You probably want a place for all your crafting supplies, but even if you have space, all storage isn't created equal. One of the most dynamic ways you can make storage work for you is by keeping your supplies visible. Sure, the idea of having a room filled with solid wood cabinets that look spectacular and keep clutter out of sight sounds nice -- if you're an interior decorator -- but being able to look over at the wall and see at a glance the ribbon, paper, yarn, fabric or chain you want has real merit.
To that end, lots of crafters are turning to clear plastic or glass containers, wall hooks and wire shelving solutions that corral supplies but keep them in plain view.
Pegboard -- You've probably seen pegboard (hardboard) holding up the garden spade in your garage -- and dismissed it as a simple hook arrangement with limited functionality for crafting. Pegboard is so much more, though. It doesn't just work with hooks anymore. There are lots of pegboard organizers and accessories on the market that make pegboard a multi-functional storage solution that can grow as your crafting hobby grows. Consider lining one wall of your craft room with pegboard and outfitting it with specially designed baskets, shelves, bins and jars.
Pegboard is available in a couple of thicknesses and hole-diameters to accommodate lightweight as well as heavier-weight items. It can be made of hardboard or metal. It's also available in up to 8-foot-by-4-foot lengths. Pegboard is relatively inexpensive, easy to install and paintable (so it looks good in your craft room). There are even freestanding pegboard dividers on the market if you like the idea of creating functional partitions in your space.
Container storage -- You've probably noticed the proliferation of plastic storage bins on the market over the last few years. From stowing holiday ornaments in sectioned compartments, to functioning as wrapping paper stations, storage containers have never been so organization-friendly. Because many crafts use lots of small objects, we like stacking storage that uses plastic frames and shallow bins that work as removable drawers. They're available at most variety and office supply stores. Even better, they're transparent or lightly frosted so you can get an idea of their contents. That way, you can distinguish a drawer of paint tubes from a drawer of beads without ever leaving your chair. If you like to separate your materials by color, transparent storage containers are doubly useful.
For smaller storage, clear plastic shoe boxes can be very effective and inexpensive, but nothing beats glass slant jars, or what they used to call penny candy jars. These old-timey jars have a tilted mouth that makes reaching inside to snag a button or a bead very easy.