information that can be used by today's artist or crafter.
Manage Your ArtFire Shop
After you've selected a studio name and setup your Artfire.com account, your next step is to manage your studio. You'll select the color theme for your shop, provide your bio and studio information and upload items to sell.
After you've selected a studio name and setup your Artfire.com account, your next step is to manage your studio. You'll select the color theme for your shop, provide your bio and studio information and upload items to sell.
Series LLCs
You may have heard there is a new type of business entity - a Series LLC. Basically this entity allows many separate limited liability companies to operate under the umbrella of a parent LLC. The purpose? Simplifying the protection of business assets.
You may have heard there is a new type of business entity - a Series LLC. Basically this entity allows many separate limited liability companies to operate under the umbrella of a parent LLC. The purpose? Simplifying the protection of business assets.
Editing Your ArtFire Bio/Intro
The appearance of your ArtFire.com studio storefront is very important as it gives your potential customers a look into your arts / crafts business. The first step is to create a studio introduction and owner bio.
The appearance of your ArtFire.com studio storefront is very important as it gives your potential customers a look into your arts / crafts business. The first step is to create a studio introduction and owner bio.
Bridge Jewelry
Bridge jewelry is so named because it is the bridge between costume and fine jewelry.
Bridge jewelry is so named because it is the bridge between costume and fine jewelry.