Business plan 3d printing

3D Printing Business Plan Template & Guide [Updated 2023]

Over the past 20+ years, we have helped over 2,000 entrepreneurs and business owners create business plans to start and grow their 3D printing businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a 3D printing business plan template step-by-step so you can create your plan today.

A business plan provides a snapshot of your 3D printing business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

If you’re looking to start a 3D printing business, or grow your existing 3D printing business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your 3D printing business in order to improve your chances of success. Your 3D printing business plan is a living document that should be updated annually as your company grows and changes.

With regards to funding, the main sources of funding for a 3D printing business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

Personal savings is the other most common form of funding for a 3D printing business. Venture capitalists will usually not fund a 3D printing business. They might consider funding a 3D printing business with a national presence, but never an individual location. This is because most venture capitalists are looking for millions of dollars in return when they make an investment, and an individual location could never achieve such results.  With that said, personal savings and bank loans are the most common funding paths for 3D printing businesses.

If you’d like to quickly and easily complete your 3d Printing business plan, download our proven business plan template here.

If you want to start a 3D printing business or expand your current one, you need a business plan. Below are links to each section of your 3D printing business plan template:

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of 3D printing business you are operating and the status. For example, are you a startup, do you have a 3D printing business that you would like to grow, or are you operating a chain of 3D printing businesses?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the 3D printing industry. Discuss the type of 3D printing business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

In your company analysis, you will detail the type of 3D printing business you are operating.

For example, you might operate one of the following types of 3D printing businesses:

1. Rapid Prototype Printer: this type of 3D printing business focuses on quickly printing prototypes for companies or individuals that are designing new products.
2. Aerospace, Automotive and Railway Printer: this type of business focuses on manufacturing mechanical pieces used in constructing airplanes, cars, trucks and trains.
3. Consumer Products Printer: this type of 3D printing focuses on producing consumer goods such as footwear, eyewear and jewelry.

In addition to explaining the type of 3D printing business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of customers served, number of positive reviews, number of corporate clients, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Bonus: Download our business plan template here and complete your 3d Printing business plan today.

In your industry analysis, you need to provide an overview of the 3D printing industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the 3D printing industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your 3D printing business plan:

• How big is the 3D printing industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your 3D printing business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

The customer analysis section of your 3D printing business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: fashion designers, medical device engineers, and car manufacturers.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of 3D printing business you operate. Clearly, fashion designers would respond to different marketing promotions than car manufacturers, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most 3D printing businesses primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

Finish Your

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Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other 3D printing businesses.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes design services, engineering services and manufacturing services. You need to mention such competition as well.

With regards to direct competition, you want to describe the other 3D printing businesses with which you compete. Most likely, your direct competitors will be 3D printers located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What types of materials do they provide 3D printing services for?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide higher quality printing or faster turnaround times?
• Will you provide services that your competitors don’t offer?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a 3D printing business plan, your marketing plan should include the following:

Product: In the product section, you should reiterate the type of 3D printing company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to 3D printing, will you provide design services, shipping services or other engineering services?

Price: Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place: Place refers to the location of your 3D printing company. Document your location and mention how the location will impact your success. For example, is your 3D printing business located in a busy retail district, business park, industrial district, etc. Discuss how your location might be the ideal location for your customers.

Promotions: The final part of your 3D printing marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Advertising in local papers and magazines
• Reaching out to local websites
• Flyers
• Social media marketing
• Local radio advertising

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your 3D printing business, including quoting printing projects, reviewing designs with an engineering team, programming the printer to complete the design, fulfilling production quota and delivering product to the client.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to print your 100th design, or when you hope to reach $X in revenue. It could also be when you expect to expand your 3D printing business to a larger facility.

To demonstrate your 3D printing business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in managing 3D printing businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing 3D printing, other engineering services, or successfully running small businesses.

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement: an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you print three new designs per day or fulfill 30 shipments per quarter? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets: Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your 3D printing business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement: Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a 3D printing business:

• Location build-out including design fees, construction, etc.
• Cost of equipment and supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or blueprints of designs you are working on.

Putting together a business plan for your 3D printing business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the 3D printing industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful 3D printing business.

Finish Your

Don’t you wish there was a faster, easier way to finish your 3d Printing business plan?

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Click here to finish your 3d Printing business plan today.

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

Click here to see how Growthink’s professional business plan consulting services can create your business plan for you.

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How to Start a 3D Printing Business

Starting a 3D printing business can be very profitable. With proper planning, execution and hard work, you can enjoy great success. Below you will learn the keys to launching a successful 3D printing business.

Importantly, a critical step in starting a 3D printing business is to complete your business plan. To help you out, you should download Growthink’s Ultimate Business Plan Template here.

