Welcome to the Embroidery Insider podcast! In this episode, embroidery expert and Ricoma COO Henry Ma discusses five reasons why crafters and entrepreneurs alike are starting their own embroidery businesses.
From the large demand, infinite resources available online and unmatched industry support, starting your own embroidery business definitely has its perks.
Read on to discover the five reasons why you should start your own embroidery business.
You may also follow along with the audio version below.
Reason #1: Inexpensive Materials
People who want to start an embroidery business often hold back because of costs. However, the actual cost to start an embroidery business is much lower than you think because there aren’t any large upfront costs. When starting out in other industries, you may have to rent an office space or buy a lot of items in order to kickstart your business.
However, with embroidery, the supplies are very inexpensive, which keeps your variable costs low. Items like thread and backing will not break your pockets. In fact, they’re only about 15 cents per item!
Sounds too good to be true? Click here to learn how to price your embroidered garments for maximum profitability using real-world numbers.
Reason #2: Huge Demand
Despite the opinion that the embroidery market may be saturated, this is definitely not the case. If you look around, there is embroidery everywhere: at the local restaurants within your city and even at your neighborhood Starbucks. The demand has risen exponentially over the past few years, especially with the rise of social media marketing and branding.
Reason #3: Plenty of Helpful Resources
With the rise of technology and social media, embroidery enthusiasts have a pool of resources at their disposal like helpful blog posts, podcasts and Youtube video tutorials. The craft industry also hosts plenty of sites like Etsy, which allow you to set up a store to sell your handmade goods.
You can also join more specific sites like Garmeo. This free site routes custom apparel orders to embroiderers to help them take the stress off of marketing and allow them to focus on the craft.
Reason #4: Affordable Equipment
The cost and barriers to entry to owning a single-head or even a multi-head have reduced tremendously over the years. Over 20 years ago, the cost of embroidery machines were easily within the six-figure category. Today, these costs have reduced as technology has evolved, making it more affordable to own an embroidery machine.
Reason #5: Unmatched Industry Support
There is a ton of support from companies like Ricoma, which offers extensive training and support. Facebook groups are also a great opportunity for new embroiderers to post the work they are doing and receive feedback from experienced embroiderers.