The demand for packaging has increased dramatically in the 21st century. Packaging plays an integral role in our lives. It helps keep our products safe while they are being delivered to us, allows companies to advertise their products, and aids in streamlining the supply chain process.
The rising demand for packaging has resulted in a boost in the number of packaging stores entering the market as business owners seek more diversified packaging solutions.
Consider numerous variables if you want to start a packaging store or work with one. We have made this task easier for you by compiling a step-by-step guide on getting into the packaging industry.
Getting Into the Packaging Industry
Here are all the necessary steps one must go through when starting a packaging business. Following this step-by-step guide will help you efficiently open a packaging supply store and increase your chances of success.
Step 1: Planning Is Key
So the first step in starting any business is to have a plan. You cannot just wake up one day and decide you will talk to a vendor and start selling shipping supplies. The best way to plan your business is to ask the following fundamental questions.
- What will my target market be?
Why we have put this question first because once you determine the answer to this, only then can you begin working on the other steps of establishing your packaging business.
Different markets require different kinds of packaging supplies.
For example, if you decide on a food packaging supplier, you might want to look into investing in packaging supplies such as insulated shipping boxes or cool shield bubble mailers. These shipping supplies are specifically made to carry and protect food from going bad, whereas if you want to cater to the apparel industry, you might want to invest in clothing boxes.
To get the answer to this question and ensure you make the best decision, we recommend researching what’s trending and what types of packaging supplies are in high demand.
- Do I have the resources to start a packaging store?
Determining if you have the financial resources required to establish a packaging supply store is also essential to ensure you do not run into a financial crisis while setting up your packaging store.
To do so, we suggest you draft a rough idea of how much you can invest in your startup and then research if your number is enough to start up the type of packaging store you wish to establish.
If you do not have enough finances, you could look into different options like business loans, partnerships, or other ways to earn passive income to help you establish your business.
- What is my budget?
Once you figure out how to finance your business, the next step is setting a budget. Establishing a budget will help you ensure you are not spending more than you can afford on a company and help you avoid financial crises such as bankruptcy. Here are a few tips on budget management.
Don’t Stock Up On Large Amounts of Inventory in the Initial Stage
When a business starts, it takes time to increase its sales and customer base. In most cases, the sales are low in the first few months of establishing a business. Therefore, stocking up on high inventory during this stage can be bad.
Doing so will increase your storage costs and stop you from adding new and trending shipping boxes to your collection, as you already have an extensive collection of possibly outdated shipping supplies in your inventory.
So the best way to effectively manage your budget is to be conscious of the quantity of packing required by your company and not exceed that number.
Be Prepared For Disasters
When you start any business, you should start with the mindset that you will succeed. However, it is always wise to be prepared for anything and have a contingency plan if things do not go as planned.
Preparing for unexpected disasters will help you contain them before things blow out of proportion. For example, if your corrugated boxes get damaged during the delivery process, what will you do? Keeping some savings aside can help you have a safety net to rely on when things go wrong and even help you save your business sometimes.
Keep Track Of Your Expenses
Keeping track of your expenditures is critical when starting a new business. New business owners should never rely on annual budget evaluations and instead review their monthly expenses.
This is because your budget will fluctuate based on your spending and income. In some months, the prices of your raw materials may rise while your sales may fall. Therefore, you must adjust your budget accordingly to avoid problems.
- What materials will I use to create my packaging solutions?
Deciding on the material you will use to make your packing boxes is also important. Once you’ve decided on the material, you can go on to discover several vendors who can supply you with the materials and choose the one that has the best quality and is reasonably priced.
Packaging is made from various materials, including plastic, wood, paper, and metal. Before selecting your package materials, think about your target audience and niche. Paper and wood, for example, may assist you in creating effective packaging solutions for clothing if that is your specialization.
Whereas you might want to look for sturdier materials to cater to a niche that will require you to make heavy-duty packing boxes. You can also look into making eco-friendly packaging supplies by using environmentally friendly materials to make your products.
Choosing environmentally friendly packaging can help reduce your carbon footprint and create a positive brand image among customers. For example, instead of creating poly bags out of plastic which is very harmful to the environment, you can look into alternative environmentally safe raw materials to create poly bags.
Step 2: Choosing a Vendor
The next stage is to select a vendor for your products who supply high-quality materials at a fair price and makes sure to make timely delivery. Before proceeding, you must pick the amount of inventory you wish to obtain. A vendor who may be based locally is best if you want to start with a small order, whereas an international vendor is better for bulk purchases.
If you are on a tight budget, hiring a local vendor will provide you with the advantage of inexpensive, rapid shipping. We recommend conducting an extensive search on the web to find the final suitable option of vendors.
Read online reviews for the vendor to see what other customers have to say about them to ensure you are not partnering with an incompetent vendor. The quality of your product is determined by the quality of the raw material and the manufacturing methods.
