Are you a creative, looking to start a side hustle that can give you a profitable income whilst also allowing you to embrace your artistic side? Then, you should consider the sticker business.
Stickers which range from vinyl to face, bumper, clear, holographic, kiss cut and several others are a high-demand product that is used for decorative purposes. Stickers are also used in advertising and they are easy to ship anywhere in the world. The benefits of stickers being in high demand and the ease of getting delivered to wherever in the world have made this business one with excellent profit margins, that I can bet, you would love to enjoy.
In this article, you will learn all you need to know about how to start a sticker business.
Table of Contents
Why you should start a sticker business
Stickers are in high demand
Almost every niche makes use of stickers. Stickers can be used for decoration, labelling, creativity and art, advertising, marketing, and several other purposes. So, think of a niche that integrates any of the above-mentioned use of stickers in its operations, and you will discover that there is a large market you can sell to.
It requires a low startup budget
The startup cost for a sticker business is quite low, with as low as 100 dollars you can set it up. You can even start a sticker business from home- that eliminates the cost of leasing a space. A sticker business does not require lots of equipment, if you have a printer and papers, you can comfortably start. Also, you could use a print-on-demand company which would take care of fulfilling orders for you or consider selling it as a dropshipping product.
High Profit margin
When you consider the cost of producing a single sticker, which sometimes could be as low as 10 cents and the total profit that could be made from selling the bulk of it at maybe 1 dollar per sticker, that’s a lot of money to be made.
Other reasons you should start a sticker business include; ease of shipping, flexible learning curve, it is innovation-friendly, and also easy to encourage potential customers to buy.
How to start a sticker business
Here is how you can start a sticker business;
Select a niche and decide on a business model
Choosing a business sub-niche and a model your business will be operating on is one of the things necessary to help you start a sticker business.
If you don’t choose one and decide to explore all, you might end up getting confused about what your business should be doing and that will give a negative impression on your brand. Choosing a niche will also help you effectively plan your business marketing and advertising strategies.
Also, will your business manufacture, wholesale, or drop ship or will it be a print-on-demand? This is one of the things you will have to decide on.
Create and validate your designs
Another tip that can help you to start a sticker business that will be successful is validating your sticker designs. Your sticker designs are what makes your business USP(unique selling point), and distinguishes your brand from others, hence they need to ensure it is accurate and distinctive. Survey platforms, social media, and researching designs already existing and trending on the online markets can help you get an efficient design evaluation.
Decide on sticker types
Would you buy a low-quality product at a high amount? No, you won’t. if you can help it you would even prefer to pay a quarter of the stated price because its low-quality. The quality of your product sticker is one of the factors that will help build your brand and distinguish it from others in the market. Selling High-quality stickers will not only increase business sales and lead to customer retention, but it also affects how your sticker will be priced.
There are several types of stickers you can choose from and these types also differ in quality. High-quality sticker types you can use for your sticker business are; hologram, clear, vinyl, metallic and kraft paper.
After, you have decided on the sticker type, you can now proceed to create your stickers.
Choose your business market and allocate the price
Your choice of a business market will affect your sticker business in these two primary ways- establish your brand reputation, and impact of engagement to your business. Therefore, when choosing a market for your business you should consider the number of your business’s potential customers present in the market, whether can they afford to buy your product, will your stickers solve their needs, and can your business compete fiercely with its competitors present in the market.
Selling online will project your business faster in the eyes of your customers as most people prefer to shop online these days, so you can easily find them in online marketplaces. Websites, online stores, Print on demand companies etc., are examples of places you can choose to sell your stickers.
When considering pricing for your stickers, I would suggest pricing that would be three to four times the cost of production. This will help maximize your profits but also keep in mind that the price of your stickers must be affordable.
Promote your business with a marketing plan.
You need to have a marketing plan for your business. Ad campaigns and SEO are suitable ways you can market your stickers directly to your target market and also get traffic to your business. Influencing and affiliate marketing options would also help in promoting your sticker business to a wider audience.