As more and more people become disenchanted with working for disloyal American companies, many are finding themselves going out and starting their own small home-based businesses. This is great for the U.S. economy, and it is also wonderful if you are one of the people wanting to start your own business! There is no better time than starting your own business than right now.
One of the most popular new businesses is custom embroidery services. Thanks to the technology of today, doing custom embroidery no longer requires very expensive machinery and can be done with simply a decent personal computer and a sewing machine with embroidery capability. Your customer base for your designs is literally limited only by your own imagination and marketing ability. Everyone from dog owners to crafters are interested in having items which reflect their interests and individuality.
Machine embroidery can be done on most fabrics and is the best way to customize your clothing and decorative items. You can purchase designs which are already made and you can also design your own through the latest in digitizing software. Starting your own custom embroidery business is easy if you follow a few standard small business guidelines. Here are just a few of them to consider:
The Business Plan
No matter what business you decide to start, you 100% have to have a solid business plan. There is no way possible to have a successful business venture without one. The best way to develop your business plan is to think about all of the variables which go into your unique business, and what your ultimate short-term and long-term goals are for the business. With all of this information, you can sit down and formulate a business plan without it taking you a lot of valuable time.
Licensing and Regulations
Depending on the city, county, and possibly state you live in, you may have to get a business license to have a legal home-based embroidery business. The way to determine what the local rules and regulations are is to call up your local city and county government offices and ask them what you need to do. If you live in a state with sales tax, you should call up your state Controller’s Office and ask about obtaining a seller’s permit. You will most likely find that most government offices are supportive and helpful in getting you situated in a place where your business is legal.
The best thing you can do for yourself is to keep good business records from day one of your business. Start with the fees to get a business license, and start recording every single business expense that you have. By doing this as you go you will save both yourself and your tax preparer a ton of headaches come tax time.
Setting Your Prices
The number one mistake many home-based sewing businesses make is to charge too little for their services. You need to make a living, and you need to be pricing your items and services accordingly. Whatever you do, do not sell yourself short! Ask a going rate for your items and services and expect that people will pay you what your time and product is worth. This allows you to work smarter and not harder!
Marketing is simply getting the word out and letting others know your business exists. You can market online, through a press release sent to your local newspaper, flyers, brochures, craft fair booths, etc… Anywhere you come into contact with potential customers you can market your items and services. You can even do simple things like always carry business cards, available these days very inexpensively online, and hand them out to everyone you meet as you go through your days.
As you can see there are a lot of things for you to consider when you are thinking about starting a home-based custom embroidery business. However, your business can be very successful and profitable if you take the time to make it so!