Hello Board....New to the Sign business

Hello all. Thankyou Fred for leading me to this board. Alittle about myself; I recently retired from the Coast Guard in '99 as a Chief Engineer and opened a Locksmith Business after taking a mail order course. My business has been blessed with much success and has since allowed me to build a small strip mall containing 6 Retail spaces. The ajoining unit to my Locksmith Store (1200sq ft) will be vacant 1 Nov and I am considering opening a sign business. We have been doing research over the web, ordered several books and tapes (thanks to some advice on another board and Fred) and contacted Summa inquiring about their D60 plotter ($1795.00 with 1/2 off software FlexiSign). Fred has given me a list of startup inventory and Wholesale suppliers.

I am looking forward to networking with the members of this board if we decide to jump-in this business. We should be making a decision soon.

Could get $850 per month for the adjoining unit or run a potentially prosperous sign business. Any suggestion?

Any comments about the Summa D60 (starup plotter) or software would be appreciated along with a list of inventory that I may need during my initial opening?

Hope to hear from you all soon

God Bless

Bill

 

Thanks all for your replies...already see the value of this board. Got a couple books in so far, waiting for some tapes. Derf thanks for the plotter experience, think the D60 would be a good initial cutter. Will have to add more equipment as the market dictates.

Bill

 

That's the question I have been asking myself. Although the $850 is a sure thing, I am looking for a way out of my Locksmith business in a small town (everyone is related to everyone)without disappointing my client base . Although my Locksmith business has been a true blessing from God, It has also required my services for 24/7 the past 5 years. I have responded to thousands of calls late into the evening and early AM weekends included. It's taking it's toll. No vacations. Don't get me wrong, the business has taken me and my family from living in an apartment for 6 months on $1200 military retirement pay to grossing $18K per month in 5 years, plus allowed me to re-invest in the construction of 6200 sq feet commercial retail spaces, but It is virtually impossible to find, reliable, honest Locksmiths that won't drag my name to to ground or steal After hours calls, so that leave's me providing 24hr service for continuous growth, I can no longer handle. My thoughts are, open the sign business, as my wife's business (so my Locksmith accounts won't know my future intentions, thus jepardizing my Locksmith income) and work Locksmithing and Graphics, until the sign business takes off. If it looks like the sign business will outperform the Locksmithing, I'll turn Locksmithing over to my brother, which just started working for me (12 yr exerience) or Sell it. Your right.....seems much easier to take the $850!! Could just sell the Locksmith business and start all over with the sign business, but we have become acustom to the lifestyle...The Locksmith business was just meant to be a transitional trade, since I was unemployed after retiring from the CG. I believe I would enjoy Sign making and having my nights and weekends back with my family. I have been gifted with artistic abilities, that could go well with graphics. But, your right what a task to pull off. Thanks for your thoughts...vitually no one to talk to about this. Just spewing at the mouth. Thanks for listening

 

Thanks HSG & craig!

HSG thanks for a more in depth day-to-day expectation of the industry. Really appreciate your advice. No, I am opening another, mom and pop, not franchise. My initial goal is to treat the business as a "hobby" with a learning curve, eventually leading to profitability (similar to my locksmith venture). I would spend a couple months building out a nice modern atmosphere in the store and outfit it with the basic equipment required to do vinyl signs. Also using those months to practice with the software , vinyls, snd substrates. Upgrades and more demanding jobs would be incrementally accepted as our knowledege, skills and confidence improved. I believe my Locksmith business and Rentals net enough to basically lend (finance) and deduct my startup long enough to learn the trade. there would be virtually no overhead. No rent, just utilities. No need for employees or personal income. This could go on for months. We will know more once we finish watching the tapes and delve into the actual sign designing process as you mentioned. I designed my own logo and have recieved numerous requests from Locksmith clients to do the same for them. They were willing to pay me, but, I wasn't interested at the time. My vans are highly visible with reflective gold and blue colors. I had an aquaintance in the sign business take my drawing and clean it up on his computer, print them for me, and I installed them on all my service vans and store front windows. Humbly, I thought it was absolutely easy and enjoyable. Would have loved to gotten on his computer and played with the logo myself. I realize that the startup cost isn't low, but like all businesses, there is a calculated risk involved, that is unavoidable.Still in the "should we do it phase.

thanks again

 

True, but unfortunately, "the amercan dream" to most americans is "give it to me, free, I derserve it, I'm american" mentality leads to employee theft. My brother has experienced this the past 15 years in his business, firing every employee for theft, the last one stole over 30K. No thanks....not willing to deal with that. After hr emergency calls are cash only. Locksmith's have come up with many ways around claiming the services rendered. Not to mention personnally conducting their own business with company van, gas, equipment and inventory. I could shut the phone off after 10Pm till 8 AM, but stand the chance of missing a call from a business manager. Most commercial clients depend on having emergency assistance available. I could monitor the employees very closely, but who needs that.