There is no denying that we are in an age of a “Do It Yourself” DIY revolution of sorts. There are countless books, eBooks, blogs, tutorials, and videos available on how to make and do everyday things yourself. Many of these tout the belief that those things made in the home, homemade if you will, are of a better quality and health standard than those made commercially.
This belief echoes the belief of the masses. In fact, many do not have time to “DIY’ themselves, and are more than willing to pay for products made for others in their home. This means that if you have a product you make in your home, soap, bath salt, makeup, laundry detergent, or anything else that others may use, you could have the beginnings of a nice business on your hands.
What steps do you need to take to make this happen? How can you take your passion for a DIY product and mold it into a profit producing business?
Keep It in Perspective
Remember that you are one person, and be real about what you actually can and want to do. Your production on your own is going to have limits, and if you expand too much you are going to lose the personalized, homemade feel that others desire in DIY products.
In addition, your home has limits. How much of your home can you dedicate to inventory and supplies? Set up an area to store these things and determine from the beginning how willing you are to let them things take over your home. Otherwise, you will have to dig your way out.
Look for a balance in what you can reasonably produce and store, and what you can sell.
Price it Right
It is very common for those looking to start a business selling DIY products to underprice themselves in the beginning. Price cannot be your only selling point. You want others to know your products are worth paying for, and worth what they pay. You want them to have a great value, but you need to make a profit.
Sit down and crunch the numbers. How much does each product cost you in supplies? How much time do you spend on each product, and how much is your time worth? By answering these questions you should be able to determine how much each bar of soap, tube of lip gloss, scarf, or whatever the case may be, costs you to make.
Once you have a cost of goods, you can determine the profit you want to make off of each one and add that amount to the cost. This is your selling price.
Next, you have to not only get the word out that you have something to sell, but convince other to buy it. The best way to do this is sampling. Provide a sample of your product to see, taste, smell, and if possible, use.
Then you have to get your sample to the people. There are various venues for selling DIY products. You may be able to set up at a local boutique, but to get started quickly look for vendor fairs and craft shows. These will allow you to display products, offer samples, and make sales in person.
You may also want to set up an online venue. This can be through a website, social media (Facebook, Twitter, Instagram, Snapchat, etc.), or both. In the beginning sample offers and giveaways will need to be a regular thing. You need to get the word out about how awesome your products are.
Encourage those who try it to spread the word, tagging your social media accounts and sharing your webpage. Word of mouth is powerful in this type of business.
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