1. Choose the Name for Your 3D Printing Business
2. Develop Your 3D Printing Business Plan
3. Choose the Legal Structure for Your 3D Printing Business
4. Secure Startup Funding for Your 3D Printing Business (If Needed)
5. Secure a Location for Your Business
6. Register Your 3D Printing Business with the IRS
7. Open a Business Bank Account
8. Get a Business Credit Card
9. Get the Required Business Licenses and Permits
10. Get Business Insurance for Your 3D Printing Business
11. Buy or Lease the Right 3D Printing Business Equipment
12. Develop Your 3D Printing Business Marketing Materials
13. Purchase and Setup the Software Needed to Run Your 3D Printing Business
14. Open for Business

1. Choose the Name for Your 3D Printing Business

The first step to starting a 3D printing business is to choose your business’ name.  

This is a very important choice since your company name is your brand and will last for the lifetime of your business. Ideally you choose a name that is meaningful and memorable. Here are some tips for choosing a name for your 3D printing business:

1. Make sure the name is available. Check your desired name against trademark databases and your state’s list of registered business names to see if it’s available. Also check to see if a suitable domain name is available.
2. Keep it simple. The best names are usually ones that are easy to remember, pronounce and spell.
3. Think about marketing. Come up with a name that reflects the desired brand and/or focus of your new business venture.

One of the most important steps in starting a 3D printing business is to develop your 3D printing business plan. The process of creating your plan ensures that you fully understand your market and your business strategy. The plan also provides you with a roadmap to follow and if needed, to present to funding sources to raise capital for your business.

Your business plan should include the following sections:

1. Executive Summary – this section should summarize your entire business plan so readers can quickly understand the key details of your 3D printing business.
2. Company Overview – this section tells the reader about the history of your 3D printing business and what type of 3D printing business you operate. For example, are you a service bureau, product manufacturer, or a print-on-demand service?
3. Industry Analysis – here you will document key information about the 3D printing industry. Conduct market research and document how big the industry is and what trends are affecting it.
4. Customer Analysis – in this section, you will document who your ideal or target customers are and their demographics. For example, how old are they? Where do they live? What do they find important when purchasing products or services like the ones you will offer?
5. Competitive Analysis – here you will document the key direct and indirect competitors you will face and how you will build competitive advantage.
6. Marketing Plan – your marketing plan should address the 4Ps: Product, Price, Promotions and Place.

• Product: Determine and document what products/services you will offer 
• Prices: Document the prices of your products/services
• Place: Where will your business be located and how will that location help you increase sales?
• Promotions: What promotional methods will you use to attract customers to your 3D printing business? For example, you might decide to use pay-per-click advertising, public relations, search engine optimization and/or social media marketing.

7. Operations Plan – here you will determine the key processes you will need to run your day-to-day operations. You will also determine your staffing needs. Finally, in this section of your plan, you will create a projected growth timeline showing the milestones you hope to achieve in the coming years.
8. Management Team – this section details the background of your company’s management team.
9. Financial Plan – finally, the financial plan answers questions including the following:

• What startup costs will you incur?
• How will your 3D printing business make money?
• What are your projected sales and expenses for the next five years?
• Do you need to raise funding to launch your business?

Next you need to choose a legal structure for your own business and register it and your business name with the Secretary of State in each state where you operate your business.

Below are the five most common legal structures:

A sole proprietorship is a business entity in which the owner of the 3D printing business and the business are the same legal person. The owner of a sole proprietorship is responsible for all debts and obligations of the business. There are no formalities required to establish a sole proprietorship, and it is easy to set up and operate. The main advantage of a sole proprietorship is that it is simple and inexpensive to establish. The main disadvantage is that the owner is liable for all debts and obligations of the business.

A partnership is a legal structure that is popular among small business owners. It is an agreement between two or more people who want to start a 3D printing business together. The partners share in the profits and losses of the business. 

The advantages of a partnership are that it is easy to set up, and the partners share in the profits and losses of the business. The disadvantages of a partnership are that the partners are jointly liable for the debts of the business, and disagreements between partners can be difficult to resolve.

A limited liability company, or LLC, is a type of business entity that provides limited liability to its owners. This means that the owners of an LLC are not personally responsible for the debts and liabilities of the business. The advantages of an LLC for a 3D printing business include flexibility in management, pass-through taxation (avoids double taxation as explained below), and limited personal liability. The disadvantages of an LLC include lack of availability in some states and self-employment taxes.

A C Corporation is a business entity that is separate from its owners. It has its own tax ID and can have shareholders. The main advantage of a C Corporation for a 3D printing business is that it offers limited liability to its owners. This means that the owners are not personally responsible for the debts and liabilities of the business. The disadvantage is that C Corporations are subject to double taxation. This means that the corporation pays taxes on its profits, and the shareholders also pay taxes on their dividends.

