Are you looking for a comprehensive guide on how to start your printing services business?
Today we’ll show you how people have grown their printing business from the ground up. Some people even started at home, and are now making six figures, with teams across multiple locations.
Key Insights
1. Offering printing services is lucrative because it is in high demand. Businesses, brands, event organizers, and individuals will have something to print every now and then.
2. Market research is key if you want to succeed.
3. The startup cost varies widely, depending on the type of printing services you want to offer, and the scale at which you want to start. Generally it ranges from $1000 to $40,000.
4. Networking, regular promotion, and discounts on bulk orders can help you get a steady inflow of printing deals.
Overview of the Printing Services Industry
Print is an important part of our daily lives and business operations. From books and magazines, to custom gifts, packaging, and event souvenirs, there are printed materials everywhere.
Although technology has shifted some things like newspapers and magazines to digital forms, there’s still much room for printing services, and many niches are thriving now more than ever.
What Can a Printing Service Business Do?
Print service providers do a wide range of things that cut across various industries and uses.
1. Book printing
This is one of the most popular services provided. Audio books and e-books have been growing over the years, but printed books still hold a strong place.
Book publishers partner with printing houses to produce textbooks, religious books, fiction, and non-fiction. Self-published authors also look for printing service providers to print their books for sale.
2. Print media and advertising
Media houses and news outlets usually outsource printing of their newspapers and magazines.
Advertisement materials like billboard designs, fliers, posters, and banners are also produced by print businesses.
3. Branding and packaging
Brands can customize their workspace and merchandise while also spreading their marketing message and creating brand awareness by printing their name, logo, and tagline on t-shirts, caps, mugs, and office equipment.
Physical products need to be packaged beautifully to appeal to consumers. The packaging materials usually need some form of printing to be done on them, which is handled by a print service provider.
5. Education materials and office documents
While most schools and offices have printers for simple printing needs, they sometimes outsource bulk printing. Also, students in such environments need printing service providers for their project work.
Invoices, stationery, forms, and letterheads are some of the things companies could decide to outsource to printing businesses.
6. Custom gifts and arts
This is a growing niche in the modern printing industry, thanks to digital printing methods. From customized gifts like mugs, caps, t-shirts, and sweaters, to arts like anime stickers, customized phone pouches, keyholders, and decals that can be placed on a variety of surfaces.
Types of Printing
Different printing methods have been developed over time to meet different needs. The 5 most popular types of printing are;
- Lithographic printing – Used for newspapers, magazines, and books.
- Flexographic printing – Used to print packaging materials for consumer products
- Screen printing – Used for making high-quality prints on shirts.
- Sublimation – Used to make custom prints on different materials like mugs.
- Digital printing – Modern form of printing adaptable to many materials and use cases.
Note that the different printing methods have their pros and cons, and can each be used for different materials, but are best suited for certain types of printing.
Printing Method | Pros | Cons | Best Use | Other Uses |
Lithography | Good for commercial printing | Labor intensive. | Newspapers | Books. Magazines |
Flexographic | Good for printing irregularly shaped materials | Set-up.
Labor intensive. |
Flexible packaging materials. | Labels |
Screen printing | High-quality prints.
Good for bulk orders. |
Time consuming set-up.
Not economical if prints are few. Complex designs and colors are hard to replicate and cost more. |
T-Shirts | Wallpapers. |
Sublimation | Quality prints.
Durable (doesn’t wash off easily) |
Expensive | Mugs. | T-shirts. |
Digital | Quick turnaround time.
Easy to use Complex designs are easy to replicate |
Can’t print on irregularly shaped surfaces. | Stickers | Print on demand. Shirts. Sweaters |
Pros and Cons of Starting a Printing Service Business
Pros
The benefits of starting your own business include:
- Profitability: The potential of making profits. If you do your market research well, and pick a good niche to focus on, your business can bring financial freedom in the long run.
- Independence: As a business owner, you can choose who you want to work with, set rules in your business, and not have to report to anybody. You’ll be responsible for dictating how you want the business to run, and what to focus on.
- Freedom: If you manage your business well till it’s able to stand on its own, you can hire people to run it for you. That means you’ll have a system that generates a steady flow of income in your absence, and you’ll have time to do other things that are meaningful to you.
Cons
The downsides of owning a printing business are:
- High Competition: The printing industry is saturated in most areas. That means unless you find a location with an unmet need, you’ll be faced with high levels of competition from people who have been in the business decades before you. This competition makes it harder to stand out, and can reduce profit margins.
- Startup and Maintenance Cost: You need to get printing equipment, and most times you’ll need at least 2 workers to assist you in serving your customers. Also, you have to regularly maintain your printing equipment, so it doesn’t break down before you even realize profits.
