Starting a Printing business

[Charbel]

I am thinking to start up a printing business targeting Students and offices in an area closed by a large University and a commercial district. however, few other printing shops are in the area as well.
I will be investing a significant amount of money 40K in printing equipments.
How to do a market analyses?
Is printing still a good business?
any feedback is appreciated

thanks,

[Alexishost]

one page business plan.
HI i higly suggest to write onepage business plan for it.
How to write a business plan, sample business plans, templates, and more.
Start small steps and another steps. that;s the key to success

[Terry Justice]

A business plan is a great place to start.

I would also pull some demographic data. IE: How many students attend your target college? How many businesses are in the metro area? What is the population in the metro area?

Print is still a viable business but the market is VERY competitive. With the addition of Fedex Kinkos, Staples and others offering their quick print packages pricing has dropped significantly over the past 5 years. I served as the Ex Dir of Procurement for a large Academic Medical Center for 27 years. There are still opportunities out there....but I would definitely evaluate the market thoroughly (using a formal business plan) before moving forward.

Good luck!

I don't know where you are located, but several of the large colleges in our area along with other small business advocates havejust launched a new site. They may be able to provide you with additional insight? realbusinesschat.com/forum

[Delelarose]

Printing is the one service that almost every business that exists will need to purchase in some shape or form. They could need business cards, stationery, service forms, flyers, post cards and warranty cards. Every business is a potential prospect and can become a loyal client that orders printing every year or sooner. Also private people may need printing done. The terrific fact about a printing business is there is no end to potential customers that can be acquired by an aggressive marketing campaign.

Since all of these paying customers exist, waiting for a printing expert to call on them and compete for their business, this can be a cash cow business. Getting started in the business can be accomplished in many ways. You can buy an existing business with their client list and an immediate cash flow. You can start a small in the home printing service. Another way to get started is to make a deal with several printing companies that you will sell their products on a broker's agreement. A printing broker can go where the quality and price are and compete with just about any one in the business. They can buy locally or over the Internet at wholesale prices. The beauty of this facet of the printing business is there is little investment needed other than a phone, computer and the knowledge of where to get jobs done.

[StockDC2]

You may want to see what kind of services that your campus already offers for students. I know that at my school, there is a print center that all students have access to as long as you submit an application saying that you're either a member of a club or working on a big project for school.

I started a small business with my classmates and we had access to this center. We were able to print tons of fliers, laminate ads, create billboards, etc all for the price of $0. Make sure that your school doesn't have something like this or else you'll find it very hard to charge for a service that is already free.

[YPAInc]

Business plan & make sure to do research before you invest into a business that services students when they can get those services done for less cost directly at their school.

^AM

[awayoflife]

Printing is something that is not differentiated by brands. Because there are several competitors in your area they are likely to be able to compete at a lower price than you could for several reasons - having an established client base and the cost benefits of being larger.

This is not something you should invest 40k in.

[barbaragabogrecan]

Good decision I really like your business idea and it’ll really success. Your printing business needs to bridge the gap between the past and the future with a diverse menu of services including electronic formatting, laminating and binding. Businesses have all kinds of printing needs. Printing services are needed by all types of businesses. Businesses print ads, flyers, and other promotional paper. Printing is needed in every business. Choosing an area of the printing business to focus on will get your foot in the door. Once you have established a loyal client base, expand to meet their needs. Good luck.

[PapaSpot]

The REAL question is WHY do you want to open a printing business? Is it because you love printing? Because you love the smell of ink? You need to figure out the REAL reasons behind your idea. So many entrepreneurs spend their life savings to start a business, only to see it fail. Only in hindsight do they realize that what they really wanted was a result. They wanted that business to help them achieve a goal, like provide for their children's education, provide a better home, etc...So before you take another step, I would ask myself "What is it I Really want. Is it to open a printing shop in this location, so that all of these nice folks will have an affordable service which they sorely need, or is it because I want a business that will provide for my family for many years to come?" If you do this and you still want to open a printing business, then your next step is...

Do Your Research. Most people put the cart before the horse and start the business before they have done any adequate research on what your customers actually want, how much they will pay, how often they will use it, who are my competitors, where are my competitors, how much do they charge, etc... You should like awake at night thinking about all the questions you should be asking yourself, and then ask those questions, wait for the answers, and write them down. Once you know, then you'll be able to work on them. You don't want your competitor's finding your weaknesses before you do.

So, in a nutshell, think, plan, prepare, then think again. Or to make it more memorable..."Ready, Aim, Fire" as opposed to the other way around.