Can you make money with a Laser Engraver?
Wondering if you can make money with a laser engraver is one of the commonly asked questions by aspiring laser enthusiasts.
The answer is yes, but you will have to put in a lot of work like you would in any other business.
There are several platforms that you can use to sell you engraved products such as Etsy and eBay, and that gives you several ways of increasing your client base.
You can also use offline stores to sell your products, and the business will still thrive. Starting the business is also easy.
You will need basic items like a laser engraver, materials to be engraved, and a computer to customize the artwork.
If you’re not a designer, you can outsource the designs from freelancers.
Materials to be engraved
If you have been wondering what can be made with a laser engraver, then you’ll be glad that there are numerous options in terms of materials.
Just to show you the range of possibilities, let’s start with a unique example, such as tombstones. For a business, you can engrave tombstones and work with funeral homes or work independently by making memorial stones like marble.
Other materials include glasses, clothes, and wood. And glasses have a wide category such as plaques, mugs, and windowpanes, among others, while hardwood like mahogany, pine, and oak can also be made in different designs.
Clothing materials like denim, cotton, and leather can also be made into different designs.
Metal like cups, paper-like book covers, and greeting cards as well as plastic and acrylics like coasters, toys and key chains can also be engraved.
The possibilities are endless.
Profitability
Asking what products sell best out of all these products is also common. All these products have the potential of selling well, but you will have to do your part in capturing your audience. Ceramic products like coffee mugs and ornaments are some of the best-selling products because they always have a ready market.
Ornaments can be used by individuals as well as business owners to decorate their properties, which means that you have to come up with high-quality and appealing designs that they will like.
Metal products like trophies can also sell well but to institutions that need them.
Like ceramics, wooden products are also profitable since they can be given as gifts and can be made into a wide range of products.
They, therefore, give you a wider customer base to capture. Engraved fabrics like sportswear have also been profitable for many years, and they continue to do so. In every business the goal is to make money, so do your due diligence in research.
Pricing
When it comes to how to price your products, you have to consider several factors, such as your competition and the cost of production.
The production costs aren’t usually too high because the raw materials are cheaper, but you still have to be careful not to extort your customers. You should also sell within the price range of your competitors to avoid driving your customers away.
The price will range from as low as $10 to hundreds of dollars, depending on the size of the product. And also the complexity of the artwork.
Marketplace
Wondering where to sell your products? The answer is both online and offline.
There are several e-commerce stores that you can use to sell your products, but you can also sell through your website. You can also set up your physical store to capture the local customers. Either way, you will still need to market your products properly to succeed.
Marketing
If you want to know how to market your laser engraving business, then start with proper research. Determine the demand for your product niche to project possible profitability.
The research will also help you come up with the best price range. Scoping the number of competitors in your niche is also necessary for helping you find out whether the demand for the product.
You have to be careful because more competitors could mean that the niche is very profitable, but niches with fewer producers could also mean an untapped market.
Do your research well when making your choice. Use online social media platforms for advertising your products, and if you can, utilize paid ads as well. Don’t forget to ask people to refer you for you to get local customers and remember to make high-quality products that will ensure customer satisfaction. Customer service is also essential as it will ensure that you get return customers.
Summary
In conclusion there are many different avenues to go down when trying to start a profitable laser engraving business.
We suggest you start with a few solid products and custom projects to sell to friends and family before going all in with a laser engraving business.
Remember to be creative and always give your customers your best, word of mouth is huge in the maker space.
