In 2021, the print-on-demand market size was $4.90 billion, and it is predicted that the market will grow at an annual growth rate of 26.1% from 2022-2030. This solid number proves that print-on-demand business growth is aimed to move upward for the indefinite period.
So, if you’re toying with the idea of starting a print-on-demand business, we are here to remind you that this is the best time to start or scale up your business.
This blog aims to present the top 7 business practices followed by successful print-on-demand business owners who have scaled up their businesses from zero to six figures. Let us dig deep.
Business Model For Print On Demand Success!
In simple terms, a print on demand business is where you, as a seller, create printable designs and print them via a printing supplier on specific material when your customer places an order with you. As a supplier, you must own an e-commerce store to list your products, strategically plan to drive traffic to your store, and understand how to convert potential buyers.
DoDropshipping: What is print on demand
Who Can Achieve A Successful Print On Demand Brand?
Even though print-on-demand is a simple business model that can be adopted by anyone who is enthusiastic to make money online, there is a dilemma about who is the right person to start a print-on-demand business. Fret not. In the below section, we briefly explain who is the right fit to start a print-on-demand business.
Content Creators/Influencers:
Online content creators with vast follower bases or who possess influence over their audience are ideal for print-on-demand businesses. As a content creator, you might already know about design and editing.
Even if you have a bit of design knowledge, you can create basic designs to kickstart your print-on-demand business. Moreover, as you’re familiar with social media platforms, it’ll be easy for you to market your products and drive traffic to your website.
Graphic Designers:
As a graphic designer, you’re already well-versed in creating different forms of designs, which puts you one step ahead of everyone stepping into print-on-demand business for the first time. If you’re a graphic designer, without any doubt, a print-on-demand business can be the profitable online business for you in 2023.
Business Enthusiasts:
Besides content creators, influencers, and graphic designers, others interested in building an online business without inventory, shipping, and investment hassles, can also be an excellent fit for the print-on-demand business model. If you have no experience creating designs, you can hire a freelance graphic designer to create unique designs for you or use copyright-free images from the web to create your print-on-demand designs.
When starting a print-on-demand business, design is not the only skill you need to possess; however, marketing, maintaining your ecommerce store, and customer management are complementary skillsets that can help you scale up your business.
Successful Print On Demand Brands: Top 7 Practices Unveiled!
Every successful POD business owner has a few standard practices which help them make more profit and position themselves as a brand. We have compiled the top 7 business practices that can help you to grow your print-on-demand business.
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Strategic Niche Selection:
When it comes to print-on-demand business, there exists a common misconception that it is profitable to choose the popular niche. For instance, print on demand T-Shirts and hoodies are popular; however, that doesn’t mean everyone who starts a print-on-demand business should choose to sell clothing. Exploring the best niches never harms your business. Even at Qikink, we have over 10+ customizable products to let print-on-demand business owners explore.
2. Pick Your Target Audience:
Understanding your target audience can help you know your potential buyer’s needs, wants, preferences, priorities, and earnings to understand their affordability. Hence, if you want to be successful in print-on-demand business, you need to sit and map out your target audience in the first place to market your products strategically. owners explore.
3. Have Credit Cards Handy:
Even though the print-on-demand business is an investment-free business model, it is always advised to keep a few credit cards handy, so in case of a delay in payment processing by your payment partner for any specific reason, you can use your credit cards to place an order with your printing partner thereby delivering goods on time to your customers. Moreover, you can earn credit points which could be used to your advantage later.
4. More Designs = More Sales:
An unsaid rule of print-on-demand business is to create as many designs as possible. With 3-5 designs, it’s doubtful to turn around huge profit, and, the chances of success of each design are relatively low. However higher the count of items, the higher the chances of conversion and sales. Moreover, providing a limited options to your customers in terms of variety is suggested. Rather than confusing or overwhelming your potential buyers with more variety of the same design, you can have less than six colours variety in your print-on-demand store for a particular design.
5. Usage Of Copyrighted Images:
There are generally two ways to obtain designs to run your print-on-demand business. One is creating your design; the second is using copyright-free designs. While following the latter option, you need to be cautious. Before using the image, you need to know if it is for commercial use; if not, you’re not allowed to use them. Even quotes and phrases have copyright, so it’s always recommended to verify if the design you plan on using is for commercial use.
