If you’re looking for a new revenue stream for your business, look no further. Print-on-Demand is your solution to increasing profits through quick and easy product creation and online sales.
Whether you’re a seasoned entrepreneur or working your first side hustle, let’s explore the ins and outs of this exciting new business opportunity so you can decide if it’s the right venture for you.
What is Print-on-Demand?
Print-on-Demand (POD) is a business model that lets you create a variety of products without the typical retail costs. A third-party vendor like Printful manufactures, packs, and ships your products to your customers for you.
No more worrying about:
- Inventory Management
- Product Manufacturing
- Equipment Maintenance
- Logistics & Shipping
All you have to do is pay for the products once they’re ordered. This lets you focus on design, marketing, and customer service so you can launch a new revenue stream for your business.
What Type of Products Are Available for Print-on-Demand?
While every POD platform is different, some products are universal.
- Hats: Beanies, Baseball Caps, Snapbacks, Trucker, 5-Panel, Buckets, Visors
- Tops: T-Shirts, Polos, Long Sleeve, ¾ Sleeve, Dresses, Crops, Tanks, Hoodies, Sweatshirts, Jackets, Vests
- Bottoms: Pants, Shorts, Sweatpants, Joggers, Leggings, Skirts, Pajama, Track
- Footwear: Shoes, Socks, Flip Flops
- Accessories: Bags, Backpacks, Danny Packs, Phone Cases, Tech Accessories, Pins, Patches, Hair Accessories
- Home Goods: Mugs, Water Bottles, Wall Art, Decor, Stationary, Towels, Pet Products
With plenty of options for men, women, and children, every product is a perfect match for your design or brand. But while most products are an easy sell, the POD model still has its share of pros and cons.
Get Started with 14-Day FREE TrialWhat Are the Pros and Cons of Print-on-Demand?
We know what you’re thinking. There’s gotta be a catch. Well, with any new business, you always have to consider the pros and cons to determine if the venture is right for you.
The Pros of Print-on-Demand
- Simple Set Up – Experience not required. Just set up an online store, upload your logos or designs, and choose the products you want to sell.
- Low Financial Risk – The POD model means someone else is handling the logistics, so you don’t have to invest in expensive equipment, staff or inventory.
- Flexibility – Don’t like your product line or niche? No problem. Create an entirely new catalog with a few simple clicks.
- Time to Market – With on-demand order fulfillment, you can go from concept to market within a few hours, increasing your profits from emerging trends and viral moments.
- Brand Strength – By consistently creating merchandise that showcases your unique, engaging style, you strengthen your brand and elevate your business.
- Easy Product/Design Testing – Determining the success of a specific product or design is as simple as counting the sales without worrying about overstock.
- Remote Operations – Since you’re not tied down to a brick-and-mortar store or print shop, you can operate your POD business from anywhere in the world.
The Cons of Print-on-Demand
- Low Profits Margins – A POD business model doesn’t have the benefit of wholesale pricing. That means you’re paying more per unit than other retail manufacturers.
- Lack of Control – When working with a third-party vendor, you have to put your trust in their integrity, quality of work, and ability to meet your customers’ expectations. If their ability to get it right the first time starts waning, you’ll lose the trust of your customers.
- Limited Product Choices – Simply put, if your POD vendor doesn’t offer the products you want to sell, you’re out of luck. You either have to wait for them to stock them or pull in another supplier who offers the product you want.
- Managing Multiple Vendors – If you’re forced to work with multiple POD partners, you’re looking at inconsistencies in your product quality, shipping times, pricing, billing, and return policies.
Deciding if POD is the right choice for your business depends on you. Are the risks worth the gains and are you willing to navigate these challenges to bring in a new revenue stream? Before you answer, you need to know if POD is even profitable.
Get Started with 14-Day FREE TrialIs Print-on-Demand Profitable?
The short answer is yes.
In 2023, the global market for Print-on-Demand was worth $7.67 billion. By 2030, it’s expected to rise above $38 billion. That growth is attributed to:
- Demand for Customized Swag vs Generic Merchandise
- Ability to Quickly Capitalize on Viral Moments
- Smaller, More Specific Niches with No Service
Depending on the product, your profit margins can be as high as 60% depending on your markup.
So there’s huge potential for growth within the industry and profits within your business. But like any successful business, you have to put in the work.
