Starting a business with custom packaging is an affordable business idea. However, by making some rational decisions you can start this business with a minimal budget. Every business starts with an idea. However, turning that idea into a successful venture is not as easy as it sounds. It requires good planning, struggle, and above all a good investment. However, for beginners with less budget, there is good news. Some interesting business ideas do not require large capital funding. Custom printed packaging is one of them. Due to the availability of a wide range of options, you can start it with even less than $100. Here we are going to have a look at how is this possible:
STEP 1: PLAN YOUR BUSINESS
Proper planning is essential for the success of every business. It will help you to map out some of the important specifics of your business and get an answer to various unknowns. A couple of things to consider are an estimated startup and ongoing cost, an analysis of the target market, competitors, and latest market trends. As you are going to start, a custom printed packaging business, so you should have a clear idea about what type of packaging product you will manufacture. It will be either cover a niche or an entire product range. Moreover, due to the limited budget, you have to be highly concerned about packaging design and printing options. You have to work creatively in a way that your expenses do not exceed the available budget. For this, you have some of these options to consider
- START AN ONLINE BUSINESS: Despite starting your business in a physical location, you may think of carrying your business online. This will help you in minimizing additional expenses like rent or lease etc. If needed, you may use your go down or a storeroom, or any other available space to store the inventory.
- GO FOR A PARTNERSHIP: In the case, you are available with a limited budget; a partnership is a good option. Especially if you have some experience in the packaging sector, you can invest your time and skills and the other partner may do an investment. A healthy partnership with a mutual understanding can take your business a long way.
- CONSIDER DROPSHIPPING: Going for drop shipping is another interesting idea you may use with a limited budget. Drop shipping allows you to sell the products through an e-commerce channel without even arranging an inventory. The customer purchases from your e-commerce shop and you place the order with the supplier. Your supplier will directly send the packaging products to the customers and you get the profit for the deal. Drop shipping is one of the most cost-effective methods of starting a business, as you do not need investment, neither a physical location to carry your operations.
STEP 2: GET IT LICENSED
The different types of business structures include sole proprietorship, partnership. LLC i.e. limited Liability Company and a corporation. In the case you want to establish your business as a legal entity, you have to abide by certain rules and regulations. First, choose a suitable name for your custom packaging business and register it with the required state authority. Also, apply for state/federal taxes and insurance (if needed). Open a business bank account and get all the relevant details. Fulfilling all these legal requirements can ensure the smooth running of your business in the future.
STEP 3: THINK ABOUT WHAT TO INCLUDE IN CUSTOMIZED PACKAGING
Soon after making a business plan and getting your business licensed, it’s the right time to think about what you will include in custom-designed packaging solutions. Some of the most commonly used packaging types include product boxes, mailer boxes, and shipping cartons. Here are the two main components of how you can customize your packaging inside out:
CREATE AN EXTERIOR PRINTED PACKAGING
A popular and affordable trend in packaging businesses is digital printing. It is quick, produces high-quality results, and applicable to any number of orders in between 10 to 500 boxes. Especially if you have a budget of less than $ 100, it is one of the most cost-effective methods you can use. With a couple of interesting customizations, you can take your box packaging design to a next level. Other techniques like offset and screen-printing need a large printing setup and an upfront cost. On the other hand, digital printing can make you design an attractive exterior for your packaging that stands out.
USE FILLER AND PROMO MATERIALS
In addition to external printed boxes, the packaging companies near me use filler material to enhance the protection and product display. The use of filler packaging like tissue wrap, corrugated paper roll, crumbled paper, inserts, air pillows and packing peanuts, is a great way to delight your customers. This makes them feel like they are delivered with a gift box. The use of printed filler acts as a promotional tool as well, including discount codes, custom thank you notes, a little gift, or other special offers.
STEP 4: ARRANGE MATERIAL AND OTHER PACKAGING SUPPLIES
Suppliers are the backbone of every business. To establish a good position of your packaging products in the market, it is essential to gather premium-quality material. For this, you have to find a well-reputed supplier that may provide you with the best material according to your requirement. In addition to it also arrange some of the basic packaging supplies and office equipment of everyday use. Gathering all the necessary things at the start might save you from future problems.
STEP 5: ANALYZE OTHER PRINTING OPTIONS
Although printing gives a mesmerizing look to your packaging boxes, for small business entrepreneurs several other customized options are also available. They give a similar display to printing but reduce your cost to a significant level. Some of these options include:
- CUSTOM STICKERS/LABELS: Just get them customized according to your branding requirements and stick them on to your packaging to give an adorable display. Most businesses prefer to design them with the brand’s name and logo to make them more recognizable.
- CUSTOM TAPE: A custom tape is similar to a custom sticker, having an additional feature that you can easily roll it all around your box. This makes your package more protective and enhances the product display.
- CUSTOM STAMP: A custom stamp is designed especially for businesses that cannot afford high-tech custom printed packaging You have to customize it in the required size, shape, design, text, or image of your choice. Although the process of stamping every individual package might require some time, the result is outstanding. It gives a similar look to that of custom boxes printed with some pattern.
WRAPPING UP!
Once you have selected the desired material, printing method, box style, and customization options of your choice get started with your custom packaging and see how long it takes your business.
