5 Reasons Why You Should Start A Print-On-Demand Business
Many of us are afraid to start our own business for a variety of reasons. We are so scared to lose all the investment money, or maybe we are worried that our business will fail miserably. But what if there is a business model that goes above these fears? Well, a print-on-demand business is very close to that, and today, we will show you a few reasons why you should start a print-on-demand business.
If you are in a rush, here is a list of the top 5 reasons to start a print-on-demand business:
- Print-on-demand is a low-risk business venture with low costs.
- It can be a reliable source of passive income.
- Print-on-demand allows for experimentation.
- No need to break your head with all the technicalities of running a business.
- It allows for a high dose of flexibility.
Without further ado, join us as we break down all the advantages of starting a print-on-demand business venture.
Print-on-demand is a low-risk business venture with low costs.
One of the primary reasons why you should start a print-on-demand business is that it doesn’t require you to create the products you’re going to sell beforehand. Hence, this business model capitalizes on the “on-demand” part - the partner printing business creating the products when your customers make orders. This, in turn, eliminates the risk of you having a huge stock of potentially unused and costly custom printed products, which overall means less risk and higher profits for you.
On the other hand, the traditional product printing business model requires you to have all the printing equipment on-site. This is a costly venture by itself, but another cost that is greater than with the on-demand model is time. You will need to invest much more time in market research to find out how many products you will need to stock up. Overall, the traditional product printing business model certainly doesn’t provide much forgiveness for failure.
From the get-go, you save a lot of money by outsourcing the printing and shipping processes to print-on-demand companies. That way, you won’t need to buy printing equipment or invest money in inventory management.
All the investment you need for a print-on-demand business can be less than $100! You will need to invest in:
- Domain name
- Shopify account
- Advertising costs
- Potentially a designer (if you don’t know how to design products yourself)
It can be a reliable source of passive income.
With easy setup procedures and low setup costs, the print-on-demand business model has an immense potential to become a passive income source. If you create an excellent design backed with quality marketing, you can attract tons of people. One artwork or design could sell multiple times during a select day, making potential passive income for your troubles.
Finding the right design that could provide passive income for you will require time and patience. The important thing is to analyze what niches can be profitable for your product printing efforts. Look into what is currently being searched for on Google Trends, look for trendy stuff on Instagram and Pinterest, or play around with what works.
A combination of creativity, patience, and persistence can result in passive income from your print-on-demand business.
Print-on-demand allows for experimentation.
Another one of the great reasons why you should start a print-on-demand business is closely tied to its low risk. That allows you to take risks with the products you design.
For instance, you can add several different promotional t-shirt designs to your store at the same time and test out which ones customers like the most. Since these designs will be printed as they are ordered, you won’t need to break a bank to run your inventory.
While it might take time to find the best niche for your printed products, you won’t lose money in that process.
No need to break your head with all the technicalities of running a business.
As you outsource the technical side of your print-on-demand business to partner businesses, that means you won’t need to break your head with all the fulfilment and shipping procedures of each individual order. That’s extra important, as this allows you to focus more on the creative side of the business - creating the actual product designs that have the potential to provide you passive income.
For example, if you print your products on your own, you will need to:
- Buy a suitable print machine along with the ink for it.
- Print all the products all by yourself.
- Package all the products you print.
- Send the ordered products to customers on your own.
All the processes above are done by the printing partner you choose. Basically, you need to create the design and that’s all. This is why creating a print-on-demand business is so endearing these days.
It allows for a high dose of flexibility.
It’s a big chance that you are looking to start a print-on-demand business to escape the 9-5 grind. This business model can become such an escape, as it essentially is an online business venture.
Print-on-demand allows for location independence as all you need to run such a business is a computer (or even a smartphone) and a stable Internet connection. As you are your own boss, you set your own working hours, but also your workspace. Want to work from home with flexible hours, or your home is somewhere on an idyllic, sun-soaked island? Running a print-on-demand business allows you just that.
Those were the six main reasons why you should start a print-on-demand business. While starting a print-on-demand business is low-risk, that means there is tons of competition waiting to get their piece of the pie. Prepare for a lot of trial and error, and don’t be discouraged by failure. After all, if you go over the fear of failure, your print-on-demand business can thrive in the long term!
We're M.i.A, a growing international print-on-demand service with a huge product range, including items you haven't even thought about.
- 150+ Product Range
- Global Locations
- Enterprise Support
- On-site Customisation
Check out our Youtube video here to see how simple print on demand is with our Shopify app!