The Complete Idiot's Guide to Making Money with Your Hobby

Front Cover
Penguin, Jan 1, 2001 - Business & Economics - 407 pages
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How often do you hear from loved ones that you should sell the great little gift baskets you put together for the holidays? Or maybe you can take a piece of scrap wood and turn it into a beautiful treasure and you'd like to make a little extra change with it. The Complete Idiot's Guide to Making Money with Your Hobby has all the information necessary to turn your creativity into cash.
-- How to figure out if your hobby is a boon or a bane.
-- Detailed info on what you need to set up "shop".
-- Expert advice on how to handle taxes, manufacturing, and shipping costs.
-- Using the Internet as a tool to get your specialty noticed.
  

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Contents

Making Your Secret Dream Come True
3
Todays Artisans and Craftspeople
4
Room at the Top
5
From Hobby to Home Business
6
So Youre Making MoneyNow What?
8
Choosing the Right Business
9
Good Reasons to Start a Business
10
Traits of Successful Entrepreneurs
11
Commercial Use of Designer Fabrics and Logos
166
Personal Care Products and Herbal Remedies or Aromatherapy
167
Aromatherapy
168
The Federal Trade Commission and Mail Orders
169
The Value of Disclaimers
170
Bringing in the Pros
171
Selecting an Attorney
172
Questions to Ask Attorneys Youre Considering
173

