What You Need to Know About Starting Your Own Mug Printing Business
Mug Printing is one of those low-cost startup businesses. If you have a decent computer and are starting from home, an investment of $2,000 for supplies, software, equipment, stock, and setup fees will get you up and going.
You can expand as you become familiar with the business. But before you get ahead of yourself, there are many considerations I’d like to share. In addition to my tips, you will have access to a collection of articles located further down the page written by a variety of authors, giving you an overview of the mug printing business.
Let’s get started!
Will you Operate Full-time or Part-time
A mug printing business can be operated full-time or part-time. It may be a good idea to start part-time, and once you gain some momentum, and you find it profitable enough to support you financially, you can switch to a full-time business. Or you may be the type of person that puts everything they have into a business, and you want to go full-time from the start. It’s something you need to decide on before you begin.
Looking At Profitability
Here’s an example, and it opens your eyes to the potential if the orders are available.
Let’s say you have an order from a company that wants its logo printed on 500 mugs. You make a profit of $1.50 per mug. You can print 60 mugs per hour. In one hour, you could be making $90. If you have an employee printing the mugs and paying them $16.00 per hour, you still have a $74.00 profit. Take out 10% for operating costs and miscellaneous, and you’re still making $66.60 per hour.
Here’s where it can get interesting. For example, if you can get large orders that can keep an employee busy for seven straight hours, you could end up with a profit of $466.00 per day.
Or if you had enough orders to keep ten employees busy, you could have a profit amounting to $4,666.00 per day.
Another way of looking at profitability is the small one-mug orders. In this case, your profit per cup is from $5.00 to $10.00 on average. Since each graphic is different for each mug, you won’t be able to make 60 mugs per hour, say, for example, you can make four per hour, which is a more considerable profit margin than the first example with less work.
You’ll process both types of orders and keep in mind both methods require one key component, getting the orders, and that’s the tricky part.
How Will You Market Your Mugs?
Getting customers is the downfall of many businesses. It’s one of the most challenging areas to master in business. First, you must figure out why anyone would buy from you rather than the competition? What can you bring to the market that’s better or different than what’s available?
When it comes to competition, a lot of business owners focus on price reduction as their number one tactic. One problem with this is that everyone keeps bringing down the price to the point where there isn’t any profit left to keep your business afloat.
With mug printing, an advantage you have is the designs you provide. You can come up with catchy slogans and professional designs printed on stylish mugs. This originality can be the edge you need to get your foot in the market.
Will you market your mugs to businesses, or will you focus on the local retail or wholesale market, or will you market online? You may even be considering a bit of everything, but with that approach, it’s too broad at the startup stage. It’s better to focus on one area, master that and then expand into other forms of marketing. You need to figure out how you market your mugs because without sales, even with a low-cost startup like this, it will fail.
Dropshipping or Produce Yourself
If you have a strong market, you may want to consider Dropshipping or outsource the work to focus on sales and designs.
There are drop shipping companies that will ship your mugs directly to your customer as if the product was being shipped from you. It is something you can consider when you have a strong enough market.
Another alternative to boost productivity when you have large orders is to outsource the printing. You could find a company that can produce mugs, print your design, and ship the order to your doorstep.
In addition to printing on mugs, you could offer related items. There are many promotional items you can expand into, as well as caps and t-shirts. If you’re including promotional items, your business wouldn’t be just mug printing but silk printing and promotional items.
The startup cost of this type of business is more expensive than mug printing, but it’s something worth looking into if you plan to expand. Also, if you plan on expanding into promotional items and silk printing, don’t register a business name only suitable for mug printing.
Resources – A Collection of Hand-Picked Resources You’ll Use For Your Mug Printing Business.
Below are the Resources for the fine details of starting your own mug printing business. Each article takes time to go over, and you may become overwhelmed trying to take in all the information in one sitting. Therefore, you may want to bookmark this page so you can return.
A Collection of Resources Related to Starting Mug Printing Business
Sections Included In This Post:
- Considerations Before You Start a Business
- How to Start a Mug Printing Business
- Mug Printing Business Startup and Operating Costs
- Mug Printing Business Equipment
- Licenses Needed to Start a Business
- Business Insurance
- Employee Considerations
- How to Finance Your Business
- Business Name Ideas For Mug Printing
- Business Plan
- Business Cards
- Business Logo
- Mug Printing Business Software
- Franchise Opportunities Related To Mug Printing
- Established Businesses Related to Mug Printing
- Resources for Running a Business
- Publications Related To Printing
- Printing Terminology
- Latest Search Results Related to Mug Printing
- Latest News Related to Mug Printing
- Tweets Related to Mug Printing
- Videos Related to Mug Printing