Do you want to start a bamboo crafts-making business from home? If yes, you have landed at the right place.
In the present day, crafts making with bamboo is a brilliant opportunity for small-scale entrepreneurs. In addition to that, the business is easy to start with low investment. Even, you can start a business at home. Nowadays, there are immense opportunities for selling bamboo crafts items to a wide range of customers.
Basically, bamboo crafts are very popular due to their eco-friendly and durable attributes. This type of craft occupies a significant position in the handicraft industry. As a material, bamboo is sustainable, renewable, and has ecologically friendly properties.
Is Bamboo Craft Making Profitable?
Currently, the bamboo-made crafts market is growing significantly both in terms of volume and value in the globally bamboo market. Actually, the significant production and consumption of bamboo across various end-use industries are the major reasons for this.
Bamboo is versatile multi-purpose forest produce that plays a vital role in the world’s domestic and industrial economies. Bamboo and bamboo-based products are used for a wide range of indoor and outdoor applications owing to their abundance and versatility.
Actually, bamboo is an effective alternative to wood and industrial raw materials in both modern industrial and traditional cottage sectors. All these factors are positively contributing to the growth of the bamboo crafts market globally. So starting a home-based crafts-making business with bamboo is a lucrative opportunity for the artisans.
Here are the 7 steps to follow to start a profitable bamboo craft-making business:
7-Step Bamboo Crafts Making Business Plan
1. Different Types of Bamboo Crafts Ideas – Select Your Niche
Actually, bamboo-based furniture holds the 1st position in the industry. Additionally, volume-wise, it occupies the first position in export also. Some of the other most popular items are
- Baskets in different sizes and patterns
- Different types of mats
- Wall hangings
- wind chimes
- Sitting Stools
- Bamboo trays, cups, bowls, spoons, and cutlery sets
- Fishing equipment
- Musical instruments
- Weaved bamboo blind and screen
- Barbecue sticks
- Fruit forks
- Party picks
- Backscratchers and ear scrappers
- Rice Spoon
- Plant support sticks
- Seat cushions
- Ice-cream spoons
- Kite stick
- Sticks for incense sticks industry
- Bamboo brooms
- Knife handle
- Bamboo curtains
- Bamboo handbags
- Flower vases and ashtrays
- Folding fans
- Walking sticks etc.
2. Understand the Market Demand
It is important to understand the exact demand for the different products. Generally, the local demands depend on the different tastes of the local demographics. So, it is important to identify the products that have existing demand. Additionally, check the retail price of those products. These all will help you in deciding the price of your materials.
3. Write a Business Plan
You must craft a business plan before starting the business. You must include your financial analysis and marketing strategy. Additionally, you must include the ways of advertising your products. Basically, a well-crafted business plan helps to initiate the business in the right way. Additionally, it helps to get finance from financial institutions.
4. Make Your Bamboo Crafts Making Business Legal
If you want to run a hassle-free legally compliant business, it is essential to register your business. Every country and state offers a wide range of business structures. Select the one that fits you best as per your size and scale of the bamboo crafts business.
Furthermore, you will need region-specific licenses and permits to conduct business activities. It is advised to talk to local competent authorities and procure those permits.
5. Cost & Investment of Bamboo Craft Making Business
Generally, this type of unit demands very less startup capital compared to other industries. As you are starting from home, you don’t have to invest in securing the space for operation. However, you will need to invest the startup capital for procuring the equipment and hand tools.
Additionally, you will need to procure raw materials like bamboo, wires, threads, and different items for decoration purposes. It is better to start with your own capital. However, you can also consider applying for bank loans also.
6. Procure Resources
Broadly, the resources consist the equipment, hand tools, and raw materials. Basically, a set of Bamboo processing machinery consists of a Bamboo cross-cutting machine, Bamboo Hydraulic Splitter, Bamboo Internal knot removing machine, Bamboo External Knot removing machine, Bamboo Multiple Slicing Machine along with a set of different tools.
According to the product you want to produce, you will need to procure the decorative items also. Also, think about the packaging. You must provide commercial packaging for your bamboo crafts items.
7. Sell your Bamboo Craft Items
Practically, there are numerous ways you can sell the crafts. First of all, you can sell from the local retail gift stores on a consignment basis. Additionally, crafts fairs and street fairs are the most suitable options for selling crafts.
In today’s digital era, you must consider selling your crafts online. Primarily, you can tap the online marketplaces that sell crafts. You can consider Amazon, Etsy, and eBay. Additionally, you can also consider setting up your own online store for selling bamboo crafts items.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.