For those of you that might be new to print on demand, it is a print provider service that allows you to print and sell your own custom products without having to carry any inventory. You can sell custom products like t-shirts, posters, mugs, leggings, and more! Print on demand is a great way to make money online without having to invest in a lot of inventory upfront. A profitable print-on-demand shop is truly possible!
You send POD’s (print on demand companies) your order, and they will print the product and ship it to your customer. A win-win for everyone!
Can You Make Money on Print on Demand?
There are a few things to consider when wondering if print-on-demand is profitable. Competition, price of products, and shipping costs will affect how much money you take home at the end of the day.
Print-on-demand businesses have a much lower overhead cost than traditional print shops, which means that they can be profitable with fewer sales. You’ll still need to do your research and make sure you’re offering a competitive product, but print on demand can be a great way to get started in the eCommerce world.
Check out this blog post for the pros and cons of using a print on demand if you are still not sure if they are good for you and your shop.
The first thing to consider is your competition.
There are many print-on-demand companies out there, so you’ll need to find a way to stand out. Do your research across print-on-demand companies for the same product. Check each site to see how much their product cost and shipping would total. Then choose the cheapest, but the best quality, option for your shop. This will lead to the highest profit for you.
In the beginning, I ordered a few sample products from different print-on-demand companies to check the print quality, shipping times, and customer service. This allowed me to find the best print-on-demand company for my needs and also understand what my customers would be expecting in terms of quality. Quality control across print-on-demand services is important to take your time exploring.
Once you have found a print-on-demand company that you like to work with, it’s time to price your products.
Pricing Your Products For Your Online Store
You’ll need to find a balance between a price that is low enough to attract customers, but high enough that you’re making a profit. I recommend starting with a lower price and then gradually raising your prices as you gain more experience and reviews.
Print-on-demand companies usually have a base price for their products, then they add on a markup percentage. For example, if a print-on-demand company charges $10 for a t-shirt retail price and you want to markup the product by 20%, you would sell the shirt in your store for $12.
But that is not the only cost you need to consider.
You’ll need to consider your shipping costs.
Shipping can be expensive, so you’ll need to factor that into your prices. Always make sure you look up the shipping costs ahead of time from the print-on-demand company so that you can communicate the accurate price to your customers.
There are two ways you can approach shipping prices.
- Set a “free shipping” tag across your shop. This means that you have included the shipping cost in the total price that you are charging for your product. Many customers like seeing free shipping, as it feels like they’re getting a deal.
- Or, you can charge for shipping and be upfront about it with your customers. This is usually the most profitable way to do things, as long as your prices are still competitive.
What costs do factor into your total price to make print on demand profitable?
- Product cost from print on demand company
- Shipping cost (calculated from POD)
- Profit margins set by you
- Shop fees from Etsy, Shopify, etc.
- Taxes
Once you have calculated all of the above costs, you have your price for your customer. Play around with the profit margin until you find what works for you and is bringing you consistent sales.
How do I know if my shop is profitable?
Try an online company like QuickBooks to help keep track of your expenses and profits.
Quickbooks is an amazing tool that can help you see whether or not your print-on-demand shop is profitable. You’ll be able to see exactly how much money is coming in and where it’s going out. This will help you make changes to your pricing, find new print-on-demand companies, and understand your customer’s buying habits.
It is important to keep track of how much money you’re spending on ads, print-on-demand products, shipping, and shop fees. This will help you see what areas you need to cut back on or where you can make more profit.
QuickBooks offers a free trial, so I recommend trying it out to see if it’s a good fit for you and your print-on-demand business. They even have a specific small business account to make sure you are covered every step of the way in your new adventure.
Their tools include :
- Income and expense tracking
- Profit and loss statements
- Balance sheets
- Invoice management
- Advertising campaign tracking
QuickBooks can help you run your print-on-demand business more profitably by giving you the insights you need to make changes in your business. Try it out today and see how it can help you!
Now that you have your print-on-demand products priced and ready to go, it’s time to start promoting your store.
There are a few ways you can do this:
1. Social media platforms like Instagram, Twitter, and Facebook are great places to start. Create posts that show off your products and use hashtags that relate to your niche.
2. Utilize Google Ads to create ads that will show up when people search for keywords related to your products.
3. If you have a blog, write blog posts about topics related to your products and include links back to your print-on-demand shop.
By following the steps above, you can create a print-on-demand shop that is profitable and enjoyable to run. It takes time and effort to get things started, but it’s so worth it when you see your first sale come in. And once you’ve built up a following, the sky’s the limit!
Conclusion:
Print on demand can be profitable if you do your research and find a way to stand out from the competition. Good luck, you’ve got this!