A key Knitting Business start-up tip is to test your markets, so you know what your potential knitwear buyers really want rather than what YOU may think they want -what if you have it wrong!? This is very important and is part of your initial knitting business market research.
Some initial knitting market reasearch can save you lots of time, but, most importantly it may potentially save you from making expensive mistakes when first starting out with your knitting business.
Often as knitters we have our favourite knitted items that we love to knit, but what if your knitwear buyers don’t actually like these or have no use for these knitwear items -you will not make any sales! Or what if there are knitwear items that they would prefer more -and hence buy more so you make lots more sales for your knitting business.
So How Do We Test Our Knitting Market?
Testing your knitting market is relatively easy. Here is one way: You don’t need to knit or crotchet a massive range all at once. Try starting out with one or two knitted items at a time, watch how well they sell, and focus on the ones that do well. There’s an old rule that 80% of your profits will come from 20% of your products, so that what you need to try and find -those wonderful 20% of knitted products that are the “stars” -the most popular sellers.
Then obviously, once you have found these -“bingo”- these are the knitted items you will focus on and knit, produce/sell for your knitting business. You may be surprised to find your knitting business evolves quite differently than what you initially expected because certain knitted items are much more popular than others.
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