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19 July, 2022
The “side hustle” has become such a way of life that some might just call side hustling their full-time job. The introduction of e-commerce sites like eBay and Etsy has allowed individuals to experience entrepreneurship with minimal risk.
The best part of entrepreneurship is the opportunity to attain various freedoms:
There are many more positive attributes of starting your own business. It can be a massive investment to decide to quit your job in the name of starting a company and the risk is often enough to scare people away from the thought altogether. Enter: the side hustle. Starting with a side venture that allows you to continue a full-time job is a low-risk, high-reward play that could provide you all the freedoms listed above…and more!
There are many questions to be answered about a decision like this. Where to start? How to succeed? Why are you different than those that have failed before? We can answer those questions in short order while providing tips on how to get started with your side hustle making candles, chocolates and (or) soaps.
It may seem odd that we have provided you a business idea right from the start. There are several reasons these items are popular on e-commerce sites like Etsy.
The small business niche has boomed recently and shows no sign of stopping. With increasing consumer fatigue towards corporate entities, small shops and online retailers are reaping the benefits.
Candles are wildly popular, with over 70% of homes in the United States using them. Chocolate has an obvious appeal and custom soaps are beginning to see growth as the vacation rental property market has caught on to their appeal.
Pre-made molds are already available for these products and the development of 3D printing assistance platforms makes customizing a breeze. There is no dedicated space required for making these products and producing any of the three has a minimal learning curve (although chocolates may require food safety certificates, check your local by-laws).
Since we mentioned 3D printing, let’s use the opportunity to answer the question, “Why are you different than those that have failed before?” The answer is that your little business could offer unique candle, chocolate or soap shapes and designs. 3D printing offers the opportunity to create virtually any shape you can imagine. Company logos, favorite local sports teams, or school mascots are all within the realm of creating molds using 3D printing.
Set yourself apart by experimenting with weird and wonderful or niche specific shapes. If you need some help turning your ideas into 3d printed molds, give us a call. By using our knowledge and molding and manufacturing equipment it eliminates the need for owning your expensive equipment or trying to learn how to use it.
These products are popular, as we discussed earlier. This means you can expect to set a higher price point for them and still see your inventory ship out. While your business may start as a fledgling Etsy shop, you could eventually branch out into sales as a vendor for brick and mortar gift shops and craft stores.
For some new businesses, an area that has already been established can have some major downsides like market saturation and heavy competition. With candles, chocolates, and soaps, customers are likely to try the “new kid on the block” to see what you have to offer that others might not.
To be straightforward, there are probably more Etsy and e-commerce failure stories than there are those detailing great success. However, proper planning goes a long way toward creating a sustainable model that could provide an income that you would be happy with.
Here are nine steps that can help you succeed:
Creating a business on the side can be a life-changing decision. You may discover new freedoms and enjoyment that you did not know existed. Use advantages like creating your own molds with 3D printing to set yourself apart and stand out from the crowd.
If you need help designing a completely unique custom mold, don’t be afraid to reach out to us on 1.888.202.2052 or by using our quote form. We frequently get queries about mold making and can answer any questions you have about it simply and clearly.
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