Owning your own business can be very rewarding. You can enjoy the freedom of being the boss and reap the financial benefits by developing and selling a product for a profit. Baseball fans love to wear caps, and making and selling caps can be a profitable business. Keeping the design and production costs low and the selling price high enough to make a profit, but low enough for consumers to want to purchase the product, will be the ultimate factor for success.
Design the caps you're going to sell on paper. Don't start making caps until you have the design or designs you want. Draw with pencil. It's much easier to correct mistakes made with a pencil than with a pen.
Make several caps with the sewing machine. Write down how long on average it takes to make a cap.
Determine the amount and cost of material used for making one cap. It can be tough to determine exactly how much material is used. Try and get as close to an accurate figure as possible.
Determine how much profit you want to make with one cap. Take that number and subtract it from the amount of money it costs to make one cap. If you can profit five dollars from one cap and it takes you 20 minutes to make it, you'll average around fifteen dollars an hour profit.