Last Updated on June 8, 2020 by Jason
Not too long ago, laser engraving business owners viewed their services as limited to personalizing products for corporations used in promotions and for recognition awards. With the rise in laser engraving businesses over the past few years, creativity has come to the forefront of the industry, driving it to new heights.
While the small investment required for starting such a business is appealing, the wider range of applications for which this technology is being used and can be used attracts new business owners almost every day. This is a growth industry that is expected to continue to grow in the coming years with no signs of stopping.
What other four other factors that are driving the growth of laser engraving?
Popularity of Personalization
The growth e-commerce sites like Etsy, where artists and crafters can sell their goods and services, personalization has become a huge industry on its own. Laser engraving fits right into that industry because these machines are capable of engraving some of the most intricate designs and text available.
Some of the most requested personalized items include wedding champagne flutes, dog collars and tags, pens, golf tees, wooden signs and plaques, and other unique gifts and items that you won’t find in the mass production industry.
High quality laser engraving machines were once out of the price range of the average person, but today, they are affordable enough for people to start their own home business. The desire to operate a home business is part of what drives the laser engraving industry.
This equipment is no longer exclusive to big factories and manufacturers. Likewise, the rise of accessibility has driven customers to small businesses who provide unique, personalized products. For less than $8,000 a person can start their own laser engraving business from home and sell their goods and personalization services online or in a brick-and-mortar store.
The third top reason laser engraving is so popular is that this technology has opened up new, creative markets for the industry. The maker movement drives new and different niches for personalization and for creating laser engraved products.
Digital signs, retail signs, metalworking, woodworking, model-making, gadgets, sports equipment, smartphones, apparel shops, and other industries are just some of the newer markets where laser engraving is growing into.
Attachments and Accessories
Whether the laser engraving industry’s rise to popularity has driven the need for more attachments and accessories, or these new accessories have driven the market for laser engraving business is debatable. It doesn’t really matter in the scheme of things since the industry is growing one way or another.
Rotary attachments, optical lenses, specialty software programs and other accessories simply add another level of craftsmanship and open new markets for business owners with laser engraving machines.
Some of the other factors that seem to drive the rise in the laser engraving industry include the rising need for business branding, the rise in industrial applications, the do-it-yourself maker movement, and the accessibility of laser machines.
These are things you need to know whether you want to start a new laser engraving business or expand your existing business.