Passive Income: How I Started Print On Demand with $0 (STEP BY STEP)
TLDRThis video follows a millionaire businessman's challenge to start a print-on-demand business with no initial investment. He chooses wall art after market research, sources designs from Fiverr, and utilizes Gelato's print and ship service. He sells through Etsy, leveraging its customer base, and despite a high price point, makes 11 sales totaling $549.89. After expenses, he earns $81.69, considering it a success given the 24-hour setup and potential for future sales.
Takeaways
- 💰 Print on demand allows entrepreneurs to generate passive income by selling products that are only produced upon receiving an order.
- 📈 The potential earnings from print on demand can be substantial, with some individuals reporting over a million dollars in profit.
- 🕒 The narrator embarks on a side hustle challenge to test the feasibility of starting a print on demand business with no initial investment and within a 24-hour timeframe.
- 🛠️ The narrator chooses Gelato as the supplier for its global fulfillment centers and user-friendly software, which is crucial for a quick setup.
- 🔍 Market research is conducted using TikTok to identify trending products, leading to the selection of wall art as the product to sell.
- 🎨 The narrator outsources the creation of wall art designs to Fiverr due to time constraints, emphasizing the importance of clear briefs for freelancers.
- 🛍️ Etsy is chosen as the platform to sell the wall art due to its simplicity and existing customer base, despite the competitive nature of the marketplace.
- 🖼️ The use of a mockup studio is highlighted to enhance the presentation of the wall art products, making them appear more premium to potential buyers.
- 💡 The narrator emphasizes the importance of setting a competitive price that balances profit margins with the need to attract customers.
- 📦 The narrator personally orders and reviews the products to ensure quality and shipping times, underscoring the value of customer satisfaction.
- 📈 Despite mixed sales results, the experiment is considered a success with a small profit made and the potential for growth in the future.
Q & A
What is the concept of Print On Demand as explained in the video?
-Print On Demand is a business model where products are not manufactured until a customer places an order. The design is created and partnered with a company that prints and ships the product upon purchase, eliminating the need for inventory and upfront costs.
What are the three rules set by the narrator for the Print On Demand side hustle challenge?
-The rules are: 1) Sell under a fake name, 2) Not spend more than $0, and 3) Launch the business within 24 hours.
Why did the narrator choose Gelato as the supplier for the Print On Demand business?
-The narrator chose Gelato because they have fulfillment centers worldwide and offer straightforward software that is easy to use.
What method did the narrator use for market research to determine what product to sell?
-The narrator used TikTok to observe trends and identify products that are consistently sold well, specifically focusing on accounts that promote Print On Demand stores.
What product did the narrator decide to sell and why?
-The narrator decided to sell wall art because it has a large market of aspiring entrepreneurs, is cheap to make but can be sold at a high price, and offers many ways to scale the business.
How did the narrator address the time constraint for creating designs for the wall art?
-Due to the time constraint, the narrator ordered five different wall art designs from three different sellers on Fiverr, providing them with a brief for creating entrepreneurial and motivational posters.
Why did the narrator choose to sell on Etsy instead of creating their own store?
-The narrator chose Etsy because it is simple, has a low barrier to entry, and an established customer base. However, they noted that building a business on platforms like Etsy can be challenging due to the commodity nature of the products.
What tool did the narrator use to create a premium look for the wall art designs on Etsy?
-The narrator used the built-in mockup studio by Gelato to create a premium look for the wall art designs, which helps bring the posters to life and make them appealing to potential customers.
How did the narrator determine the pricing for the wall art products?
-The narrator used the Price Navigator tool to understand the costs, shipping, and potential profit per sale, and decided on a price of $49.99, aiming for a profit margin of around 50%.
What were the total sales and profit from the Print On Demand side hustle challenge after all expenses?
-The total sales were $549.89, and after deducting the costs for designs, Etsy fees, and product and shipping costs, the total profit was $81.69.
What advice does the narrator give regarding ordering the product before starting to sell it?
-The narrator advises ordering the product before selling to ensure its quality and reputation, as customer feedback on the product is crucial for the success of the business.
Outlines
🤑 Print On Demand Side Hustle Experiment
The narrator, a millionaire businessman, challenges the viability of a print on demand (POD) side hustle by setting strict rules: selling under a pseudonym, not spending any money, and launching within 24 hours. He chooses Gelato for its global fulfillment centers and user-friendly software. Market research via TikTok leads him to select wall art as a product, noting its low cost, high potential selling price, and scalability. He admits to time constraints and orders designs from Fiverr, emphasizing the importance of entrepreneurial and motivational themes for the posters.
🖼️ Design Selection and Online Store Setup
After reviewing the Fiverr designs, the narrator selects his favorites and discusses the importance of design quality. He uploads the chosen designs to Gelato, opting for wooden framed posters with premium matte paper, considering cost-effectiveness and consumer preference. He then links his Gelato account to an Etsy store, using the platform's mockup studio to enhance the product presentation. The narrator sets a price point of $49.99, aiming for a 50% profit margin, and mentions the potential for a discount through a provided link.
📈 Business Results and Future Considerations
The narrator reports the results of his POD side hustle from Miami, noting the impressive shipping speed and quality of the received products. Despite the high price point, the venture generated 11 sales totaling $549.89. After deducting Fiverr design costs, Etsy's commission, and product and shipping fees, the net profit was $81.69. The narrator considers the experiment a success, given the short setup time and potential for continued sales with minimal additional costs. He invites viewer feedback for a possible follow-up and encourages subscription for wealth growth.
Mindmap
Keywords
Passive Income
Print On Demand
Side Hustle
Market Research
TikTok
Wall Art
Fiverr
Etsy
Mockup Studio
Profit Margins
Gelato
Highlights
People are making thousands of dollars in passive income every month selling products that don't exist until someone places an order.
$34,000 per month as realistic earnings with Print On Demand.
Millionaire businessman tests Print On Demand as a side hustle challenge.
Rules for the challenge: sell under a fake name, spend no more than $0, and launch within 24 hours.
Finding a supplier with easy-to-use software is the first step.
Print On Demand explained: print and ship products on demand, collect paycheck without inventory.
Choosing a product to sell: t-shirts, mugs, bags, and wall art.
Using TikTok for market research to find what sells well.
Wall art chosen for its large market, low cost, high selling price, and scalability.
Ordering wall art designs from Fiverr due to time constraints.
Creating an online store on Etsy for its simplicity and existing customer base.
Reviewing and selecting designs for the online store.
Uploading designs to Gelato and setting up the product catalog.
Using Gelato's mockup studio to enhance the presentation of the posters.
Setting a price for the wall art with a 50% profit margin.
Testing the product by ordering a few pieces and assessing quality and shipping time.
Sales results: 11 sales, $549.89 revenue, and $81.69 profit after expenses.
Considering the setup within 24 hours and minimal additional costs, the challenge is considered a success.