The recent years have been good for the print-on-demand (POD) industry. In 2021, the international market for POD was at USD$4.91 billion. By 2030, its projected value is USD$39.87 billion. This only proves that this industry is continuously growing.
This is why the POD industry attracts many business aspirants like you. Firstly, this business opportunity has low startup costs. Aside from that, you don’t have to keep physical products, translating to zero inventory issues. Most importantly, you can generate passive income. If the items you design are successful, they might continue to make sales for years. While you still have to put in the effort upfront, the supplier handles most of the work.
However, dealing with competition is also tricky since the POD industry continues to expand. For someone planning to launch a POD business in 2023, strategizing is imperative, especially in terms of having a reliable partner, like Shineon. And, of course, you’ll need good designs to ensure that you’ll have loyal clients and gain more revenue.
Now how do you launch a new POD business in the first place? The following is a five-step guideline for doing so:
1. Select A Niche
Before starting your POD business, choosing a niche is a must. A niche is a market segment identified by its unique preferences and demands. Your advertising campaigns are more effective since you only focus on a highly targeted audience.
Here’s a list of markets where it’s easy to find niche business ideas:
- Animals and pet lovers
- Health and fitness enthusiasts
- Technology geeks
- Internet meme fanatics
- Astrology nerds
- Social cause supporters
However, with this wide selection of options, finding the right POD niche market that suits your needs can take time and effort. When choosing, you can always start with your interests and passions. For instance, if you like astrology, you can focus on creating and selling horoscope- and tarot-themed designs.
Using this insight, check the pages of your competitors and find out the preferences of their audiences. But keep in mind that if the market is already saturated, the level of competition is high, so entering that market will be hard. But if you can’t find any competing POD brand, you can use this opportunity to become a pioneer in that market through your, say, I Heart You ecommerce venture.
2. Identify What To Sell
After choosing a niche for your POD business, it’s time to decide what products to sell. You can start with hoodies, T-shirts, coffee mugs, Bluetooth speakers, yoga mats, or backpacks.
You can figure out which items to sell by researching what products are currently trending in your niche on Google Trends. Then see if other brands sell well and how consumers respond online. You may look at the online stores of other POD sellers and check the reviews. You might read consumer complaints and what they love about their products.
This information lets you know what products you can sell. Suppose there is an item that is always sold out and has lots of positive feedback. That can indicate that it might be a good fit for your store.
Afterward, you can set competitive prices, and devise promotional tactics how to differentiate your brand to make you stand out.
Once you’ve decided what products to sell for your POD business, the next step is to register your business. You can hire a best business formulation agency and this SmallBusinessHQ article help to choose a right business formulation agency.
3. Choose A Reliable Print Provider
Now that you know which products to sell for your POD business, look for a print service provider. A reliable one provides excellent customer service and quality printing services at reasonable prices. In addition, they’re always available to ensure that your print job is correct and according to your standard.
You must establish a good working relationship with your supplier. Good supplier relations will help make your business last.
4. Start Designing
Once you have a print provider, you may start designing your POD products. You can look for inspiration online to spark your creativity. However, avoid plagiarizing designs because it creates a negative brand image.
If you’re not the artistic/creative type, consider outsourcing a professional designer to help you with designing. Try searching through freelancing sites to find thousands of options offering competitive pricing.
5. Establish Your Online Presence
Now that you’re set, begin promoting your POD business. Promotion is essential as it makes your target audiences aware of your brand and makes them interested in what you sell.
An online presence involves establishing a digital store that includes the list of products you sell. It also consists of a website with a landing page, an About page, payment information, and a shipping details page. You can also add a Frequently Asked Questions (FAQs) page.
In addition, you also have to be active on social media channels, like Facebook and Instagram. These platforms are where you’ll connect with influencers who will create content with you. That way, they’ll drive more traffic to your digital store and increase orders for your POD products.
Summing It Up
Ultimately, a successful launch of a print-on-demand business in 2023 lies on four core elements:
- A differentiator using niche marketing
- A good online presence
- High-quality products
- A solid relationship with suppliers
If you can check all these boxes, you can make your POD business make thrive. In other words, you can generate revenue while reaching a higher market share.