March 29, 2024
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Looking for ways to diversify your service-based business?
Every service business reaches a ceiling. Only so many hours fit into a day, and exchanging time for dollars gets you only so far. Want to break through that barrier? Selling physical products is the smartest way.
The good news?…
Launching physical products is much easier than most business owners realize. In fact, it might just be the best long-term growth strategy your service business has.
The biggest problem with service businesses…
Revenue stops whenever the work stops. If you don't land clients in a given month, you don't make any money. It's a stressful dynamic that keeps entrepreneurs up at night.
But when you add physical products to the mix, you create a revenue stream that doesn't rely solely on billable hours. Instead, you build a product business that can run (largely) on autopilot.
The most popular way to do this? Selling custom printed apparel.
Source bulk apparel for printing wholesale from trusted suppliers like Shirt Max, stock your favorite blank shirts, hoodies and other garments then sell them customized for your ideal audience. It's easy, affordable and one of the lowest barrier products opportunities available today.
But that's not even the best part…
According to recent business studies, businesses with multiple revenue streams are 30% more likely to remain profitable during an economic downturn than a business with a single source of income. Diversifying income just makes good business sense.
Yet there's another huge upside to selling physical products.
Customers trust businesses that sell products. When a service business supplements their offerings with a physical product, customers take notice.
Customers see the business as more legitimate. More professional. Successful.
That could be a marketing agency that sells their own merchandise, or a fitness coach that sells branded supplements.
Either way…
Your customers are going to wear that product everywhere. Literally promoting your brand to the world.
Physical products have a way of finding new eyes. When someone wears a t-shirt with your logo stitched on the front, you're gaining exposure to hundreds of new potential customers.
All for zero dollars spent on marketing.
There's a reason so many service businesses launch physical products. Today's customers expect it. And if you want to stay competitive in your industry, it might be time to take action.
Physical products don't all fit your service business. You want to offer something that complements your existing offerings and appeals to your target audience.
The most common methods service businesses use are:
All three of these methods can be incredible revenue streams for the right business. But if you're scratching your head wondering "what should I sell?"
Here is one of the most lucrative products available…
Countless service businesses have profited from custom printed apparel.
Why? Because it's one of the easiest products to start selling.
Here's a few reasons why…
The custom t-shirt printing industry was valued at $5.16 billion in 2024, and is only expected to keep growing from here. When you pair a market that big with a product that easy to start selling, you get…well, opportunity.
Plus, launching apparel with your own custom graphics is simple.
Just source quality blank apparel at wholesale prices, then print your custom designs to sell directly to customers. Whether you sell shirts, hoodies or even leggings, blank apparel can be had at incredibly low prices when sourced in bulk from the right suppliers.
Keep it local by investing in a quality heat press to print your apparel in-house, or outsource fulfillment entirely by finding a print on demand apparel supplier.
Either way…
Service businesses have plenty of options for printing apparel at scale.
The idea of selling physical products is great in theory. But what about all the upfront costs? Plus, what if you end up ordering tons of products you can't sell?
Here's the thing…
Launching physical products with your service business doesn't have to be overly expensive. Nor does it have to be risky.
Here are four tips to launch your first product line without risking your business savings.
Want to keep your risk low? Don't order thousands of units right away.
Spend a few hundred on a first batch of products, then promote them to your existing audience. This lets you test drive your products with real customers while keeping your risk incredibly low.
You don't need to print hundreds of shirts to see if people will buy. Just enough to understand your customer's interest level. If they fly off the shelves, rinse and repeat. If not, tweak your approach until they do.
A service business has one huge advantage over a traditional product business. An existing audience.
You already have customers. Social media followers. An email list.
These are premium channels most product-only businesses would kill to have on day one. And you have them. Use them.
Promote your product to an audience that already trusts you. It's literally the easiest sale you will every make.
Keep costs low by sourcing affordable bulk apparel to print your merchandise on, and forget about business warehouses or employees.
When you first start your product business, you can run the whole operation from your garage. Many successful product lines started with founders sleeping on the floor. Don't be afraid to bootstrap it at first.
Scale up and invest serious capital once you actually need to.
This one sort of speaks for itself.
As your product business grows, take the profits and plug them right back into inventory, better printing equipment, and more products.
Soon you'll have a new revenue stream generating income that funds its own growth.
Which overtime can become a massive chunk of your business's revenue.
Launching physical products is one of the best moves you can make as a service business owner. Not only does selling merch open up new revenue opportunities, but it also captures brand trust and increases your overall exposure.
Want to get started quickly? With minimal effort?
Start selling custom printed apparel.
You get to tap into a massive $5 billion industry by keeping costs low and margins high. All while creating a new revenue stream that complements your services business.
Let's review…
Businesses that incorporate products into their service model are just…better.
They thrive. Where other businesses fight to stay afloat during lean months, service businesses with products just keep growing.
What's going to stop you from starting your first product launch?
Selling physical products creates a new source of income that isn't tied directly to your time. This helps stabilise your cash flow, especially during quieter periods, and also boosts your brand's authority and visibility when customers use your products.
Custom printed apparel, like t-shirts or hoodies, is one of the most straightforward options. The market is substantial, and you can begin with a small investment by sourcing blank apparel and adding your own branding or designs.
You can minimise risk by starting small. Order a limited test run of your product and promote it to your current customers and social media followers first. This allows you to gauge interest before committing to a larger inventory.
Yes, absolutely. Studies show that businesses with diversified revenue streams are about 30% more likely to remain profitable during an economic downturn compared to those relying on a single income source.
Not at all when you're just starting. Many successful product lines began in a garage or a spare room. You can manage inventory from home and only scale up to a larger space once your sales justify the cost.
