It can get costly to get started, yes. But sometimes you can just use every day items to get started.
To start with some basic bows, you'll want to make sure you have a GOOD pair of scissors, a glue gun and glue sticks, and of course ribbon. Good ribbon can be bought at a hobby store like Joanns or Micheals, but you can also order online MUCH cheaper. There are several sites that are devoted just for bow making.
There are some free online programs to get started. If you go to Korkersandmore.com, there are free instructions to make korkers. When I wanted to learn other things, I went to ebay for some CHEAP instructions. Once you get the basic hang of things, you will start to develop your own style and build on that.
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Do you make a bunch of the same one? Do people order them or do you make a bunch and then hope to sell them later?
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You can do both. Depends on what sort of time you have. If you do M2M gymboree, you can come up with ONE style or color combo to match a certain line, and make a bunch of them for sale. But you will most likely have customers thatlike to design thier own bows, and will ask you if you can do what they ask. SO you need to be open to that too.
Right now, I'm making bows for cheerleading and that usually ends up being fairly profitable for me, though VERY time consuming. It helps that my girls cheer and most moms already know that I do bowmaking as my hobby. But there are also fairs, or craft fairs that you could get your name out. Its just how much time you want to put into this, will tell how far you can go.
Refer to my thread in the Networking forum to see all the diffrent things I do.