An S Corporation is a type of corporation that provides its owners with limited liability protection and allows them to pass their business income through to their personal income tax returns, thus avoiding double taxation. There are several limitations on S Corporations including the number of shareholders they can have among others.

Once you register your 3D printing business, your state will send you your official “Articles of Incorporation.” You will need this among other documentation when establishing your banking account (see below). We recommend that you consult an attorney in determining which legal structure is best suited for your company.

4. Secure Startup Funding for Your 3D Printing Business (If Needed)

In developing your 3D printing business plan, you might have determined that you need to raise funding to launch your business. 

If so, the main sources of funding for a 3D printing business to consider are personal savings, family and friends, credit card financing, bank loans, crowdfunding and angel investors. Angel investors are individuals who provide capital to early-stage businesses. Angel investors typically will invest in a 3D printing business that they believe has high potential for growth.

There are a few things to consider when looking for a location for your 3D printing business. You’ll want to find a space large enough to accommodate your equipment. Additionally, the space should be in a convenient location for your customers. Another factor to consider is the cost of the rent. You’ll want to find an affordable location that offers the space and resources you need.

You may want to consider renting a space in an industrial park or business incubator, which can provide the resources to get your business up and running.

Next, you need to register your own business with the Internal Revenue Service (IRS) which will result in the IRS issuing you an Employer Identification Number (EIN).

Most banks will require you to have an EIN in order to open up an account. In addition, in order to hire employees, you will need an EIN since that is how the IRS tracks your payroll tax payments.

Note that if you are a sole proprietor without employees, you generally do not need to get an EIN. Rather, you would use your social security number (instead of your EIN) as your taxpayer identification number.

It is important to establish a bank account in your 3D printing business’ name. This process is fairly simple and involves the following steps:

1. Identify and contact the bank you want to use
2. Gather and present the required documents (generally include your company’s Articles of Incorporation, driver’s license or passport, and proof of address)
3. Complete the bank’s application form and provide all relevant information
4. Meet with a banker to discuss your business needs and establish a relationship with them

If you’d like to quickly and easily complete your business plan, download Growthink’s Ultimate Business Plan Template and complete your business plan and financial model in hours.

You should get a business credit card for your 3D printing business to help you separate personal and business expenses.

You can either apply for a business credit card through your bank or apply for one through a credit card company.

When you’re applying for a business credit card, you’ll need to provide some information about your business. This includes the name of your business, the address of your business, and the type of business you’re running. You’ll also need to provide some information about yourself, including your name, Social Security number, and date of birth.

Once you’ve been approved for a business credit card, you’ll be able to use it to make purchases for your business. You can also use it to build your credit history which could be very important in securing loans and getting credit lines for your business in the future.

There are a few licenses and permits you will need to start a 3D printing business. You will need a business license, a trade name registration, and a sales tax permit. You may also need a zoning permit. Check with your local government to see if there are any other licenses or permits that you will need.

The type of insurance you need to operate a 3D printing business largely depends on the type of printing services you offer.

Some business insurance policies you should consider for your 3D printing business include:

• General liability insurance: This covers accidents and injuries that occur on your property. It also covers damages caused by your employees or products.
• Workers’ compensation insurance: If you have employees, this type of policy works with your general liability policy to protect against workplace injuries and accidents. It also covers medical expenses and lost wages.
• Commercial property insurance: This covers damage to your property caused by fire, theft, or vandalism.
• Business interruption insurance: This covers lost income and expenses if your business is forced to close due to a covered event.
• Professional liability insurance: This protects your business against claims of professional negligence.

Find an insurance agent, tell them about your business and its needs, and they will recommend policies that fit those needs. 

To start a 3D printing business, you’ll need a 3D printer, filament, and a computer. The type of filament will depend on the material you want to print. There are many different types of filament available, so you can find one that matches your needs. You’ll also need a computer to design your prints.

Marketing materials will be required to attract and retain customers to your 3D printing business.

The key marketing materials you will need are as follows:

1. Logo: Spend some time developing a good logo for your 3D printing business. Your logo will be printed on company stationery, business cards, marketing materials and so forth. The right logo can increase customer trust and awareness of your brand.
2. Website: Likewise, a professional 3D printing business website provides potential customers with information about the products and/or services you offer, your company’s history, and contact information. Importantly, remember that the look and feel of your own website will affect how customers perceive you.
3. Social Media Accounts: establish social media accounts in your company’s name. Accounts on Facebook, Twitter, LinkedIn and/or other social media networks will help customers and others find and interact with your 3D printing business.

The primary software you’ll need to run a 3D printing business is a Computer-Aided Design (CAD) software to help you design 3D prints. You’ll also need a slicing program, which takes your CAD designs and turns them into printing instructions for the 3D printer. You may also want to invest in some general business software such as customer relationship management (CRM) software, accounting software, and project management software.

