My wife wants to make extra money but she doesn’t know which would make more money. Curious if you have any experience or an opinion.
One question to ask — which of these two products have better demand?
It may hard to come up with research numbers for each of these two products.
But for hair accessories, one way to get a feel for the demand for this product is by going out and looking at how many women actually wear hair accessories. Sit for an hour in a busy mall, and observe what percentage of women you see actually wear hair accessories. What type of hair accessories do they use — e.g. headbands, headwraps, clips? What age group of women actually wear hair accessories more often — e.g. young girls, or women in their 20s or women in their 40s? One thing you’ll notice is that there are so many types of hair accessories and so many variants in terms of style.
As for being a florist for a wedding, how many weddings you’ve been to actually use flowers? I bet almost all weddings use flowers.
One other consideration is how easy will it be to penetrate the market? With handcrafted hair accessories, she can sell them online through ebay or etsy.com. With a wedding florist business, there are more barriers to entry — how to get your service known to those getting married, including their wedding planners.
It all depends on what your wife wants, what she enjoys doing. Afterall, when starting a business, she has to bear in mind that this is what she’ll be doing again and again everyday – so having the passion for what she is doing can help her persevere in the business.