Starting a reusable straw business requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell reusable straw, or selling reusable straw online, you can use this page as a guide for everything you'll need to know.
Want to learn more? You can check out our full guide on how to start a reusable straw business ➜
|Min Startup Costs||Max Startup Costs|
|Office Space Expenses||$750||$7,000|
|Employee & Freelancer Expenses||$151||$352|
|Equipment & Supply Expenses||$500||$5,000|
|Business Formation Fees||$5,600||$20,400|
|Retail Business Expenses||$1,250||$11,650|
|Advertising & Marketing Costs||$75||$5,286|
|Total Startup Costs||$9,141||$75,547|
|Klean Kanteen UK||kleankanteen.co.uk||#1,702,912|
|Save The Turtles||savetheturtles.ca||#3,833,530|
|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.|
|Meaningful business connections||You never know who you will meet as a reusable straw business. This could be the start of an incredible business opportunity!|
|Easy to encourage "impulse buy"||In the reusable straw business, you have a much higher chance of encouraging your customers to buy on impulse - you can easily alter the price, placement, packaging, and promotional value to influence the decision of your buyer.|
|Unlimited income potential||With starting a reusable straw business there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.|
|Predictable income stream||Your businesses income stream tends to be predictable based on the number of customers you have signed up. This makes financial planning and outlooks much more seamless!|
|Higher likelihood of getting referrals||This business is all about referrals, which can be a a very impactful way to attract and retain customers. It's critical that you have a great referral program in place that incentivizes your customers to tell their friends about your product.|
|Longer Sales Process||A reusable straw business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.|
|Low margins||The gross margins for your reusable straw business are typically around 15%, which can make it more challenging to incur new expenses and maintain profitability.|
|High employee turnover||In the reusable straw business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.|
|Taxes||As a reusable straw business, 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.|
|Niche Market||A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.|
|You may need to charge sales tax||If you are selling your products in various states, you may be required to charge sales tax. Although this may not impact your financials specifically, it can be a headache to create a process and procedure for this. To learn more about sales tax, check out [this article](https://www.thebalancesmb.com/do-i-need-to-collect-sales-taxes-in-my-state-398913)|
A partnership is a formal agreement between two or more entities to oversee business operations and share profits and liabilities.
Creating strategic partnerships with an existing business can be a huge win for a startup.
This is considering that a partnership creates a new slate of future options for your startup.
On the other side, pursuit of partnerships could suck up a ton of time, and bunch of resources, and fail to materialize.
Therefore, entrepreneurs need to do proper research and evaluate the possibilities of achieving success through partnerships.
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.
A Facebook Community refers to a Facebook page dedicated to a topic or an experience owned collectively by the community connected to that page.
The Community page allows the admin to connect with others who share similar interests and experiences.
Facebook communities are a great platform for growing brand awareness and marketing your products.