Enamel Pins - A Booming Business with No Set Up Costs
What are enamel pins? Let's be real; how can you sell something without knowing what it is.
Enamel pins are mostly an inexpensive accessory that serves multiple purposes, and it is their quality to be used in almost any situation that makes them a perfect business opportunity. And it is becoming popular now.
Any entrepreneur worth his salt will tell you that setting up a business has 4 steps:
- Product Design
- Source your materials
- Marketing and Logistics
It's a scalable business that has roots in so many markets; you could sell it to fashion aficionados or a corporate conglomerate, you can market it on Instagram or go around town selling it door to door.
Moving on the steps, the first step is product design, and this is relatively easy.
Designing isn't exactly rocket science; it doesn't have to be extremely complicated or witty, etc. (it doesn’t hurt but isn’t necessary by any means) for a product to be an instant hit, it needs to resonate with your target market. Sure enough, they'll sell out before you know it.
If that doesn’t satisfy your creative voice, you can always use vector programs to get designing, but in my experience, good ol’ fashion pen and paper often do the trick.(Pro tip: if you’re facing a creative block, you can always outsource your work)
Sourcing the Materials
Sourcing the raw material can be a little tricky, which is why I often suggest our reader to use solutions in which they can altogether avoid this hassle and focus more on the design and logistics.
There are multiple online solutions that can help you produce your custom enamel pins products. Keep in mind that a high-quality pin can go up for up to $7-8, which means you've got a massive margin already.
It can be often cheaper to produce your own products and might increase your profit margins giving you more wiggle room when it comes to marketing expenditures.
There is little chance that you can produce the pins at home unless you own stamping equipment and have some experience handling it, there are multiple workarounds that you can experiment with until you find the one that fits your needs.
One such example is the use of online manufacturers like vivipins.com that allows you to customize your result down to the T. As a bonus since you deal directly with the supplier. YOU get the best possible prices.
Marketing and Logistics
It is one of the more challenging aspects of setting up a business, and so will be emphasized more in this piece.
The first step to marketing is locating your target audience, the demographic you want to target, if you’re an up and coming fashion enthusiast, the best way to get a firm footing into the enamel pin industry is social media, namely Instagram and Facebook.
Once you have your product line ready, get a hold of a few social media influencers and send them some of your pins and ideas on how to use them. It is perhaps the most cost-effective way to establish your home business.
Another way to get yourself seen is by the use of Facebook or Google AdSense, which may seem expensive but is an excellent way to broaden your horizons so that you can maximize your output and let these conglomerates worry about getting the customers.
One of the most crucial parts of establishing a business is gaining customers that trust you, which means you must make your operation happen seamlessly. Offering same-day delivery even if it costs you a tad more can mean the difference in either your venture gaining momentum or struggling to break even. Once you’ve established yourself as a name in the game. Use services such as Shopify to enhance your operation further and give yourself greater control.
If you've been following me this far and you're thinking, "This is far too complicated," then don't give up just yet because there is something more that you can do, and that is DROPSHIPPING.
What drop shipping essentially is that you purchase the pins in bulk from suppliers on AliExpress and ship the products directly to the buyer, this ensures that you get your cut for finding your product but don’t have to go through the hassle of designing or logistics.
Ask The Expert
Coming from a veteran of the pin industry.
- Don’t limit yourself to a particular industry. You can always target new markets. For example, if you've been specializing in fashion, don't hesitate to expand into offering your services to corporates and institutions as you can score huge orders that might give the push your business needs.
- Art theft is real. It will become cumbersome to protect your pins from low lives who'll steal your designs to make a quick buck, make sure that you remove any third parties from the supply chain, and ensure that you keep producing new, unique designs so that you always have an edge.
- Produce a strong portfolio pre-launch to get your customers hooked to your products. You must ensure that once a potential customer stumbles upon your collection, they can’t help but purchase multiple pins, make sure that you have enough variety to offer something for every person more so that your collection doesn’t get boring.
My word of advice to anyone entering this industry is that don't shy away from the opportunity.
If you have the slightest idea for a pin that might be intriguing to people, a quick google search can help you manifest your concept in the physical realm. The demand for such pins is on the rise, and small-scale businesses can often make it big.
Remember that a small step is still a step. Mention any points we might’ve missed in the comments below.