Therefore, a good vendor can help you create exceptional shipping boxes that may do well in the market. Here are a few questions you must ask the short-listed vendors to ensure you hire the one best suited for your needs:
- How much do you charge:The primary consideration when choosing a vendor is determining if they fit our budget. If a vendor charges high material and shipping costs and you did not inquire about it beforehand, you may become stuck with an order over your budget. So ask the vendor a rough quote on how much their materials will cost and how much they will charge for shipping your order
- How many days will you take to deliver:You don’t want to be stuck with a vendor who takes months to deliver since it will cause you to deliver late client orders, making customers unhappy with your service. When you ask the vendor about their delivery schedule, give them examples of the quantity of material you want them to supply so you can get an idea of how long it will take them to complete your orders
- Do you sell limited options or have a diverse selection of materials:Picking a vendor who may have a diverse range of materials is always a good option since you never know when the market trends change and when you may need to experiment with a variety of materials
- Do you deliver quality products:When asked this question, almost all vendors will answer with a big yes. However, that is not where you stop. Ask the vendor to explain to your how their material is high quality and go into depth to convince you that they do indeed sell quality materials
Step 3: Establish Your Company Online
Once you are done with all the steps above, it is time to move on to the advertisement part. Almost all purchases happen online, and customers also begin researching Packaging suppliers online. So, you need to work on using that to your advantage so that when customers type ‘shipping boxes near me, your packaging store comes on the top of their search result.
Here are a few steps you need to follow to create a positive and efficient online presence.
Select a Catchy Name for Your Business
Your company’s name has to make sense, be catchy, and not too hard to spell. Incorporating all these factors when considering a company name for your packaging store can help create a stellar business name.
All you have to do is get creative — if you’ve dreamed of opening a packaging store, you may likely have an idea of what you want to name your business. If not, you can do research and ask around for advice.
You will also find various platforms on the internet if you type ‘business name generator’ in your search bar, where you can get ideas on names for your business.
Register Your Company
You will need a vendor’s license to operate a legal company. Speak to a lawyer and hire them to walk you through the paperwork. You will also have to contact government entities such as the department of taxation where you live to ensure you are paying taxes on your business. Doing so will help you avoid any legal troubles in the future.
Create a Website and Social Media Page or Select an Online Vendor
Creating an easy-to-navigate website can help ensure a customer does not leave your website without making a purchase. List all your products on your website and write creative descriptions for the products.
You can also add keywords in your descriptions, e.g. brown paper roll, rather than just writing paper roll. This way, when someone searching for brown paper rolls types this on the internet, Google will catch the keyword and take them to your website. This is also called SEO optimization.
Moreover, rather than writing ‘mailers‘ you might want to go one step further and write down ‘Top-quality and eco-friendly mailer with puncture resistance…’. If you have a high budget, you can also hire content marketing specialists to do the job and have them handle your social media platforms like Facebook, Twitter, and Instagram.
If you want your products to reach billions of customers quickly, you can also list your products on the websites of large-scale online vendors such as Amazon and eBay. However, there are a few steps you might have to go through to get your items listed on these platforms.
We recommend heading to the online platforms for these websites, where you will find a detailed guide on the process of becoming a member.
Run Ads on Social Media Platforms
Running advertisements for your business and products on social media platforms is a great way to promote your products and get your business out in the market. You can also boost your posts on Facebook by paying a small amount to increase your reach and attract more audience.
We also recommend contacting social media influencers to market your products and find creative ways to introduce and recommend them to their followers so they know about your products.
Factors to Consider Before Working with a Packaging Company
If you are a business getting into the packaging industry and don’t know where to begin your research for trusted packaging supply stores, here are a few factors you must consider when choosing a packaging store to ensure you make the right choice.
- Online reviews:What customers say about a business online can tell you a lot about the company’s credibility and if it’s worth working with. So if you have a few options of packaging stores you are interested in, do in-depth research of the stores to see what people have to say about their shipping supplies. Moreover, let’s say you want to order mailing tubes or bakery boxes, search for the reviews for what customers have to say about the quality of these specific products to see if they are worth investing in or not
- Delivery timing:Consider how long it will take the shipping supplier to deliver your products since if they take too long to deliver, that might affect your entire delivery process and result in late order deliveries for your customers, which is never good
- Discounts on bulk orders:Sometimes, if you are on a budget, inquiring packaging stores about if they offer discounts on bulk orders can also be a great way to cut down on expenses. Many stores give discounts to customers who place a certain amount of bulk purchases. Choosing a store that offers these discounts can help you save substantial money in the long run
- Inquire about inventory:Consider if the shipping supplier you are interested in has stocked inventory of the shipping supplies you may order. Doing so becomes even more critical if you’re likely to place urgent bulk orders
- Inquire if the products are eco-friendly or recyclable:The need for eco-friendly packaging has increased over time. More and more customers are prioritizing eco-friendly packaging and not supporting businesses that have not yet taken up the eco-friendly initiative.
So if your packaging is not eco-friendly, people who feel strongly about this may choose not to order from you. Therefore, ask the packaging supply store about how their products are made to do your part in saving the environment.
Adopting eco-friendly packaging will also help you create a positive brand image and have a special place in customers’ hearts. More customers are likely to support your business and refer your products to their relatives or friends if they know that you are actively doing your part in fulfilling your social responsibility
The Boxery ticks all the boxes for the factors mentioned above. We have a large inventory of all the eco-friendly shipping supplies you might need ranging from packaging tape, stretch wrap, corrugated cardboard, and much more. We also prioritize quality and strive to make timely deliveries for our customers.
So what are you waiting for? Head to The Boxery’s official website and browse through an array of packaging supplies to choose the best ones for you. If you want to buy boxes in bulk, contact us at 877-826-9379 to talk to our customer support representatives.