If you have a love for craft then congratulation, you are at the right place. Get the best secret of success now with the remarkable craft supply store business idea. Convert your love for crafts into a successful business. Craft supply store business idea is a huge success with tons of money-making opportunities.
01 Startup Financing
Business Titans will help you to choose the best-matching financing method to your situation and to prepare you to get a good deal with the right partner. Speak to us about your idea and situation and get a free proposal how Business Titans could help you. Below is a preview of few possible financial solutions for your business project.
1. Bootstrapping: The right and wrong ways to set up your Startup with your own money.
2. Equity Partner: Money from equity partners can be good or bad for your project
3. Bank Loan: Be prepared for the tough due diligence checks of the banks. Get help for Due Diligence and KYC.
4. Friends and Family Loan: A sensitive topic with many attention points.
02 Business Planning
Business Planning is a continuous process of assumptions, risk assessments and revisions. It is not about the Business Plan but about the thinking process while you are setting up a new venture. Any serious business partner will challenge your assumptions and assessments. With Business Titans you get a diversified and professional sparring partner to brainstorm and starburst your business model until it is waterproof.
We help you to get the documentation you need in the right step with the right quality and format. Equiped with Business Titans certified documents, you will stand off in any forum.
03 Weekly Coaching
When the financing step is done and your business documentation is complete, it's time for action. A Senior Consultant will be accompanying you in a weekly personal coaching session through the milestones of your business. Your Consultant will check for examples and inspirations that match your unique situation. You will be supported with a personalized feedback to every aspect of your company: Legal setup, marketing plan, budget management, business development steps, sales pipelines, recruitment needs, product development, etc.
Business Titans will push you to achieve your milestones, stay in-line with your Business Plan and make you aware when and why a revision is required.
Check Out our New Starter Kit!
Strategy Roadmap - Your compass during the startup phase (6 pages pdf)
- Tools of Business - A collection of 80+ tools for any entrepreneurial situation based on 6 years of trial-error experience and lessons learned (14 pages pdf)
- Smart CEO Guide - Ways to raise efficiency and stay focused on the Strategy Roadmap (15 pages pdf)
- Social Media Marketing - A checklist with industry-standard best practices on social media (3 pages pdf)
- Customer Journey Stations - A one-pager exercise guiding you through the critical moments of dealing with customers (1 page pdf)
THE BUSINESS IDEA
A Craft supply store offers a great variety of creative equipment for creative minds of every age and every industry.
The only thing demanded by this business is the availability of every crafting supply from almost every area of craft industry because this will help you to build and grow your customer base. It offers one of the most potential upselling and cross-selling opportunities. Your profit margin will justify your startup costs.
However, you will need a visible and accessible location. You can achieve 100% or more product markup. Marketing strategy and media will play an important role in the success of craft supply store business idea.
Most of your target customers will be locals. Moreover, you can target online audience. Furthermore, you can locate retailers and wholesalers.
- Physical Store: You can establish physical stores in a location that is well known and easily accessible for example, local market and popular malls.
- Online Sales: You can use E-Commerce strategies to market and sell your products online.
- Wholesale Dealers: You can act as a wholesaler and supply craft to different retailers in your region. An additional benefit of being wholesaler is that you can cover a large territory.
The startup cost for craft supply store business idea will be relatively low. No doubt, capital investment is quite low but through proper planning you will earn double the startup costs in few months.
THE KEY BENEFITS OF THIS PROJECT
- Craft supply store business idea is perfect for creative and young minds.
- This business offers much comfort and flexibility. Moreover, you can run it part-time.
- Products are non-perishable. Additionally, crafting products are of high demand.
- Very big market potential with smart marketing strategy.
- Profit potential is tremendous.