@Lee-White To answer your question 5: Is there any advice I have for others wanting to try this market?
First of all, biggest piece of advice is to research your market thoroughly before diving in. I knew the market beforehand, because my first long-term job after university was working on a specialist magazine which was all about card making. It was my job, amongst other things, to know exactly what crafters were interested in, to know every new product on the market and to write features about them. So by the time I went freelance and started this I had lots of contacts and could see where the gaps in the market were. I think whichever market you’re aiming for, you need to do the equivalent thing - check out the competition and see where you could do better than them. Then you can start putting together an alternative product that might have the edge over the existing ones.
Second of all, you need to be prepared for the long haul. It really doesn’t happen overnight unless you’re super lucky or a genius or both. We started putting a business plan together back in 2008, launched later that year and really it took a while to grow. I was freelancing at the same time to make ends meet while the business grew…so if it didn’t work out we had alternatives to go back to.
Thirdly, you may need to tweak your product and/or be prepared to change as the market changes. Our first ever stamp set didn’t sell very well, and I had to work out why. We talked to people, got feedback and found out that they would prefer a smaller sized, more affordable set. We changed it and the next set sold better.
Fourthly - you need to create products for your customer and not yourself (within limits) Of course you want to do creatively fulfilling work, but your customer will only buy something if it chimes with their own taste and if it is useful to them. Hopefully you can find that wonderful place where your taste and their taste overlaps - that is the perfect job! - but to do that you need to know what they need and what they respond to.