Tuesday, March 14, 2023 by Gemma Wilkins | Resources
Making merchandise can be an excellent upsell option in studios, and another way to make an income stream.
Dropshipping has become a popular way for to start selling merchandise without the need for inventory, shipping, or handling customer service. Simply put, dropshipping is a retail fulfillment method where the seller doesn't hold inventory but instead transfers the customer's order and shipment details to the manufacturer or a wholesaler, who then ships the goods directly to the customer.
Online business without the inventory
This means that using the right resources you can sell products without ever needing to physically handle them. The process is simple: you find products to sell, list them on your store or promote them through a selling page, and when a customer places an order, you forward it to the supplier who ships it directly to the customer. With the right tools and resources, dropshipping can be an easy and lucrative way to start an online business.
Customise and increase your branding presence
Merchandise is a powerful tool that can help build hype and excitement for recitals. By creating custom merchandise such as t-shirts, stickers, or tote bags with the name and date of the recital, students and their families can proudly show their support and spread the word about the event. Not only does this create a sense of community and unity among the performers and audience, but it also provides a lasting memory of the recital. Merchandise can also serve as a source of revenue for the studio, as students and their families are often eager to purchase items to commemorate the event. By incorporating merchandise into the marketing strategy for a recital, studio owners can create buzz and generate excitement, ultimately leading to a successful and memorable event.
Model what other industries are doing
I only considered increasing my merchandise offerings after going to a few dance concerts for my daughter. Every concert there were tees, toys, activity books, drink bottles, clothing, accessories to buy as mementos for the concert. They built hype, they create memories and even better they BOOST supplementary income. Instead of trying to create something from scratch it can be quite quick to sign up to an integrated site, create a number of products and offer them for sale.
Expand your geographical reach
Using this method for creating merchandise makes it easy to reach students or viewers in different locations and can help expand your audience beyond just your local area. To ensure that your customers receive their orders in a timely manner, it's important to choose reliable and efficient suppliers. Look for suppliers with a proven track record of fast and reliable shipping and good customer service. By partnering with the right suppliers, you can provide your students or viewers with high-quality products without the hassle of handling shipping and fulfillment yourself.
Before you dive into dropshipping, it's important to carefully consider a few key factors. First and foremost, you need to identify a product category that has a strong demand and good profit margins. Conduct market research to understand what products are currently popular and what your potential customers are looking for. Then you'll need to choose a reliable and trustworthy supplier that can provide high-quality products and fast shipping. It's also important to factor in the costs associated with running a dropshipping business, such as marketing and advertising expenses, website hosting and design costs, and any fees associated with your chosen e-commerce platform. Finally, you'll need to consider the time and effort required to manage your dropshipping business, such as processing orders, responding to customer inquiries, managing product listings. By carefully considering these factors before you start, you'll be better equipped to create a successful and profitable dropshipping business.