TURNING YOUR EPOXY RESIN HOBBY INTO A BUSINESS IN 2023

Epoxy resin is a popular medium that witnessed a surge in new users from the art and craft communities last year. We witnessed a significant increase in many people's resin abilities in a short time because they used all the learning materials we've established, such as the information in our weekly blogs, our weekly YouTube lessons, and our online courses.

 

You may go from knowing nothing about resin to becoming a skilled resin artist in days, weeks, or months because of the abundance of resources and the relative simplicity of Craft Resin.

 

 

Many of you who only started working with resin in the past year or so are now at the point where you can start selling your creations and, in effect, launch your resin enterprises.

 

With the global economy in a state of decline and prices rising across the board, many individuals could use some extra cash right now. Could you use a raise in salary right now?

 

We understand that mentioning "business" might turn some people off from beginning a resin "company." Their lack of business experience and education leads them to believe that starting a company requires a significant commitment of their time, money, and other resources.

 

Humans generally have a low opinion of their skills, and many struggle with low self-worth. As a result, opening one's own business may be daunting.

 

You must change your thoughts and expectations about what you can accomplish.

 

If you can get beyond this—and we mean to push because it won't be easy—the rest of what you'll need to learn to launch a resin business will be a breeze.

 

Any of you reading this can start a small resin business that can be worked on in your spare time. You grow it gradually to a level where you can use it to pay all the bills. If you remove the pressure of going from where you are now creating resin to earning a large resin business. That is, you solely rely on them to pay your mortgage.

 

If the preceding lines have piqued your interest and planted the seed of an idea for a resin business, please continue reading. In this post, we'll discuss how to launch a low-volume resin business that can be expanded later.

 

1. Why, for example, would you desire to launch a resin enterprise?

 

Understand your motivations for wanting to establish a resin business. Starting a business might be easy, but you'll face challenges like anything else. Assuming you have a strong enough reason for establishing your firm, you will be able to persevere through the tough times.

 

Write down your "why" on paper (the old-fashioned way) or your computer. Some possible instances include:

 

My present line of work causes me a lot of stress, so I've been thinking about starting my own business so I may pursue my artistic interests instead.

 

The rising cost of living has left my husband and I with hardly enough money to pay for the basics, let alone indulge in any form of entertainment. To save enough for fancy dinners and movie tickets for us, I plan to launch a resin company.

 

Being a single parent is difficult enough without worrying about extra expenses like my child's desire to take swimming lessons. I want to launch my resin company to cover the cost of swim lessons and demonstrate to my kid that there are always opportunities to earn more money if you're ready to put in some extra effort in the evenings.

 

The desire to create is so strong within me that it might be difficult to focus on my computer work when my mind is racing with new ideas. To release some of this inventive energy, I plan to launch a resin business; 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 at a computer.

 

Use some examples above if you like, but make them your own and make sure they relate to why you want to start a resin business. And act as egotistically as you, please. It need not be for the benefit of others but rather for your satisfaction.

 

 

2. What kind of resin enterprise are you hoping to launch?

 

Vision for the kind of company you want to build is a terrific addition to your plan at this time. A clear picture of what you can do with this can help you become enthused. What kind of company you ultimately want to launch will become clearer to you as a result. In other words, the more precisely we define our goals, the more resources we can draw upon to achieve them.

 

 

Don't restrict your imagination too much; now is the time to let go.

 

You may need to take baby steps to launch a firm that fits in with your other responsibilities, but think ahead: in five or ten years, what kind of company do you hope to find?Here are some questions that may be helpful: 

  • What kind of business size are you hoping to achieve?
  • What exactly are you hoping to sell?
  • What kind of clientele are you hoping to bring in?
  • For example: "What kind of service do you want to provide your clients with?"
  • What kind of brand identity are you hoping to establish?
  • In your new venture, what would a normal day look like for you?
  • What would a normal day look like in your business 5 years from now?
  • How much money do you want to make next year from selling resin?
  • How much do you want to make from the resin of sale in the next five years?
  • How much of your time can you give to your company right now?
  • To what extent could you modify your daily routine to allow extra time spent on your company?

 

Consider reducing your time spent on social media and watching Netflix (and not just one episode, but three or four in one sitting). These are simple areas in which extra time may be made; for example, if you watch only one TV series each week instead of two, or if you limit yourself to 30 minutes of social media per day, you'll have a lot more time on your hands.

