Thinking about setting up a small handmade business? These are the things I would (and wouldn't) spend money on...

I’ve been seriously working at my handmade jewellery business for three or four years now.  I say ‘seriously’ to reflect the fact that prior to this, I dabbled in an Etsy shop on the edge of part-time employment and a range of other responsibilities. But since I decided to make this my main source of income, I’ve become more canny (I think) about what it is worth (and not worth) spending money on.

Of course, some of these are quite personal preferences I guess, but I hope that my reflections here reflections might be helpful when you are considering how to invest your money as you set out on your creative business journey.

So here are my thoughts:

DO consider spending on…

1. A mobile card reader

Even if you only intend to sell online (either through a webshop or social media), I would suggest you look into investing in a card reader (I use Zettle and have always been very pleased with it, but I know lots of other small business owners who use SumUp).  These are the pocket-sized terminals that work in conjunction with your phone or tablet. They are super easy to set up, and cost very little (less than £40). Even if you decide not sell at artisan markets (when having a card reader these days is a must, I would say, even if you are selling cheaper items), you’ll find the card reader very handy for when someone wants to buy directly from you (for example when contact you via social media and come to collect their purchase) or if you get offered a last minute opportunity to sell at an in-person event. 

You’ll also find that the sales reports provided by the apps associated with these card readers are really useful.  Very easy to understand, and all exportable to your favourite spreadsheet.

2. A subscription to Canva.

If you don’t know it already, Canva is a super-straightforward online design platform that is really straightforward even for those with no prior design experience. It has an easy drag-and-drop facility and lots of templates that can be used for social media posts and the like. It’s a great place to start when you want to begin to build a cohesive set of images.  The free version is great, but you’ll save yourself lots of time with the paid version – it allows you to save brand colours and assets and collect your designs in folders for easy finding!

3. a festival trolley

If you are considering including in-person markets as part of your revenue generating activity, I can wholeheartedly recommend you invest in a collapsible festival trolley.  This means that you can reduce the number of trips you need to make between your car and the venue carrying your display set-up, products, and your picnic. There are all sorts of versions available now, and I would recommend that you check the reviews to make sure you are getting a sturdy one; and one that collapses upwards tower-like rather than folding in half. I say this as someone who has had a couple of rather frustrating moments when a wheel has fallen off mid-transportation. Next time I’d spend more to get something a bit sturdier.  However, saying that, it has schlepped to many, many markets and has been a real game-changer with respect to how enjoyable the experience is!

4. A phone stand

It’s well worth buying a solid, flexible mobile phone stand that has a ring light attached. I have wasted quite a lot of money on several stands that looked like they would answer all my product-shoot challenges, but have really done so.  I now have one shaped rather like an angle-poise lamp. This is attached to the side of my workbench and enables me to making-shots.  I can then twist it round to face the other way and use it to take product shots on a different table. It’s so useful not to have to keep trying to find a place to balance, or attach a wobbly stand when you plan to take some photos.

don’t bother spending money on…

1. A social media scheduling app

There are some great ones around, but I have found that using the scheduler in the Meta Business Suite is works really well to schedule posts, stories and reels to both Instagram and Facebook. It gives you the option to edit your post to suit each platform, and also provides a host of other tools to enhance your digital marketing.  And it’s all free.  With respect to Pinterest, the in-app scheduling functionality is also excellent.  And also free. So cut this expenditure out of your budget, I would advise.

2. Cheap battery-powered lights for your stall

Something else I’ve wasted money on. I do think it’s DEFINITELY worth lighting up your stall – particularly if you are selling jewellery. Ideally, it’s worth paying extra so that you can have a stand next to a power source.  Then what you’ll need is a PAT-tested extension cable and a couple of light-weight clip-on spotlights (also PAT-tested). You’ll be able to get a local electrician to do the testing for you – it’s not too costly – but will need re-doing on an annual basis. The alternative is to invest in some battery -powered spotlights. This is where it is definitely worth spending a bit more, and making sure that they are well reviewed.  You need to look for some with a long battery life.  I have tried both spotlights that use rechargeable batteries and those that are charged through a USB cable.  I think I prefer the latter, as I can top their charge up if necessary, using my battery pack.

3. A pull-up banner

It might be a little unfair to put this in the ‘don’t’ invest list, as I know many people have no problem at all with them. However, unless you are of taller stature (I am only just over 5 ft!) I find these a complete nightmare to pull-up and put-down. I much prefer using a free standing frame (search for ‘wedding frame’ or ‘table-top frame) and a cotton banner which I can attach either with ribbons, pins or by sewing a channel through the top. I believe these are a more sustainable option, as well, given how quickly you hear the traditional (cheap-ish) pull-up banners end up in the dustbin.

4. Brand new books

When I made the decision to leave paid employment, I was taking quite a financial risk. Recently separated, I knew that I had to be really clear about how my finances would work. This is something that I worked very hard on to make sure that it didn’t become a serious stress. I was lucky in knowing that I had my teaching to fall back on if things didn’t work, and I was also prepared to take part-time temporary work if needed. Crucial to my planning though, was to make sure that I could give myself a minimum of 6 months before making a decision about whether this venture is actually financially viable. Any time less than this wouldn’t be a good test, as it wouldn’t give me the opportunity to try things out and see what effect they had.

I hope this has been useful - do let me know what you would recommend investing in (or not) in the comments.