I don’t know if this is your first time reading one of my posts. If it’s your first time, then let me tell you that I love talking about starting businesses and making more money based on my own professional experiences. Today, I will share some of the things I learned about leathermaking during my fieldwork. I will let you explore the different ideas that I encountered about the leathermaking industry. This will make you, yourself, not me, answer the question, “Is leathermaking a good business?”.
I’m assuming that if you are already googling this question, you are already excited about the industry.
It’s a good one.
No, not just good, but great!
Are you more excited now to know why?
Here’s how I will be answering this.
Jenny’s Opinion Aside: What Do Studies Say About Leathermaking?
I pulled out two trusted resources for you with some figures related to leathermaking.
The first is this:
A Deloitte study highlighted that the global leather goods market is going big, reaching a value of $428 billion by 2025. The same study also found that the leather goods market is becoming more fragmented than before. Why? Because more and more small and medium-sized enterprises (SMEs) are entering the market. And this means a strong chance for you, our very dear entrepreneur, to enter the market.
The second one is a McKinsey Study that again indicated a significant growth in the leathermaking market owing to the growing popularity of sustainable and ethical fashion.
Is Leathermaking A Good Business?
I promised a few lines ago that you would be coming up with your own answer to this. But I can’t help but say: hell YES! And honestly, I will give all the good answers you are looking for now.
This does not mean in any way that this business does not have drawbacks. Of course, there are many. But from where I see it, the perks and benefits far outweigh the challenges. Good planning of the business will help you start off just fine because you have a good foundation.
Leathermaking Is A Cash Cow
Adding leather goods to the products your business is creating adds excellent high quality. But this is not the only thing that leather does to any product. Indeed, leather raises the value and selling price of any product. Just by adding the genuine leather label, you tell people that this product is worth paying more money for it. People love the smell and feeling of owning leather-made pieces, and they understand how valuable they are.
Leathermaking Is An Easy And Fast Skill To Learn
I was in charge of an entrepreneurship project, and as the project manager leading this, I decided that leathermaking would be the first skill that participants would learn. Probably wondering why. When I did my research, I found that you can learn the craft and be able to create your own leather piece in just four days! Imagine? I headed to professional training institutes and made sure that this was real. I saw men and women making unique handmade leather wallets and pouches. And because they were all of good quality, all the pieces were sold in just one month. So, yes, you can learn the skill easily and in a very short duration. Also, you can hire a whole team and train them quickly to get your business going smoothly.
Leathermaking Can Always Be Trendy
You would never believe the many things you can mix leather with and still come up with trendy pieces. You can craft leather products with fabric, silk, velvet, and many more, and they will all still look good. You will be able to make so many collections and come up with your own creative pieces. Leather looks good with so many great designs, and you will get your own masterpieces.
Leathermaking also goes hand in hand with some of the emerging trends in production, such as creating pieces in an environmentally friendly way. Leather is a sustainable material. So, labeling your pieces with something saying how much you value the environment when producing them will be very appealing to many potential buyers. Another marketing edge here is that your leather pieces are durable and a good investment for any customer buying them. A similar related idea is that leather is an ethical material that can always be produced in a fair and reasonable way. Again, using a message stating this in your marketing will attract buyers who call for social and labor rights.
If Leathermaking Is A Good Business and You Are Convinced Already, What More Can We Offer You?
Two things: tools and experience. And we can provide you with as much as you need from both.
For the tools, we have many downloadable pitch decks and business plan templates on Albusi’s website that serve as excellent guidance to prepare business tools for a leathermaking business gig. These will give you a concrete idea to write all the contents that need to be put in any document. We also build your own! The Albusi team can craft a one-of-a-kind pitch deck just for you! This is another exceptional service to entrepreneurs that you should check out. The linked page will tell you more about what our previous clients say about this service.
This is not just it. The second thing that you will need here is experience. If you need to talk more about your idea, you can also come to one of our freelancers. They will help you with everything you need to plan for your business. They are great at pitching and will help you with the tweaks you need to pitch your idea to others, too.
Happy Learning to All Entrepreneurs!
Meet The Author Of This Article
I’m Jenny Ayman, a project manager in the development field with specific knowledge and experience in capacity building and entrepreneurship programs. I aspire to transfer the hands-on experience I gain in my professional career through writing.
Also, if you need help planning your business, I recommend checking out some of our freelancers’ business plans or pitch decks!