One of the smartest piece of advice I ever got from someone on how to make a living in the handmade card business in Nigeria was “You should never be making the cards.”
(Although I still make majority of my cards)
This doesn’t mean you are forever banned from making cards. It means that if you want to make a living in the handmade card business, make it scalable. You cannot grow if you are the only one making your cards.
There are many great business plan classes out there, but most are service oriented instead of manufacturing oriented. If you plan on entering the card business professionally, and hope to work with sales reps and sell nationwide, here are some basic questions you will need ask youself. Think of this as your one page business plan:
How to make a living in the Handmade Card Business
Can you physically make and sell 200 cards a month by yourself_____?
How much profit will you make on those 200 cards (subtract all materials, commission, labor expenses) _____?
If your material expenses are too high, can you lower them with these strategies _____?
How many hours does it take you to make one card_____ ? Is it worth the pay per hour_____?
Can you afford to hire other people to make the cards _____?
How much will you pay them to make each card _____?
After you pay them, what will your profit be per month for 200 cards_____?
CONCLUSION: You want to aim for at least a 30% profit per card for yourself. If you are selling approximately 50 – 100 cards per month, and your profit is 30% or more per card, it is possible to make a full time income in this business.
You should also see How to make a handmade card where you get answers to the many question of How to make a living in the Handmade Card Business.
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Have any advice, opinions, views on this from your own experience?
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