Thinking about starting your own rubber stamp business? If the answer’s yes then this guide will give you all the know-how to be able to start up your new venture. Done right, a rubber stamps UK business would be very profitable and with its low start-up costs, it’s a win-win situation! It’s a business that’s easily set upright in the comfort of your own home. Sell either offline such as markets and craft fairs or set up your own website and sell online. Once you’ve built your business up and you’ve got your name out there you could even think about setting up your own studio to manufacture even more products to keep up with the demand!
You could sell stamps for many different occasions, they’d be such a cool addition to any office, school classroom or even just at home. Offering customizable stamps would help drum up more business as people love personalization, check out Stamps4u.co.uk as an example. Business logos, addresses, and signatures are some popular ideas. Stamps that say Sale, Save or even On Offer are also popular with businesses to help them promote products and make more sales. So, you see stamps are useful for everyone!
1. Make sure you have a business plan
Remember the old saying “fail to prepare, prepare to fail”? When it comes to new business ideas that saying couldn’t be truer. No matter how big or small your idea, always make sure you draw up a business plan. A business plan is invaluable in the beginning, it allows you to see the whole picture and helps you decide if your business is doable or not. Your plan can be as simple or as detailed as you want, as long as it makes sense to you and it helps you to keep going in the right direction.
Include details of costings and when you’ll make a return on investment. Come up with an accurate estimate as to how many stamps you would need to sell to make a decent profit each week/month. If you want to access outside funding then you almost certainly need a business plan. Lenders want to see that the business they’re investing in is a good, profitable one! A business plan will help them understand and join in with your dreams and ideas. Even if you’re borrowing off friends or family, it’s never a bad idea to get your ideas and plans down on paper.
2. Be patient
Always keep in mind that new businesses take time to get off the ground. Don’t be disheartened if your business doesn’t take off straight away. It’s a good idea to set aside some living expenses until your business makes you a good living. This is where we go back to your business plan, that should tell you how long you’ll have to provide extra income for before your business picks up. One way to make sure your business takes off quickly is to have clear, concise goals and to go after said goals with everything you have. Don’t second guess yourself, grab the bull by the horns!
Take the pressure off yourself by working part-time whilst you set up your business. That way you won’t be stressing about money or how you’re going to put food on the table, you’ll have a regular income but because you’re only working part-time, you’ll still be able to be dedicated to your business. Then when your company takes off, you can say Au Revoir! to that part-time job and enjoy your new business full time!
3. Promote your products
So, you’ve got your business plan, you’ve got your financial situation sorted, how do you go about actually selling? Marketing and promoting your products are not as difficult as you might think. When you’re starting out, flyers and posters are a brilliant idea. Display them in shop windows and notice boards to get people’s interest. Set up stalls at fairs and markets so potential customers can see your products, test them out and see how amazing the quality is! If you have a storefront you could create attractive visual displays to showcase the different designs of your stamps.
When it comes to marketing and advertising your brand, social media is your best friend. Creating a Facebook page will generate lots of interest. Post updates about your products, telling people where they can buy them and maybe special offers to entice new customers. Giveaways are always popular, for example, everyone who “likes” a photo of your product on Facebook or Instagram gets entered into a prize draw to win a rubber stamp. Networking events are always a good idea too. Meeting new business connections will only help your new venture go from strength to strength.
4. Offer excellent customer service
It goes without saying that all businesses should offer exceptional customer service. By offering amazing service, you’ll build up a loyal client base – they’ll keep coming back to your business and may even recommend to friends and family, word of mouth is priceless! Happy customers also help create a positive work environment for everyone. There are numerous ways of going above and beyond for your customers and the most effective ways are usually the simplest. For example, as soon as a customer walks through your door, a smile and a friendly “hello” goes a long way! Knowing your products well and being able to advise your customers accordingly is a sure-fire way of gaining their loyalty.
Whether you have a shopfront business or an ecommerce site, listening to and understanding your customers wants and needs is paramount to making those all-important sales and gaining customers for life. Asking for feedback is an effective but probably unknown technique for keeping your customers happy. If they know that you want feedback, good or bad, it shows you care about your business and how well it’s performing and in turn, it will help you to know what you need to do to make your customers’ shopping experience even better.