Most crafting businesses begin at the dining room table, mine included, but as your inventory grows so does your need for space. This week I have begun the process of setting up some studio space for myself in our guest room. It is a bit cramped but so nice to have my supplies out and on hand! Currently, I am re-purposing the furniture I had on hand, but as my business grows so will my studio.
In addition to setting up space, I bought more supplies and even purchased a new tool, a scoring board. Hopefully, I will be able to make my own envelopes soon. That is the most expensive part of my sets of cards. Any increase to the already very slim profit margins would be amazing. Keep an eye out for an envelope making tutorial in the near future!
I didn’t realize how important it was to have your own dedicated work space, but the more organized I become the more productive I am getting. The next step I know I need to take is to start tracking any incoming or outgoing funds, and my hours. I have a folder with receipts, but that won’t help me know how much time and money I have invested, which in turn means any profit I do bring in someday is arbitrary. For anyone looking for more information about setting up your finances, Design Sponge’s biz ladies section is so helpful on many levels.
Despite having some dedicated work space (shared with laundry, storage, and guest accommodations), I am not done with the dining room table. It is still the largest work surface in the house. Alas, these are the roots of almost all crafting or home businesses.