Whats in a name.
Okay you've done your business plan now you ready to come up with your business name. You need to decide should it be related to the craft your doing, crafts in general, or something completely unrelated. Lets say your nick name is Miss Goody Too Shoes, and you really like that nickname and want to use it. Why. Would it come up if someone typed the craft your selling into a search engine. What if you have a brick and mortar store, would some one looking for crafts stop in your store or would they walk next door to Suzies Hand Crafts.
Do you do one craft to the exclusion of everything else. If the answer is yes, then using something like Jane's Crochet Creations, Kelly's Knifty Knits would most probably work for you. If you do several crafts, would someone looking for Cross-stitch bookmarks look for Jane's Crochet Creations. Or would they more likely to check out The Craft Room.
If you only knit, crochet, sew etc, then by all means use a name that utilizes knit, crochet, sewing, etc. If you do several crafts then try for a name that would work for more than one crafting media. Something along the lines Kelly Creations, or Unique Handicrafts. When you have come up with two or three names that you like type them into a couple of different search engines and see what comes up. You may be surprised to find out there is already a Candy's Craft Creations (or possibly more than one) in different cities and states. You can also go to a place like godaddy.com, type in the name you want and see if the .com, .net, etc are available. If so you may want to grab them while you can.
While memorable names are great, they aren't always your best choice. Try to pick something that is closely related to your business. In the end, you'll be glad you did.