When 3D printing became popular in the 2010s, it paved the way for creativity and innovation. From 3D-printed houses to pieces of artwork, we came up with so many ingenious uses for the technology.
But what about now and the future? Well, it’s predicted that the industry will reach $49 billion by 2034 with a compound annual growth rate (CAGR) of 11%. So it’s not too late to get into 3D printing if you haven’t already done so.
Want to get in touch with your entrepreneurial side? Then read on to see how you can start a 3D printing business that’ll be a hit.
Do Market Research
As we’ve just mentioned, the 3D printing industry is vast, and there are so many opportunities waiting for you. However, it’s not wise to try and appeal to every single type of customer out there, so you need to narrow things down.
Think about who your potential customers will be. This could include industries like healthcare, automotive, aerospace, fashion, and education. Or you can go simple and cater to consumers looking for custom products.
With this information, you can look at existing 3D printing businesses to understand their offerings, pricing, and market presence. This can help you identify gaps in the market that you can fill.
In addition, understand 3D printing trends. Stay updated on both the technology and materials so you don’t fall behind.
Consider Your Service Offerings
Perhaps you’ve narrowed things down based on the above section, but you’re still not sure which service offerings you should have. Here are some ideas.
One of the simplest 3D printing business ideas is creating custom items like jewelry, home decor, and promotional items. You can take personalized orders and charge more for them, since your clients are receiving something unique.
For something similar, you can offer rapid prototyping services for businesses developing new products; this is extremely popular, so there’s potential to do well here. You can also go into manufacturing and provide small batches for niche markets.
An idea that’s more out of the box is to have workshops and training sessions. You can teach others how to utilize 3D printing technology.
Come Up With a Business Plan
Your business plan should be a thorough overview of what you’re planning on doing and how you’ll achieve it. This starts with an outline of your business idea, target market, and goals. You should also decide whether you’ll offer 3D printing as a service, sell 3D printed products, or both.
From there, you can estimate startup costs, operational expenses, and projected revenue. Don’t forget to factor in the costs for equipment, materials, software, marketing, and labor.
Another important thing to consider is your marketing strategy. After all, without one, no one will know how great your services are.
Plan how you’ll both attract and retain customers. This might include a website, social media presence, partnerships, and advertising.
Choose Your Business Structure
As a freelancer, you might be wondering which type of business structure you should form. The choices available are sole proprietorship, partnership, limited liability company (LLC), and corporation.
While there’s no right or wrong choice, you should know that many entrepreneurs choose to go with an LLC since there are numerous benefits. Whatever you choose, you can use our business registration service to get through the process smoothly.
After registering your business, obtain any necessary licenses and permits. Plus, be aware of intellectual property rights related to the designs you print. Ensure you have the right to use or reproduce the designs, especially if they’re customer-supplied.
Get Your Equipment
If you don’t already have it, then get your equipment and materials. Choose from FDM, SLA, SLS, or other types of 3D printers based on your market and the materials you plan to use. You should invest in reliable machines with good print quality and adequate build volume for your target projects.
As for materials, stock a variety of them, such as PLA, ABS, resin, and metal powders. Of course, this should be based on your service offerings.
You’ll also need programs to carry out your 3D printer projects. Use CAD software for design and slicing software to prepare files for printing. Some popular options include AutoCAD, SolidWorks, Blender, and Cura.
Set Up Your Workspace
Choose a place that accommodates your equipment and allows for efficiency. The most convenient option is to have a home office, as you won’t have to go far, nor will you have to pay additional rent. Other choices include a workshop or dedicated commercial space.
Once you’ve determined where you want to work, then organize your workspace for both safety and efficiency. Consider having separate areas for design, printing, post-processing, and quality control.
Market Your Business
Create a professional website that shows off your services and portfolio. Visitors should be able to easily find pricing and contact information too. But don’t stop there; you should also use social media platforms to have a wider reach. Combining organic with paid marketing helps as well, so do things like taking out ads through Google.
Offline channels are great too. Attend industry events, trade shows, and local business meetups to network and promote your business.
In addition, take advantage of partnerships. Form them with other businesses, educational institutions, and maker spaces to expand your reach further.
Start Your 3D Printing Business Now
Considering that the industry is projected to keep growing in the next decade, having a 3D printing business is an excellent idea. There’s a wide variety of niches you can explore, so you don’t have to feel restricted to a particular thing.
Just make sure to do thorough research and discover which areas are lacking. That way, you can quickly fulfill consumer needs and build a company that’ll be successful.
Sign up with Business Anywhere today if you need help starting a 3D printing business. We’ll take care of all the paperwork for you.
