Since the print industry is in high demand because of an increase in the number of individuals who use it, here is an Easy Guide for Starting Your Own Printing Business if you consider starting one in the Philippines. But first, let us have a quick idea on the development of the Printing Sector.
The Printing Sector
The printing sector has gone a long way from manual labor to automated press and is still quickly expanding in the Philippines and worldwide. In line with this, research conducted in the United States claims that in 2022, an estimate of around $821 will be the printing industry’s contribution to the world market.
The digital revolution has lowered the amount of paper required for printing, but it has not rendered printing obsolete. Businesses still prefer to keep tangible documents on hand for security reasons. Also, there are still processes at government agencies and educational institutions that require printed copies.
Furthermore, in some cases, people employ printing to personalize their items. Therefore, given the quantity of work done every day by everyone from business owners to students at various institutions, we may consider a printing business one of the country’s top income-generating jobs.
So with such a booming industry, new business options that might be both profitable and low-risk is highly recommended.
Starting up a Printing Business
Suppose you are into operating a commercial printing business. In that case, you must be trained and have experience in both traditional and digital printing methods. And below is an easy guide for starting your own printing business.
Step 1: Research on the market of your intended audience
One of the essential methods is to know who are you intend your business to, that is why careful research is often optimized.
1.1 Estimate Demand
It is critical to determine whether or not there will be a demand for the printing services you intend to provide. So if your focus is on a local market, a pool of potential clients to whom you may offer your services is required.
When businesses are in towns or cities, many companies are likely nearby that regularly require print services. The same goes for local governments, colleges, and other organizations within the vicinity that may be willing to send you employment.
Graphic design companies also are frequently eager to establish a long-term partnership with a dependable printer. In that case, you may prepare samples of your work, a price list, and approach as many firms as possible to inform them about your new venture and the services offered.
Keep in mind that many people will already be dealing with a printing company, so you are required to show them that you can deliver a better service. For example, you might show them that you have invested in digital printing technology to quickly fulfill orders and offer small runs at a reasonable cost.
Start-ups
You might also consider contacting a business that assists start-ups. Accounting firms, for instance, may send your information to new enterprises who need letterheads and other company stationery.
Public members also request printing on occasions like wedding invitations, personal stationery, raffle tickets, function tickets, etc. Suppose your business is willing to attract this type of customer. In that case, you will need to place your business in an area with many foot traffic.
Consider providing additional services to customers, such as website design and construction or database services. Remember that competing on price is better for your business’s profitability if you can persuade people to choose your organization because of its exceptional service, dependability, and quality you provide. You might want to emphasize that your papers come from environmentally friendly sources.
When you’re displaying your samples to potential consumers, you could use the time to talk about:
- the volume that applies to orders (minimum/ maximum)
- what are their requirements (so you could work with others if your business is not yet offering the demands)
- frequency of their needed printing service
- the time frame for the orders
- delivery service (if required)
You could also talk to them about:
- their opinion on your proposal
- if they agree with your term and pricing
- if they have suggestions for the betterment of the service proposed
Your market research will aid in identifying if:
- your printing services would be marketable
- the price would be budget-friendly
- a typical order would fit the value
1.2 Investigate current trends as well as legal and tax difficulties.
This includes:
- Business trends in the printing industry
- Printing companies face legal concerns
- VAT regulations for printing companies
Step 2: Develop a consumer profile.
2.1 Your target market
Your customer base will be determined by the market segment you are targeting and the services you want to offer. Among your clients could be:
- companies and organizations in the area
- other printers for which you perform outsourced services such as finishing
- designers of graphics
- the general public
A possibility that customers over the country will come if you offer web-to-print services.
2.2 Method of payment
Many of your clients will pay you by check, credit card, or debit card. Still, if you supply a significant customer regularly, you may also get money directly to your bank account. You might get paid in cash for services rendered to members of the public, for example. If you handle money daily, you must have solid security procedures in place.
If you provide web-to-print services, you’ll need either an internet merchant account or a provider to process the payments (usually a third-party merchant).
2.3 Discounts and special offers
Because the printing market is so competitive, it’s crucial to keep in mind that your larger customers, in particular, may request significant discounts in exchange for bulk purchases and regular orders. They may expect you to provide complimentary finishing services. When you have long-term contracts, it’s critical to keep track of your costs at frequent intervals to ensure that you don’t reduce your profit margin by increases in labor, energy costs, and raw material prices.
