The commercial printing business industry is booming rapidly worldwide, with the global market share being expected to touch around $835 by 2023. Since everything has turned digital in the 21st century, there is a significant growth in the number of consumers who depend on printers to meet their daily official and commercial needs. Considering the possibilities opened up by the retail print industry, enterprising distributors and sellers of print machinery are keen on providing premium quality printers and related equipment to consumers at affordable prices. However, people who are planning to enter the commercial printing business industry need to be aware of specific procedures like selecting equipment, documentation, running of the print shop etc.
Here is a list of things that one needs to keep in mind before entering the print business industry.
Begin With a Thorough Research/ Know the Industry
Research your competitors and their areas of specialization thoroughly. Determine the target market and find for yourself how the business can be made better using advanced technology. After determining the target market, determine the needs of the consumers that need to be fulfilled. Visit the websites/social media handles of the competitors and find out what they are lacking. Sketch plans to begin the business by primarily addressing all those pressing needs that need fulfilment.
Make a List of All the Equipment That You Need.
Printers, laminators, graphic design software, binding equipment etc., are some of the unavoidable equipment that one fundamentally needs to have in a print shop. Apart from these, one needs to have at least one high-end computer in the shop which can run all the necessary software (for graphic work) without any fuss. Purchase the printers and other machinery from experienced campaigners who value customer relationships. Beginners can approach leading distributors like Walcar Graphics, who sell print machinery online at affordable prices so that they can save a reasonable amount after one bulk purchase.
Obtain Necessary Permits and Documents
You will need to secure the approval of several authorized departments before beginning to function. For instance, a license from the federal government, permit from the fire department and safety department etc., are some of them. Failure to obtain these permits can result in hefty fines. These steps are mandatory since the authorities need to safeguard the security of the common public. After registering the business, one can opt for a legal structure like Proprietary Limited Company. Also, the owner should familiarize himself/herself with reporting, payment of tax, record keeping etc., to avoid legal complications at a later stage.
Offer Reasonable Services
Offering affordable services can only be achieved using thorough planning. Firstly, one needs to select a location that comes within one’s budget. It should also be a spot that is accessible to customers. Secondly, offer services at affordable price points so that customers would naturally prefer your shop over your competitors. Display the list of the shop’s services and, if possible, explain what sets your shop apart.
Promoting the shop is very important, especially when one is new to the business. Word of mouth can do wonders in business. In the initial phase, one can think of sponsoring community programs and advertising in local magazines and newspapers to expand word-of-mouth promotions. Promoting online websites can also attract new customers.