In arts and crafts, beading has been cherished for centuries as a traditional form of adornment and countless hobbyists have found pleasure in beadwork both casually and as a side-line business. Read on as we look at how you can transform your bead hobby into a lucrative side hustle.
Research, Research, Research
Before you start funneling money into your side hustle, it is important that you go into the venture with a comprehensive plan. Write a business plan that will help guide you to success, and include things like your initial start-up budget, your running expenses, and what price point you hope to go in at. When looking into supplies, remember to source your beads from a reputable supplier like The Bead Traders, to ensure the product you are offering is of the highest possible quality.
Choose Your Market Carefully
When it comes to launching any business, knowing your market and how to sell to them is the first step to success. And, unlike in the past where craft markets and fine-art shows were your only real way to make sales, thanks to the age of the internet, the bead-buying market is bigger than it’s ever been.
So, before you string your first bead for your business, decide if you want to focus on individual, custom-beaded items, or if you want to target shops looking to order hundreds of the same item at a time. Then, create high-quality samples of your work to either post on your website or to take to meetings with retailers.
Don’t Get Tunnel Visioned into Only Selling Beads
While you can make a decent income selling constructed pieces, you should also consider other potential avenues for generating revenue. Consider offering beading workshops to people looking to pick up a new hobby or even to businesses looking for a creative and tactile activity that can help their staff reduce stress, increase mindfulness, and enhance problem-solving skills.
Incorporating beading workshops into the workplace can have a positive impact on employee well-being and help boost employee morale and productivity. And, by offering interesting workshops like these to businesses, hobbyists can leverage their own knowledge and skills to earn some extra money. When marketing your workshops to businesses, you should focus on showing how beadwork can offer a refreshing change from conventional team-building exercises to sell the experience.
Leverage Social Media for Success
A website is a vital tool that can benefit even the smallest business, so make this a priority (if you don’t have one already). Websites offer a convenient place for you to share your portfolio, market your items, and give your clients an easy way to connect with your business. Consider launching your store on a platform like Shopify or Etsy, to leverage the reach of these global websites, with the goal of eventually launching your own standalone website (so you can keep 100% of your profits from sales).
Thanks to their unique and timeless nature, beads and beaded jewelry are a staple of the craft industry that is not looking to go away any time soon. By following these tips, hobbyists can take their love of beads beyond their craft room and create a lucrative side hustle that they should be able to rely on for years to come.
