So, you have decided to engage in the business of 3D trophy production-what's next? It is not exactly a singular business area, as the field involves countless products and services. Being unable to choose which products you want to focus on can be costly when starting out, and can be like firing a blunderbuss into a forest! Targeting a particular niche is usually a new business's only hope of succeeding. But before you sit down and hammer the final nail on your business plan, carefully consider the following factors to help you find your own niche.
Consider the Market in Your Area
The good thing about 3D trophy production is there are so many types of products you can make; the not-so-good thing about it is the same reason-there are so many products you can make. The sheer diversity of the products is no joke-it can make you or break you. Therefore, streamlining your expertise will allow your fledgling business to focus on its core strengths. If you've watched any episode of the notorious TV show 'Kitchen Nightmares', with the short-tempered celebrity chef Gordon Ramsay, you'll notice the first thing he does when helping an ailing restaurant is to streamline the menu-reducing the offered items from sometimes more than a hundred to perhaps only about a dozen. It's the same thing with the business of engraving: you should choose what you feel is the area you can excel, then focus all your talents and resources on providing customers top-notch, high-quality, exceptional output.
Assess Your Own Resources and Talent Pool
Deciding on a 3D trophy production niche should start from what you actually have right now - what equipment you have, vis-à-vis what may be needed in your local area. For example, it may be unwise to offer glassware and crystal products if your equipment and your craftsmen/engravers are more experienced working on plastic or resin. Spreading yourself too thin can result in botched-up projects and, therefore, lost customers. It is important to emphasise, however, that this is done only during the initial phase of your business-that tricky time when risks are larger than rewards. Controlling or managing risk means start with what you know best-the expansion can come later.
As you can imagine, the business of 3D trophy production can be very expensive to operate and maintain, especially when you unwittingly give in to over-eagerness and attempt to make a blanket sweep of all the existing markets. Trying to produce a full line of trophies may necessitate maintaining an inventory that costs tens of thousands of pounds, and considering the volatile, fickle-minded nature of the market, this year's popular designs may be forgotten the following year. These facts and figures make it absolutely vital to target a niche market: something small but premium, where wide margins are possible. By starting with a small array of services-'laser-focused', as one might say-you run a smaller risk as your financial exposure will be limited. In the long term, as you gain experience and hone your know-how, you can gradually improve your range of services.
George Berdichevsky is the Founder of 3Design Center, which designs image files to be used in engraving machines for 3D trophy designs. His team of talented artists can create bespoke images for a 3D trophy from any idea or image. Visit the website for more information.