There are a lot of ways in which 3D printing is changing the world. Some businesses are even using this technology to build concrete homes. The uses of 3D printing are endless.
Naturally, it makes a lot of sense to start a business in this industry. After all, you can make anything from important components to children’s toys through your company.
But how do you start a 3D print business? In our minds, you need to answer a few fundamental questions to make sure you’re starting out on the right path.
Keep reading for the top five questions you should ask to bring your 3D printing business ideas to fruition.
1. What Am I Bringing to the Table?
First, what special skills or assets can you bring to the 3D printing industry? What niche will you fill that will make your 3D print shop a commodity?
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Figure out the area in which you want to specialize. As noted earlier, this could be anything from children’s toys to important computer components. Or maybe you can bring ideas to life by printing out models of buildings, cars, or other business products.
2. How’s the Competition?
Next, you need to learn more about the local 3D printing market. For example, how many other 3D print businesses are in your area? Will you have a hard time competing with other companies for customers?
The more you learn about your industry going in, the more prepared you’ll be for success. This is also a good time to decide if you’ll offer online services or on-site services only.
3. How Much Money Do I Need to Get Started?
To start your 3D print business, you’ll need startup funding. The question is, how much money will you need to get your company off the ground?
We recommend starting somewhat small, rather than biting off huge overhead costs. Then, you can grow your business and expand your resources as you gain more customers and make more sales.
4. How Will I Get Funded?
After you decide how much money you need to get started, the next step is approaching lenders and investors to secure your financing. There are several options here.
For big 3D print business loans, we recommend applying for an SBA loan. These typically come with low-interest rates and are secured through the government.
Otherwise, you can turn to investors. This includes private investors, crowdfunding groups, and more. If all else fails, you can start small and use a combination of personal finances and love money (money contributed by friends and family).
5. How Can I Market My Services?
Lastly, ask yourself, “How can I get the word out about my 3D print business? Your marketing strategy should be included in your 3d printing business plan.
We recommend investing heavily in your website and search engine optimization. That way, when people search for “3D printer service near me,” they’ll find your company. We also recommend social media marketing, email marketing, PPC marketing, and other forms of digital advertising.
Thinking About Starting a 3D Print Business?
There’s a lot of planning and work to do before starting a business. Ask the questions listed above to launch your 3D print business successfully.
And if you need more guidance, you’re in the right place. Our blog is full of content created to help entrepreneurs like you start companies, attract customers, and build wealth. Read through some of our other articles before you go.