BusinessHABStarting Scrapbook-er Business: If you want to help people preserve their special memories.
You can start a scrap-booking business and you can offer custom pages.
Fixed and variable costs are considered the two major kinds of costs incurred by a startup business.
Fixed costs are defined as unchangeable costs that are the same regardless of output –
such as rent and equipment.
Variable costs are defined as costs that fluctuate depending on the success of the company –
such as wages, utility bills and taxes.
Memories hold a special place in peoples’ hearts.
We capture these memories by holding on to mementos from dates, vacations,
weddings, the birth of children and other special events and occasions in our lives.
Photographs, ticket stubs, napkins from a restaurant, graduation tassels.
And even handwritten notes form the inspiration for scrapbook professionals.
Who fill albums with these items using decorative pages, stickers, words and themes to tell stories.
If you’re an avid scrapbook-er, you may decide to start a scrap-booking business out of your home.
See also: 15 Top Art Leather Binding Business In Nigeria
Starting Scrapbook-er Business:
1. Carry out Research
Research the scrapbook industry to determine trends, suppliers and competition.
Attend craft shows and speak to fellow scrapbook business owners.
Starting Scrapbook-er Business:
2. Select a Niche
Use your research to differentiate your scrapbook business from your competition by selecting a niche.
You may elect to concentrate on creating scrapbooks for brides and grooms.
Sweet 16 celebrations, baby’s first birthday or family reunions.
Starting Scrapbook-er Business:
3. Create A Business Name
Come up with a catchy name for your scrapbook business.
Contact your local Chamber of Commerce to find out your states’ laws for registering a business as a legal entity.
See also: 7 Steps To Starting Baby Store Business in Nigeria
Starting Scrapbook-er Business:
4. Set Up A Work Space
Set up a work space in your home that allows you to meet with potential clients.
Store your supplies and create scrapbooks.
A large worktable, chairs, storage bins, a computer, printer and phone are ideal for this space.
Starting Scrapbook-er Business:
5. Get A Service Determination
Determine the services you plan to offer and price each accordingly.
You may opt to create scrapbooks for clients.
Hold group scrapbook classes where you teach techniques.
Or provide consulting services to guide others in one-on-one sessions.
As they create their own scrapbooks.
You may price by the hour.
The number of pages included in a book or depending on the specifications of the scrapbook project.
Starting Scrapbook-er Business:
6. Find Vendors
Find vendors that sell the supplies and equipment you need to run your scrapbook business.
Purchase card stock in a variety of colors and textures, albums in assorted colors.
Specialty papers, stickers, metal brads, hole punches in various shapes,
lace, scissors, adhesives, stamps and page protectors.
Starting Scrapbook-er Business:
7. Get sample Scrapbooks
Use your supplies to create three to five sample scrapbooks you can show to potential clients.
Ensure that each sample book is a polished product that meets the requirements of your niche.
Starting Scrapbook-er Business:
8. Hire A Graphic Designer
Hire a graphic designer and a website designer.
To help you create marketing materials for your scrapbook business.
You need a website to showcase examples of your design.
Your pricing and contact information.
You also need a logo, business cards and brochures.
Starting Scrapbook-er Business:
9. Promote Your Scrapbook Business
Promote your scrapbook business at craft shows and fairs.
Talk to business owners in your community.
Who target similar markets to see if you can cross-promote your services.
If you focus on wedding scrapbooks, collaborate with wedding planners, florists or dress boutiques.
See also: Make Money With Baby Portrait Business in Nigeria
Starting Scrapbook-er Business:
10. Get Real Estate & Contractors
First and foremost, you’ll need an office to base your operations.
If you’re offering a service or retail goods.
Then this will most likely cost more, as your business will need to be more centrally located to attract passerby.
On the other hand, if your business is simply producing goods that are sold over the Internet or other retail partners.
Then you can afford to move your business far out into the suburbs for a larger, cheaper complex.
You’ll also have to decide if you want to rent or buy.
Renting may be the more prudent move initially, unless you have massive funds saved up for your venture.
After you choose your office location.
You’ll likely need to enlist the aid of contractors.
And interior designers to make your office a functional work environment by remodeling and adding equipment.
Make sure you cross check contractors’ references as well as their credentials with the Better Business Bureau.
Many small businesses have been cheated by unscrupulous contractors.
So make sure the contractors give you a fair estimate in writing and allow you to oversee all aspects of the construction.
Starting Scrapbook-er Business:
11. Get Utility Bills
Depending on the size of your office and the needs of your staff.
Utility bills can be a huge weight on your bottom line.
This includes water, electricity, phone and Internet fees.
Some companies have allowed more experienced staff members to work from home several days a week in order to cut utility bills.
Many entrepreneurs with foresight will design green workplaces.
In order to reduce energy costs from the start.
Use energy-saving bulbs and water-saving faucets to reduce your bills.
Encourage your staff to adopt a paperless workplace.
Keeping all your records digitally and backed up across several servers.
Starting Scrapbook-er Business:
12. Employee Payroll
Take a careful tally of the number of required positions to keep your company operational.
Who are the most essential employees?
Can several positions be combined into one to be more cost effective?
Research other companies in your industry to find the average pay.
And advertise your jobs with competitive rates to attract top talent.
Must see:11 Top Money Make Scrap-booking Business Tips in Nigeria
Starting Scrapbook-er Business:
13. Carry Out Inventory Costs
If your business requires an inventory of products.
Then you will have to make a substantial payment to stock your inventory.
Calculate the amount of goods you must keep in stock.
And research several potential supply partners to find the best deal.
If the products are perishable, then you should be conservative with your initial estimates to avoid waste.
Companies with over-sized inventories are often considered to be troubled and flirting with financial disaster.
And can discourage your investors.
Starting Scrapbook-er Business:
14. Advertising Your Business
Now that you’ve gotten your business set up, you will need to get the word out there about your business.
Advertising can range from free.
Such as viral marketing initiatives on Facebook and Twitter.
To mid-range ones, such as online ads.
To high-range ones, such as television ads.
Find out which style of advertising is best suited for your business’ target demographic and is the most affordable.
Starting Scrapbook-er Business:
15. Protect Yourself From Early Losses
Many businesses fail to make it past their first year.
Business owners should expect to spend several years in debt before finally making a profit.
Make sure you don’t invest 100% of your available capital into the business.
While this may seem like a good idea to avoid interest payments and debt.
This will leave you with so little available cash.
That you may struggle to make ends meet.
Or close the business prematurely.
Teaming up with venture capitalists, angel investors.
Or even friends and family for investment money can shield you from early losses.
On a monthly basis, make sure your company’s cash flow is positive.
Through adjustments to inventory and payroll.
And you will be on the right path towards profitability and surviving the early losses that sink many fledgling companies. Read more…
BusinessHAB