The laser engraving machine can not only be used for the production of products but also provide customers with additional business to earn income. These customer groups include not only processing manufacturers, but also hobbyists who own laser engraving machines. This article takes a few steps to help you understand how to start your own laser engraving business and whether these businesses are suitable for you.
1. Planning the business and formulating strategies
Before starting any business, formulating a clear plan and direction is a crucial issue for successful entrepreneurs.
As for the business direction, it can be seen from the scope of application of the laser engraving machine. Laser engraving machines are generally used to process non-metallic materials. The following are some tips for starting a business:
- Cloth and leather: clothing manufacturing, toys, bedding, furniture, etc.;
- Wood: furniture, decorations, kitchen utensils, models, signs, etc.;
- Ceramics: decorations, tableware, etc.;
- Acrylic: decorations, advertisements, etc.
If you are only hobbyists and do not plan to produce goods, you can also use a small engraving machine to engrave mobile phone cases or custom pens for customers to earn pocket money.
After finding the right direction, you can start thinking about other issues.
(1) What are the costs involved in developing related businesses?
① First of all, you must have a laser engraving machine. The price of the laser engraving machine of Emit Laser is roughly $699-$4000. Of course, we need to consider how many machines need to be purchased according to the size of the factory.
② Material cost. This item should be based on the size of the factory to determine the output and raw materials.
③Maintenance. For laser engraving machines, laser tubes, and other consumables (except lenses), there is a one-year warranty period, during which the company will replace them for free. The machine has a two-year warranty, but it is not easily damaged.
④Employees. If you plan to produce products, employees are essential. But if you are just a hobbyist, then you can also start your business alone. In addition, professional financial staff and lawyers should also be hired, and drafters and sales staff may also be needed.
⑤ Related products. In the production of goods, some scraps are always produced, and these surplus materials can also be processed and reused for sale.
⑥Others. This part includes factory rental costs, daily expenses of work, etc.
(2) What is the customer base?
The materials that can be processed by the laser engraving machine and the scope of application involve all aspects of life, and some commodities are almost indispensable in life. So your customer base may be business people, housewives, or even everyone.
(3) How to profit from these businesses?
①Purchase high-quality advanced laser engraving machine. The quality and after-sales service of a laser machine affect the maintenance cost, service life, processing effect, and cost recovery time of the machine. Therefore, choosing a high-quality advanced laser machine can reduce costs and profit from it.
②Pricing. Customers buying goods must be more inclined to high-quality and inexpensive goods. Therefore, your pricing will directly affect the success or failure of the laser engraving business. If the price is too low, it is difficult to obtain profits or even lose money directly. If the price is too high, customers may give up buying and choose competitors’ products. Before formulating a pricing strategy, understand the prevailing market conditions and competitive commodity prices. Knowing this will help you understand the price range in which potential customers are willing to pay for the product. But in fact, as long as you can provide high quality and bring use value to customers, you can still choose a higher price than most competitors.
③How is your product different from competitors’ products?
If your product is similar to the competitor’s product and the price is not much different, then you do not have the advantage when you just started your business. After all, customers prefer the old store. Therefore, you should launch some distinctive and creative products at this time. Of course, you can also use the remaining materials to make some small crafts, which can increase additional income and reduce material waste.
2. Commercial registration
1. Brand registration
This is a very important step. Register for the brand with the relevant organization, your business will be regarded as a formal and legal company, otherwise, you will encounter various problems. For example, if one of your clients sues you, then establishing a legal business entity (such as an LLC) can relieve you from personal liability. In addition, registering your company can also meet other important statutory requirements, such as tax filing.
2. Brand name
Many people will ignore this step and name their company at will. To choose a suitable company name, you can consider the origin of the name of a well-known company or the suggestions of others (such as relatives and employees). From the perspective of the customer, consider whether the name will cause misunderstanding by others, whether it is the same name as other companies, etc. A good company name should be as short as possible and easy to understand and remember.
3. Commercial logo
Like the slogan, the company’s logo plays a huge role in creating the brand image. The company’s logo can show potential customers that your company is trustworthy, authentic, and reliable. In order to be able to create a good logo, it is very worthwhile to find a good designer to increase some costs. Of course, if you have an outstanding idea, saving this part of the money is the best result.
4. Company slogan
A company’s slogan can directly reflect the company’s corporate culture, business, and employees’ mental outlook. A good corporate slogan gives customers a positive feeling. It can not only attract the interest of potential buyers but also create a good corporate image, which can make the company longer and develop smoother. The slogan should be novel, interesting and positive so that it is easy for customers to remember so that the brand can be kept in mind. The company’s slogan is best to appear with the company’s name and logo.
After formulating the brand name, trademark, and slogan, a website needs to be established. In the age of network information, the most convenient, fastest, and most intuitive way for customers to learn about a brand is to log on to the official website for information. It can be said that without a website, business is hard to move. The website can not only display company-related information but also become an online store. In this way, customers can directly place orders when they understand brand information. The convenience and speed of shopping for customers will also increase the favorability of the brand.
3. Brand promotion
For any brand, commercial promotion is an indispensable link. All successful startups spend a lot of time and money on brand development and promotion before their business development. This is the quickest way to make the public notice the brand. Before starting a laser engraving business, please consider your brand audience and invest appropriate funds in it.
If your customers are mostly young people, then you should create an official account on multiple social media and frequently promote your products in it, update your Twitter, Youtube, TikTok, Facebook, Instagram, and other accounts, and update website blog regularly.
If your customers are mostly business people, you can participate in more industry exhibitions, seminars, etc., issue your own business cards, and post your opinions and brand advantages in industry-related forums and blogs.
If your customers are mostly housewives, you can put your own ads in supermarkets, shopping malls, restaurants, coffee shops, etc.
Generally speaking, if you do the above plan and budget, you can start your own business. Of course, in the early stage of the business, you may face bleak sales and make ends meet, but don’t be discouraged. Perhaps some directions are not suitable for the market at the time. It may take a while for you to find the right position and get the attention of potential customers. I believe that with hard work, confidence, and determination, your business will gradually improve and gradually gain a foothold in the market.