Being an entrepreneur is exciting because you get to bring your idea to life and be your boss. However, eCommerce can be complicated, especially for newcomers. Furthermore, beginners frequently make a few common errors that result in losses in their ventures. Don’t let yourself become a failure statistic. The good news is that it is now easier to start and profit from a print on demand business. However, it necessitates the use of a reliable strategy.
It is commonly stated that more than half of all new businesses fail within the first year. According to the United States Bureau of Labor Statistics (BLS), this isn’t always the case. According to BLS data, approximately 20% of new businesses fail within the first two years of operation, 45% fail within the first five years, and 65% fail within the first ten years. Furthermore, only 25% of new businesses survive for 15 years or more.
COMMON MISTAKES TO AVOID WHEN OUTSOURCING A PRODUCT FROM A PRINT ON DEMAND PROVIDER
1. Checking store policies
Store policies are essential for an online business because they provide customers with a sense of security when they purchase something from you. In addition, they’ll know what to expect if something goes wrong with their order or if the product doesn’t fit if policies are in place.
2. Avoiding copyrighted designs
They fail to recognize that they are unable to sell copyrighted designs without payment and permission. To use, display, and resell copyrighted design, you must have a license. In addition, giving credit to the designer isn’t enough; you also need the author’s permission and a signed licensing agreement to obtain the license before you can sell a product that incorporates it.
3. Failure to include a billing method
With every successful business comes the more technical side, such as setting up a billing method to ensure your customer can buy from you and you can make a sale in return. To ensure that your orders are processed correctly, you must set up payments on your storefront using the platform’s support resources. You must also configure everything on your print on the demand provider’s end to process the second payment.
4. Using the wrong print files
A great print file is a key to a great product design. Here is one of the critical aspects to consider when creating a print file:
The color and transparency of the background. Because the printer will print all of the colors it sees in the design, avoid including a background color unless it is part of your design. Customers also frequently overlook that all non-white papers have a white under the base to help the colors stand out. The white under base will show through if you use a transparent design on a dark papers.
5. Forgetting about extra expenses
When starting a print on demand business, it’s critical to have a rough idea of potential costs. If you skip this step, you risk underestimating your potential earnings and having difficulty scaling your business.
Calculating shipping costs isn’t as fun as designing your products, but it’s a necessary evil for all store owners.
· Customs fees
Your customers may be required to pay customs fees depending on the order destination and fulfillment location. While your end customer is responsible for these fees, communicate this directly with them to know what to expect.
In terms of taxes, it’s a good idea to have a rough estimate of the percentage of your earnings that you will use to pay taxes. The exact tax rates and types of taxes that you must pay vary depending on where you live. To have a more realistic estimate of your future earnings, keep these tax obligations in mind when assessing all potential expenses. Consult a legal professional for more information on tax-related issues.
Making mistakes isn’t fun. You, like everyone else, would prefer to avoid them. On the other hand, being an entrepreneur is all about taking risks, exploring new opportunities, and learning from past mistakes. Whether you’re an experienced store owner or just starting, follow the guide above to know what to do and not to do when growing your store.
Trying to handle everything on your own can quickly become overwhelming. Make sure you have an excellent team to help you succeed in business. Fulfillplex is ready to help! Our technology automates the market’s best print-on-demand services. We are a top eCommerce fulfillment company, providing a white label, fulfillment, warehousing, packing, and shipping services. Request a quote from us, and we will meet all of your needs to help drive your business to success!