WREATH MAKING - AN IDEAL HOME-BASED BUSINESS
Do you enjoy making wreaths and other crafts? Do you have a flair for design? Have you dreamed of starting your own home-based business? It may be that a home-based wreath making business is your perfect niche.
It's interesting to note that the current recession and shrinking job market have been compared to the Great Depression of the 1930s. However, one fact that has not been mentioned is the number of new fortunes that were made during that depression. The same opportunities exist today. Of course that does not mean that any and all business ventures will prosper. There are many factors that need to be carefully researched and considered before taking that step.
One trend that has been documented is the increase in home-based businesses. For many jobless people with jobs disappearing, it has become necessary to create a job or a home-based business. Wreath making is one of the endeavors that can easily become a home-based business.
No matter what business you choose, you must enjoy the work itself and have some experience or talent for the business. There is nothing easy about starting a business whether it's brick and mortar or home-based. But for most people, the benefits far out-weigh the drawbacks. You will have more control over your life and your income. If you work long hours to increase your income, it is your income - it doesn't belong to a company or corporation that pays you for the extra hours but the company reaps the real profit. There is also the personal satisfaction when you achieve your goals. How can you put a price tag on that?
MARKETING YOUR WREATH BUSINESS
Consider making a few of your best wreaths and visiting local gift stores and novelty shops. Be sure you take some business cards, flyers and brochures. You may be able to place the wreaths in the store and sell on consignment.
Call on local hospitals or nursing homes and promote the idea of a new wreath of the month to brighten the patients' surroundings.
Get an account with EBay and learn how to promote and sell your wreaths through that source. Start a web site or blog to promote and sell your wreaths.
Consider giving wreaths to family and friends that are willing to display your wreaths and provide a business card and brochure to prospective customers.
Think about partnering with an interior designer to display your wreaths for holiday parties. When you are first getting started, consider offering a discount to the interior design company. This will get your product and your name in front of prospective customers.
Find out about craft shows. Perhaps you can rent a booth to display your wreaths and hand out business cards, flyers and brochures. Be sure you have several wreaths available for immediate sale.
Having brochures or flyers - with pictures - available to describe the various wreaths available year round will be key to future business. You want prospective customers to understand that you make all types of wreaths, not just holiday wreaths.
Hopefully these ideas will get you started on your own brainstorming. There are so many possibilities.
BASIC NECESSITIES TO START YOUR WREATH MAKING BUSINESS
First, you need a large work room. This could be a spare room or two in the house, a garage or a large shed. Be sure this space is solely dedicated to your business; this is important for compliance with IRS requirements for home-based business deductions.
Next, do your research and line up wholesalers to provide materials and supplies for the wreaths. Obviously the more you order, the less you will pay. Also consider the purchase of a wreath machine. These machines vary in price and in how much added production they provide. A wreath making business now has the potential for providing year round income. Wreaths are available for every special occasion as well as year round home and patio decorating. Wreaths are widely used commercially in malls, hospitals, schools, etc. Initially decide on the types of wreaths you want to promote. Will they be artificial or fresh or both? Will the wreaths have lights? Will the decorations be simple or elaborate? Do your homework and determine what sells best. Also use your flair for design and create wreaths that are unique. You want to stand out from the ordinary wreaths already available.
Finally, you need to write a simple business plan. Even if you do not intend to seek financing when you start your business, you still need a business plan. Why? It will help you focus on the business itself - have you narrowed down a specific niche? What about equipment, supplies, financial requirements for start up, and any staffing needs you may have in the early stages. Basically the business plan should include:
1) Business name
2) Vision statement - your purpose
3) Objectives - financial goals
4) Plan of action - how will you reach goals
5) Marketing - how will you advertise and promote your business
6) Financials - how much cash available for start up, monthly expenses, projected sales
There are many excellent books and software programs available that can guide you through the business plan.
As your business grows and you want to expand, a small business loan may be necessary. The very first document the loan officer will request is your business plan. Remember that home-based businesses can qualify for loans through the Small Business Administration. Home-based businesses must meet the same requirements set for brick and mortar businesses.
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START YOUR OWN HOME BASED BUSINESS - Consider your own business
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START YOUR OWN WREATH MAKING BUSINESS AND PROSPER
Tricia Deed from Orlando, Florida on August 12, 2013:
This is one of those things where a person says, "Why didn't think of that?"
LouisaDembul on February 01, 2013:
Wreath making is a nice idea for a home business.
LauraGraig on January 06, 2013:
A great idea and very helpful tips
VspaBotanicals on January 06, 2013:
Wonderful lens, and I especially love the quote "never stop dreaming". Thank you for that.
Alfiesgirl LM on October 12, 2012:
Wow...I cannot begin to tell you what you have managed to achieved through making this lens...you have somehow unlocked something which I thought would never be possible...I thank you from the depths of my heart rather than the depths of a black chasm...how you did it I have no idea but hallelujah that you did it...Wow is all I can say at this precise moment...and of course a huge THANK YOU x. Love, Light and Life x
CoolFool83 on September 19, 2012:
This could be nice! Thanks for sharing.
LynetteBell from Christchurch, New Zealand on July 02, 2012:
Thanks for the tips
Emmeke on April 25, 2012:
Great lens! I agree with you, you must enjoy what you are doing and then you will succeed with your home based business.
atticanibal on January 12, 2012:
Great lens :d
shreechamundaenterprise on August 16, 2011:
good idea about making money in home.
thanks for sharing your views.
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