Question Need to scale my business

[rossmosh]

You haven't posted what you're doing and what's keeping revenue down. Assuming you're doing vinyl sticker/decals is the problem you don't have enough time to promote your business and do the production work at the same time?

If so, the big question is, if you stopped doing production work and started doing the "business side" would it actually result in more revenue being generated? You could do the exact opposite and pay a pro to help you generate business while you sit back and design and do production.

 

[Reveal1]

We been opened for about 4 years now. Its a family business, Wife and I bought the machines. I learned how to us them and pretty much to my design background and built it. My son helps me design and my wife and daughter helps me print and laminate. I pretty much do all of the die cutting.

I run this out of our library at home. So I can not take anyone in and get help. My idea is I need to get some one to print, laminate and die cut for me. I am thinking of getting a small office and training some one.

What have you guys done to teach and employ someone so you can focus on the business aspect more?

Congratulations on a great start; you should be proud that you built the basis of a good business and recognize the need to scale. Sounds like a great family you have. Now back to the original question. You can hire lower skilled or less experienced people with good attitudes and train them; this business isn't rocket science and they are out there (although admittedly payroll getting more expensive with the roaring economy). Sounds like you need a small production facility rather than office which would probably be lower $/sq.ft in an industrial park if you are business-to-business and if not maybe in a similar space within a few blocks of a retail center.

 

[Texas_Signmaker]

I do almost 300k from a shop I built behind my house. I outsource ALL my printing and as much as I can because i can generate more money doing finial assembly vs printing myself.

Also, can you describe the "business side" of things? I work 50-60 hours a week and 95% of that time is spent on getting orders done. I spend maybe an hour or two each week (during the weekend) and reconcile my bank account, record expenses, figure sales tax, income tax. I don't see someone doing 100k needing to spend full-time "business" work.

Last year I had an employee that helped out with installs and production and it brought me down from 60 hours a week down to 35-40. I had to let him go because of issues he has having in his life but I decided not to hire again for now. instead starting outsourcing more and being more finicky about the jobs I take on, forgoing difficult customers and low margin orders for easier, higher profit jobs.

I think 300k is physically the limit that one person can do (without more brokering), and right now I am happy with the amount I'm making. You still have room to grow before you would need to "get a shop and hire someone" if you choose to outsource. Maybe if your overwhelmed already, you can be more choosy on jobs your take, or hire someone as-needed to do installs or grunt work.

 

[equippaint]

You all keep jumping to conclusions in haste to criticize the guy. He said 6 figures. What if he clarified it by saying it that 6 figure number was $999,999 net from his house?

 

[equippaint]

I do almost 300k from a shop I built behind my house. I outsource ALL my printing and as much as I can because i can generate more money doing finial assembly vs printing myself.

Also, can you describe the "business side" of things? I work 50-60 hours a week and 95% of that time is spent on getting orders done. I spend maybe an hour or two each week (during the weekend) and reconcile my bank account, record expenses, figure sales tax, income tax. I don't see someone doing 100k needing to spend full-time "business" work.

Last year I had an employee that helped out with installs and production and it brought me down from 60 hours a week down to 35-40. I had to let him go because of issues he has having in his life but I decided not to hire again for now. instead starting outsourcing more and being more finicky about the jobs I take on, forgoing difficult customers and low margin orders for easier, higher profit jobs.

I think 300k is physically the limit that one person can do (without more brokering), and right now I am happy with the amount I'm making. You still have room to grow before you would need to "get a shop and hire someone" if you choose to outsource. Maybe if your overwhelmed already, you can be more choosy on jobs your take, or hire someone as-needed to do installs or grunt work.

Its not apples to apples, you primarily do installs. Your 300k is not the same as someone producing RTA decals. There is no way in gods green earth that 1 person could do 300k in ship out decals by themselves unless you have some honey hole customer paying 10x more than market.

 

[Solventinkjet]

What's with the shaming of someone working from home? In my experience 90% of shops started in their garage. As a tech I find myself in basements and living rooms just as much, if not more, than I do in 20,000 square foot production facilities.

 

[Texas_Signmaker]

The work-from-homers should be admired... we're not polluting the Earth with our mindless commuting... and conserving resources by not running two locations.

 

[artofacks1]

I think outsourcing is a good idea. Can anyone recommend someone that has an edge printer?

I wouldn't mind outsourcing