Cross Stitch Business Idea
There can be big dollars in a cross stitch business and selling hand-made items if you know how to find your niche and sell your brand.
Factories churn out thousands of similar products that are popular until everyone in town has one.
If you possess the skills, a cross stitch business will introduce a unique market buyers will find very attractive.
Licensing and Taxes
The first step for any company is licensing and tax registration. City, county, state and federal licenses may be required for even a home business. In addition, you may have to undergo an approval process by the zoning board if you live in a residential area.
A good starting point for finding the proper tax and license requirements on the state and federal level is the Small Business Administration. Your local revenue office can assist you with city and county requirements. Paying self-employed taxes should be taken into account when setting your merchandise prices.
Start Up Inventory For Your Cross Stitch Business
If you don’t already have it, a supply of completed cross stitch patterns is essential. You have to be able to show samples of your work not only to potential customers, but also to lenders if you plan to get a business loan.
Inventory for your cross stitch business should also include basic supplies like blank invoices and order books, letterhead, income and expense journals and a mileage record for your automobile. These can be computer based, but always keep paper backups so an unexpected computer glitch doesn’t keep you from making a sale.
Marketing Your Business
The first few months of your new business will be split about halfway between work and marketing. You have to let people know who you are and what you are selling. Ask local stores if you can leave fliers with a sample or photos of your work.
Visit wedding shops or specialty home decor stores and talk to the managers about doing special embroidery work.
You should also consider entering your wares in art shows and quilting bees. These usually require an entry fee, but the exposure will be worth it. Hopefully, you will sell enough to get that money back anyway.
Maintaining and Growing
Keeping a set schedule will go a long way in being successful. Self-employed business owners almost universally say maintaining consistent work hours, even from home, is essential to keeping up your motivation and project completion.
The close work of needlepoint can grow tedious for some people after a couple of hours. Take breaks just as you would in an office, and you will be much more likely to keep it up.
Your cross stitch business can be as small or large as you want it to be if you explore new avenues. Consider setting up a shop online. Hundreds of internet hosting providers have ready-made templates and store fronts for relatively low cost.
Offer classes at your local community center or community college. Put the word out that you are willing to travel a certain distance, for compensation, to teach in other communities as well. Your cross stitch business can begin to grow exponentially when you have a wider base of customers and friendly word-of-mouth advertisers.