So you’ve decided to start a 3D printing business? That’s great! But where do you start? This article will walk you through the steps you need to take to get your business off the ground.
How to start a business with 3d printing
1) Choose a business model
There are three main business models for 3D printing businesses:
Manufacturing – In this model, you produce 3D printed products for other companies or individuals.
Service bureau – In this model, you offer 3D printing services to others, either on-site or online.
Retail – In this model, you sell 3D printers or 3D printed products to the general public.
2) Determine a startup budget
Just as with any other business, you need to have an idea of how much money you’re going to invest in your 3D printing business before you even consider venturing into it. In fact, most entrepreneurs spend about 40% of their time on financing issues, with another 10% spent just looking for money! I hope that this article can help make things easier for you and save some of your precious time – we will go over the costs involved in setting up shop later on.
3) Research and plan your product line and production method
Will you sell items created by others (retail model) or create products yourself (manufacturing model)? What kinds of products do you want to provide? Will they be simple or complex? How many different items will you produce?
These are the questions you need to ask yourself before starting a 3D printing business. You also need to determine what production methods you will use. For example, are you going to use SLA, FDM, SLS, or some other method?
4) Create a business plan
Any business must take this step, and the same holds true for 3D printing businesses. The mission statement, goals, strategies, and market target of your company should be included in your business plan. It should also outline your financial forecasts and how you plan to finance the business.
5) Register your business with the relevant authorities
Every country has different laws governing entrepreneurship and self-employment, so you need to do some research into what is required by law in your area before opening an online store or storefront. For example, you may be required to register as a company, obtain a tax identification number (EIN), or even get special permits or licenses for certain types of businesses. You will also have to work out how you are going to pay taxes on any income generated from 3D printing – if you don’t consider this ahead of time, it could lead to serious problems down the road!
6) Hire staff and set up a workspace
If you’re planning to offer 3D printing services, you will need to hire at least one technician. If you’re going into manufacturing, you will need to have at least one person who is proficient in 3D design and printing. You will also need to set up a workspace for your business – this could be anything from a small office to a large factory.
7) Market your business
No matter how great your products or services are, you won’t make any money if no one knows about them! Marketing is essential for any business, and 3D printing businesses are no exception. You can promote your business in many ways, such as through online marketing channels (social media, Google AdWords, etc.), print advertising, and even word-of-mouth marketing.
8) Manage your finances
Any business should pay attention to this aspect, and it is especially crucial for 3D printing businesses. Be sure you are making a profit by tracking your income and expenses. You also need to have a good understanding of the financial risks involved in running a 3D printing business.
9) Stay up to date with the latest technology
The 3D printing industry is constantly evolving, so you need to keep up with the latest trends if you want to be successful. This includes keeping tabs on new printers, filaments, software, and other technologies that could help improve your business.
10) Celebrate your successes and learn from your failures
Running a business is not always easy, and you will undoubtedly experience both successes and failures along the way. It’s important to celebrate your successes, but you also need to learn from your failures so that you can improve your business.
This is just a basic overview of the steps involved in starting a 3D printing business.