In June 2021, 440,000 new businesses were started, capping a record-high, 16-month period for startups in the US referred to as the COVID Small Business Boom. Additionally, the Wall Street Journal recently reported that the number of unincorporated self-employed people in the U.S. reached 10 million in February 2022, or 400,000 more than when the pandemic began.
If you’re thinking about going out on your own, the promotional products industry is a great place to build a business and be your own boss. According to the Advertising Specialty Institute, promo is a $23.2 billion industry, and its outputs are all around us in the branded merchandise we see and use every day. Less visible are the many talented business leaders working to customize and distribute that merchandise.
- There is a low barrier to entry. The capital investment to become a promotional products distributor is minimal, with no need to invest in real estate, major equipment or incremental labor.
- Building your client base starts with engaging people you already know. By connecting with those in your personal network, you can win orders even as you create new relationships and strengthen client loyalty.
- Unlike many entrepreneurial ventures, you don’t have to fly solo. You’re supported by research and insights from industry associations like ASI and PPAI – and you can affiliate with communities like AIA.
- Profit margins are in excess of 30%, and because of the low capital investment, you keep more of what you earn.
- The vast selection of products appeals to a wide range of clients, allowing you to specialize in categories that inspire you most.
- Today’s technology enables you to maintain a flexible schedule and deliver customer satisfaction from anywhere. Your personal goals and preferences guide where and when you work.
- The industry is positioned to help you scale your business at your own pace.
- Everyone loves promo and promo is everywhere; you can sell branding and fun every day!