Overview Of Business Model
The monogramming business has great potential on the Internet. Customers can view all your services and products with clear images that they can enlarge. They can order from anywhere in the world and pay online. If you have experience in the custom embroidery and printing business, this venture has your name all over it.
Here’s how it works: The entire catalogue displaying your monogramming services and products is put on your Web site so that browsers can view your wares and place orders. Your online storefront will make it easy for your customers to put many items in their shopping cart and identify the monogramming they want on each item. You will have to provide an opportunity for your corporate clients to send you their logo in digital format for their online purchases. The opportunity for repeat business is great in this industry.
Experience in the monogramming industry and the ability to find quality products such as sweaters and T-shirts on which to embroider is required. You will need to have basic Web publishing and computer skills. Your products will be for sale in an online store, so familiarity with merchant software and secure payment processing methods is necessary.
Cost To Start This Business
The cost to start this business will include the design, development, and hosting of your Web site as well as a computer, appropriate software, a printer, a digital camera, and a scanner. An online storefront, payment processing software, and a merchant account are required to make this operation work. You will also need to have the embroidery equipment and a small inventory to perform these services. You can start this venture from home and on a part-time basis. The approximate start-up cost ranges between $4,000 and $25,000.
Number Of Employees Needed
One experienced and competent individual can start this business singlehandedly.
The international potential of the online monogramming business is promising. Most products that you can embroider on are cloth, so they can be shipped anywhere.
Important Business Issues To Be Addressed
Maintaining a strict budget while producing each order is what will ensure the profit of this business. The orders are unique and personal, so your online store should have many options and areas for the customer to include special notes and details such as the thread count of the cotton T-shirt and where the design is to be printed or embroidered.
Online Marketing Techniques
- Launching a strategic banner advertising campaign on Web sites frequented by your target market would be a great way to increase traffic to your site. Sites that you could place banner ads on include noncompeting gift sites, direct-marketing sites, trade show promotion sites, and other Web sites that would be of interest to your target market.
- Develop as many links as possible from Web sites, directories, metaindexes, and Web rings frequented by your target market.
- You could develop a Featured Product page on your site. You could change this product every week. People will continue to return to your site to see what the featured product is. You could even ask people if they would like to be notified of your featured product via e-mail. This would be a great way to encourage repeat traffic to your site. You can also provide access to the updates via RSS.
- Developing a comprehensive affiliate/associate program will increase the awareness of your monogramming business and generate referral business.
- Register in all the major search engines after making sure your site has been optimized for search engine friendliness. You can also consider participating in pay-per-click programs with the popular search engines.
- Create a mailing list of all your clients and have a section on your Web site where potential customers may join the list to find out about upcoming promotions and so on.
- Organize a reciprocal linking arrangement with marketing agencies, publications, and corporations with obvious branding.
You can expand your business by providing services such as gift registry for weddings, christenings, showers, and other special events. You can offer several levels of gift wrapping, which will help to generate additional income for this business.
You can sell banner advertising to Web sites that are noncompeting but sell to the same target market.