If you have always dreamed of setting up a business from the comfort of your own home, then you are far from alone. Since the COVID-19 pandemic, more people than ever before have handed in their notice and decided to set up shop for themselves. Offering freedom, flexibility, and convenience, home-based businesses generate a whopping $427 billion every year.
So, why choose to venture into the printing industry?
A thriving sector that is perfect for creatives, you can experiment with different product designs, putting your talents to good use.
Not sure where to even begin with starting your own printing business? Explore our step-by-step guide to how to launch a successful home printing business, with tried and tested tips that guarantee to give you the edge over your competitors.
Step 1: Pick a niche
When starting a home printing business, you need to focus on a particular niche rather than trying to sell as many different products as possible. Take the time to research the market and see if any products are high in demand but low in supply.
Also, consider where your passion and talents lie, as this can help to determine the best printing niche for your new venture. There are lots of different marketing and advertising techniques that you can use, such as print shop discount strategies, social media marketing, email marketing, outdoor advertising, and branded merchandise.
Step 2: Write a business plan
Every new business needs a business plan, as this will ensure you stay on track with your plans and don’t miss any vital steps when launching a new business. Also, if you intend to ask for a bank loan to fund your new business, they will ask to see your business plan before lending you any money.
For those who haven’t written a business plan before, it can be useful to download one of the free business plan templates that you can find online.
Step 3: Choose a name
One of the most exciting parts of launching a new business is choosing the name for your new print shop. Ideally, you want a name that is simple but memorable.
You must also make sure that the name you select is available for domain registration, as you are highly likely to want to create your own website to promote your business.
Step 4: Purchase equipment
To ensure you can deliver what your target audience wants, you need to invest in high-quality printing equipment and supplies. Depending on the space you have available and the funds you have at your disposal, you may want to start with just the essential pieces of equipment and then buy more specialist items further down the line.
You also need to ensure you apply for any permits or licenses required for the equipment you choose, as well as any web-to-print solutions.
Step 5: Attract customers
Often, the hardest part of launching a new business, if you want to survive the first make-or-break six months, is putting strategies in place to attract customers.