As a potential small business owner, you are fully aware of the benefits of franchise…
This blog is the first in a mini series in which we will highlight different entrepreneurial ideas, all of which will be published here in the Fully Promoted blog. First, we highlight buying a T-shirt business.
The Business of T-Shirt Printing
So what exactly are you getting yourself into when you invest in a T-shirt printing business? Here’s a look at the market for your product and a glimpse into the landscape of the industry.
Think of the last sporting event you went to – especially one in an arena. While fans roar during the game, oftentimes the most excited they get are during timeouts when cheerleaders and team attendants hit the court and the bleachers with the T-shirt cannon. Everybody is instantly on their feet, going berserk over the prospect of a free T-shirt they haven’t even seen the design or size of yet.
People love free stuff, and of that free stuff, they love T-shirts most of all.
From schools to event organizers to groups of passionate, like-minded individuals, T-shirts are a favorite way to show unity, creativity, and personality. A graphic T-shirt with your favorite phrases or characters on it is like a less expensive tattoo that you can take off when you get home.
That’s why people pay for them and profit from creating their own businesses making them. In fact, according to statistics provided by IBISWorld.com, the T-shirt printing industry generates approximately $367 million in revenue on a yearly basis, and on average grew 8.7% every year between 2011 and 2016.
For a niche market, that’s pretty impressive. But there’s more.
In the next five years, the industry is projected to grow rapidly, per IBIS World, due to varying factors not limited to the expansion of online marketplaces and retailers, as well as internet subscribers logging on to find them.
Starting a Business vs. Investing in a Franchise
There’s money to be made in the T-shirt printing industry, but where are you going to make it? You can start your own business from scratch, sure, but the amount of extra work and troubleshooting required in a crowded landscape could spell the end of your business dreams.
By investing in a franchise, though, you still get to live your dream of being your own boss while having the added support that comes with the territory of being a franchisee.
Some of those perks include:
- Easier financing. By having the tried and true methods and history of success that your parent company provides, financers likely will be more comfortable to lend you what you need in an affordable manner. You’ll already have a detailed business plan at the ready, detailing everything they’ll want to know – something that will prove invaluable along your road.
- Training and Support. You’re not going to know everything there is to running a business – and that’s okay. When you franchise, your best resources come from the training and support your parent company offers – everything from marketing kits to advice on how to recognize and hire the best personnel. It’s these areas that make franchisees thrive.
But why does this work for the T-shirt printing industry? Most often, you’ll be selling content in bulk – either bulk orders of one product or numerous orders of numerous different products. Either way, there’s a lot of moving parts, which means you need to lean on others to get things done efficiently. Having the resources a franchise provides smoothens the entire process.
Expanding Your T-Shirt Business
It’s not uncommon to have a T-shirt printing be part of a larger pool of services offered by franchising brands.
Fully Promoted is a perfect example.
What started as the industry leader in embroidering promotional products, we grew EmbroidMe into Fully Promoted: a multi-dimensional business that focuses on not only embroidering, but also other promotional products and materials printing, including T-shirt printing, as well as providing a digital marketing solutions service as well.
In the aforementioned IBIS World report, they identified 250 key success factors for a business. The three most important in the T-shirt printing industry were:
- An ability to quickly adopt new technology
- Having the latest and most efficient technologies and techniques
- Having marketing expertise
As our recent expansion into Fully Promoted proves, those factors are at the core of our business infrastructure.
Interested in investing in Fully Promoted? Contact us today.