How To Turn Quilting From Hobby To Business

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Quilting can be a good way to pass the time and make beautiful quilted creations and works of art. Nowadays, business ideas are brimming, and it takes just one brave step to explore a business venture from a hobby that you love such as quilting. The creations you have made by hand and have given to your family and friends can also be sellable items if you just know how to sell them. Here are some steps on how you can exponentially increase your quilt production and start your business venture which started out as a simple hobby and labor of love:

Plan Your Business

Like any other type of business, you will always need to plan on how to go about your business and how to start it. For starters, make your transition to a business venture a gradual one. You can start out by personally operating a specialized sewing machine for quilting. Garments and quilt experts from Quilter’s Review recommend that you start out with a reliable sewing machine with a good quilting function. If you already own one, make the most use of your available resources first before planning on how you can expand your production and market. For one, transitioning from hand quilting to machine quilting can take time to get used to, but once you get the hang of using the machine, you can work on adding your personal touches and improving the quality of your output. This may require several tries before you get to make a product that is fit for mass production.

Research on Your Target Market

Before proceeding with the establishment of your business, it is essential to know which users can benefit most from your products and who are the most probable buyers from your community. Although most people can appreciate a good quilt, not all of them know how time and effort it takes to make one. A good place to start is by targeting communities with a passion for garments, sewing, and arts. Members of these communities can appreciate and understand the business and will give honest assessments of your products. If they find your products commendable and good quality, they can become great advocates for spreading the word about our business. There is also the possibility of you gaining followers and potential students, so be open to many possibilities about your market.

Consider the Startup Costs

As mentioned earlier, there will be a gradual transition to test the waters before you can start your quilting business. If you have a functional sewing machine that can double as a quilting machine, you can then ramp up your supplies and materials. Your supplies of yarn and threads will need to be expanded and varieties should be added for possible product innovations and changes. You will be initiating a minor mass production to have your target market test out your quilted products. Also, the products that you will be making should not stop at a certain type. Always be creative and make other items that can be used in everyday situations or create quilted designs that serve as alternative fabric and cloth-made products such as blankets, pillowcases, and jackets.

Set How Much You Charge Your Customers

Machine quilting can now allow you to make many products without having to painstakingly use your hands. Thus, the best way you can determine the base price for your products is through the overall size of the quilt. You can add extra charges to specific customer requests and for the intricacy of the design. Include in your charge rate the hourly rate of labor costs. This can be quite tricky as you need to balance out what is commensurate the amount of work you or your employees have placed on the product and the amount that buyers will deem as reasonable. A reasonable calculation would be to add around 20 to 40 percent of the labor costs to the base price. This can then be the retail price that you can provide to your customers and buyers.   

Make a Projection of Your Profit

Once your quilting business gets established, it can become a lucrative business that can generate considerable profit. The typical rate for quilts can start at $350. Even at this minimum rate, if you can produce and sell two quilts a week, you can have a revenue of around $30,000 to $35,000. To maximize the profitability of your business, you can offer custom orders for your customers and buyers. You can charge a reasonable extra rate for these orders and you can increase your revenue even more. Quilters can also become mentors and teach in quilting classes as part of their business expansion. These are just a few of the ways that your quilting business can gain profit.

There are many considerations for starting your own quilting business. Hobbies can take a certain amount of spending, so you can also consider gaining profit from the amount you spent from your quilting hobby. The venture may be tricky to start, but with proper planning and market research, you can make this business a profitable one.

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