ID lanyards have become a necessity nowadays. Everywhere you look, people are wearing them. In schools, both students and professors wear lanyards as part of their uniforms; in events, people wear these for both identification and recognition; even on class trips, lanyards are considered to be must-haves. These lanyards have become so popular today that the demand for them is so high. It is then no wonder that many people are venturing into the business of selling lanyards.
If you are interested in this kind of business, there are some things that you must consider:
1. You must have a variety of products to offer.
When people speak of lanyards, they do not just mean one kind. There are a lot of lanyards available today and they can be classified according to material, length, and even purpose. For types of lanyards, the most common are polyester, nylon, tubular or woven. However, you may also avail of dyed lanyards if the need arises.
As an entrepreneur, you must be able to offer all these kinds of ID lanyards to your customers. For instance, when your clients are school administrators who are looking for lanyards for their students, you may want to recommend polyester lanyards because they are both durable and inexpensive. If, however, your customer is an event organizer who is planning an elegant school reunion, it is better that you endorse woven lanyards because they are sophisticated in style but are not that expensive.
2. Know your products by heart.
It is not enough that you have a wide range of lanyard supplies. It is also important that you know the difference between the products that you have. You should be able to distinguish which among those materials is the most durable and which is suited for temporary use only. Moreover, you should know which attachments will go well with the ID lanyards that your customer has chosen. It is important that you know when to use key rings, lobster claws, or j-hooks with the lanyards.
Aside from your product’s strength and proper attachments, you must also be able to explain the different purposes for which the materials are appropriate. You should thoroughly explain why tubular is the preferred material when it comes to sports events, or why polyester lanyards are the number one choice for school IDs.
3. Be willing to customize for your customers.
A lot of customers are looking for ID lanyards that can be customized. While it is true that not all those who sell lanyards can customize, it would not hurt if you offer this kind of service in your business as well.
If you intend to provide personalization services, you should at least have the necessary equipment for the following: hot stamping, laser engraving, embossing, screen printing, and full color printing. Out of these five services, it is hot stamping which you must be most knowledgeable of because customers avail of it most often. Hot stamping is the most economical choice when it comes to lanyard styles and it is best used on polyester material.
4. Offer competitive prices.
Because it is a promising product venture, it is only expected that many people are selling ID lanyards everywhere. There is a lot of competition when it comes to this business and aside from keeping your products in high quality, you must also take into consideration the prices you offer to your customers. The cost of your lanyards should not be too expensive as to shun away prospective buyers but it must not also be too cheap that you end up bankrupt. Instead, you must ensure that your products are at a reasonable price, according to the materials used and the designs employed.
So, the bottom line is this – if you wish to succeed in the lanyards business, you need to think carefully every step of the way.