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đź—Ł Stepan Medvedev đź—“ 03-18-2024 đź•® 20 minutes read
Is 3d printing a profitable business?
đź—Ł Stepan Medvedev đź•® 4-minute read
đź—“ 08-07-2024
When we ask whether is 3d printing profitable it is kind of like asking if sewing, or driving a car is profitable.
A 3d printer is just a tool, and when we talk about profits, we talk about business (we can call it a side project or hustle, it doesn't change the point).
So the answer would be:
But if the question is really like: is 3d printing still profitable, or is 3d printing a good business to start, or something like that, intending to find out if it is still a promising direction, I will try to express my thoughts (backed by 10 years of experience) below.
đź—“ 08-07-2024
When we ask whether is 3d printing profitable it is kind of like asking if sewing, or driving a car is profitable.
A 3d printer is just a tool, and when we talk about profits, we talk about business (we can call it a side project or hustle, it doesn't change the point).
So the answer would be:
- Yes, if you got your business side right;
- No, if you don’t know what are you doing, or you just want a “passive income source” (no such thing exists by the way).
But if the question is really like: is 3d printing still profitable, or is 3d printing a good business to start, or something like that, intending to find out if it is still a promising direction, I will try to express my thoughts (backed by 10 years of experience) below.
Is 3D printing in high demand?
When I hear that question, 2 types of things come to mind:
3d printing fits nicely into both trends if not directly, then as part of a local supply chain.
In other words: there is now and there will be demand for different kinds of 3d printing in the near future.
In my opinion, a 3d printing service, or “specialized” 3d printing service is better positioned to gain from both.
- Big worldwide “trend”, or rather shift towards customization. All kinds of things try to be more fit to the specific consumer;
- I think, that in the following years, the world will become less “globalized”, meaning “traditional” supply chains of the past 20 years will be rearranged, and part of the supply be localized. I’ve used an example of construction spending in another article, I will do it again here: https://www.businessinsider.com/us-building-factories-census-data-chips-act-inflation-reduction-act-2023-6?op=1 More and more supply chain parts would be localized all around the world. Plus big infrastructural projects are underway (depending on where you live, of course) to support the economy (see the Great Depression example).
3d printing fits nicely into both trends if not directly, then as part of a local supply chain.
In other words: there is now and there will be demand for different kinds of 3d printing in the near future.
In my opinion, a 3d printing service, or “specialized” 3d printing service is better positioned to gain from both.
Is 3D printing a good startup?
It is not on top of the hype wave (anymore), and “it won’t make you millions instantly”, but robotization alongside customization and localization discussed above are the manufacturing trends of the future.
And 3d printing combines all of those. You do the math.
Besides market size and trends, there are a few equally (if not more) important things I consider, when I think about starting something new. So 3D printing (or anything else) is a good startup, if:
So if you like it, are not afraid of work, and don’t expect to wake up rich instantly - there is a high chance for 3d printing to be a good startup for you.
And 3d printing combines all of those. You do the math.
Besides market size and trends, there are a few equally (if not more) important things I consider, when I think about starting something new. So 3D printing (or anything else) is a good startup, if:
- I like it/passionate about it (most important criteria);
- The local demand is there (here I've talked about how to measure demand);
- I’ve got my business side (yeah, again) straight;
So if you like it, are not afraid of work, and don’t expect to wake up rich instantly - there is a high chance for 3d printing to be a good startup for you.
Is 3D printing passive income?
No.
To be clear, at a certain point, when business and processes are established, it can be somewhat passive, as any other business. But that would have nothing to do with 3d printing specifically.
- There is no such thing in general, everything requires a plan, and attention (even investing in government bonds). If you want results to be good - you’ve got to work for it.
- 3D printing is a manufacturing business - and that is not easy, and definitely not passive.
To be clear, at a certain point, when business and processes are established, it can be somewhat passive, as any other business. But that would have nothing to do with 3d printing specifically.
Is 3D printing a profitable business?
Let's summarize.
Yes, if:
- That is the thing you like to do;
- You’ve checked the demand, and/or did other business due diligence and found an “angle”/opportunity/niche;
- You’ve got a plan (strategic and tactical) for your 3d printing business;
- You are ready to do the work;
No if:
- You want a passive income (come on now);
- You want a breezy/light experience, and expect fast and big turnarounds;
- You are only interested in/focused on 3d printers and the “tech” part of things, and/or don’t pay enough attention to the business side;
- You don’t know what you are doing.
If you are passionate about 3d printing and would like to build a business around it, but lack the necessary business knowledge and experience - I can help you get on the right track and fill those gaps, to make it profitable and sustainable right from the start.
I’ve been there and done that for 10 years.
SEE HOW I CAN HELP (AND THE THINGS I’VE DONE).
I’ve been there and done that for 10 years.
SEE HOW I CAN HELP (AND THE THINGS I’VE DONE).
Thinking of starting a 3DP business?
Running a 3DP business already?
Have questions?
Running a 3DP business already?
Have questions?
Save time and money - use my 10 years of knowledge and expertiese.
it is only $50/hour, and will save you a lot more than that.
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