How Do I Start a Print-on-Demand Business?
Before you launch your POD business, there are a few things you need to figure out first.
Choose a Niche
Defining your niche, or specialized market segment, strengthens your brand, reduces the competition and results in higher profits. It could be something adjacent to your current industry or something totally different.
Some popular niches you might try:
- Beauty & Fashion
- Health & Wellness
- Travel & Hospitality
- Holidays
- Food & Restaurants
- Coaching & Consulting
- Real Estate
Find a niche that aligns with your brand. And do your market research so you understand your audience, what they like, and what they want to buy.
Name Your Business
Choosing a name for your new business venture isn’t always as easy as it sounds. Your name needs to be memorable, easy to spell/pronounce, and meaningful.
It also needs to be broad enough to allow you to expand when you’re ready. Imagine if Home Depot opened its first location under the name Hammers R Us.
And don’t forget about your domain URL and social media accounts. Lock everything in, even if you don’t launch or use them right away.
Create Your Designs
The right design can connect and resonate with your customers, bringing in hundreds or thousands of orders. Of course, the wrong design can have the opposite effect.
Find inspiration in the world around you or from sites like Pinterest, iStock, or Dribbble. But don’t steal or plagiarize someone else’s art. That’s just not cool. Plus, it’s illegal.
If you need help with your design, hire a professional graphic designer. If you’re looking to work with a small start-up budget, check out Fiverr, Upwork or 99designs to find quality work at an affordable rate.
Select Your Products
With an almost unlimited variety of product options, it might be difficult to narrow it down to just a few.
Despite the overwhelming urge to offer every product in every color, providing too many choices can result in analysis paralysis, a condition where too many options cause decision-making to come to a crashing stop.
Begin with a limited selection of products and colors. If something isn’t selling, switch it out for another product or color.
And make sure your product and color options align with your niche. For example, selling Norwegian Death Metal shirts in a variety of springtime pastels might not be the smartest business decision.
Set Up Your Store
Every POD platform is a bit different, but the setup process is typically a straightforward process that’s easy to walk through. Take your time, take advantage of pre-built or customizable templates, and make sure everything is done properly.
Mix and match your products, designs, and colors. Order a few samples to check the quality of work. If everything’s good, then you can set your prices and open your digital doors for business.
Market Your Products
Once your POD store is live, it’s time to market your products so your customers know what you’re selling.
- Social Media – Attract, connect and engage with your customers so they’ll want to buy your products.
- Influencers – Collaborate with reputable influencers who are known for endorsing products they like.
- Paid Media – Put your product in front of more targeted prospects and build their interest.
- Build a List – Once you start pulling in customers and prospects, you can start building an email list to promote new merchandise or swag.
Watch Your Performance
Once you’re live, you need to monitor your sales to determine what’s a hit and what’s a miss. You’ll also want to track your marketing to measure the effectiveness of your campaigns. Luckily, you can gauge interest and boost visibility with HighLevel’s eCommerce analytics.
Get Started with 14-Day FREE TrialIntegrating Printful into HighLevel
And now you can launch and support your own POD business through HighLevel’s new Printful integration! All you have to do is connect your Printful account to your GHL Ecommerce store to take advantage of this great way to generate a revenue stream for your business.
To get everything integrated – install the Printful app from the App Marketplace and connect your GHL sub-account to your Printful store. You can then import your Printful products into HighLevel and publish them in your online store. All new orders through GHL will be synced with your Printful account to prevent any discrepancies or lost orders.
And the best part? Any updates in Printful related to product creation, deletion, updates, or fulfillment is synced live to your Ecommerce store. That means seamless synchrony between your GHL and Printful accounts so you can start selling your new product line today!
Build New Revenue Streams with Print-on-Demand
By understanding the POD business model, navigating its pros and cons, and the steps involved in starting your own venture, you can tap into a growing industry to build new revenue streams while strengthening your own brand.
So what are you waiting for? Activate the new Printful integration so you can get your Ecommerce store up and running.
And if you’re not a HighLevel user already, get ready to be even more awesome. Try HighLevel’s all-in-one platform with our 14-day FREE trial. You’ll have access to all the tools you need to set up, launch, promote, and scale your business. And did we mention that it’s FREE for 14 days?
Get Started with 14-Day FREE Trial
