Are you feeling entrepreneurial and have a passion for accessories? Starting a money clips business could be the perfect venture for you. Money clips are practical, stylish, and surprisingly in demand! If you head over to any online marketplace like Amazon or Etsy, you’ll find an abundance of money clip options to choose from. But don’t let the competition scare you. With some creativity and the right approach, you can have a successful money clips business of your own. In this guide, we will walk you through some important steps for building a successful money clips business.
Why Start a Money Clips Business?
You might be thinking, but why money clips? Do people still even use them? The answer is yes! Despite the rise of digital wallets and credit cards, there is still a market for custom money clips. This especially rings true for those who attend more formal events and prefer to carry cash and cards in a slim and – let’s admit it – more stylish way than a bulky wallet. Yves Saint Laurent once said, “Fashions fade, style is eternal.” And money clips definitely have a timeless and stylish appeal. YSL can sell money clips for $230, for example! Here are a few other reasons why starting a money clips business can be a smart move:
- Low start-up costs. Money clips are relatively small and simple accessories, so your initial investment will be minimal compared to other businesses.
- Less competition. While there are certainly established money clip brands, the market is not oversaturated like other small business sectors. Patches and pins are a popular trend right now, but there are fewer marketplace sellers offering money clips.
- Customization. There are so many fun ways to customize money clips. You can design a simple engraved money clip or a personalized money clip with an enamel emblem – the sky’s the limit.
- Small and lightweight. This is an important factor for small startups that don’t necessarily have the space to store bulkier products. With money clips, you can easily ship and fulfill orders from your home, and shipping costs will be lower too.
- Great gift option. Let’s face it, men can be hard to shop for. A personalized money holder makes a practical and thoughtful gift that will actually get used too. They make great groomsmen gifts, or Father’s Day presents. You’ll be helping out a lot of friends and family members with their gift-giving woes.
How to Start a Money Clips Business
If you’ve decided custom money clips are the way to go, then it’s time to get started! Here is a step-by-step guide on how to start your own money clips business:
Identify Your Target Market
Before you dive into creating your product, it’s important to know who you are selling to. Are you going to design money clips for men? Sports fans? Corporate professionals? This will help determine the style and design of your money clips.
If you’re struggling to figure out who your target market is, take a look at other successful money clip businesses and see who their customers are. This can give you a good idea of what niche you should focus on. You might have a particular “aesthetic” or style that you want to work with, and that can be your target market as well.
Design Your Product
Now comes the fun part – designing your money clips! With custom money clips, you have endless options. You can choose from different materials, finishes, shapes, sizes, and engravings. Think about what will appeal to your target market and what price points you want to offer. For example, if you’re designing money clips for men, think about what styles and designs they would like. If you want to target people who are googling “personalized money clips groomsmen” then your money clip designs should appeal to wedding parties.
At The/Studio, we can help you create fully customizable money clips. Here are some of the ways you can make your money clips unique:
- Size & Shape. You have complete freedom to create any shape or size you want for your money clips. You can go with a traditional rectangular shape or get creative and try a unique shape like a heart or whatever you can imagine.
- Emblem Options. You don’t have to add an emblem but if you do, there are a few different options to choose from, such as soft enamel, die struck, 3D mold, laser engraved, hard enamel, offset printed with epoxy.
- Finish. The finish of your money clip is another important factor to consider. Choose from shiny, for a sleek, reflective appearance; antique, for a vintage, timeless look; and satin, for a subtle, matte finish that’s smooth to the touch. You can also choose the metal type, from classic silvers and golds to rose gold, nickel, and copper… Basically, whatever you can dream up, we can create it.
- Packaging. Presentation matters! We can also package your money clips in poly pouches, velvet boxes, or custom acrylic cases. This is a great opportunity to really make a statement and add value to your product.
Partner with a Manufacturer
Once you have an idea of what kind of custom money clip you want to create, it’s time to find a manufacturing partner. While there are dropshipping options, this only works if you don’t want to have any creative control over your money clips. Dropshippers and print-on-demand companies have pre-made designs that you can add your logo to, but if you want something completely unique, then you’ll need a manufacturer. Here’s how a custom manufacturer works:
- Design. You’ll work with the manufacturer to create a design that meets your vision and specifications. This includes size, shape, metal type, and finish.
