Starting a business can be an exhilarating experience, but it’s important to choose the right type of business to start. If you are passionate about fashion, creativity, and entrepreneurship, then starting a custom T-shirt business may be the perfect fit for you. With the growing popularity of personalized and unique clothing options, the demand for custom-designed T-shirts has been on the rise. In this read, we are going to dive into some of the reasons why this may be a worthwhile venture.
Custom T-Shirts are a Popular Industry
This is probably the biggest reason to start a venture in the custom t-shirt industry. There has been a rising demand for tees with logos or slogans found in TV shows, movies, and video games. In addition, long gone are the days when only individuals were interested. Nowadays, companies, particularly start-ups leverage t-shirts for branding and marketing in order to boost their visibility and grab people’s attention. In addition, tees play a vital role in creating social media buzz, supporting a cause, and raising a voice, which again boosts marketing campaigns.
In 2020, Grand View Research released a report stating that this industry was valued at $3.64 billion and is estimated to grow at a compound yearly rate of 9.7% for the next 5 years.
In the United States alone, IBISWorld reported that the online T-shirt industry would go beyond $516 million in 2021 and the number increased faster than the overall retail industry. These figures alone mean that the custom t-shirt industry is ideal for new entrepreneurs.
Covid-19 Boosted the Custom T-Short Sales
While the pandemic affected almost every sector, including the fashion industry because of its discretionary nature. According to McKinsey, over 65% of consumers in the US and Europe expected to reduce their spending on clothing. However, covid-19 accelerated the growth of online apparel, sales. Adobe Analytics data revealed that the sales of T-shirts included by 47% in April 2020 alone. In the united states, T-shirt orders increased by over 4 times compared to pre-pandemic sales, which is around a 330% increase.
But why did that happen? Well, one of the explanations is that people turned towards more comfortable, stay-at-home apparel and t-shirts fall in that category. T-shirts are easy-to-make and affordable items, making them ideal for those who are just getting into the industry. On average, it costs $7 to make a t-shirt, but you can sell it for up to $50 depending on the material. As well as custom t-shirts Covid also helped the vehicle graphics field if this is something you are looking for then check out vehicle graphics in Surrey.
Custom t-shirt sales also spiked during the pandemic as more and more people looked to support small businesses. Dylan Hattem, for example, (the founder of DS Projects), launched an initiative dubbed ‘’This T-Shirt” to sell custom tees on social media. He had an initial goal of raising $20k in order to support charities and small businesses, but the campaign hit $200k in no time.
The Venture is a Great Source of Extra Income
We have seen numerous people lose their jobs permanently, and thus being forced to dip into their savings in order to make ends meet. Others have had to take loans or turn to food banks for relief. The more we get into financial hurdles, the more we realize the importance of multiple sources of income.
Fortunately, it is never too late to diversify and you can start today by launching a custom T-shirt business. This is a market with increasing demand, meaning you won’t face too much competition. In addition, it is relatively easy to start and once you market yourself, you won’t lack people willing to buy your product.