 

Can you work on your business's social media material while watching your kids' swim practice? Time is money, and you'd be amazed at how much of it you already have that you could put into business if you only made a few adjustments.

 

3. To what extent can you fund your company's launch?

 

We can only expect to rule the resin industry after a while, so use what you have today and realize that you can expand your spending later. But jot down the sum you have available for investment and how you want to put it to use.

  • Supplies
  • Sales Platforms
  • Marketing

 

There's a chance you have twenty pounds, and there's a chance you have two hundred. It doesn't matter how much money you have because you'll be able to launch the kind of business ideal for you right now.

 

If you don't have the capital to invest in advertising and distribution, don't panic; we'll discuss several options that won't break the bank and will help you get your resin business up and running without taking on debt. Put what little cash you have left toward purchasing some necessities.

 

If you've been making things out of resin for a while now to hone your skills in this area, you probably already have a fair amount of supplies; you might need the best epoxy resin kit for beginners to make some inventory. Or you might need some capital to buy different colorants to give your customers more options.

 

If you buy something for your company, be sure to document the transaction in some way (a spreadsheet, a file cabinet, etc.). In the long run, this will simplify accounting procedures.

 

Since we need to be qualified, we won't offer accounting guidance as a company. However, a wealth of online resources may help you understand what you, as a business owner, need to keep track of to avoid paying too much in taxes. 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. Acquiring Necessary Materials

 

As your company expands and your demand for resin and other supplies increases, compare prices and features among different manufacturers.

 

When you come to buy resin or Mica Powders from Craft Resin, you may take advantage of our Subscription Service. With this, you may save 15% on your recurring purchases without further effort. These can be adjusted to dispense just the quantity of resin you need, and their capacity may be expanded to meet future needs. One, two, three, or four weeks can be selected as the interval, and you can adjust this as needed. And you can terminate service at any time, but notice may be required.

 

Read more about our Subscription Service

Setting aside time to accomplish this will save you a lot of money in the long run, so it's worth it to research other goods you need and locate the best bargains out there.

 

 

5 - Make your stock: 

 

It's smart to have some inventory on hand, but you should only produce a little of an item if there isn't much of a market for it.

 

The only way to gauge the viability of your market is to put in the time and effort required to perfect your resin artwork. A greater number of clients will find you as you improve the quality of your job via practice. Practice, practice, practice until you have a stockpile large enough to sell.

 

Use product surveys on social media platforms to help decide what to sell. This is a fantastic hands-on approach to interacting with prospective buyers before making a sale.

 

Take lots of pictures on your phone or camera now while you build your stock to have at your disposal later. You may save time by not having to manufacture the resin creations before putting them on social media, which makes sharing your work much more convenient for those with a limited amount of spare time.

 

 

6. Set Your Prices

 

Decide how much you want to charge for your products by considering the time and effort put into them and the cost of materials. Make sure there is a profit to show for it!

 

People often understand having shipping expenses added on top of the final purchase price if you cannot include them in the rates you list.

 

If you want further assistance with this part, please refer to our other blog post, discussing how to set prices for your crystal clear epoxy resin creations.

 

Pricing Your Resin Creations

 

 

7. Decide where you will do your selling.

 

You have thought through your business's goals, established a financial strategy, and located your necessary materials. You're all set with stock and pricing for your services. It's time to choose a distribution channel for your wares.

 

In the beginning, you may only need to decide to sell on your personal Instagram or Facebook page. Individuals interested in purchasing your posted works might contact you and arrange to send you a bank transfer in exchange. Make them, send them along, and you're finished.

 

This can be a quick and easy method to get started, but it could be more practical for large orders. When a business begins to pick up, consider a selling platform to help you manage the influx of orders. You could do this if you have the funds to invest in a sales platform immediately.

 

Etsy is one such site where you may sell your wares for as low as £0.16 to publish a listing for a product and then nothing else until a buyer places an order, at which point you'll be charged a processing fee of around 6.5% of the selling price. These estimates may have changed by the time you read this blog post. This may seem like a cheap way to sell your products at first, but remember to include the cost of these transactions when setting your prices.

 

 

Consider website creation

 

In time, you may wish to have your website built; but the upfront costs associated with doing so might be prohibitive. Instead, this is a potential avenue for expansion in the years to come.

