Ever since the COVID-19 pandemic, the news headlines have been stuffed with grim tidings about the economy, from high rates of inflation to major corporate layoffs. Though only time will tell, many experts say there’s a recession on the horizon.
For business owners, this financial uncertainty can be a source of real anxiety. One way to cope with this anxiety is to consider launching, or continuing to build, your own print on demand business.
Learn why outsourcing a PoD fulfillment network significantly reduces operational costs of your business.
The print on demand business model can actually be a great option during an economic downturn. Having a side hustle can help you generate a little extra income for an emergency savings fund, and it can spread out your financial risk so you’re not completely reliant on one source of income. Plus, print on demand offers you a chance to sell recession-proof custom products.
But more on that later.
Looking for Recession-Proof Businesses? Try Print on Demand.
First, let’s explore some of the factors that make print on demand a good option during an economic downturn, particularly for those who already own other businesses and simply wish to diversify their revenue streams.
How Print on Demand Benefits Recession-Proof Businesses
Print on demand is an inventory-free model.
The central characteristic of print on demand is that there’s no bulk inventory to invest in ahead of time; instead, each order is printed and fulfilled individually. What this means for business owners is that there is no need to spend a ton of money on products before you launch your business. Print on demand is fairly undemanding when it comes to startup costs.
You don’t have to invest in costly equipment or labor.
Along the same lines, when you choose the right print on demand fulfillment partner (like Gooten), you can take advantage of our vast manufacturing network. We’ve established solid relationships over the years with industry-leading suppliers and manufacturers, which means you don’t have to make a big investment in equipment or inventory.
The product options are virtually limitless.
Another benefit to the print on demand model is that there are virtually infinite product combinations you can offer, from custom shirts, hoodies, and track pants to wall hangings, mugs, and tote bags. The sheer diversity of products provides myriad ways to connect with customers and to diversify your revenue streams.
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You can explore niches that tend to thrive during economic downturns.
While some industries really suffer during a recession, others tend to thrive. Historically, niches such as health/wellness, home maintenance, and healthcare all see upticks during periods of economic uncertainty. A print on demand business allows you to experiment in some of these fields, offering recession-proof custom products that fit within these reliable industries.
Top Suggestions for Recession-Proof Custom Products
As you think about running a print on demand business, it may be helpful to focus on certain types of products that have proven themselves to be popular no matter the economic climate. The Gooten print on demand catalog includes a number of custom products that are fairly recession-proof, including:
- Baby products – No matter the financial outlook, people are always going to have babies, and that means they’ll need apparel, gear, nursery items, etc.
- Clothing – Athleisure items, including sweatshirts, and hoodies are especially popular, as personal wellness remains a big priority even during recession.
- Pet-oriented products – Pet lovers will always dote on their furry friends, even when the economic forecast looks grim. Custom pet products are perennial favorites.
- Home products – During economic downturns, people tend to stay home more and go out less, making home decor products especially notable.
These are just a few examples of recession-proof products available in the Gooten print on demand catalog.
Explore More Custom Product Ideas
Here at Gooten, we’re always adding new products to our inventory; in fact, our goal is to become the largest print on demand network in the world. That means our catalog provides almost unlimited options for anyone looking to set up a recession-proof side hustle, or even to embrace print on demand as their primary income stream.
We’d love to tell you more about our custom products, or about the benefits of partnering with the Gooten print on demand network. Reach out to us any time you’d like to chat.