There is a growing global demand for the preservation of memory in the most unique and wonderful way. And scrapbook is the answer to that demand. Arguably the fastest-growing home business in the US, the scrapbook industry today is generating revenue of US$2.55 billion per year–the number may double if we take into account the global scrapbook industry.
The demand for scrapbook will likely to keep growing. Hundreds of million of people get married, travel, and give birth every year–and this provides the opportunity for scrapbook industry to keep expanding. With around 2.3 million weddings in the US alone, there’s already a huge market in the states for scrapbook businesses. But there’s no need to confine yourself to the US; Japan and South Korea are ripe for picking–and they don’t have too many experienced scrapbook artists to help them. Scrapbooking business is ripe for picking.
So now that we know the huge potential to generate profit from your hobby, what are the steps you need to take to start your own scrapbook business? Let’s take one step at a time.
Step 1: Make up Your Mind
It all starts here. Decide that you’re ready: “I’m ready to run my own scrapbooking business.” Find a spot in your house. Pick a day on your calendar.
Step 2: Decide on an Area
There’s a spectrum of business opportunity in the scrapbook industry: scrapbook retail, scrapbook consulting, scrapbook product design, and, of course, you can choose to become a professional scrapbook artist. That last option is perhaps the most appealing for many scrapbook enthusiasts. It has minimal start-up costs (you really can start with almost nothing!), work from home, choose your hours, and make money. Lots of money, for many professional scrapbook artists. See, a lot of people like the look of scrapbooks, but don’t have the time, knowledge, or creativity to do it themselves. And, as with other service businesses such as professional organizing and interior design, it’s easier for some people to hire out than to do it themselves.
Step 3: Get Information
This is the crucial part. The biggest reason a small business fail to take off is because of lack of planning, due to lack of information. Your first order of business is to get as much information on your business plan as possible. How much should you charge? Where to get resources at a bargain price? How to get and retain clients? These are just some questions a scrapbooking business owner should ask herself. There are some free resources in the internet, but you shouldn’t be too thrifty spending some capital to get more quality information. Buy books, e-books, and newsletter or magazine subscriptions. How much you should spend? I always say $100 to $200 is still very much acceptable to spend on these valuable information. You need to equip yourself–your business’ greatest asset–the best way possible. Get those valuable information. It’s key to your business success.
Step 4: Make it Legal
Now this is the part that often deters many aspiring entrepreneurs; don’t let it! Your government WANTS you to run your own business and have set up tremendous incentives for you. You would actually generate more profit and get tax breaks by having your business legal than otherwise. The Small Business Association SBA provides a “Starting Your Business” section in their website that can give everything you need to know about the legal aspects of starting a business.
So there you go. Four simple steps to your dream of having a scrapbooking business. It’s time you make some money doing what you love; and the best thing is that you won’t even feel like you’re working.