- Production. Once the design is finalized and approved, the manufacturer will send you samples for your approval before starting mass production.
- Delivery. Once the money clips are completed, they will be shipped directly to you or wherever you choose, ready for distribution!
It’s quite simple. With the right manufacturer, you’ll have a high-quality product that’s not a carbon copy of every other money clip on the market.
Set Up An Online Store
With your custom money clips in hand, it’s time to sell them! One of the best ways to do this is online. You can also sell them in person at events or by partnering with a retailer, but having an online store allows you to reach a wider audience and make sales 24/7. Here are some ways to sell online:
- Create a website. There are many e-commerce platforms that allow you to create a website without much technical know-how. Popular options include Shopify, WooCommerce, and Squarespace.
- Join a marketplace. If you don’t want the hassle of setting up a website just yet, you don’t have to! Joining a marketplace like Amazon or Etsy allows you to easily list and sell your products.
- Sell on social media. Plenty of social media platforms allow you to set up shop right there within the platform itself. Instagram, Facebook, Pinterest, and TikTok all have shopping capabilities that you can use to sell your money clips.
Marketing and Selling Your Money Clips
A huge part of being an entrepreneur is marketing. Easily looked over, it’s probably the single most important thing you can do to help your business grow. Here are some tips for marketing and selling your custom money clips:
- Seek out influencers. Influencer marketing has become a huge trend in recent years. Reach out to social media influencers and offer them some of your custom money clips in exchange for promoting them on their platforms. You don’t even need to target large influencers. Micro-influencers with a smaller but more targeted audience can be just as effective (and cheaper).
- Get creative on social media. Many small businesses have exploded in popularity thanks to creative social media marketing. Getting creative with your posts, stories, and reels can help you gather a loyal following without the massive investment in traditional advertising.
- Use paid ads. Of course, more traditional advertising can still be effective in reaching a wider audience. Google Ads, Facebook Ads, and Instagram Ads are all viable options for reaching potential customers. You can decide your budget and target audience to make the most out of your ad spend.
- SEO is more important than you think. Many people underestimate the importance of Search Engine Optimization (SEO) when it comes to e-commerce. Including high-frequency search terms like “personalized money clip for husband” or “personalized money clip for dad” on your website and product descriptions can help you rank higher on search engines like Google. This way, when potential customers are looking for a custom money clip, they will find your business first. Again, this is something you can do for free, but it’s also probably the most powerful way to increase your visibility if you can get it right.
Grow Your Business
Starting small and then expanding is a common strategy for many businesses. It’s one that can work well for selling custom money clips. Once you’re making some solid sales, you can invest a little of your profits back into your business. This is how you can take it to the next level.
You may want to use some of that money to expand your product line and offer a wider range of options. You could also use the money to invest in better packaging, marketing strategies, or even hiring some help to keep up with demand. The key is to make smart and strategic decisions that will continue to drive growth and success for your business.
Additionally, as your business grows, you can also consider expanding beyond just selling money clips. You could offer other personalized accessories such as custom patches, custom pins, or custom keychains. This is a great way to attract an even wider range of customers.
Get Your Money Clip Business Started with The/Studio
If you fancy becoming a money clip mogul, then you need a reliable manufacturer. Here at The/Studio, we have over 12 years of experience in manufacturing custom products for businesses just like yours. We offer a wide range of customization options, competitive prices, and fast turnaround times. And one of the best things about us is that we offer low minimum order quantities on all our products, so you can launch and grow at your own pace.
Starting a money clips business with The/Studio couldn’t be easier! Just set up an account on our website and start designing your custom money clips.
FAQs
Do people still use money clips?
Absolutely! Money clips are a timeless accessory that hasn’t gone out of style, especially in North America. They are also a practical way to carry cash and cards without the bulk of a wallet.
How well do money clips work?
Money clips are designed to securely hold cash and cards in place. They work well as long as the clip is made with quality materials and has a strong grip. This is why choosing a reputable manufacturer like The/Studio is important.
How much money can you put in a money clip?
It depends on the size and design of the money clip. Some clips can hold a few bills, while others can hold a larger amount. At The/Studio, you can choose the size and design of your money clip to hold more cash if you wish.
Are money clips worth it?
Absolutely! They’re a product people will use every day. They eliminate the need for bulky wallets and keep your cash organized and easily accessible. Sounds like a win-win to us!
