Can you sell headwear with your company’s logo on it?
Branded merchandise is one of the best ways for companies to generate revenues and sales. However, it doesn’t always work for everyone. Before being able to sell t-shirts, hats, and headwear with your brand on it, you need people to be interested in your brand first!
A good example? Consider celebrity entrepreneur Elon Musk and his venture, “The Boring Company.” As the name might imply…nothing about this company is exciting per se; it is an enterprise dedicated to the escalation of tunnels (using a tunnel “boring” machine, hence the pun).
However, the tech mogul was able to capitalize on the hilarious name of his company, buy producing related merchandise. He introduced a branded baseball cap, which started out as a joke of sort, but it went on to sell over 50.000 units, at $20 dollars per hat. Not too bad for an amusing joke, isn’t it?
Elon Musk was also able to harness his visibility on social media, particularly Tweeter, to seamlessly promote the hat without any costly marketing effort. In just under a year, the company managed to sell over $700.000 worth of baseball caps.
This story is a perfect example how to generate sales with merchandise related to your company or brand, even if you don’t deal with apparel as a primary source of income. Any companies with a catchy brand name or with one that means something to people could be able to generate extra sales from baseball caps, other headwear or clothing items. You might think that it’s quite easy for someone like Elon Musk to accomplish such a feat due to his massive following, but you’d be surprised: even small businesses can generate profits this way. For instance, a Brooklyn-based coffee shop, “Variety,” a relatively small business within 4 locations throughout NYC, actually sells T-shirts, beanies, sweaters, and mugs, generating a decent stream of side-project, in addition to their main product: coffee!
If you get creative, you could accomplish the same with your business.