Starting a business is an exciting journey filled with ups and downs be it a small home business or a multimillion dollar project brand, careful planning and strategic excution are crucial for success.
This post will walk you through the pathways or steps to starting a business and transforming your vision to reality.
As a soon to be business owner, having a good business plan serves as a roadmap for your venture.
Below are the guidelines to starting your own business:
- Identify the business idea that aligns with your skills, interest and popular demand.
- Always conduct market research to understand your target market to create in-demand product and services.
- Write your business plan, it will guide you through your venture.
- Choose a legal structure.
- Register your business and get the necessary permit.
- Get your capital ready.
- Set up your business operation.
- Develop a marketing strategy.
- Launch your business.
- Analyse and Grow.
Starting a business has never been an easy task and so requires dedication, creativity and relentlessness. Remember, Rome wasn’t built in a day, keep learning and never give up till you make it.
AskFrankey carefully researched and crafted these businesses that are easy to start up without breaking the bank. They include:
1. T-shirt printing
In recent years, the custom t-shirt printing business has seen a rapid increase, driven by the demand for personalised fashion and branded apparel. If It ever crossed your midnd to start up a t-shirt business, now is the perfect time. With appropriate planning, right equipments and creativity, you can take over the fashion industry and build yourself a profitable brand.
There are certain key steps to guide you through this journey of starting and running a successful t-shirt printing business.
Let’s talk about the advantages of starting a t-shirt printing business
- Low startup cost: starting a t-shirt printing business requires minimal cost which will be further discussed in this post.
- Freedom of creativity: You can express your creativity designing and printing on t-shirts.
- Increase demand: There’s a high demand for custom t-shirts for events, businesses and personal use.
- Scalability: You can always start your t-shirt business from your garage and expand into a full-scale business overtime.
Starting a t-shirt printing business requires investing into the right equipments to ensure high-quality products and efficient production.
Below are the necessary equipments needed with their various price range to help you get started.
- Heat press machine
This machine is crucial for transferring designs onto t-shirts. There are manual heat press machines and the automatic heat press machines. It all depends on your production needs.
A mini heat press machine on aliexpress will cost $70, 8 in 1 heat press machine will cost $114, 15 in 1 heat press machine will cost $179. It is advisable to get the combo package of your choice.
- Printer and Inks
There are three kinds of printers that can be used for your t-shirt printing business which are:
– Inkjet printer: Ideal for beginners and small-scale production , especially for heat transfer printer, this printer has a price tage of $50 on the amazon website.
– DTG (Direct-to-Garment) printer: Best printer for high-quality, full color designs direct on fabric. This DTG printer cost $2,899 on the amazon website.
– Sublimation printer: Great for polyester shirts and vibrant, long-lasting designs. It cost $400 on amazon website.
Pigment based inks for inkjet printer, sublimation ink for polyester materials, and specialised textile for DTG printers.
- Vinyl cutter (optional)
This cutter allows you cut customs designs for transfer onto t-shirts, that is if you plan to work with heat transfer vinyl (HTV). This piece of equipment will cost $11 on amazon
- A laptop or deskop
A reliable computer with graphic design software such as adobe illustrator, adobe photoshop, corelDraw or canva is essential for creating and editing designs. You can choose to buy any laptop of your choice within your budget range, there’s the HP, Mac, Dell and so on.
- Transfer paper
Transfer papers are essential for printing designs and transferring onto the T-shirt. The type of transfer paper depends on the printing method and fabric type (light or dark t-shirt). The dark transfer paper is sold for $19.99 on amazon and the light transfer paper you can get for $16.49 on amazon
- T-shirts (Blanks)
Stocking up blank t-shirt in various colors, sizes and materials preferably cotton and polyester should be the first on your list. You can get high quality blanks from jiffy website for as low $2.68 for the Gildan brand and $7 for the comfort color brand
After designs and processing, you can choose to put a price tag of $25 or more on each t-shirt. so let’s say you buy 500 Gildan blanks at $2.68 x 500 = $1,340. Then you sell at a price of $25 for each, $25 x 500 = $12,500. Your profit will be $12,500 – $2,340 = $11,160. Looks good right?
- Drying equipment (for DTG printing)
You can shoose to use either a heat press or conveyor dryer to cure the ink and set the designs.
- A workspace
The last on the list is your workspace which is very crucial for production efficiency when setting up your business. You can choose to convert your basement, and empty room or your garage to your workspace and storage.
2. Leather Crafting
Leather crafting is a lucrative art that combines creativity and craftmanship. There is a steady increasing demand for handmade goods such as bags, belts, shoes, wallets and other accessories, so starting a leather crafting business can be a life changing rewarding venture to indulge in.
Let’s explore how to launch and grow a successful leather crafting business.
Remember, you need to learn leather crafting to be able to practice it efficiently.
Firstly, I’ll give you valid reasons why you should start a leather crafting business:
Leather crafts are known to be durable, and luxurious . By offering high-quality custom items, leather crafters can tap into a lucrative market. Here are some reasons to sonsider starting your own leather crafting business.
- There is high demand in custom leather crafts
- It is a platform to showcase your art and creativity
- Home-friendly workspace. You can choose to start in a small room in your house or your garage.
- Profitability
- Scalability
Esential steps to start a leather crafting business
These steps will guide you to successfully startup you own leather crafting business:
- Learn leather crafting: Before starting your own crafting business, it is essential to invest time in learning crafting techniques by enrolling in workshops, surfing youtube for tutorial videos and put into practice.
- Have the appropriate tools: What makes a good craftsman are his tools, for he is nothing without them. Creating quality leather products, you need good tools and materials. The materials needed will further be discussed in this blog.
- Pick your niche: You can choose to be a general leather craftsman or you can niche on wallets, belts, bags and shoes.
