Selling friendship bracelets is not only a great way to make money, but is very fun to do. There are so many ways to make friendship bracelets that you are only limited by your imagination.
Because you are selling a physical product, there are some initial costs to selling friendship bracelets. Primarily, you will need your materials. Friendship bracelets can be made from many different materials including embroidery floss, gimp, beads, hemp, leather, and wire.
The initial cost will depend on what you initially use and how much you get. Think carefully about how many friendship bracelets you think you would be able to sell. You can use the profits from selling the first batch to buy more materials for the next.
Using your own money to buy your initial supply would be best. But if you don’t have enough, consider asking for a small loan from your parents. But make sure you agree on when and how much you need to pay them back. As you sell bracelets, you will need to keep some of the money to buy more materials, and some will go to pay back the loan. You might not make a lot of money initially, but once the loan is paid back, all the profit goes to you.
How to Begin
Your first step is to learn how to make friendship bracelets, if you don’t already know. YouTube is a great resource for this as there are many videos that go into detail on all the different kinds of friendship bracelets. As you practice, you will be able to make more advanced bracelets, which you may be able to sell at a higher price.
Once you have several bracelets (your inventory) you can begin advertising and selling them. Initially, your family, friends, and classmates are all potential customers. As you start to grow, look at creating a blog, Facebook page, or even an Etsy store as a way to advertise and show images of your creations.
Consider carefully how much you will charge for your friendship bracelets. The price will depend greatly on how much your materials cost, or Cost of Goods Sold. You need to make sure you are making more money than it is costing you to make the bracelets. For example, if it cost you $10 for a package of embroidery floss, and you can make 10 bracelets from one package, it cost you $1 to make each bracelet. So you would need to make sure you charge more than that in order to make a profit.
Charging an even amount like $1.50 or $2.00 is helpful for anyone paying cash.