Laser Engraving Business Plan – Ultimate Guide!

Laser engraving is a great way to have fun and make money while you’re at it but you will need a laser engraving business plan to succeed. If you are interested in turning this popular hobby into a small business and have the skills to make good money, we have a great business plan to help you get started.

Don’t get overwhelmed by the process. Take a look at this article for simple steps, tips, tools, and helpful advice to get your laser engraving company up and running.

Laser Engraving Business Plan - How to Make Money with Laser Engraving

Can You Make Money Laser Engraving?

Developing your own laser engraving business can be very profitable. There is a demand for these crafty and creative projects, but it will take a little work and research before you can start.

To be successful in this industry, you must be willing to think outside the box and come up with ideas that aren’t already overdone. If you do choose to create products that are already popular, you better have a creative spin that will make yours stand out among your competitors.

Remember that you will have to spend some money to make some money. This means paying out of pocket for tools, websites, marketing, and supplies. However, once you get your feet wet, this can be one of the best investments you ever make.

Why You Should Consider Starting a Laser Engraving Business

First, if you enjoy laser engraving and have experience and talent in this area, why not make money doing what you love?

On a more professional level, there are numerous reasons to take a chance in the laser engraving industry.

  • Be Your Own Boss: Many people love the idea of starting their own side hustle-turned-career to eliminate a grouchy boss or power-tripping manager from hovering over their shoulders.
  • Make Your Own Hours: While there is freedom in working your own set schedule, starting up a company is not easy, and you will find yourself working more now than you did at your 9-5. However, once up and running, things will get much smoother.
  • Make a Profit: The laser engraving industry is very profitable. People love the idea of personalizing and beautifying ordinary and plain objects. The best part is that you can get bulk material at an affordable price and sell it for much more once you add your special touch.
  • Fast Output: With modern technology, laser engraving machines are faster than ever. You can quickly customize products with great accuracy. Instead of spending hours using a hand engraver, you can invest in an engraving machine that will do all the work for you.
  • Small Investment: The laser engraver is the largest expense you will have when starting your company. Once you purchase the laser cutting machine, you won’t have to put much money into your business. After a few good sales, the laser machine will literally pay for itself.

Making Money with Laser Engraving: 5 Steps for Success

Making Money with Laser Engraving: 5 Steps for Success

To be successful, you can’t just jump in without doing some prep work first. You must spend plenty of time doing your research to ensure you are prepared for anything.

From choosing the best color palette to choosing what type of packaging you will use to ship your products out, every little detail can make a huge difference in the success of your start-up company.

To help you get started, here are five critical steps every small business owner should think about.

1. Invest in Your Equipment and Supplies 

To create a flourishing business, you must start with the proper equipment and supplies to ensure you can develop quality products quickly.

For starters, you want to invest in a high-quality laser engraving machine. These machines will range in price significantly depending on various factors, including features, capabilities, the type of laser engraver, and the company it is made by.

Need help in deciding which laser engraver is best for you then have a look at our buying guides:

- Best Laser Engravers Under $500.00
- Best Laser Engraver For Wood and Metal 
- Best Laser Engraver for Small Business 

When it comes down to it, you can expect to pay between $200 to $6,000 for your machine.

Next, you will need to purchase various items and accessories for the machine, along with materials to engrave.

Things to buy include:

  • Computer: You will need a computer that can support graphic software like Photoshop. If you are only using the computer for your laser engraver then you wont need a very high spec one.

Also Read: Do I need a computer to use a laser engraver?

  • Fume extractor: These machines suck up the toxic fumes that can come from laser engraving certain materials.
Have a look at our fume extractor buying guide here.
  • Safety equipment: Besides harmful fumes , laser engraving can be dangerous if you are not adequately prepared. These items can include safety goggles, fire extinguisher, a sturdy table or desk, exhaust fan, etc.

  • Materials for engraving: There is a variety of materials that can be customized and crafted with a laser engraver. Decide where your skills lie and what you feel will sell best and stock up.
Check out the best materials for laser engraving here.

What You Can Make with a Laser Engraver

What You Can Make with a Laser Engraver

The types of products you can create with a laser engraver are nearly endless. These tools can etch text and designs into just about any material. This wide range of personalized gifts gives you plenty of wiggle room when choosing your laser engraving projects.

Some of the more popular items to engrave include:

  • Wine glasses (great for weddings)
  • Key chains
  • Signs and business cards
  • Jewelry
  • Antiques
  • Artwork
  • Personalized products
  • Photo frames
  • Pet accessories
  • Coffee mugs
  • Shadow boxes
  • Wall clocks
  • Wooden puzzles

These suggestions are just a handful of options out there. Do some digging to determine what products are in high demand in your area and make one-of-a-kind designs to appeal to every audience.

