Suggestions Wanting to start a new printing/sing company

[BlackQuillSigns]

Hello there, i have been working doing pretty much everything at a sign company for 5+ years. I am wanting to venture on my own, i love doing this kind of work. I currently use a Roland Vp-540 and a graphtec plotter. I do all the designs, proposals, printing, meeting with customers, banners, yard signs ect from start to finish. I am wanting to start a small scale printing shop to begin with, printing banners, yard signs, magnets other small signs. Doing some copy changes or new faces nothing too big.

Where would you recommend starting at? (steps)
What wide format printer you recommend? (have heard latex printers are safer and better than solvent)
What must have tools should i ultimately get?

If there is some good articles you guys recommend i would most be appreciated. I am planning on getting everything ready and open my shop by the spring/summer of 2018. I just want to avoid any first time shop owner mistakes. Am really exited to begin this part of my life!

Thanks in advance for any and all advice and criticism.

 

[JJGraphics]

Oh man! I know you think you're doing everything from start to finish, but you're only doing about half the work right now. Sales, advertising, invoicing, bookkeeping, accounting... that's the other side of the business that you aren't getting into yet. It's the harder half too. Doesn't matter if you have a Roland printer if you have no work for it. Doesn't matter if you have work if you have nowhere to do the work. Some people think "work just rolls into this shop" but it doesn't. It took someone else advertising and knocking on doors and putting up ads and a website and blah blah blah for all that work to just start rolling in. Buying equipment and renting space is not the same as running a business.

2 of your 3 questions are based on production, yet you say you've been doing that for 5+ years, so why ask us? If you like the tools you have, just emulate that.

If you want to know what it's like to start out, ask your current boss if you can go on salary and cut your pay to 50% of what you make now and ask if you can also handle all the sales and business end of your job while still doing the production. That should give you a pretty good feel of what it's like to start out.

How much cash flow do you have to start this venture?

 

[HDvinyl]

Don't want to ask your current employer these questions?

 

[Johnny Best]

Here's some advice, take advice from some of the Yahoos on here with a grain of salt.
If you produce a great product, everything will fall into place.

 

[Gino]

After 5 years, you should know just about everything there is about going into business for yourself. If you already do all those things, you'll just learn the rest of the smaller business things as you go. I'd say, get a small retail store, buy a cheap 30" printer/cutter and a small Chinese laminator and start knocking this sh!t out and begin making some serious money of your own.

 

[Pauly]

After 5 years, you should know just about everything there is about going into business for yourself. If you already do all those things, you'll just learn the rest of the smaller business things as you go. I'd say, get a small retail store, buy a cheap 30" printer/cutter and a small Chinese laminator and start knocking this sh!t out and begin making some serious money of your own.

Damn gino you gave someone newbie advice. good for you!

But i second ginos quote. You should know what you need as you've been around it for a few years. but you'll need to do quotes, paperwork ect too.

 

[Gino]

Damn gino you gave someone newbie advice. good for you!

But i second ginos quote. You should know what you need as you've been around it for a few years. but you'll need to do quotes, paperwork ect too.

Thank you for your kind support. I didn't know you were monitoring me. Your generous praise is well taken.

 

[bannertime]

Treat people right, use the right products for the job, do things the way and at the time you say you'll do them and people will keep coming back.

You should already know exactly what you need by now. The tools that you use every day. I'd also recommend taking a class at your local community college regarding starting a business. You can make the best signs in the world, but the IRS will shut you down if you aren't paying your taxes right.

 

[2B]

there are plenty of quality Merchant Members here who can help you.
if you are going to start your own company, focus on the business side (sales, customer service, marketing, bookkeeping, etc.) and the designs. then once the design is approved send it to a MM and let them produce the product while you are working on the next project

 

[StarSign]

How much do you need to cover your personal nut for a year (rent, food, car, clothes, movies, beer, vacation, health insurance, cable.......)? Take that amount and double it, put that amount away so if the biz starts out slow you can pay your bills.

 

[Gino]

How much do you need to cover your personal nut for a year (rent, food, car, clothes, movies, beer, vacation, health insurance, cable.......)? Take that amount and double it, put that amount away so if the biz starts out slow you can pay your bills.

Wowee............ that would mean the average person married with no kids would be around $34,000 laying around and then you want to double that ?? You think someone needs to have $70,000 tucked away for a rainy day will cut it ?? Don't ya hafta go out and buy the equipment and more overhead and headaches to operate this new slow business ?? He'll never get started. He needs a rich uncle..... and here's hoping he doesn't have a sweetie on the side. They cost a pretty penny, too.

