To be in the custom print business, you need to be a jack of all trades. If you’re creative, it’s an excellent opportunity for you to stretch the limits of your artistry. You can help design and create everything from phone cases to business cards and t-shirts to custom military coins. If you’re interested in starting your own custom print business, here’s what you need to know to get started.
What are the significant costs involved in starting a custom print business?
Depending on what you want to focus on, you can expect to spend anywhere from $500 to $7,000 on materials alone. Some reputable business partners offer business packages, which include the machines, technology, and consumables you need to get started. Some services can also throw in business consultations and product tutorials to help you out.
On average, the following are some general expenditures that you can expect to shoulder for your small business:
- Consumable materials: ink, adhesive, paper, etc. — generally the raw materials to make your product
- Equipment: printers, dryers, flash cure unit, etc. — the machines that allow you to make your products
- Labor: payroll costs
- Location: rental fees or overhead fees (unless you’re going to be working from home)
- Business fees: licensing fees, legal fees, etc.
- Marketing fees: website, graphic designer, advertising fees, etc.
These aren’t a rule of thumb, and the costs will differ depending on the nature of your custom print business. This is just to give you a rough idea of what to expect.
What kind of work is involved in this kind of business?
The nature of work involved in a custom print business revolves around satisfying customer requests to print customized images or words onto a variety of items like refillable water bottles or baseball caps.
What is the earning potential for this kind of work?
There are varied price structures for this kind of service, and it usually depends on the number of items ordered and how complicated the order is to fulfill. A simple request like a small logo on a plain colored t-shirt can be priced at around $7 to $10 per shirt for a box of 30 to 70 t-shirts. If the client makes a wholesale order, that price could go down.
For extra work such as more colors, intricate designs, and different print textures, charging an additional fee will help cover the added cost of labor and materials needed to fulfill the request.
As determined by the number of clients you have and the kinds of orders that are being placed, you could earn upwards of about $70,000 to $100,000 annually. This increases as you receive more dedicated clients and larger orders.
How can this kind of business gain more clients?
If you want to grow your business and reach a wider audience, you’ll need to market your services effectively. The best way to do this is to establish your online presence. There are plenty of social networks available for you to advertise your services on and build a dedicated following. You should also approach establishments such as schools, local businesses, and government offices around your area that might need your services.
If you’re looking for a worthwhile business venture that allows you to exercise your creativity while making a profit, a custom print business is your best bet.