Epoxy resin has been gaining popularity among painters and artisans in recent years. With the help of our online courses, video lessons, and weekly blogs, many of these folks were able to improve their resin abilities in a short period significantly.
Because of the wealth of resources and the relative simplicity of Craft Resin, you can go from knowing nothing about resin to becoming a seasoned practitioner of the medium, capable of producing stunning works in days, weeks, or months.
Many of you who only started working with resin in the past year or two are now at the point where you can start selling your creations, effectively launching resin companies.
And let's face it, as we enter a recession and global prices continue to rise; many folks could use the cash right now. Could you use a raise at the moment?
Many individuals are turned off by beginning a resin "company" just because it is called a "business." They worry that they need to gain the experience or training necessary to launch a successful business because they need to learn how to manage the time, money, and resources that would be required.
Human beings don't have much faith in their own skills, and many of us struggle with poor self-worth. That's why it's natural to be apprehensive about starting your own company.
Your assumptions about your capabilities and limitations are the first obstacle you'll face.
In contrast, the business skills you'll need to master to launch a resin business are really rather easy to pick up if you can get over this initial hurdle; we mean hurdle, since overcoming your own self-limiting views won't be a walk in the park.
Suppose you remove the expectation that you must immediately leap from where you are now as a resin creator to where you can rely exclusively on earnings from your resin business to pay your mortgage. In that case, anybody reading this may launch a resin business that can be worked on in their spare time until it grows to a point where they can use it to pay all the expenses.
If the preceding lines have piqued your interest and planted the seed of an idea about starting your own resin business, then continue reading. In this article, we'll discuss how to launch a minimally viable resin business that can be expanded later.
1: What inspired you to launch a resin enterprise?
Before launching a resin business, it's crucial to define your motivation. Even though getting a business off the ground is hardly rocket science, there will always be bumps in the road. Your reason for beginning the business is what will get you through the tough times, motivate you to wake up early and put in additional hours despite your hectic schedule and keep you focused.
It's time to get out some paper (the old-fashioned way) or your laptop and put pen to paper to explain your motivation.
Several possible instances include:
Due to the high-stress levels in my present line of work, I have been considering taking advantage of my creative abilities to launch my own business.
With the increase in the price of everything from food to utilities, my husband and I have little left for entertainment. I plan to open a resin shop to provide for our occasional romantic dinners.
As a single parent, paying the expenses is easier than adding swimming classes to the list. I plan on launching my resin business to provide financial support for my kid's swimming lessons and demonstrate to her the need to work extra hours to achieve financial goals.
As a result of my insatiable appetite for the creative process, I often need help focusing on my job while at the office computer. I've decided to launch a resin enterprise in an effort to release some of my pent-up inventiveness; who knows, maybe one day I'll be able to do creative work with resin full-time, and then I won't have to spend my days hunched over a computer.
Feel free to utilize some of the illustrative material provided above, but be sure to tailor it to your needs and the specific reasons you want to launch a resin business. Furthermore, be free to put your own needs before anybody else's. It need not be for the benefit of others but rather for your satisfaction.
2: What kind of resin enterprise do you hope to launch?
It's ideal for including a long-term goal for the company you want to build. In order to become enthusiastic about the potential and the things you can make with this, you need vision. You may zero down on exactly what kind of company you want to launch. Our ability to attract resources to assist us in achieving our goals increases as we get more specific about our desires.
Please don't play it safe; feel free to let your freak flag fly.
To be sure, you'll want to begin modestly and build a company that you can manage in addition to your current responsibilities, but think ahead: in five or ten years, what kind of company would you wish to launch?
Here are some questions that may be useful:
- What kind of company size do you prefer?
- What are you hoping to sell, exactly?
- Who are the ideal clients for your business?
- What kind of impression do you wish to make on your clients with your product or service?
- Exactly what sort of brand identity would you like to develop?
- In your new venture, how would a typical day unfold
- In five years, describe a normal day at work for your company
- How much money do you want to make selling resin next year?
- How much do you hope to profit from the resin of sale in five years?
- How much time can you give right now to your business?
- Do you wish you had more time to devote to your company?
