Post #143796 by pariartspaul on Mon, Feb 28, 2005 4:05 PM

Yes it can be done. But it's not easy. My advice would be to get your expenses as low as possible right off - like work in your garage and start maybe part time at first. Start setting up and get the tools you need if you can afford them with the job you have now, and just start making the stuff. You'd be amazed what an inspiration and incentive it is once people start buying your items.

Get yourself a business license and create a good name for your business. You can get started with that while you're working on your present job and it will inspire you to start making your products.

If your stuff is good it will sell. Put it up here at Tiki Central or start a web site, or create an ebay store like a lot of people do. A web site is your best option for good publicity, and it doesn't cost much to maintain once it is up. If you can manage it yourself so much the better.

For your pricing, once you start selling you'll have to figure out what kind of quantity you can make and sell in a month and how much money you'll need to survive and then try to price accordingly.

We've been doing our tiki sign business for three years now and we're finally starting to do okay with it just now. Our first year we made over a hundred signs but the prices were too low. At the end of the year I added up everything and with our expenses we barely made any profit at all. Man it was sooo frustrating! I had savings to get us through that. But the next year we raised the prices a little and sold even more - we did a little better. Last year we were very busy all year and we ended up making 3 times more than the year before. I was so happy with our progress.

So it takes some time and risk to get it going. This year we started off with a bang and we've been very busy and our prices are just about right I think - so we expect a good year.

Advantages: You can design and sell whatever you want, make your own hours and control every aspect of your business. Working with your customers can be great - in our three years so far there's only been maybe a couple that were anywhere near difficult, but even then nothing too bad.

Disadvantages: You have to come up with your own healthcare. Prices can range from under $100 a month to astronomical depending on the plan and provider. I hate dealing with them.
I you want retirement savings you'll have to plan for it yourself.

Overall it's not easy, but hey - you only live once. Go for it and good luck.