 

We recommend launching your sales campaign on the system you are most familiar with or one you can quickly and easily familiarise yourself with via study.

 

You don't have to have everything right when deciding what to utilize. It's important to retain an open mind when starting a business-:

  • If something works well, keep doing it
  • or in case something doesn't work, learn from it and try something different.

 

To be safe, factor in some sales lead time. Even if you've published a single picture on Instagram and invited all your relatives to your page. You will still need to make an immediate sale. People will pay for your innovations if they solve a problem they have.

 

8. Marketing:

 

You should give some thought to which marketing platforms you wish to employ at the same time you're pursuing your sales platform. You likely will only have a little money to throw at advertising your products or services, so your marketing platforms will need to double as avenues for spreading the word.

 

 

Marketing platforms can be:

  • Instagram
  • Facebook Page/Groups
  • TikTok
  • Pinterest
  • YouTube
  • Google
  • Word of mouth

 

Some of the above are available at no cost, while others may incur a small fee. Some require less technical know-how to get up and running than others, and some will be more natural to you because you already have an account there.

 

We recommend choosing one or two, to begin with, learning to make the most of their advertising potential, and then expanding to include more. Remember that you are the creative, businessperson, logistical crew, customer service staff, and marketing department all rolled into one person.

 

When you're ready to start making money from your products, you can find marketing advice in our Blog by searching for Business.

 

To avoid becoming overwhelmed and burned out, it's best to steadily expand and promote your business over time rather than all at once. Making incremental yet consistent development is the difference between launching a successful resin business and failing at it.

 

9 - Align with a bigger brand & collaborate with other artists:

 

You don't have to do it alone just because you're establishing your own resin business. Join forces with a larger brand and work with other artists. It also doesn't imply that every other resin company or artist poses a danger to your own. There are enough willing buyers to make the resin industry booming for everyone involved. Yet some people still need to hear of epoxy resin products!

 

The more prominent businesses you associate with and the more artists you work with, the more eyes will be on your own company. The greater your company's exposure, the more consumers you will gain.

 

Find companies that share your values, as we do. You may become a Craft Resin brand ambassador. In this case, you can add us as partners on your Instagram photos. Also, earn commissions when you promote your resin brand to your audience. We'll be able to promote your content to our 60,000-strong following.

 

As a brand ambassador, you may also be eligible for exclusive discounts. Check out our blog post to learn more about our referral code and links!

Collab With Our Brand

 

Additionally, we've seen some of our brand ambassadors band together and become cheerleaders for one others' businesses. This has helped them develop their own while making fantastic relationships with other resin artists. When you're having a difficult day or running into problems, who will be there to encourage you and support you through it? However, don't forget to buy the epoxy resin and hardener kit for your artists.

 

 

10. Just get out of your own way, may we say!

 

After reading everything there is to know about getting your resin business off the ground, your mind is probably racing with anticipation or dread.

 

Whether you're feeling anxious because you have too much to accomplish. And no idea where to begin or if you have enough time, etc., STOP IT!

 

Putting pen to paper as Step One is a great way to let go of apprehensions and get started.

 

Getting out of your way is the first step toward launching your own business and building the successful enterprise you envision. You're a better leader, businessperson, and resin artist than you give yourself credit for. You ARE capable of accomplishing this!

 

Yes, if what you just read has piqued your interest. Wonderful news and we look forward to celebrating your success in 2023 when you launch your own resin business. Tell us how things are going, and we can offer more assistance.

 

 

A Free Weekly Discussion Topic Is Given Out:

 

Encourage people to share our Instagram posts on the week's topic. We've included a giveaway of free epoxy resin and mica powders for those who do so.

 

 

Please view the most recent post labeled #CRWEEK3 on our Instagram feed/highlights for details on how to join the weekly giveaway:

@craft.resin

 

Even if your epoxy resin firm has a humble beginning, its potential is limitless. In 2023, we want to see many of you establish your own enterprises. And find the independence and pride in doing so.

34 Oz Clear Epoxy Resin Starter Kit with Hardener for Art and Craft
34 OZ CLEAR EPOXY RESIN STARTER KIT WITH HARDENER FOR ART AND CRAFT
1.06 GALLON CLEAR EPOXY RESIN PRO KIT WITH HARDENER FOR ART AND CRAFT
1.06 GALLON CLEAR EPOXY RESIN PRO KIT WITH HARDENER FOR ART AND CRAFT

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