Start a Trophy, Medal, Award & Engraving Business

This business supplies individuals, teams and companies with customised trophies, award plaques, medals, name badges, shields, 21st keys etc. The awards are usually customised using engraving, but can also take some or other form of customisation (like a photo).

Market Need
A trophy, medal or award is a tangible, durable reminder of a specific achievement, and serves as recognition or evidence of merit. It can be an item of pride, boost someone’s self-confidence, motivation and even productivity.

Business Model
The far most popular model in this industry is retail and customisation, this business buys trophies, award plaques, medals from manufacturers and customises it (usually via engraving), while some places do make custom items. There is also opportunity further up the supply chain, manufacturing, importing and wholesale etc.

Target Market
The target market for this business is schools, sports clubs, and companies for corporate awards etc.

Sales Channel
This business is usually operated via a retail shop where people can come in and order but has moved online as well in recent years.

Other products
This business also sometimes offer other unrelated products that be produced with the machines they have such as rubber stamps. A strategy known as “economies of scope” (they have already invested in the engraving machine that can also engrave rubber so it is not expensive to add stamps the product mix). This business also sometimes offers a copper plating service – something they usually outsource.