Whether you’re selling homemade craft items, custom clothing, handmade jewelry, wooden creations, or even unique food and drink ideas, it is imperative to safeguard your craft business from certain unfortunate instances.
And while some of these instances can include brand infringement, design theft, or even business property or product damage due to unpredictable events, there are effective ways to protect your business from all these instances and more. And we’ve listed these solutions for you.
Purchase Craft Insurance
Craft insurance is necessary for all businesses that are retailing craft products. This kind of insurance will protect your products and your business in the event of unforeseeable instances.
There are different craft insurance policies, including public liability insurance, craft fair insurance, product liability, and art and craft cover.
When shopping around for insurance suitable for your specific kind of craft business, you should compare policies, carefully read policy terms and conditions to know what you are covered for, and compare costs.
Register Your Business
Registering your business is vital whether own a craft store or own a watch brand. Your business must be seen as an official entity to protect things like your branding, logo, and products.
Once you have legitimized your business, you will have legal protection, your reputation will be secure, you’ll be at liberty to market your brand, and you’ll open doors to transact with big brands and compete in the market as an authentic business.
Patent And Trademark All Your Designs
While you might be focused on fine-tuning product quality and enhancing packaging to grow your personal brand, you should also be concerned about competitors noting your unique designs and hijacking them.
Unfortunately, this is a typical instance, as even iconic brands such as Kylie Jenner’s lip kit products were stolen and mass-produced. However, this instance occurred not because stealing designs is an everyday occurrence in the business world, but because these lip kits were not correctly trademarked, leaving their packaging designs, business branding, and product formula up for grabs to anyone.
So, instead of taking the chance, it is imperative to trademark your brand and patent all your products so that if your designs are hijacked, you at least have legal backing to reclaim your ideas and hard work.
Invest In Business Security
Business security is another vital extra for all businesses. Should your premises be broken into, you could lose everything. A security system won’t just deter criminals, as it will also strengthen insurance claims made for these instances.
There are substantial benefits to having a security system in place when starting your own craft business. These include reducing shoplifting, protection from break-ins, reduction of insurance claims, and ultimately, some peace of mind.
And in addition to a security system to secure your premises and your products, you should also invest in smoke detectors and means of flood protection to ensure your business is covered from all unforeseeable instances.
Focusing on measures to protect your brand and your products is vital to your long-term success. So, you should implement as many measures as possible; the more protection you have, the safer your brand will be.