Part of being an entrepreneur is being creative, but some may strive to make creativity their focal point. Are you interested in entering a market space that celebrates design, innovation, and expression?
From performing arts, to writing, to crafting, we have an excellent list of business ideas for creative entrepreneurs to help you get started on your journey!
1. Candle Making Business
Although considered to be commodity items, candles can become their own art form with the right creative touch. Potential entrepreneurs should experiment with scents, colors and molds to create something with a unique appeal and worthy of premium pricing.
Profit margins of 50% or higher are very possible. Cost of materials is not particularly high, but make sure you can fully invest the time required to make your business profitable. Candlemaking is a very general field, so create differentiation through the kinds of candles you sell (pillar, floating, votive, tea, etc.), or through the quality of your offering.
2. Craft Store
Creative entrepreneurs that are interested in supplying for multiple art forms might consider starting their own craft store. Craft stores typically make money by buying craft supplies in bulk at wholesale prices and reselling them at a profit.
Another, less common way this type of business makes money is by designing and creating original arts and crafts products. Some stores also offer classes in sewing or quilting.
The profits from craft store businesses vary widely, depending on the cost of materials and pricing. Large chains can make upwards of a billion dollars in profits yearly, and while your store will make significantly less than this, it does indicate that there is a very profitable market for craft supplies.
3. Quilt Business
For individuals who enjoy sewing or seamstress work, have some artistic talent, or have an eye for patterning and organizing ideas into a tangible object, quilting can be the perfect career. Customer special orders and existing quilt repairs will occupy a large amount of the working time and, subsequently, will dominate the revenue stream.
Most quilts sell for a minimum of $350. If you are able to produce two quilts a week, this will generate a revenue of almost $37,000 (ongoing expenses not included). If you are able to produce two quilts at $500 a piece, your revenue jumps to over $50,000. Many long-time quilters report creating up to ten quilts in any given week.
4. Sewing Business
People who enjoy creating fashion and helping people achieve the confidence that comes with looking their best. Many fashions are not ideal for all body types and sizes, and sewing businesses provide an alternative for people who do not conform to existing rigid size measurements.
A small single-person sewing business can earn an annual income ranging from between $18,000 and $67,000, depending upon experience, location, and the type of equipment the business owns.
With one or more employees, a sewing business can earn much more, and some become successful enough to provide enough to provide franchise opportunities.