- Labor Intensive: Printing requires a lot of work, especially for bulk orders. You have to do a lot of moving, cutting, and arranging. You’ll also spend a lot of time, especially during the early years of your business.
Some Things to Consider Before Starting Your Printing Business
1. How Much Does it Cost to Start a Printing Business?
It’s a wide range, and depends on the type of printing you want to do, who you intend to serve, and the type of equipment you need to buy.
You’ll need a printer, which costs from $500 to $40,000. You can consider getting a second hand printer to reduce cost. You’ll also need a workspace. If you have a garage or basement that can serve as your work space in the early years, it will help you reduce your startup costs.
Generally, the cost of starting a printing business ranges from $1000 to $50,000.
2. What are the Equipment Needed for Printing Services?
Some of the most important equipment you can’t do without are
- Printers
- Computers
- A large work table
- Scissors and Cutters
How Do I Start a Lucrative Printing Service Business?
Now you have a deeper understanding of the printing industry and some of its challenges, and you’re ready to dive in. How do you start?
1. Market Research
You must do market research before starting any business, and the print business is no different. Good market research will lay the foundation for success, and will let you know whether what you’re about to venture into can give enough profits, or will be a waste of time and resources.
Questions you must answer during your market research.
- Is there enough demand for print service providers in my location? While there’s a global demand, it’s not the same in every city. Some places have a higher demand. Are there businesses that need branding of merchandise or packaging of products in your area? Are there schools willing to outsource their printing? Can you partner with publishers of books, newspapers and magazines? Don’t start your business until you’re sure there’s enough demand for it. If there’s no demand, consider choosing a different location.
- Which type of printing is needed most? In some areas, like a school environment, printing of academic documents, project works, and the like will be in higher demand. Some other locations may be in need of branding and packaging materials. Knowing what people need will guide your choice of printer, and will help you prioritize what service to offer.
- Who are my customers? Knowing the type of printing that is high in demand in your location will help you narrow down who you’re targeting. Will it be individuals looking to make custom gifts, or business owners who want branded packaging for their products? Will your customers be mainly students who need to print project work, assignments and other academic materials or will you target book publishers?
- Who are my competitors? Are there businesses currently serving the printing needs of your target customers in your location? You need to know both the leading businesses, and the ones who are lagging behind, their pricing, and what they do to stand out. Why are they succeeding or failing?
If there are no competitors, perhaps you just discovered a huge opportunity. If there are competitors, then you need to look for gaps in their service delivery so you can stand out in the market.
After you’ve gathered vital information from market research, you can make a good guess of the profits you expect to make from offering printing services. Also, you’ll know what type of printing to focus on, where to locate your business, and who to target in your marketing.
2. Write a Business Plan
After your research, the next thing is to write a business plan for your business. Your business plan will hold all the information you’ve gathered during your research, ensuring you don’t miss out on any vital info that can make your business succeed or fail.
Your business plan is where you document
- The location of your business
- The type of printing services you’ll offer
- The equipment you need to buy
- The revenue you expect to make each month based on the demand you’ve estimated
- Who your target customers are
- Who your competitors are
It will also serve as a plan on the steps you need to take to reach your desired profit margin in the next 2, 5, or 10 years.
Lastly, if you decide to get a loan or look for investors, they’ll ask for your business plan. A good plan will convince them that your business is worth investing in.
3. Raise Capital
If you already have the capital to buy equipment, hire a couple of employees (if needed), rent a space, and start operations, you can go ahead and register your business. But if you need money, you can look for investors to fund your business, or apply for a bank loan.
4. Register Your Business
Register your business with the appropriate authorities in your city, state, and country. This will legitimize your operations, and establish you as a trustworthy business owner.
5. Get a Workspace and Printing Equipment
You’ve done the hardest part of starting your printing business by looking at the market, coming up with a business plan, raising capital and registering your business. All that’s left is to follow your business plan, get a space for your operations, and buy the equipment needed to serve your customers.
Once you set it up, you’re ready to go.
6. Get Customers
Now you’ve set everything up, you need to let people know that there’s a new place in town that can meet their printing needs. This will be a continuous process throughout your life as a business owner.
Talk to your target customers in person. Create social media accounts to promote your business online. You can also offer discounts to first time customers to draw them in, and discounts on bulk orders.
Remember to offer good customer service continuously as that is one thing people care about.
Read Also
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Conclusion
Printing service is needed by many businesses that serve our daily needs. Because of this high demand, there is potential for profits. But market research must be done thoroughly if you want to succeed because the printing market is saturated in most areas. Finally, continuous promotion both offline and online can help you bring a steady inflow of printing deals.
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