Tuesday, March 11, 2014

Making Money by Knitting

Making money by knitting.

Is it possible to make money from knitting. The answer is yes you can make money from knitting.
Making money is not or never was easy. It is possible to make a wage from knitting. With any business how you approach, plan and run your enterprise will determents your success or otherwise.
Before we discuss how to get started can you honestly say that your knitting is at expert level. Can you maintain an even tension throughout a garment. You understand how to size a garment graft seams and knit on circular needles.
Answer the following questions to give you a starting point. How much to you want to earn each month? For example if you want to earn €1000 each month and you hope to earn €10 an hour for your knitting. €10 an hour works out at 100 hours a month or 25 hours a week, actual knitting.
Who will buy your product? If we use a scarf as an example, can you sell 100 scarves a month, every month. In reality you need to identify costumers, they may be retailers or individuals who will buy what you produce. Can you find a client who will pay you €150 for a garment (€50 for yarn and €100 for you). Now you only need 10 customers a month. The customer willing to pay this type of money will expect a unique design in a quality yarn. You cannot compete with a machine knit Aran jumper which sells for €45 in the local drapers.

Your comments are welcome! Watch this space as I will explore this subject more. Please check out our range of quality knitting yarn at www.thewoolshop.ie

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