Start A Resin Keychain - Business Ideas

Updated: November 11th, 2022
Start A Resin Keychain

Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.

Throughout history, key chains have often been used to ensure keys remain attached to the individuals using them. The key chains make accidental key loss less likely and can save on wear and tear. If you are considering a resin business, you can start production of resin-made key chains and sell locally or online. Resin is a highly durable material, ideal for everyday items like key chains.

Starting a resin keychain requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell , or selling online, you can use this page as a guide for everything you'll need to know.

Key Stats

market size
$5.9B
starting costs
$10.9K
gross margin
65%
time to build
210 days

Startup Costs

Min Startup Costs Max Startup Costs

Office Space Expenses

$0

$7,000

Equipment & Supply Expenses

$66

$700

Inventory Expenses

$50

$9,750

Software Expenses

$12

$575

Advertising & Marketing Costs

$0

$3,000

Website Costs

$13

$215

Specific Industry Expenses

$0

$500

Total Startup Costs

$141

$21,740

Successful Businesses

Business URL Rank

KEY-BAK

keybak.com

1,610,949

Pros & Cons

Pros Description

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Ability to start your business from home

It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!

Rewarding work

Starting a resin keychain can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

Scalable

With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.

Meaningful business connections

You never know who you will meet as a resin keychain. This could be the start of an incredible business opportunity!

Quick build time

The average time it takes to build your product is quick - typically around 7 months. This will allow you to bring your product to market faster.

Cons Description

Crowded Space

Competition is high when it comes to your resin keychain, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.

Low margins

The gross margins for your resin keychain are typically around 65%, which can make it more challenging to incur new expenses and maintain profitability.

Work can be inconsistent

As a resin keychain, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.

Lack of benefits

With a resin keychain, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.

Taxes

As a resin keychain, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

No safety net

Typically, as a resin keychain, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.

Marketing Ideas

  • 1

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.

    Learn more about word of mouth ➜

  • 2

    Social Media Advertising

    Social media advertising is the use of social media platforms to connect with your audience with the objective to build your brand, increase sales, and drive website traffic.

    According to Oberlo, approximately 48% of the global population use social media, and the number is ever-growing.

    Therefore, social media allows brands access to cost-effective advertising by enabling them to interact with a large audience.

    Learn more about social media advertising ➜

  • 3

    Pay Per Click Advertising

    Pay-per-click (PPC) is a performance-based marketing method that allows you to show specific ads for services or products oriented to a very defined target, with the goal that the user visits your website or landing page.