6. You Don’t Need To Sell Cheap Products:
Another myth in print-on-demand business is that there is a price bar for products you sell. However, in reality, there is no such restriction. If you supply quality products, you can charge a premium price, and your customers will be ready to pay the price if they are satisfied with your products. Additionally, you can also research your competitors to know the ballpark and alter your prices accordingly.
7. Use Paid Advertisement:
Even if you have a handful of designs listed on your eCommerce store, if you’re not driving any traffic, your efforts are directly going to the trash. Hence, you need a mixture of both organic and paid traffic. Many people out there think that Facebook ads don’t work anymore. However, Facebook is still one of the best platforms to drive traffic to both B2B and B2C businesses. When Facebook ads are leveraged wisely, you can redirect tons of traffic to your ecommerce store. However, the conversion depends on the quality and appearance of your POD store, price, products, and design.
Print On Demand Ideas For Successful Print On Demand Brands
Here are some print-on-demand business ideas:
- Custom T-Shirts: Create custom T-Shirts with unique designs for specific niches like sports teams, fan clubs, or special events like weddings and birthdays.
- Home Decor: Design and sell custom poster frames, posters, and canvas prints with popular themes like travel, inspirational quotes, or pop culture.
- Phone Cases: Offer custom phone cases with unique designs for specific phone models and styles.
- Stationery: Create and sell custom notebooks with unique designs for specific niches like bullet journaling, productivity, or creativity.
- Accessories: Create and sell custom accessories like button badges, mousepads, and luggage tags with unique designs for specific themes.
- Baby Clothing: Offer custom baby clothing with unique designs for specific niches like baby showers, newborns, or milestones.
- Sports Merchandise: Design and sell custom merchandise for sports fans like hats, jerseys, and drawstring bags for specific sports teams or events.
- Gifts: Create and sell custom gifts and souvenirs with unique designs for specific locations or events like weddings, birthdays, or festivals.
- Eco-Friendly Products: Create and sell eco-friendly products like reusable bags, water bottles, and coffee mugs with unique designs for sustainability-conscious consumers.
These are just a few examples of print-on-demand business ideas. You can explore other niches and product categories that align with your interests and skills.
Conclusion
With that, we have come to the end of the blog. The 7 practices mentioned above are the foundation for a scalable print-on-demand business. In the long run, your product, marketing efforts, and customer service pile up and help you position your business as a brand. If you are looking for a printing partner, check qikink.com to know more.
Frequently Asked Questions:
Is a print on demand business profitable?
Yes, a print on demand business can be profitable. It depends on several factors like the quality of your designs, demand for your products, the price you set, and production costs.
Print on demand eliminates the need for upfront inventory costs. Instead, you order products from your supplier after receiving customer orders, which reduces risks and investment.
But, profit margins may be lower than businesses buying products in bulk. You need to price your products correctly to cover production costs and make a profit.
Success and profitability depend on creating unique and high-quality designs, marketing products effectively, and managing costs efficiently.
How to start a print on demand business?
Here are the basic steps to start a print-on-demand business:
- Choose a niche: Decide on the products you want to sell, such as t-shirts, phone cases, or coffee mugs. Research your target audience and competitors to identify a profitable niche.
- Create designs: Create unique, high-quality designs that appeal to your target audience. You can use design software or hire a freelance designer to help you.
- Choose a print-on-demand platform: Sign up for a reliable pod platform that offers the products you want to sell.
- Set up an online store: Choose an e-commerce platform, such as Shopify or WooCommerce, to create an online store. Integrate the print-on-demand platform with your store to automate order processing and shipping.
- Market your products: Use social media, content marketing, and paid advertising to promote products and attract customers.
- Analyze and optimize: Use analytics tools to track your sales and customer behavior. Use the data to optimize your product offerings, pricing, and marketing strategies.
What is the print on demand business plan?
To create a print-on-demand business plan, you should consider the following:
- Write an executive summary describing your business goals and unique value proposition.
- Conduct market research to understand your target audience, competitors, and industry trends.
- Decide the products and services you plan to offer, including the design, materials, and printing methods.
- Develop a marketing and sales strategy that outlines the plan to reach your target audience and generate sales.
- Detail your production process, including order processing, printing, quality control, and shipping.
- Estimate your startup costs, revenue model, and financial projections to determine the feasibility and profitability of your business.
- Define your team roles and management structure.
Creating a print-on-demand business plan requires careful consideration and planning. By identifying your goals, target audience, and production process, you can develop a roadmap for success.