If you have a hobby and enjoy making things from scratch, you may have thought about selling some of your goods. Starting up a craft stall is an excellent way to do this. However, you might want to learn a bit about it before you go investing in supplies.
In this article, we are going to look at some of the pros and cons of running a craft stall.
Want to learn more? Then keep on reading.
Pro: It’s fun
Certainly, one of the main advantages of running a stall is that it is fun. Unlike working for another person, you get the chance to create a business out of an interest. You’re putting hard work into something that you love doing, and this can be greatly rewarding. You’ll feel happier and more productive knowing that your work is being enjoyed by others.
Con: There are hidden expenses
When you are first calculating the cost of selling your goods, you might have concluded that you can make a significant profit. However, you need to remember that other hidden expenses will chip away at what you earn. For instance, you may need to hire a site, and if you are exhibiting, you definitely need craft fair insurance. It all adds up, so you need to be prepared for it.
Pro: The hours are flexible
Running a market stall is essentially starting your own business. This means you are the boss and are in control of your own schedule. You can choose when you want to craft your products and decide when you want to set up your stall. It’s the perfect job for stay-at-home moms or individuals who are looking to make some extra money outside of their regular work hours.
Con: Start-up can be expensive
Every business has start-up costs, and in order to make enough products to fill a stall, you’re going to need a fair bit of cash. Alongside the initial cost of supplies and materials, you also need to think about how you are going to market your new business. This could mean printing and delivering flyers, setting up social media, and taking advantage of other digital marketing.
Pro: There is the opportunity for growth
A craft stall can start out as a hobby on the weekends, but if things go well, you have the potential to turn it into something more. As you build up a reputation and loyal customer base, you might be able to sell products online and open up your own physical store. What started as a way to make “extra cash” could turn into an incredible business adventure.
Con: You can’t guarantee a profit
Lastly, one of the disadvantages of running a market stall is that you can’t always guarantee a profit. If it’s raining, cold, or boiling hot and you’re outdoors, you probably won’t get as many customers. There will always be down seasons, and you might not make back what you have spent on supplies.