What are the pros and cons of starting a stationery business?
A stationery business has a few pros and cons, which you should be aware of before getting started.
Here are the high level benefits and drawbacks of a stationery business:
|• Flexibility||• Crowded Space|
|• Ability to start your business from home||• Finding The Right Supplier|
|• Little startup costs required||• Low margins|
|• Quick build time|
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!
• Little startup costs required
The cost to start a stationery business costs significantly less money than most businesses, ranging anywhere from 1,167 to 43,069.
With businesses and processes changing daily, there will always be demand for new features, products and services within your stationery business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
• Quick build time
The average time it takes to build your product is quick - typically around 10 months. This will allow you to bring your product to market faster.
• Crowded Space
Competition is high when it comes to your stationery business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
• Finding The Right Supplier
Most businesses in this space go the supplier/manufacturer route, which isn't a bad thing! However, finding the right supplier can take a lot of time, energy and trial/error. If done properly, this process can save you months (if not years) of time and energy. More on this below in the "finding a supplier" section.
• Low margins
The gross margins for your stationery business are typically around 35%, which can make it more challenging to incur new expenses and maintain profitability.