How to Succeed in Your Own Business
12
Brave New World Know What You Do Best and Do It
13
Define Your Dream
14
Be Wise Dont Compromise
15
One Grafters Story
16
Tips for Choosing a Business
19
Refining Your Business Focus
20
Whats Your Mission?
21
Going for the Goal
23
Hats Hats Hats
24
Do You Have What It Takes?
26
Are You Cut Out for Entrepreneurship?
28
Tips for GoalSetting
29
Your Goals Are on PaperNow What?
30
ShortTerm GoalSetting
31
Be the Master of Your Fate
32
Keep Goals Flexible
33
What Is Your Plan?
35
Make Contact Doing Your Market Research
37
How Market Research Helps
38
What Market Research Can Tell You
39
Market Research Types Methods and Techniques
40
Primary Research
42
Getting Started on Market Research
45
The Real Deal Setting Yourself Up as a Legitimate Business
49
Choosing the Legal Form of Your Business
50
Partnership
51
Corporation
52
Why Go the Corporation or LLC Route?
53
Deciding Where to Incorporate
54
Selecting a Corporate Name
55
Getting a US Employer Identification Number EIN
56
IRS Information
57
Whats an Offshore Company?
58
The Basics of Running Your Ongoing Business
61
A Typical Business Plan Outline
62
How Do I Do This?
63
The Middle
64
The End
68
More Suggestions and Strategies
70
Advertising and Public Relations
71
Using a Computer to Lighten Your Business Load
73
If Youre Buying a Computer
74
Computer Software
75
Selecting Accounting Software Packages
76
ImageEditing and Design Software
77
Use Your Computer for Improving Communications
78
Use Your Computer for Business Research
80
Some Popular Search Engines
81
Use Your Computer for Marketing
82
Placing Value on Your Intellectual Property
85
What Intellectual Property Means for You
86
Trade Name Registration
87
Copyrights
88
Proof of Ownership
89
Notice of Copyright
90
Trademarks
91
Patents
92
Plant Breeders Rights
93
How Important Is Registering Intellectual Property?
94
Tips on Infringement
95
Making Competitive Products and Product Lines
96
Legal and Financial Stuff You Need to Know
99
How It Works Can I Run My Business from Home?
101
The Zoning Laws
102
The Decision Is Not Necessarily Final
103
Certificate of Occupancy
104
Building Codes
105
Government Regulations and Your Business
107
Check Your State Business Licenses
108
Occupational Safety and Health Act Rules and Regulations
109
OSHAs Small Business Safety Management Series
110
Uncle Sam and You
113
The Sales Tax Number Plays a Dual Role
114
Sales Tax Tips
115
The Deal on Business Deductions
116
Avoiding Restrictions on Your Hobbys Deductible Expenses
117
The Cost of Goods Sold
118
Personal Expenses
119
Business Deductions
120
Business Equipment
121
Membership Dues
122
Business Trip Meals
123
Keeping Records
124
Protect Thyself Insurance
125
Why You Need Insurance
126
Business Income Insurance
127
Workers Compensation and Employers Liability
128
Comprehensive General Liability
129
Products Liability
130
Business Owners Policy BOP
131
Key Decision Factors for Small Business
132
Special Provisions for Small Business
133
Keeping Financial Records
135
Accounting 101
136
Inventory
138
Payroll Accounting
139
Monitoring Three Key Financial Statements
140
Banking Concerns
141
Shopping for a Checking Account
142
The Ins and Outs of Business Banking
143
When a Customers Check Bounces
144
Accepting Credit Card Payment
145
Money Matters
147
Researching StartUp Costs
148
StartUp and Operating Budgets
149
Operating Budget
150
Tips on Reducing Your Business Costs
151
Your Guide to ECommerce
152
ECommerce Definitions
153
Merchant Accounts
154
Facts About Accepting Credit Cards
155
Understanding Merchant Account Costs
156
Other Associated Expenses
157
Control Issues Government Regulation of What You Produce
159
The Consumer Product Safety Act
160
Paints and Surface Coatings
161
Content Labeling Law
162
State Bedding and Upholstered Furniture Laws
163
Other Products That May Require Labeling
164
Food and the Gift Basket Industry
165
When to Call in an Attorney
174
How Much Will It Cost?
175
Working with Your Attorney
176
Tips on Cutting Attorneys Fees
177
What Accounting Services Are Available?
178
Gearing Up for Profit
181
Tricks of the Wholesale Buying Trade
183
Wholesale Buying
184
Buying Supplies
185
Wholesale Suppliers
186
Supplier Preference Checklist
187
Finding Wholesale Sources
188
Getting Help from Trade Associations
191
Shopping a Trade Show
192
Setting Up Shop The World of Manufacturing
195
Planning Your Work Space
196
A Business Buying Plan
200
Structuring Your OpentoBuy Plan
201
Time Is Money Understanding the Value of Your Time
203
Your Products Real Cost and Pricing
205
What to Charge for Freelance Work
206
Research Tips
207
The Need to Please
209
Playing the Pricing Game
211
Pricing Policy
213
Unit Cost Per Item
214
Costing Terms
215
Determining Costs
216
MarketBased Pricing
217
Product Pricing Formulas
218
Retail Pricing
220
Deceptive Pricing
221
Free Offers
222
Where Do I Start Selling My Product Line?
225
Selling at Art and Craft Shows and Fairs
227
BazaarsFlea Markets
228
Festivals and Fairs
229
Selling at Art and Craft Shows
230
Dealing with Show Applications
231
Deadlines
233
The Application
234
How Do I Find Art and Craft Shows?
235
Batteries Not Included Preparing to Sell at Professionally Promoted Shows
239
Visual Appeal
240
Layout Concepts
241
Motion
242
Table Covers
243
Basics to Bear In Mind
244
Craft Show Checklist
245
Surviving the Show
247
Canopies for Outdoor Show Survival
248
Safety in Your Vehicle
249
The Exhibitors Golden Rule
250
Other Sales Outlets
253
Craft Mall Benefits
255
The Contracts
256
Monitoring Your Booth Space
257
Plan Properly
258
Craft Mall Research
259
Selling on Consignment
260
Selling Through Private Venues
263
Artisans Open House or Studio Tour
264
Planning a Group Event
265
MakeItTakeIt Craft Parties or Classes
268
FollowUp Pays
269
Am I Ready for Selling Wholesale?
271
Artisans Corner
272
Wholesale Biz Tips
273
Selling Terms
274
Minimum Order Amounts
275
Scheduling Order Shipments
276
Selling Direct
277
The Mail Approach
278
More Ways to Make Money with Your Hobby
281
Licensing a New Line
283
The All RightsElectronic Rights Issue
286
Making Money Selling HowTo Information
288
Should I Open a Retail Store?
293
The Margin
294
Technology Is the Answer
295
Location Location Location
296
Why Retail Arts and Crafts Products?
297
Can Retail Be Profitable?
298
Researching the Product Mix
299
Store Layout and Design
300
Arranging Merchandise
301
Offer Classes and Training
302
Retail Resources
303
Marketing Strategies That Will Help You Build Your Business
305
The Big Marketing Secret
307
Getting Attention
308
How to Reach Your Target Market
311
Believe in Yourself
313
Effective Local Marketing on a Shoestring
315
The BusinessBuilder Marketing Approach
317
Product Originality
318
Increased Perceived Value
319
Reach Out
320
Ad Copy and Sales Brochures
322
The Content
323
Put the Internet to Work for You
325
Web Site Marketing
328
Keeping Visitors at Your Site
329
Why People Dont Buy
330
Domain Name Game
331
EMail Rules
332
Staying Ahead of Your Competition
335
Keep Creative Thinking Alive
336
Brainstorming
337
Your Competitive Edge
338
The Customer Service Edge
339
Plan for Profits
340
What Are Fads and Trends?
341
The Color Story and Social Trends
342
Designing Trends Forecast
343
The Challenge of Change
344
Diversify
345
Appendixes
347
Glossary of Art and Craft Industry Terms
385
Index
393
Copyright

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About the author (2001)

BARBARA ARENA is a craft designer, author, crafts business educator, and veteran entrepreneur who has sold her products at craft shows and craft malls and wholesaled to retail shops. She joined the National Craft Association (NCA) in 1983 and has been its Managing Director since 1994.

Bibliographic information