Low Risk Merch
Exploring Low-Risk Merch Options for Your Business: Our Journey with Printful
Hi everyone,
I hope you're all doing well. Today, I want to share an exciting low-risk merch option for businesses looking to expand their brand presence without the hassles of holding inventory. Here's a deep dive into how we're leveraging this for Ampersand and how you can do the same for your business.
Benefits of a Low-Risk Merch Strategy
No Inventory Holding: One of the most appealing aspects of using a third party, like Printful, is that you don't need to maintain inventory. This means you can offer a variety of products without the financial risk of stocking items that may not sell.
Inclusivity: You can provide a wide range of sizes to accommodate all body types, which is especially important if you’re offering clothing items. This inclusivity can broaden your appeal and customer base.
Managed Fulfillment: With third-party fulfillment, all shipping and logistics are handled externally. This lets you focus on other aspects of your business.
Our Approach with Ampersand
At Ampersand, we've set up a merch shop primarily for marketing purposes rather than generating significant profit. By pricing items at cost, our objective is to amplify our brand identity. We believe more people will buy and promote our merch because they genuinely like it, not because we are trying to profit from it.
Setting Up with Printful
We chose Printful for its broad product coverage, the variety of sizes, colors, and options it offers, and its seamless integration with popular website platforms like Squarespace, Shopify, and Wix.
To give an inside look:
Backend Store Management: The backend looks like a regular Squarespace shop. You can edit product mockups, prices, colors, and placements as you see fit.
Higher Starting Prices: Since Printful manages all inventory and printing, the starting prices are higher. Although the costs are higher to me, the benefits of not having to deal with any of it allow us to offer more goods than we’d otherwise be able to.
Managing & Modifying Products
You can easily manage products through your store backend. The flexibility to edit, add, or delete items ensures your merch offerings remain dynamic and up-to-date. Plus, Printful offers unique items like organic cotton products, recyclable materials, and globally-fulfilled orders – all of which add to the appeal.
Subscription Options
We subscribed to Printful Growth for $24 a month, which lowers product rates. If your sales volume justifies it, this subscription can be advantageous. However, you can cancel anytime and revert to the regular pricing model if necessary.
Global Fulfillment with Quick Turnaround
Some of our orders are fulfilled from abroad, like Latvia, but the turnaround remains impressive at about 10-12 days. Smaller orders from our customers also follow a similar timeline, ensuring customer satisfaction.
Payment Processing & Profit Margins
When customers place orders via your website, Printful automatically charges your business card to fulfill it. You keep the profit margin, and it's an excellent way to earn points if you use a rewards card. We benefit from using a Business Amex card for these transactions, allowing us to accumulate points for business expenses and travel.
Printful Integration
Printful integrates smoothly with Squarespace and offers a wide variety of products, from clothing and accessories to puzzles and iPhone cases. This versatility means you can cater to diverse customer interests without taking any inventory risk.
Local vs. Third-Party Fulfillment
While using a local small business for fulfillment is ideal, it's not always feasible. For us, Printful's integration and ease of use made more sense, allowing us to focus on other business areas. However, if local vendors are available, always consider supporting them first.
Conclusion
This low-risk merch option has been a game-changer for us, combining ease of use with broad product offerings. If you're looking to expand your brand's reach with minimal risk, Printful could be your answer. The endless customization possibilities and the seamless integration with your e-commerce platform make it an appealing choice.
Feel free to reach out if you have any questions, and let's make the most of this exciting opportunity together.
Till next time,
Linda