- Have a business plan: A business plan serves as a roadmap to all businesses. If you want to have your brand active for the longest of time, having a business plan is crucial.
- Build a strong brand: Invest in a unique name and logo that makes yoour brand outstanding.
- Get an online presence: Putting your business online is essential for reaching target audience beyond your local market.
- Publicise your brand
- Price your crafts
Always focus on producing high quality products for your target audience and continue learning.
Necessary equipments for your leather crafting business
A craftman is nothing without his tools, so Invest in the appropriate tools if you want to create high quality leather products. Here is a list of the tools to get you started:
- Cutting tools: Rotary cutters, utility knife, leather shear, and cutting mat.
- Measuring and marking tools: Steel ruler, wing divider, edge creaser, and scratch awl
- Stitching tools: Diamond chisels, stitching awl, needles, waxed thread, and clamping tool.
- Edge finishing tool: Edge beveler, burnishing tool, sanding block .
- Punching tools: Hole punch, and Round punch.
- Dyeing and finishing tools: Leather dye, sealant and sponges.
- Hardware setting tools: Rivet setter, snap setter, and grommet setter.
- Skiving tools: Skiving knife, and safety beveler.
- Embossing and stamping tools: Stamping tools, and mallet.
- Safety gear: Protective gloves, ventilation system and sturdy workbench.
- Sewing machine.
- Heat press.
- Laser cutter.
It is one job to invest in your tools, it is another to maintain them properly.
3. Perfumes
The perfume industry is a booming market, with global sales expected to continue growing as consumers seek unique quality fragrances. For entrepreneurs, starting a perfume business can both be creative, lucrative and profitable. However, success requires strategic planning, effective marketing, and a deep understanding of your target audience. In this guide, we’ll explore key steps to building a thriving perfume business.
Reasons to start a perfume business
The perfume business industry offers countless opportunities for creative entrepreneurs. Here are a few reasons why it’s worth giving a shot:
- High demand in unique quality fragrance for personal use or gifting.
- Scalability
- High profitability
- non perishable
- Room for innovation
- Requires little startup capital
Steps you should take when starting your perfume business are listed below:
- Identify your niche: Consider the following niches when starting your perfume brand. Luxury fragrances, eco friendly and organic fragrances, influencer collaboration or celebrity-inspired, and customisable fragrances.
- Research and develop your product: Source quality ingredients, hire a professional perfumer, and conduct product testing, gather feedback on scents, longevity, and packaging.
- Build a strong brand: What makes a brand stand out is its unique logo design, name, packaging and products.
- Establish online presence: Build a custom, friendly and mobile responsive website for your business, utilise Social media to reach target audience outside your local market, and invest invest in influencer marketing.
- Good customer service: Fast shipping, personalised experiences, and responsive support.
- Analyse and grow: Track sales, monitor websites analytics, and gather customers feedback.
You can build a brand that stands out in the industry, stay creative, stay strategic and always study your target audience.
4. Baking
The baking business is a booming business due to continuous rise in demand for custom cakes, artisanal bread, and special pastries. If you have a drive for baking and a desire to turn your hobby into profit, now is the time to get started. This post will guide you through the essential steps to build a successful baking business.
Food is a necessity for every human. Hence, continuous requests from customers. Baking is more than creating delicious treats, it is aboiut bringing joy to people’s lives.
Reasons to start your baking business
Here are a few reasons to consider starting your baking business today:
- Creative expression: Express your art and creativity through your cakes and pastries.
- Flexible business model: Choose between a home-based bakery, online orders, or a physical storefront.
- High demand for products.
- Scalability.
- High profit potential.
Steps to guide you through
- Select your niche: Specialising in a niche helps differentiate your business from competitors. Consider these popular niches; Celebration cakes, artisanal bread, diet-specific treats, cookies and pastries. You can choose to do all as well.
- Develop your recipes and products: Quality products bring customers back as it is the key to building a loyal customer base. Test and refine your recipes, source high quality ingredients, and offer variety.
- Build your brand: A strong brand helps you stand out from the crowd while connecting with customers. It is advisable to invest in a unique name, logo, and packaging.
- Set up your business legally: Do your due diligence by complying with local regulations. Obtain permits and licenses, register your business, and get insurance if necessary.
- Online presence: Build your website, utilise the power of social media to reach target audience beyond your local market.
- Master and draft marketing strategies.
- Exceptional customer service.
Starting a baking business can be fulfilling and profitable when all steps are followed appropriately and strategically. With the right recipes, branding, and marketing, your bakery will stand out from the crowd while captivating customers.
Equipments needed to start your baking business
- Ovens: A reliable oven is necessary to keep your bakery functional. It can be a convection oven, deck oven, or home-based option.
- Mixers: They save time and effort when preparing large batches of dough or batter. They include; stand mixers, planetary mixers, and hand mixers.
- Baking pan and trays: Cake pans, muffin trays, loaf pans, and baking sheets.
- Cooling racks.
- Measuring tools: measuring cups, measuring spoons, and digital kitchen scale.
- Mixing bowls.
- Spatula, and whisk.
- Dough sheeter (Optional).
- Rolling pins.
- Sifters and sieves.
- Storage containers: Airtight containers, and food-grade bins.
- Refrigerator and freezing unit.
- Piping bags and nozzles.
- Decorating tools: Cake turntables.
- Proofing cabinet.
- Cutting tools, pastry cutters, dough scrapers, and knives.
- Packaging supplies: Boxes, wrapping materials and labels.
- Cleaning supplies: Dish racks, sponges and brushes.
Investing in high quality baking equipments is one job, maintaining the equipments is another. Start with the essentials and upgrade as your business grows.
GOODLUCK AND GODSPEED!