Make a Plan For Your New Embroidery Business
Creating a blueprint (business plan) for your business is the foundation for your success. It's the most important (and most avoided) part of starting any business. You need to set goals and establish benchmarks for your growth. A business plan can help you see where you are, where you want to go and what you need to do to get there. Over time, you'll find out what the market demands of you and how you'll fit it.
Embroidery shops come in all sizes, from a small business to giant production factories. You'll need to decide what type of shop is right for the type of business you want to do. Most embroiderer's start out in a room at home then moving on to their own shop or kiosk in the mall.
Good planning will help you establish a strong foundation for continued growth and success. Remember, "Failing to plan is planning to fail." Consider these good, solid tips when planning your embroidery business:
- Understand what embroidery can do. Take advantage of the free training offered to MESA owners. The instructors demonstrate more than just turning a machine on and pressing START. They'll show you the road to a quality product, and more about embroidery's unique appeal. Understanding and playing to embroidery's unique strengths will better-enable you to learn about your market.
- Research your numbers. You may already know how profitable embroidery can be - if not, contact your MESA sales rep to learn more. Then, do some research on what kind of pricing is in your market (stop by some embroidery shops around you and get an idea of pricing). You may already know how profitable embroidery can be - if not, contact your MESA sales rep to learn more. Then, do some research on the average embroidery services pricing in your market - stop by some embroidery shops around you and ask their price for a large jacket back design or a left chest logo.
- Go to trade shows, and attend classes where you can. When visiting us at our trade shows or just browsing the Internet, you'll find lots of educational media and classes at your disposal.
- Take advantage of inexpensive promotion opportunities. Whether you plan a full-scale campaign with yellow page ads, websites, mailers and launch parties, or want to start off quietly until you get the hang of it, there are lots of inexpensive ways to entice business that can form an important part of your business. Here are a few:
- Embroidery is "viral" in nature: anyone you embroider for becomes a walking advertisement for your business. A child's embroidered backpack generates interest from parents of the child's friends, who see it, or a few well-done logos on shirts for a nearby store generates comments, as a couple of examples.
- Embroider on anything practical with your business name and contact info including a website.. You never know who's reading.
- Automobiles: Cheaply-made magnets advertising your business name, phone and telephone.
- Basic website: Basic, informational websites today are very inexpensive and can let you educate your potential customers on the benefits of embroidery and help them get to the order stage.
- Services Checklist. Find the resources you'll need to set up your business and keep it running.
- Government services for business licensing, tax ID, etc.
- Merchant services to allow credit card processing, etc. Whether you wish to online or simply in your storefront, you expand your potential customer base by increasing payment options that you can offer.
- Garment suppliers - there are many to choose from. Try to find at least one in your area, but also find alternates.
- Service/education/parts and supplies for your equipment and ongoing learning. MESA provides all of these in a convenient, 1-stop shop - just call our toll-free number at (800) 330-3867!
- Express courier services for shipping to points beyond driving distance - establish a business account with UPS, FEDEX, DHL or other similar services to take advantages of volume discounts, etc.
Here's some links that can help you create a business plan:
Industry Links | Sample Embroidery Business Plan
It's all planned out, now you need to market your new embroidery business.