If it’s one thing all savvy business owners have in common, it is the constant desire to grow and diversify their business. When talking about business growth, there are a few common strategies used to achieve this goal. Continue reading to uncover two ways to dramatically increase your profits with a laser cutting and engraving machine.
1. Product Enhancement
Product enhancement is the concept of expanding your product line or adding new features or offerings to increase your sales and profits. Think about it as growing your business vertically. Take Paul for example. Paul owns a gift shop where he sells all kinds of items. One of his most popular items is a children’s wooden toolbox, and he sells it for $10. Paul purchases an AP Lazer machine and can add artwork, text and even photos to just about any material. Paul has a customer who is buying a gift for his favorite grandson and is looking for something extra special. Paul adds the child’s nickname to the toolbox and sells it to grandpa for $50. Where did that extra $40 come from? Simple! By making emotions, feelings, and memories tangible on a simple toolbox, Paul has exponentially increased its value; there is no other toolbox like it. Paul created a priceless product that can’t be found anywhere else, and grandpa is more than willing to pay for it.
The second method of business growth that is achievable with a laser cutter and engraver is diversification. In other words, quickly grow your business horizontally by offering a broader product base reaching brand new PROFITABLE markets.
Let’s use Marianne as an illustration. She owns a pet crematory, and she offers pet memorials for families who want to memorialize their beloved pets. Before owning an AP Lazer, she outsourced all of her personalization needs. This took more time than she liked, and she didn’t have much control over the finished product, so she integrated an AP Lazer into her business. Now she can complete the jobs just as she wants them and on her time schedule- all while gaining a deeper connection with her customers (which is a prime example of vertical growth). Marianne opens up an Etsy shop where she starts not only selling laser engraved pet memorial products, but also a wide range of other personalized items. She sells customized stainless tumblers, wedding party gifts, and even home décor. This is a perfect example of horizontal growth.
Profitable Market Opportunities
A laser is so versatile that it fits incredibly well into a vast variety of markets. To give you some insight, here are a few profitable markets you can tap into with an AP Lazer:
Implementing strategies for both vertical and horizontal growth will result in some massive profit growth for your business. The best part? It’s possible to see an almost immediate ROI! With a little determination and hard work, you can quickly implement these business growth strategies to start generating massive amounts of profit for your business in no time. They are easy to duplicate with nearly any product making the growth of your business entirely up to you and what you can put into it.
There’s Even More!
In addition to these two concepts of growing your business, we offer a few other things that will make you more confident than ever before when adding a laser to your business.
- Patented Open Architecture – A roll away home base is what sets AP Lazer apart from any other laser system on the market. This feature makes it possible to add custom artwork and personalization to nearly anything, regardless of its size or weight! You never know what you might end up engraving! You can learn more about our open architecture here.
- 24/7 Live Technical Support – Our team of technicians are always just a phone call away, and ready to help.
- Turn-Key Packages – No matter which machine you decide is right for your business, they all come with all of the accessories, tools, and software you need to get started making money right away. No hidden costs, ever!
- 1-2-3 Warranty – We offer a three-year parts, two-year tube and mirror, and one-year lens warranty, one of the best warranties in the business.
If you’re ready to grow your business with these easy-to-implement strategies, give us a call today to schedule a one-on-one business consultation, or fill out a request form by clicking here.