Making a living by running your own online craft shop is a great and valid dream, however there are financial pitfalls one has to avoid. Many crafters don’t see much growth in profit nor in their store’s success, feeling stuck. Worse, many craft shop owners lose money when selling crafts. How can you make your finances work in your favor?

First, analyze your profit margins. Make sure that you are getting what you deserve for the work you are doing by making your prices “reasonable,” not “cheap.” Next, keep a budget of your expenses and put money aside for supplies, postage, and stuff like retirement plans. Lastly, let any extra money you have leftover reinvest in your business by expanding your website or experimenting with new craft items. For a full article on finances for craft shops, click here:: Four Lessons for Financial Success