Passive Income: How I Started Print On Demand with $0 (STEP BY STEP)

Summary

In this entrepreneurial challenge, a millionaire businessman tests the print-on-demand business model, setting up a side hustle within 24 hours using a fake name and no initial investment. He selects wall art as his product after market research on TikTok, orders designs from Fiverr, and leverages Gelato for fulfillment. Despite a high price point on Etsy, the venture yields 11 sales and a modest profit, suggesting potential for growth with further optimization.

Takeaways

• 💰 The video script discusses the potential of making significant passive income through Print On Demand (POD) business models.
• 🔍 The narrator, a millionaire businessman, challenges the realism of starting a POD side hustle and decides to test it himself.
• 📝 He sets three rules for the challenge: selling under a fake name, no initial spending, and launching within 24 hours.
• 🛍 The narrator chooses to sell wall art after market research, identifying it as a product with high profit margins and scalability potential.
• 🎨 Due to time constraints, the narrator outsources the creation of wall art designs to Fiverr, emphasizing the importance of quality in product success.
• 🛠 He uses Gelato for its global fulfillment centers and user-friendly software, highlighting the ease of starting a POD business with no upfront costs.
• 🏪 The decision to sell on Etsy is made for its simplicity and existing customer base, despite the competitive nature of the platform.
• 🖼 The narrator uses a mockup tool to enhance the presentation of the products, emphasizing the importance of premium appearance in sales.
• 💡 The pricing strategy involves setting a price point that allows for a 50% profit margin, acknowledging the risk of higher prices affecting sales volume.
• 📦 The narrator orders and reviews the products himself to ensure quality, underscoring the importance of maintaining a good reputation.
• 📈 Despite mixed sales results, the narrator considers the challenge a success due to the minimal setup time and potential for future sales growth.

Q & A

What is the concept of Print On Demand (POD) as described in the script?

Print On Demand is a business model where products, such as t-shirts, mugs, and bags, are not manufactured until a customer places an order. The design is created by the seller and a partner company prints and ships the product upon purchase, allowing the seller to collect profits without upfront inventory costs.

What is the narrator's goal in this side hustle challenge?

The narrator aims to test the viability of Print On Demand as a side hustle by creating and selling his own POD product within 24 hours, under a fake name, and without spending any money initially.

Why did the narrator choose to sell wall art instead of other POD products?

The narrator chose wall art based on market research indicating a large market for motivational artwork, the low cost of production, the potential for high profit margins due to impulse purchases, and the scalability of the business.

How did the narrator approach the design aspect of the wall art products?

Due to time constraints, 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.

What platform did the narrator select for selling the wall art, and why?

The narrator chose Etsy for selling the wall art due to its simplicity, low barrier to entry, and established customer base, despite the downside of being easily compared to competitors on price.

What tool did the narrator use to create a premium look for the wall art listings on Etsy?

The narrator used the built-in mockup studio by Gelato to create a premium look for the wall art listings, enhancing the visual appeal of the designs for potential buyers.

How did the narrator determine the pricing for the wall art products?

The narrator used the Price Navigator tool to understand the costs, shipping expenses, and potential profit per sale, and decided on a price of $49.99 to maintain a profit margin of around 50%.

What were the results of the narrator's side hustle challenge?

The challenge resulted in 11 sales, generating a total of $549.89. After deducting expenses for design, Etsy fees, and product and shipping costs, the net profit was $81.69.

What was the narrator's strategy for managing the product and shipping costs?

The narrator utilized Gelato's print on demand service, which only incurs costs upon a sale being made, and was impressed with the fast shipping time to the USA, which took only three days.

What advice does the narrator give for those interested in starting a similar business?

The narrator suggests ordering the product before selling it to ensure quality and reputation, considering a more robust platform like Shopify for a long-term business, and potentially creating a part two to show further business development.