Printing changed the world. The first printing press meant that books, literature, notes, and even notices were no longer for the elite alone. With the printing press, literacy rates began to rise, and we now live in a time where the majority of the population can read. We often take this for granted, but it’s integral to our society today.
While your printing business idea isn’t likely to completely shift society, it’s still a solid business model that comes with many revenue opportunities that can help you succeed – if you use this guide and take the necessary steps:
Hash Out Your Business Plan
Every business needs a plan. A strong business plan for a digital printing business needs to outline the market opportunities, the equipment you need, and even how to connect and establish connections with your suppliers and customers alike. If you can answer all the questions an investor could possibly ask about how you intend to make your company succeed, you’re on the right track. While printing companies aren’t usually selected by traditional investors, that business plan can be an important tool to secure the loan you’ll need to get your company up and running.
Starting a business is expensive. Even if you intend to finance most of the cost yourself, there are still a few key considerations and steps you’ll need to take. The first step is to set up a business account at the bank. This, along with setting up the right kind of company, separates your personal and business finances. If your company goes under, you won’t need to pay out of your own pocket, for example. As for getting funding, look to banks, for grants, at loan providers, and even investors.
Rent Your Location and Get the Equipment
You’ll want a location that’s convenient for your customers to physically get to (so near main roads and with parking). You’ll also need space to house all the necessary printers and materials. This can be a hard find, but since printing businesses aren’t as common as (for instance) a café, you’ll have a larger area tolerance for customers. People won’t drive far for a business they have around the corner, but they will if you’re the closest one in the area.
Next, get the bare bones essentials in terms of printers and materials and have a wish list for when you grow. You may want to add UV printing later on, or even more artistic options like water transfers.
Set up Your Website and Marketing
Every business needs a website. With a design-based company like a printing business, it’s even more important. Try to offer online self-service tools so that customers can get their items printed faster. Once you have that, you can start marketing. Identify your key customer bases and work out how you can advertise your services. A good idea to showcase not only your service, but also announce your brand is by using mail flyers or project proposals and sending them directly to nearby businesses.
Bonus: Tips for Growth
Growing is important for any company, even new ones. To grow organically, it’s a good idea to edit back all your ideas and structure them so that you launch with essential services and have ways to grow. Before investing further, always analyze the market to see which of your ideas is going to be the most useful, so you can get the largest ROI.