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Today, I’m sharing some signs that it might be time to close your craft business.
Honestly, this post is hard to write. I blog about starting craft businesses and running and growing craft businesses. And I truly want everyone to succeed.
However, I have to be realistic – running a craft business isn’t for everyone or even every season in life.
Table of Contents
5 Signs That it Might Be Time to Close Your Craft Business
You No Longer Enjoy Running Your Craft Business
If you no longer enjoy running your craft business, it is time to move on. I’m not talking about the occasional bad day here or there – everyone has those. I’m talking about disliking many aspects of your business, not enjoying working with customers, and finding it a chore instead of a joy to create products. The best business owners love what they do.
You’ve Had a Life Change
If you’ve had a life change that isn’t compatible with running a craft business, it may be time to close your craft business. Perhaps you started your craft business before you had a newborn at home, before you had multiple kids, before your husband or wife took on a new job, or before you moved to a different location.
Maybe you are having health issues and can’t deal with your business right now? Whatever the reason, people and seasons of our lives change.
Customer Don’t Love Your Products Anymore
If customers are constantly having problems and complaining about the products you make, it may be time to close your business. Happy customers are good for business, and if every customer is unhappy – it might just not be right for you.
There’s No Market For Your Products or the Market is Overly Saturated
If there’s no market for the products you make, there’s no reason to keep at it. Either change your product lineup to more desirable products, or close down your business. Similarly, if you’ve been at it for a while and you can’t break into an overly saturated market, ask yourself if it’s really worth it. It might be a sign to close down your business.
You Aren’t Making Any Money
If you aren’t making any money, it might be time to close your craft business. If you’ve been at it a while (more than a year) and you are constantly spending more than you make, it might be time to call it quits. A business that constantly sucks money and doesn’t make any isn’t good for anyone.
What to Do After You Decide to Close Your Craft Business
If you’ve made the decision that it’s time to close your business, there’s still work to do to properly shut down your business. I’ve created a checklist to close your craft business.
Since 2015, Christine Schinagl has been helping crafters start and run craft businesses through her blog, Cutting for Business. As a Silhouette and Cricut crafter herself, she has a unique take on what works and what doesn’t work in the craft business world. She also enjoys teaching other crafters how to create digital SVG designs, available through the Design with Me series.