When you make crafts, people are always saying to you "Oh you should sell those!" but when you ask them how much they'd pay, their offers are usually less than the cost of materials.
Case in point - I made a shopping bag out of old carrier bags cut into strips and knitted together. And as usual people said "You should sell those. I'd buy one". It's true the materials cost me nothing, but it took me about ten hours to cut the strips and knit it together. At minimum wage, that's £53.50 just for the labour. So I offered to sell them the bag for that price. They all declined.
I think a skilled craftsperson is worth a lot more than minimum wage. And if I was making crafts as a business I'd also have to pay tax, bank fees, public liability insurance and all kinds of other expenses. If I seriously wanted to make hand-made recycled shopping bags as a profitable business I probably couldn't afford do it for less than about £100 per bag. But people only pay that much for fashionable designer items, not recycled home-made chic.
When you buy the materials it comes to even more. The yarn for a hand-made woollen sweater costs in the region of £50, and they take more than ten hours to knit so the labour costs are astronomical. The materials for a hand-made quilt are many times more than that but shhh, don't tell Ed, my husband. The labour for a quilt is also measured in many tens of hours.
That's why I don't make crafts to sell. I don't even make them as gifts because I know people often think "Hand made gift. Cheapskate. Second-rate". I only make gifts for people who appreciate what they're worth, usually other craftspeople.