 

[billsines]

Be in as little debt as possible. You will probably have to borrow money to start, but the higher your debt, the higher your monthly responsibility is. If you work 70 hrs a week just to make your payments to the bank, how is being a business owner freeing? The borrower is always servant to the lender, so as soon as you can be running your operation debt free, the better. I always recommend to potential business owners to be light on your feet with respect to debt. If your business gets slow, how long can you last? Start out small and get bigger. Huge mistake to get a lot of building and equipment and be desperate for work. You should be busting at the seams with work before going bigger in building and equipment. I remember before our first move we were doing work out in the driveway.

 

[The Big Squeegee]

welcome to Signs101 from OK.

Good luck!

 

[LarryB]

I would save up and buy the same type of equipment you are using now. Why bother with trying to learn a new system as you will have other things to worry about. Definitely go with a 54" Roland printer, Graphtec plotter and either a Seal or Royal Sovereign laminator. Skip the headaches of saving money by buying imported machinery. Set up a 6-12 month timeline and start saving as much as you can each month. In this time work on your pricing, website and marketing materials.

Private message me if you have any questions. I'd be happy to help.

 

[DCarr]

Hello there, i have been working doing pretty much everything at a sign company for 5+ years. I am wanting to venture on my own, i love doing this kind of work. I currently use a Roland Vp-540 and a graphtec plotter. I do all the designs, proposals, printing, meeting with customers, banners, yard signs ect from start to finish. I am wanting to start a small scale printing shop to begin with, printing banners, yard signs, magnets other small signs. Doing some copy changes or new faces nothing too big.

Where would you recommend starting at? (steps)
What wide format printer you recommend? (have heard latex printers are safer and better than solvent)
What must have tools should i ultimately get?

If there is some good articles you guys recommend i would most be appreciated. I am planning on getting everything ready and open my shop by the spring/summer of 2018. I just want to avoid any first time shop owner mistakes. Am really exited to begin this part of my life!

Thanks in advance for any and all advice and criticism.

My sign business is for sale! Located in beautiful western NC. After 30+ years I am retiring. $60,000 for everything you need for a successful small sign shop. Check out some photos of our work at facebook: Sign Crafters Hendersonville and website www.signcrafters.weebly.com or message me with questions.

 

[Johnny Best]

Move out of Kansas, it's too flat, North Carolina is a beautiful place to live.

 

[printhog]

I agree with the other grumps.. making signs and running a business are two very different critters.

1. Figure out the total cost to equip and open, including lease, deposits, tenant improvements, opening inventory, marketing tools, printing, etc
   1. Total ALL those costs as if you've got to fully pay them off in 2 years, even ones you are financing as long term liabilities.*
   2. Predict your equipment depreciation to be a fast track 2 year model. This is an expense you need for replacement and service later.
2. Figure out your real hourly rate. I suggest this Signcraft calculator (https://www.signcraft.com/libraries/docs/SPG_Hourly_rate_for_Web.pdf). Be realistic, get quotes for the things you dont know like attorney, etc. Put depreciation and debt expenses into that calculation.
3. Figure out if you actually do that much work in your market.
   1. How many sales calls a day? Average sale price? Average Net per sale?
   2. Can you do that much work by yourself?
   3. is your shop big enough to fit that work?
   4. Can you fund your inventory every 6 months without getting paid?
4. How will your current boss respond to your new shop? Think about how they'll act and make concrete plans for each possibility.
   1. Will they be happy and help you get started by subcontracting work to you? (one of mine did and it made my first year easy)
   2. Will they see you as a threat and go after you? If so:
      1. That could result in a price war, so plan for that.
      2. They could easily force you to increase your ad budget outside the affordable range.
   3. They'll likely hire a replacement for you, if so:
      1. What if they get a really good person that can out design you?
      2. Maybe they decide to expand and add more staff, particularly a sales rep, essentially out staffing your new shop.
   4. OPTION - Maybe start by talking to your boss and discussing your interest in having some skin in the game.
      1. See if they'd sell the shop to you someday?
      2. Ask for a raise and more responsibility.
      3. Get the backend experience in accounting, etc on their dime.
      4. Set a time table and milestones to hit.
      5. and a profit share.
5. Get a financial advisor and ask what you can do with similar investments equal to what you're putting into the new business. This is the serious part...Can you earn more in signs vs other high risk investments or some other business? If your new shop cant beat the other investments dont do it, put your money into the best investment. If that seems like boring bean counting, I'd suggest you stay where you're at. That kind of analysis is needed to run a small business in today's economy.
6. Last- keep the total investment number we made from 1&2 above on a note on the wall so you can remind yourself daily just what kind of investment youve got in your shop. That'll prevent underbidding when times seem tough.

* SBA statistics - 80% of businesses fail in the first 5 years, burdening the owner with 100% of the business debt. Most start to fail during year one, 40% or so are gone by year 3. Compressing your debt and building a reserve for depreciation covers you.