Limit your time spent on social media or on Netflix (especially if you like to watch many episodes in one sitting). Time may be easily carved out of these by watching fewer shows or by setting a timer for 30 minutes of phone browsing before putting it down and getting to work.
Can you work on your company's social media material while taking your kids to their various activities? You may be amazed at how much time already exists in your schedule that might be used better.
3. What is the initial capitalization of your company?
Again, we will only be able to rule the resin industry after a while, so use the resources at your disposal now and know that you may expand your spending later. But jot down the sums available for investment and how you want to use them.
- Sales Platforms
You may have anything from twenty to two hundred pounds in cash. It doesn't matter how much money you have, as long as you utilize it to launch the type of business that will serve your needs best at this point in your life.
Don't worry if you don't have any money right now—we'll discuss several strategies to promote and sell your items without spending any cash at all so that you may get your resin business up and running without taking on any debt. Put what little money you have toward buying some necessities.
You may only need extra crystal clear epoxy resin to make some inventory or money to acquire other colorants to offer your consumers more possibilities.
When making purchases for your company, be sure to document them in some way (whether it's a spreadsheet, a filing cabinet, etc.). If you need to conduct any accounting in the future, this will simplify things.
Since we need to be qualified, we won't be offering accounting guidance as a company. Still, a wealth of resources available online can teach you about the records your company must maintain and the deductions it may make. If you can afford one, hiring an accountant at the outset of your company journey might be a wise investment, as they will provide you with invaluable advice and direction.
4. Obtaining Your Materials
As your company expands and you consume more resin and other supplies daily, you may wonder what options are available to you regarding brands.
If you frequently purchase resin or Mica Powder from Craft Resin, you may be interested in our Subscription Service. If you use this feature often, you can save 15% on your purchases. These may be adjusted to produce just the right quantity of resin for your needs, and you can always add more. Schedule updates once every week, every two weeks, every three weeks, or every four weeks; you choose the interval and adjust it as needed. And you may terminate your subscription with as little as a week's notice.
If you want to save a lot of money in the long term, it's important to spend some time at the outset researching and finding the greatest discounts on the other things you'll need.
5. Making your inventory.
You should keep some stock on hand in an emergency, but be wary of producing too much of an item if there is little demand.
Practice makes perfect, so if you want to see if your resin art will sell, make some first and see what kind of feedback you get. You need to improve your work by practicing more to reach more consumers. Therefore, keep honing your skills until you have amassed a sizable enough stock to begin selling.
If you need help deciding what to sell and want to gauge interest, utilize social media to conduct surveys. Involving them before making a sale is a wonderful method to build rapport with them and increase the likelihood of a sale.
While making your inventory, start taking pictures with your phone or camera, so you have enough material to work with. You don't have to spend time crafting the resin creations before publishing if you have material to utilize on your social media accounts, making sharing your work easier and making those with less time more present online.
6. Determine Your Rates:
Calculating fair prices for your works is straightforward as long as you consider the time and effort. Make sure there is a profit to show for it!
Customers often understand when additional shipping fees must be paid on top of the purchase price.
If you need additional assistance with the price of your resin creations, we do have another blog post about the topic available:
7. Optimal Platform
You have an idea of where you want to take your company, a firm grasp on costs, and a supply list at the ready. You're prepared to begin selling; stock and prices are set. Select a marketplace to start selling your products on now.
Starting, you may only need an Instagram or Facebook page to sell your resin. People might send you a message asking you to buy your inventions, then send you a bank transfer to cover the cost. Then, after making them, all you have to do is send them off.
While this might be a quick and easy solution for a few initial purchases, it could be more scalable to larger volumes. As your business grows, the time spent fulfilling orders will increase. Thus it's important to consider an automated sales platform. You may skip all the other steps if you have enough money to invest in a sales platform at the outset.
If you use a site like Etsy to peddle your wares, you can post an item for sale for as low as $0.16 (or $0.16 GBP), and you won't have to worry about shelling out any more cash until a client places an order (at which point a 6.5% processing fee will be added to the final selling price). These numbers may have changed by the time you read this blog. Although there is initially low overhead for selling your products, you will need to account for transaction costs when setting your selling prices.
