Opening Shop – How to Save Money

I’m so excited that I finally opened my Etsy shop! I’m still building more inventory before I add ALL the products I’ll be offering! One of the hardest things about having a crafting/sewing business is just getting started! I know this because I have been “getting started” on and off for 3 years! Did you know that’s actually how “Pea of Sweetness” came to be? It was intended to be my business website, and then I started blogging, and it took a totally different path! My delays were mostly due to medical issues within my family, but once that passed I found it very challenging to purchase supplies and materials. Sewing/Crafting businesses definitely use materials, and you don’t have a business without them. So, I wanted to share some money-saving tips to help get your business started without breaking the bank!

• Make a list. Planning is so important. If you just start your business on a whim and take a guess at what materials and supplies you’ll need chances are high you will end up with a lot of things you DON’T need. Resell value of unused material and supplies isn’t nearly worth a finished product, so with proper planning you won’t overbuy. Check the “market” as well for whatever type of products you will be offering. What is popular right now? What is their selling price? How can you offer something similar with your own unique twist?
• Look for money-saving opportunities – like coupons! As coupons becomes more popular I think we’re more aware of how they can help us save! The same is true when you’re starting your sewing/crafting business! Look for coupons to great suppliers to get your starting stash of materials and supplies. Here are some great Jo-Ann Fabrics Coupons I found! Driving to the closest Jo-Ann Fabrics here isn’t worth the instant gratification of having the product now. It is over an hour away, and with high gas prices, it saves to shop online! I love that all of the coupons are redeemable on their website AND there is an opportunity to earn free shipping! It is definitely worth it to save money and just shop from home! I was able to stock up on both materials AND supplies! The material and supplies have to come before the profit, so saving money in this area is probably one of the most important parts!
• Keep your receipts. One of the things that is imperative is to keep your receipt on purchases made for your business. When tax time rolls around and you have profit to report you’ll also want to make sure you have your expenses in order to report as well. Make sure you’re keeping track of things like: internet/phone costs, gas used for anything related to your business, etc. Talk to an experienced accountant for tips on what you can claim as expenses/deductions. It won’t save you money in the short-term, but it will definitely save you money in the long-term!
• Make the most out of what you have. Don’t waste materials. Obviously, we make mistakes, and that is one thing, but throwing out something that can be used is something totally different. You will find yourself spending less on materials and supplies if you make the most out of what you have. Again, proper planning is key. If your business involves sewing make sure to use patterns in a way that saves the most material and use scraps on other projects where you can fit them in! You’ll be surprised how much material you can save with proper planning!

So, don’t be deterred by start-up costs. It may seem like a lot up front, but if you use careful planning, money-saving opportunities, and don’t overbuy you can get started without break the bank! Good luck! 🙂