Christmas Knitting ShopStart a Business Selling your Knitted Toys
So you want to start a business knitting toys and selling them? It can be tricky knowing where to start. For a really small outlay it is possible to get going from your kitchen table. Knitting by Post started this way so we have experience of this.
There is so much to do and think about such as getting pricing right, deciding on the right toys to make, postage, sellers fees etc. This guide will hopefully help you to approach your new venture with a logical and ordered way.
- Product
So first things first. What toys do you want to knit and sell? It might sound like an obvious thing to ask and you may well already know but getting a product wrong can stop a small business in it’s tracks.
If you have an idea, look around on the internet and see what others are selling that is similar. If nobody else is doing it, then ask why not. It could be because there isn’t a market for it but more importantly it could be that you have stumbled on a good idea. The opposite is also true. If there are hundreds of people selling an item then it may be that there is too much competition for your knitted items and you will get lost among all the others.
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£4.99 LeafletA Christmas comforter blanket that’s as cute as it is cozy! This snowman comforter makes a wonderful handmade gift for winter babies.
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£4.99 LeafletMake your own Yummy Tummy Bunny with this fun, easy knitting pattern. This adorable bunny features a secret tummy pocket for storing sweet treats. Perfect for Easter gifts
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£7.49Here is the Elepant in the Room. It's a Giant Task But Not a Mammoth One!
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£4.99 LeafletThis mother and child knitting pattern is a small easy and quick to knit character all ready for the coming festive season or as a new baby or Christening gift.
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£4.99 LeafletWhether it's off on an adventure or just snuggled at home, this penguin soft toy is a joy to make. A cute and charming knitting pattern for all ages.
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£4.99 LeafletA gift bag that’s monkeying around! This fun knitted Monkey Baggles gift bag moves its head, making it a playful and reusable present holder.
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It may sound tricky, especially if you aren’t used to selling yourself or your knitting. What makes you different to the others that you have been looking at already? It could be that you offer a personal service or it could be that you want to use the best materials. Think carefully and then sing it from the tree tops when you get going. If you know what makes you different then you have an advantage over your competition but don’t forget to tell everyone!
- Pricing
It is easy when selling knitted items to under value your work. Don’t do it! You could easily be out of pocket if you sell yourself short. You will also devalue what you are making. The opposite is to charge so much that you don’t sell anything. It is a tricky thing to do.
There are lots of things to consider when selling your goods and the last thing you want is to be out of pocket. Get a piece of paper and write down exactly what each of the following is going to cost you.
Materials
Your raw materials per item. This could be yarn, toy stuffing, safety eyes.
Your time
Pay yourself the living wage. If something takes you 2 hours to make then add this to the price
Costs of selling
If you sell on a selling platform such as Etsy or Ebay then look carefully at their charges. They often charge a price to list an item and then a percentage of the selling cost on top too. Don’t forget to factor this in, it could wipe out your profit.
Marketing and Advertising
Don’t think that this is free. You may decide to sell using social media such as Facebook which is great but it takes up time that you could be knitting with. It is a trade off between advertising and social media marketing. You could put 0 in your budget to start with but you might find that this isn’t enough after a while.
Shipping
Include the price of boxes, wrapping, tape, labels as well as postage.
Handling costs
Do you go in the car to the post office? You need to price for this too
Then there’s all the other boring stuff
You need to factor in electricity while you are working. Wear and tear on your computer, internet access, liability insurance, any travel expenses such as picking up your raw materials. The list can go on.
Get yourself a business plan. Even if you can’t fill it all in to start with, it is a written statement of what you want to do and what it is going to cost. Review it every week until you get going properly.
https://www.gov.uk/write-business-planNew
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£4.99 LeafletFrom the Scottish hills to your knitting needles. Here is a Highland Cow soft toy that won't eat the flowers!
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£4.99 LeafletEgg-cellent Chocolate Hugs from a Cute Duck. Easter Themed Knitting Pattern
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£4.99 LeafletA Tall Order For Treats. The Giraffe Soft Toy Knitting Pattern That Keeps On Giving.
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£4.99 LeafletA Sweet And Cuddly Bee Toy Knitting Pattern With A Hidden Pocket For Tasty Treats
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£4.99 LeafletA soft knitted bear that gives warm hugs and holds a chocolate orange. The Bear Chocolate Hugs knitting pattern is a fun and easy project, perfect for Easter or Christmas gifts . Easy to follow with step-by-step instructions.
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£4.99 LeafletKnit Beeatrix the Beekeeper Dolly with this adorable knitting pattern. BEE-lieve it is true. Great for gifting and collecting.
This product has multiple variants. The options may be chosen on the product page - Get the legal bits right
There are three legal considerations if you are in the UK.
You have 3 months to register with HMRC as a business after you begin trading. As you don’t have to do this straight away, it might be worth delaying until you have to register so you can try your ideas out and see if it works. Don’t forget to do it though!
Liability insurance is an other must. If you plan to sell on craft stalls, you could get market traders insurance which is cheaper. Liability insurance in the UK is about £10 per month in 2019.
Lastly there is CE testing. If you plan to sell knitted toys – and some novelty items then CE testing is a must. You can read the UK government guidance using the link below. Certification can be done at no financial cost and is self regulating. - Start small
Do you research, make one knitted piece, put it up for sale and see what happens. Rome wasn’t built in a day. Be patient, it will build over time.
After all that, don’t be put off by how much there is to do. Many successful businesses start this way. It takes hard work and many hours to start with without pay. You need to be prepared for that, nobody will give you something for nothing. If you get it right though it can lead to a successful small business and financial freedom for you.
Other information that you may find useful
Link to GOV.UK website for registering a business
https://www.gov.uk/set-up-business
CE Marking
https://www.gov.uk/guidance/ce-marking
Health and Safety Executive advice on CE Marking
http://www.hse.gov.uk/work-equipment-machinery/ce-mark-summary.htm
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