We know you are involving in this exciting business. Every single sales can give you profit. But as a business owner, we always consider to get maximum profit rather than just a profit. Everyone wants 6digit income compare to 4digit. Correct?
We always say Gift + Creative = High Profit! So how do we want to get maximum profit from this business? Here are the secrets:
1. Creativity is the key!
In personalised gift printing industry, you’re selling your arts compared to the product. For instance, we can get many types of mug in the market. But the mug printed with a lovely photo of yours? Where else you can find other than DIY (do it yourself)! Your design must be attractive, must be unique and outstanding in order to get peoples’ attention.
2. High profit margin
The profit margin is the percentage of the selling price that turned into profit, whereas the profit percentage is the percentage of the cost price that one gets as profit on top of cost price. (Wikipedia). So in this business, you also can try to get high profit by set higher profit margin. Example as per below:
= Market Retail Price – Cost of Production
= RM 27.00 – RM 4.35
= RM 22.65 (PROFIT EARN! WOWW!!)
But how to attract your customer to buy for this price? Simple! Just follow this 3 step!
1. Give them more options and suggestions.
2. Take the opportunity on special celebrations (e.g. Christmas gifts, Valentine’s gifts, Mother Day’s gifts)
3. Display your product sample and make sure the design is the most attractive.
Stay tuned for more business tips from us! Get started with low cost and high profit business with DIYPrintingSupply.com. Visit us NOW!!!
Want to find a successful online gift shop with amazing gifts? Head over to Printcious house of gifts and see a huge collection of customisable gifts such as gifts for mom, gifts for siblings, gifts for best friends as well gifts for all occasions. Get ready to be amazed!
Interested to start your own business?