Target Your Market
The key to establishing a successful and profitable embroidery business is targeting the market that best suits your skills, capabilities and interests. To do this, you need to understand yourself, your business and the market your trying to sell to. A lot of our customers have started by going after the business they are best-connected in: their children's school, equestrian fans or even simply local businesses around their areas.
To get you started, here's a look at some potential markets and niche ideas:
- Advertising Specialty Companies
- City Hall
- Custom Fashions
- Local Corporations
- Other Local Embroidery Companies
Understanding your niche will help you decide:
- What you will need to sew (shirts, jackets, caps, etc.).
- How many items to make per day.
- The type of designs you will use (lettering, digitizing, ect.).
- What level of embroidery software will be necessary
You will need to learn about the competition and decide how you can be different.
You'll need to find your niche and locate potential customers. You can do this by checking the yellow pages, Chamber of Commerce, finding resources at the library or on the internet.
Consider your personal interests.
Do you like sports? Enjoy boating? Are you a dog lover? Maybe you spend your free time combing the beaches for unusual shells. Whatever your hobby, the point is to think about what potential markets might be developed based on your specific interests.
Be realistic about your available funds.
Some markets will require a higher initial investment than others. Determine what your operating budget is and stick with it, especially in the beginning. Search out markets that suit your present financial situation.
Do your research.
Start with the Yellow Pages. How many embroiderers are in your area? What are their specialties? Compile a comparison chart of prices and services. Is there a particular niche that is not being covered? Make a list of the different groups and organizations in your area. You will find that almost every organization uses embroidery or would like to.
You've zeroed in on your market, it's time to make a plan.