Rubber Stamp Business – Start Small From Home and Grow Big Gradually!

Are you looking for a business idea to make money? Starting a rubber stamp business is a good idea. There is always a market for office stamps. Besides, the profit margin is high for quality stamps. Office stamps are still in high demand in schools, hospitals, public offices and private offices. You can run a stamp-making business on a full-time basis. You can also operate it as a part-time job to earn extra income.

A Rubber Stamp Business Is Profitable

Do not underrate the rubber stamp making business. It has led to the survival of many Ugandans across the country. For instance, when you move around the streets of Kampala, you will see stamp cutters everywhere. Do you know that they make money? Yes, they do, yet they use traditional methods to cut stamps. They cut them with small sharp tools, and the process takes longer. Others get orders and run to established engravers to accomplish the jobs quickly. They only bring you a finished product.

The rubber stamp business I am discussing in this post is modern. I don’t mean the veranda stamp cutting business. No, please! I mean a company you set up and use advanced technology to make stamps for your clients. You will need a computer, designing software and a stamp making machine to do this business. With this modern technology, you can handle big orders of over 100 rubber stamps in a short time. Besides, the quality of your work will be unmatchable.

Starting a rubber stamp business is not hard. As regards startup capital, you only need to have a modern stamp-making machine, raw materials and some skills in designing and marketing.

Initially, you don’t need to hire any business space if your budget is small. It is advisable to work from home. I advocate operating your rubber stamp business from home as a beginner because hiring business space is expensive in Uganda. It’s cheaper and more convenient to work first from home. You can always pick your orders, design the stamps from your home and deliver them to your customers. After establishing a sounding foundation for your business, you can then think about hiring a business space in a good location.

How Can You Start a Rubber Stamp Business?

Shiny Rubber Stamps

If you are determined to venture into a rubber stamp business, the following tips are helpful. Use them to start and grow a profitable business.

#1- Do a Market Research

Before you start your rubber stamp business, it is essential to research. Discover through your study what your target market wants. The feedback you get helps choose the kind of equipment and materials to buy. It enables you to take advantage of the business gaps and to do a profitable business.

#2- Make a Business Plan

Make a business plan for your rubber stamp business, just like you would for any other. The business plan guides you to walk your road to success. Make a simple and comprehensive plan! Focus on critical areas like the nature of the business, the products, the market analysis, the marketing plan, the operational plan, financial projections and financial requirements. You should include under the nature of your business a mission statement, both short and long-term objectives, and the legal structure of your firm, staff, and professional advisers.

Under products, give a brief explanation of how you will produce your products. Include your unique selling proposition, sales materials, special offers and suppliers.

Under market analysis, you should talk about your target market, your market positioning, competition, the number of clients and client response.

Your marketing plan should focus mainly on your anticipated demand, marketing methods, how to attract your clients and public relations.

You should include in your operational plan aspects like the location of your business, client support, service plan, distribution methods, job responsibilities, samples and packaging.

Your business plan should entail financial projections for at least three years. Such records should include mainly profit and loss, cash flow and balance sheet projections.

#3- Acquire Some Basics in Graphic Designing

Message Rubber Stamps

Though graphic designing is not a must-have skill in a rubber stamp business, it is an added advantage. Knowledge of graphic design helps come up with different stamp designs. Besides, if you can do it yourself, you cut down on the cost of hiring a graphic designer.

If you do not have designing skills, you can teach yourself. Just get designing software like CorelDraw and begin learning slowly. Within no time, you will be an expert. That is how we also started. We are now able to design everything we produce in our business.

#4- Look for a Modern Stamp-Making Machine

There are many stamp-making machines on the market. My advice is that you select equipment with which you will best meet the needs of your targeted customers. Your rubber stamp business will prosper if you use modern technology.

#5- Buy Quality Raw Materials

The raw materials must be genuine and of high quality. Your business will collapse within the first months if you use inferior quality materials. Remember that your customers want stamps that can maintain their right business image.

#6- Market Your Rubber Stamp Business

Market to grow your business. Use word of mouth to reach your acquaintances. There are also other forms of advertising you can use. Advertise your rubber stamp business, for example, in newspapers, radios, and television. You can also give out business cards and brochures to potential customers.

#7- Establish Your Online Presence

Use the internet for marketing your stamp business. In this era of the internet, many people can easily place an order on the internet. Have a website designed for your rubber stamp business. Market your stamps with social media networks like Facebook if you cannot afford a website yet. Social media is an excellent marketing method people use nowadays.

#8- Keep Proper Records

Brother Rubber Stamps

Keeping records is key to the success of your business. You need to track your profits, losses, stock, cash flow, debtors, creditors and business value. You will find it hard to manage and grow your rubber stamp business if you do not keep records.

#9- Legalise your Business

Before starting your rubber stamp business, you must understand the legal environment in the country where you operate. You risk losing your business and getting caught up legally in problems if you do not. Make sure you register your business!

#10- Be Credible and Organised

Credibility protects you. Always be honest in what you do and never cheat your customers! Never tell lies to your clients!

Apart from building a trusting relationship with your customers, get organised in your rubber stamp business. For instance, avoid making careless mistakes on your stamps. Before you print the rubber stamps, check with your clients to correct the spellings.

If you need further information concerning starting your own rubber stamp business, use the comments section below to leave your question.