2. Choose a Theme

The best way to capture consumers’ attention is to make your brand match, from products to marketing and everything in between.

If you want to laser engrave pet products, stick with pet products. Engrave dog bowls, leashes, collars, and toy boxes.

If you prefer home decor, try using a kitchen theme where you personalize cookie jars, rolling pins, spice jars, and glasses.

Keep the color scheme and design unified across the board when you design your website, logos, and flyers. Not only does this look more professional, but it is also easier to recognize, thus making it easier to find on social media.

3. Take Care of All the Legal Stuff

Running a business isn’t just about making the products and marketing them. You have to make sure you tackle all of the legal stuff too.

When you start up any business, you need to register it in the state in which you reside. You may also want to consider registering as a limited liability company. This will give you legal grounds to stand on if you are unfortunate enough to find yourself in a legal battle with unhappy customers.

Registering your company also allows you to open a business bank account, apply for credit in the company’s name, file taxes, etc.

4. Choose Your Businesses Platform

While many people head straight for web design when starting their own company, this doesn’t necessarily have to be a go-to. Choose where your targeted audience will likely visit and utilize that platform to create your company’s page.

Many people find success by setting up shop on Etsy. This is a great way to showcase your items without putting in a lot of work coming up with your own website.

Some people prefer to sell their engravings in person. This can get trickier because unless you own a storefront, you will only be able to show your products during crafting vendor events, in local shops, or through advertising and making to order.

Lastly, ambitious business owners who want to do it all will create a website and multiple social media pages and enter every vendor fair within a 100-mile radius of their home.

Here are some tips to keep in mind for each of these marketing strategies.

If you want to create a website:

  • Don’t overcrowd your page with pictures, text, or colors.
  • Stick with the same font throughout the page and let the white space offer a little eye relief.
  • Make your website easy to navigate with labeled tabs and easy checkout.
  • Provide multiple ways to contact help if needed.

If you want to create social media sites:

  • Post information, pictures, and other content regularly.
  • Engage with people who visit the page or comment on your products.
  • Offer promotions and incentives.
  • Don’t commit to just one social media site. Use the power of swiping to find more potential customers and research what people like and what they don’t.

If you want to sell in person:

  • Attend as many events, fairs, and craft shows as possible.
  • Don’t be too proud of setting up shop in your front yard or at a rummage sale.
  • Hang flyers EVERYWHERE!
  • Hand out business cards and recruit friends and family to do the same (word of mouth is everything).

5. Stock Up

When starting your laser engraving business, you don’t want to be overwhelmed with tons of personalized orders. This can get stressful and will show in the turn-around time and quality of work.

Instead of taking requests immediately, try creating a few original pieces to show potential buyers. This will get your name out there without the pressure of custom orders to start.

One good idea is to make specific products in multiple colors or designs, then offer them to the public with the option to personalize them with just a name. This gives you the ease of engraving something that is already almost complete while still providing consumers the ability to customize their purchase.

What Not to Do When Starting a Laser Engraving Business

It is not easy to be a start-up in any industry. If it were, then everyone would be doing it. That said, you will surely find yourself making mistakes, which is okay. However, there are a few different things you can stop yourself from doing to create as little stress as possible during the first few months.

  • Don’t expect quick success. On average, a new business takes two to three years to become profitable. Don’t get frustrated when sales are down or business is slow; keep working hard and push ahead.
  • Don’t break the bank. While investing in your own start-up business, don’t risk losing every penny you have doing it.
  • Don’t miss deadlines. If you tell a customer you will have their order ready by a specific date and time, always make sure you stick to the schedule.
  • Don’t be rude. Running a business will throw you into the public eye, where you are forced to work with a range of people. No matter what type of customer comes your way, always keep your composure. Don’t let one crabby customer or bad review destroy your business before it gets off the ground.
What Not to Do When Starting a Laser Engraving Business

How to Price Your Products

It can take a lot of work to put a price tag on customized products. Not only do you want to charge for the materials used, but you also need to be paid for your time and skills.

This is another area of the business where you have to do your homework and note what other businesses are charging for products similar to yours.

Once you have an idea of what the average cost of each item is, offer your products for a little bit less. Doing this will help you outsell your competitors while allowing you to line your pockets with a bit of profit. Remember, you have to take a hit to get ahead.

When pricing your pieces, consider how much time you spent designing them, the quality of each product, and how much the item would cost if it were grabbed off the store shelves.

Also Read: Much much should I charge for Laser Engraving?

Final Thoughts

A laser engraving business is a profitable market to get into. These personalized, hand-crafted, and custom-made products are very popular in today’s market, with people willing to pay higher prices for unique items.

To succeed in this industry, you must work hard, keep a positive attitude, stay organized, and follow the above mentioned steps.