Why You Should Start an Engraving Business

Business Overview:

If you’re looking for a way to express your creativity while owning your own business, learning how to start an engraving business could be the answer. Engraving is very popular these days for many different types of people. Businesses need logos engraved on promotional items to give away at trade shows or to give to employees as gifts. And of course, engraved items like picture frames, jewelry and clocks make terrific gifts for friends and family. Engraved items such as flasks or beer glasses are popular gift ideas for groomsmen; engraved jewelry is a good gift for a bridesmaid. Schools and athletic organizations always need trophies to give away as awards. And with today’s technology, you can start a laser engraving business out of your home with minimal investment. All you need is a computer with design software, a laser engraving system and some room for storage. A laser engraver can be as small as a standard printer and can be purchased for as little as $1,600 USD, perhaps even less if you find one used or wholesale. You will need to do some research on this important piece of hardware before making your purchase though. The type of engraver you need will depend on what types of materials and designs you will be working with. Not all engravers work with every type of materials, so be sure to define the types of products you want to be engraving before you make this purchase. Before you start your business, you need to decide if this will be strictly an online business idea or if you will also operate out of a storefront. An online-only engraving business can be a huge success so you don’t need a storefront unless you choose to have one. If you decide you do want a local presence, it doesn’t mean you can’t also have an online component to your business. You can also look into purchasing an engraving franchise. This option will be more costly up front but it will come with all the equipment and supplies you need to get your business going. Once you have decided where you will operate, you need to market your business. Take out ads in your local newspaper and magazines (wedding magazines, kids magazines, etc.) if you decide to have a storefront business. You can set up a booth at trade shows also. Consider professional trade shows targeting businesspeople and wedding trade shows targeting brides and grooms. You’ll also want to do some online marketing to draw in those customers looking for engraving from someone who offers top quality work. The great thing about this business idea is that gift-giving occasions happen throughout the year so demand for your engraved items will continue year-round. And you are likely to get repeat business if your products are of high quality and you offer excellent customer service. You may even need to hire a staff to help you handle the demand.

A Day in the Life of an Engraving Business Owner:

Your day will begin with a check of any new orders. You will get started on those orders and get them out to your customers as soon as you finish to ensure on time delivery. If you have no new projects to work on, you will spend your day marketing your business online or in area publications. If you have a staff working for you, you will coordinate their projects and check in to make sure they are completing work on time. You’ll want to keep a close check on your inventory to be sure you always have enough items to engrave. You may also spend the occasional weekend at a tradeshow if you decide to expand out from a strictly online presence.

About Your Customers:

Your customers will be individuals or businesses looking for high quality engraved items to give as gifts.

What You Need to Start:

• Engraving business plan
• Storefront (if not operating from your home)
• Engraving machine
• Computer with design software
• Materials to engrave (frames, clocks, flasks, jewelry, pens, etc.)
• Website (if this is an online business)

The Good:

• You can easily run this business from home.
• This business can be run exclusively online.
• Demand for engraved gifts will always be high.
• Cost for materials is relatively low; you can charge top dollar for quality engraved gifts.
• You can work when you want; you don’t have to maintain standard business hours (if you work from home).

The Bad:

• It can take some time to become skilled at designing and engraving.
• You need to be patient while your customer list grows.

Resources:

• International Engraved Graphics Association
• Awards and Recognition Association
• Wikipedia on Engraving

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