You are now ready to open your 3D printing business. If you followed the steps above, you should be in a great position to build a successful business. Below are answers to frequently asked questions that might further help you.

How to Finish Your Ultimate Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your 3D printing business plan?

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Click here to finish your 3D printing business plan today.

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Which 3D printing business will be successful? / Habr

What kind of successful business can be opened using 3D printers? I will make a reservation right away that so far there are few such examples. I'll tell you about some of them.

3D Printing Studio

The first thing that comes to mind is setting up a 3D printing studio. Its business model is based on modeling and printing models for the client. The main success factor is to ensure a consistently high level of equipment utilization. For such a project, it is more important to focus on mass replication than on printing single copies, even in large volumes. The cost of printing a small model should be low, and the labor costs should be high. The main production processes are the high-quality development of printing technology for each specific detail or project, the selection of the right material. The client model is checked for errors, and both the material and the printer are selected. It remains to agree on the price and, in fact, print the model. It is necessary to approve it with the customer, and, if necessary, modify it.

You can build such a studio with almost any level of investment: start with one or two printers, gradually increase the equipment fleet or immediately invest in a 3D printer fleet. You can also purchase industrial equipment for functional prototyping and small-scale production. But in any case, the most important thing is to correctly build the business model of the enterprise.

Small-scale production

The second most popular business idea is a small-scale production studio. In this case, the main task is not to find a client, but to understand what product will be in demand. There are many examples of such studios, and their success primarily depends on the quality and originality of the products offered. For clarity, consider the production of molds for the manufacture of confectionery. They are easy to model, customize, print and sell. The target audience of this product is clear and stable, the product is easily promoted in social networks, the cost is low, and the most budget 3D printers are suitable for production. The main thing here is the optimal ratio of the number of devices with production volumes. Another popular example: accessories for gamers. Game weapons, masks, costume elements from computer games for cosplayers. The product is not so massive, but consistently in demand, and its price niche is significantly higher. More time will be spent on modeling and printing, but in return you get markets around the world, since the studio is not limited to the location of your region.

3D printing of medical products

The third version of the 3D printing studio is medical. Today it is very much in demand. Prostheses, orthoses, orthopedic insoles, hearing aids, temporary crowns, aligners, spectacle frames are complex in conventional production, but our technologies greatly simplify this process. The equipment here is selected based on the specific task. Usually one company is focused on printing a particular line of models. The accumulated experience allows you to create a product with unique properties as efficiently as possible. In this direction, business goes in tandem with science. The success of the enterprise directly depends on innovative approaches in orthopedics and medicine in general.

3D printing of art objects

Fourth place will be given to art. 3D printing of sculptures is another way to capitalize on this technology. Creating a large art object is not an easy task, and certainly not a cheap one. However, many interiors or public spaces are in need of an aesthetic upgrade. Modern sculptors began to use the new technology in their work precisely to create final products, and not prototypes or layouts, as one might think. To achieve this goal, large-format printers using FDM technology (the model is formed from molten plastic) are needed. Typically, a computer model is divided into parts and printed on several 3D printers, after which it is glued, sanded, primed and painted in the desired colors, sometimes with the addition of texture. This makes the sculpture almost indistinguishable from those made from natural materials.

Another option is to show the model in full size, without post-processing, which allows viewers to see the 3D printed model at different stages of its creation.

It is difficult to fit into a short article all the variety of opportunities that 3D printing offers to enthusiasts of this technology, but we see that every day there are more and more new interesting stories of its application. It gives impetus to the development of new technologies and brings innovation to seemingly established areas such as the creation of sculptures or gingerbread. As the American inventor Chuck Hull, who patented the first 3D printer, said: “I don’t have a crystal ball that will tell me what should happen in the future, but one thing I know for sure: when smart people work on a specific task, they gradually move forward. forward".

Alexander Kornveits

Founder and CEO of Tsvetnoy Mir

3D printing business ideas

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  Prospects for using 3D printing in dentistry, limb prosthetics, souvenirs, building construction, etc.

• The world's first 3D printed settlement in Latin America

  Published in: 3D printing news, 3D Printing Business Ideas

  Designer Yves Béhart unveiled plans to build 3D printed homes for an impoverished farming community in Latin America.

• How are 3D printers used in the automotive industry?

  Posted in: We print 3D, 3D printing business ideas

  Application of 3D printers in the automotive industry, use of 3D printing technology for prototyping and small-scale production

• Young Entrepreneur Aims to Send 3D Printed Rockets into Space

  Los Angeles-based Relativity Space has already printed nine rocket motors and three second stages for its model rocket, called the Terran 1, with a first test flight scheduled for late 2020 of the year.

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