Why Your Craft Business Needs Multiple Streams of Income & How to Do It

Why Do You Want Multiple Streams of Income?

The concept behind multiple streams of income is awesome – create as many streams of income in your small business as you can. If one stream has a slow day, week, or month; the other revenue streams will continue making money. The term multiple streams of income goes hand in hand with the old saying, “Don’t put all your eggs in one basket”.

How Do You Set Up Multiple Streams of Income in Your Craft Business?

This is great and all – but what the business experts don’t tell you is HOW. How can you create multiple streams of income in your craft business? Let’s take a look at three different craft businesses and how they are arranged to have multiple streams of income.

Example 1: Handmade Seller – Physical Products

• Business Information: This seller does handmade vinyl work including cups, tumblers, tee shirts, and decals.
• Number of Streams of Income: 5
  • Sells through stand alone website.
  • Sells products through an Etsy shop.
  • Sells products through a Facebook page and group.
  • Sells wholesale shirts through a local boutique in her home town.
  • Sells at craft shows and events throughout the year; attending at least one show a month.

Example 2: Handmade Seller – Digital Products

• Business Information: This seller sells digital cut files.
• Number of Streams of Income: 6
  • Sells digital cut files through a stand alone website.
  • Sells (the same) digital cut files through Etsy.
  • Sells (the same) digital cut files through Creative Market.
  • Sells digital bundles through font and design bundling websites like Design Bundles.
  • Writes a weekly tutorial on her website using her designs with supplies that can be purchased on Amazon. Earns money through the affiliate program every time someone purchases supplies. (Learn more about affiliate programs.)
  • Earns money passively through ads on her website. (Learn more about passive income passive income.)

Example 3: Silhouette or Cricut Instructor

• Business Information: This seller teaches new Silhouette or Cricut owners how to use their machine.
• Number of Streams of Income: 6
  • Earns money from one-on-one classes in her area.
  • Earns money from group classes in her area.
  • Offers videos on a YouTube channel, which makes passive income.
  • Sells project kits at the end of each group class she teaches.
  • Sell project kits online through a stand alone website.
  • Attends craft shows to sell seasonal items, but talks to customers about classes during the show.

Before you get out there and starting selling everywhere, know that you’ll need to be able to keep up with each income stream as you add it. First, create a plan. Then, put your plan into action.