We live in a digital world. Does that mean the printing business is obsolete?
Not even close! While digital marketing is certainly on the rise, US businesses still spent $109 billion on printed advertisements in 2019.
Would you like to get your own slice of the printing business pie? Starting a printing company is a terrific investment — if you know where to start.
In this post, we’ll provide five expert tips on how to start a printing company. Keep reading to learn more!
1. Create Your Business Plan
Every entrepreneur needs a clear, specific business plan. Before you spend a dime, sit down and find the answers to these important questions:
- What will you name your printing company?
- What are your startup costs?
- What ongoing costs will you have?
- Who’s your target market?
- How will you advertise your business?
- How much will you charge for your services?
Printing companies can be lucrative, but they’re not cheap to set up. Expect to pay between $146,000 and $400,000 to get your printing business off the ground. It’s vital to make sure you can secure the funding you’ll need before you do anything else.
2. Register Your LLC or Corporation
Once you’ve secured funding and chosen a name for your printing company, it’s time to make it official. Follow the laws of your state to set up an LLC or corporation and ensure your business is legally compliant and protected.
If you haven’t already, this is also the time to apply for your EIN (employer identification number) and register to pay business taxes.
3. Set up Your Business
It’s a good idea to use banking and credit accounts that are dedicated to your business (and separate from your personal funds). This separation protects your personal funds and allows you to start building business credit.
You’ll also need to get business insurance to protect yourself in case the unexpected happens. At a minimum, you’ll need general liability insurance and worker’s compensation coverage. Other types might be required in your area too, so make sure you understand the local business laws (or speak with someone who does).
4. Get Permits & Licenses
Again, this will depend on your city, county, and state. But you can be sure there’s plenty of paperwork you’ll need to do before you can open for business.
You’ll definitely need a Certificate of Occupancy (CO), which confirms that your business has successfully met all required codes and regulations. If you’re leasing the space for your printing company, make sure the owner can supply their CO.
5. Define & Market Your Brand
How do you want to be perceived by your target audience? Do you want a colorful, whimsical website like Big T Printing, or do you prefer a sleek, minimalist design?
There are no right or wrong answers here. It’s all about building your presence through an attractive website and social media channels. Pick a style and voice and stick with it so your customers know what to expect from your printing company.
Ready to Start Your Own Printing Company?
Like any business endeavor, it takes careful planning and preparation to launch your own printing company.
As you move forward with your plans for starting a printing company, refer back to this page to make sure you’re on track. If all goes well, you’ll soon make a name for yourself in the printing business!
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