6 Ways to Make Money Knitting
Wouldn't it be awesome to earn a few extra bucks a month? Have you ever thought about ways to make money knitting?
One way to do this is by turning your hobby into a small business.
There are a few ways knitters can earn income. Below are six ways any knitter can start to earn a little side money.
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6 Ways to make money knitting
Craft Shows are probably the most well-known way to sell handmade goods. And for a knitter, a craft show is the perfect venue! Typically it’s very easy to find a craft show or some type of market in any town, so you shouldn’t have to travel to far. Most of the time you can search your local events. Many local markets or fairs will have either a website for vendors or a phone number to call. Make sure you do this ahead of time to get all the details. If it's a recurring show, you may want to check it out as a guest before you sign up to be a vendor. This helps you scope out how things are run and also see if the shoppers are your type of customers.
Small commitment. You can put your feelers out and see if this is something you would be interested in before you fully commit.
Opportunity to make a lot of money in a short amount of time.
The potential for future customers (if you have a business card ready).
Inventory, you do need to have several products (generally of the same thing) made beforehand. This can be expensive and time-consuming.
Environment. Typically craft fairs and markets are held outside, so the weather can be a determining factor in the turnout.
Customers. You never know exactly what customers are going to be interested in.
Learn more: If you are interested in craft fairs, you may be interested in this article to prepare for your next craft fair.
Selling products online for places such as Etsy or Shopify are other great options. This allows you to have a product listed, but you can make on demand. While you would probably need to carry stock in yarn, you may not necessarily have to always have the product made (unless its something in high demand). You do, however, generally have to pay a small fee to list your products and you also have to take into account shipping.
Flexibility. Options for making inventory or made-to-order.
Advertising. Both of these types of stores are very well known, this can help gain a larger customer base.
Fees. You do have to pay a small fee for each sale. This can add up over time.
Rules. As an Etsy seller, you have to comply with all of their rules, this can be a negative if you like things to be your way or else.
Subscription kits are the rage right now. Partnering with a yarn company or notions supplier to sell a kit can be a very profitable business.
Network. Partnering with different companies to supply products for your subscription boxes is an excellent way to network. This has the potential to have your business grow exponentially.
Surprises. Coming up with new ideas each month for new boxes would always keep it interesting. As well as try out all the loot! :-)
Coordinating. This takes a LOT of behind the scenes work. Coordinating with brands, getting inventory, taking orders, putting together the boxes for shipment. You may need a large space for this type of business.
Inventory. Housing all the inventory may be a big expense.
Those who can’t do, teach. Right?! Teaching is a great way to spread the love of knitting with the rest of the world. Sometimes I wonder if knitting is a dying art. And then I remember all you lovely ladies! :-)
No inventory needed. The best part about teaching is you don't need a lot of inventory or equipment. You just need yourself and a smile.
Feel Goods. Teaching others a new hobby just makes you feel good!
Knowledge. You need to be pretty knowledgeable in your field if you are planning on teaching. While I'm not saying you have to be an expert, it's better to be comfortable with your knowledge base so you can have confidence in yourself.
Designing your own work and selling the pattern. This is one of the best and easiest ways to make passive income in the crafting niche. Once you design a pattern and make a downloadable PDF, the work is basically done. It’s just a matter of getting the word out so people know about it.
Passive Income. Once your pattern is made you don't have to do anything to it again.
Creativity. Pattern designing is so much fun! Once you have the basics down of building a garment, adding flourishes and designs is so much fun!
Traffic. Getting traffic to your patterns can be difficult on the internet. This takes a lot of time and patience.
Time. Pattern designing is not something you can do overnight. There is a lot that goes into designing a pattern, idea, writing, testing, editing, etc. While this is all loads of fun, it does take time and can be a slow process.
Blogging is another fantastic way to create make money knitting. With a blog you can actually combine several of the above options in one place, to grow your income exponentially. You can find out more about how to start a blog, in my tutorial.
Flexibility. With blogging, you can make your own schedule and work when you have time.
Income Potential. The earning potential for bloggers incredible. If you are willing to put the work into it, its very possible to earn a full time living from a hobby blog!
Hard Work. A lot of people think blogging is easy and you become an instant success overnight. This is far from the truth, while it is possible to make an income blogging it takes a lot of hard work up front before the income starts to come.
Technical Difficulties. There are a lot of technical things you need to know as a blogger. While they aren't necessarily hard, starting anything new can be stressful and get frustrating at times. Once you get over this hurtle things become a lot easier. :-)
If you are interested in starting your own hobby blog, here is a tutorial to get you started.
Do you think you want to start making money knitting? Or are you just in it for a hobby?
Whether you want to try out one or two options or combine several for a full-blown income, I hope this inspires you to start doing what you love!