Make Your Own Website
Your business may eventually benefit from having its own website, but the initial investment in site design and maintenance is not recommended. Rather, this is a potential avenue for the company's future expansion.
To begin selling, pick a platform where you have some familiarity or can quickly learn the ropes with a little online investigation.
Take the burden off yourself to get everything right while deciding what to utilize. In the early stages of a startup, there is a lot to learn; if something is successful and wonderful, keep doing it; if something is unsuccessful, learn from it and try again.
You should remember that sales require time. Even if you've published a single post on Instagram and invited all your relatives to your page, you still need immediate sales. People will pay money for your products if they have a genuine want to get what you're offering.
As with pursuing your selling platform, consideration must be given to the marketing platforms you want to employ. When you first launch, you likely will need more resources to promote your products extensively. In this case, your marketing channels will double as promotional avenues.
A marketing platform may be:
- Facebook Page/Groups
- Word of mouth
Only some of the above will cost you anything. Some are simpler to set up than others, and there are certain channels that you will feel most at home utilizing since you already have an account there.
You can choose one or two from them to begin with, mastering the skill of promoting via those platforms before expanding to others.
Keep in mind that you are:
- A one-person show.
- Performing the roles of the designer.
- Supply chain manager.
- Customer service representative.
- Marketing director.
If you're prepared to start selling your works, you may find a wealth of marketing advice in our Blog by searching for #Business.
Building and promoting your business steadily over time is preferable to going all out initially, only to crash and burn afterward. To do a successful resin business, you must go slowly yet steadily.
9. Associate yourself with a more established company and work together with other artists:
Going it alone is unnecessary just because you're venturing into the resin company. That doesn't imply that every other resin company and artist isn't a potential danger to your own. And there are still individuals around the globe who have yet to hear about epoxy resin creations, which means there are plenty of potential customers for everyone's resin business.
Your brand's visibility and exposure may be increased by joining up with more well-known names and cooperating with other creatives. More exposure means more possible clients for your company.
Get yourself some brand partners like us! Get paid to promote your resin brand and share your resin creations with your audience by becoming a Craft Resin brand ambassador. We also welcome you to mention us as collaborators on your Instagram pictures. We will promote your posts to our community of over 60,000 users if you do this.
As a brand ambassador, you may be eligible for exclusive discounts. If you want to know more about our referral code and links, check out the blog post we just made:.
Recently, we've also seen a number of our brand ambassadors banding together to promote each other's businesses, a move that has helped each of them expand their own while forging new and exciting relationships with the resin art community. When you're having a difficult day or running into problems, who will be there to encourage you and support you through it? Look at all these musicians you've worked with.
Connect with companies that can supply you with epoxy resin kit, collaborate with musicians that will cheer you on, and network with your target demographic. Small businesses have a bright future if they learn to work together, even virtually.
10. Take a step back and get out of your own way
Your mind is probably racing with excitement or fear now that you know all you need to do and consider to launch your resin business.
If you're feeling anxious about it, you're overthinking it and asking yourself questions like, "Is there enough time? Do I have enough resources?"
Put your fears aside and begin with the first step: writing down your why.
You'll be able to launch your resin business and build the company you envision after you remove the internal roadblocks holding you back. You have more influence and success than you give yourself credit for, and as a resin artist, you are truly outstanding. It is possible for you to succeed.
Yes, if what you just read has piqued your interest. This is fantastic news, and we look forward to celebrating your success in 2023 when you launch your own resin business. Don't forget to drop us a line to let us know how things are going; you never know when we can lend a hand.
Topic Of The Week Giveaway:
In order to encourage people to help us spread the word about how to utilize epoxy resin. We've provided free resin and mica powders to those who share our Instagram posts announcing the week's topic.
Visit our Instagram feed/highlights and look for the most recent post with the hashtag #CRWEEK3 for details on how to win the weekly giveaway.
A new clear epoxy resin firm might have humble beginnings, but the future holds endless possibilities. It will be exciting to see so many of you in 2023 launching your enterprises and finding financial independence.