During a downturn in the economy, significant customers are more likely to demand extended loan terms, such as 60 days instead of 30.
2.4 Customer service is essential.
According to recent research, printing companies must give exceptional customer care to their customers. Print purchasers want their printers to care about their business and assist them in making sure everything runs properly. On the BPIF Vision in Print website, you may download various Best Practice studies to help you identify how your company can improve its service.
Step 3: Which printing services are available?
The printing industry is divided into several sub-sectors. Companies typically specialize in book or journal printing, carton printing, packaging work, and so on, or provide a range of general printing services to enterprises and local organizations.
Letterheads, invoices, compliment slips, business cards, brochures and pamphlets, envelopes, posters and tickets, NCR duplicate or triplicate pads, membership cards, and so on are just a few examples. Don’t forget about the expanding number of enterprises that sell things online, such as eBay and Amazon Pro merchants.
A variety of pre-printed postal boxes in various sizes may be of interest to this type of business. As a first step, determine the type of work you will accept to purchase or lease the proper equipment.
3.1 Outwork
Because they lack the appropriate skills, resources, or machinery, many small printers outsource some work or portions of jobs to other, specialized enterprises.
Graphic design, sophisticated four-color tasks, wedding stationery, and a variety of finishing services such as stitching, binding, folding, and so on are all examples of work that you can subcontract out.
It’s critical to build a good working relationship with any company to which you outsource work so that you can trust them to finish assignments on time and to a high standard. You’ll also want their fees to be affordable so that you can earn from each work.
3.2 Norms of excellence
Whatever printing services you want to provide, keep in mind that the business is highly competitive. Your consumers are likely to expect excellent quality, low rates, and quick turnaround times. Customers are unlikely to return if the jobs you produce are late, including errors, are poorly printed, or are packaged improperly.
3.3 First-rate service
Because the printing market is so competitive, it makes sense to do everything you can to make your company vital to your clients by delivering first-class service and high-quality printing.
You may, for example, offer to keep significant print works for customers and suppliers as much as they require at regular intervals. Every few months, you could contact customers to ensure that their essential business stationery supplies are not running low.
In addition to maintaining valuable contact with your customers, this tactic may also help you avoid the last-minute panic that occurs when businesses realize they are about to run out of stock. Consider how you and your customers can use the internet to make things easier and more efficient for you both.
It’s essential to be as possibly be proactive with your customers, determining how and when they want items delivered from the start. Following your agreement with them, you must make it a priority to meet their expectations.
3.4 Advertise your services.
Whatever services you choose to provide, your potential clients must be aware of you. There are several things you may do to market your company:
- Mail samples to area companies and organizations.
- Distribute leaflets to organizations or corporations that advise new company start-ups (for example, accounting firms). Most new firms will require printing services. Therefore, it’s a good idea to provide an introduction pack of basic company stationery.
- Local newspapers, trade journals, yearbooks, and directories are all excellent places to start.
- Make contact with any local organizations to advertise your debut, potentially with a special offer.
- local events to support
- Make your website, and don’t forget to mention that you’re using recycled or responsibly produced materials.
- Use social media platforms to showcase recent initiatives and inform clients about special offers.
- To reach potential customers, employ telemarketing.
- Send practical gifts like calendars to consumers (and future customers) during the holiday season. Don’t forget to provide your contact information!
Step 4: Purchase an established company.
Rather than starting from scratch, you can decide to purchase an existing printing company. When you buy a going firm, you can expect to find products, customers, regular sales, staff, facilities, and equipment already in place.
Consider the condition of the buildings, presses, and equipment, among other things. Pay close attention to the printing presses and finishing equipment, as traditional finishing equipment may not perform well with digitally printed objects due to the shift to digital printing technology.
However, unless you have the necessary abilities and expertise on your team, including legal and financial knowledge, purchasing a firm may be a risky and costly process. Establish the company’s accurate trading and economic state so that the amount you pay for it is not excessive.
Other Considerations in Launching a Printing Business
The following is a list of successful company ideas and considerations before launching a new print business to earn excellent revenue.
Understand who your target market is. Check Who are your clients?
Let’s face the fact that there are a lot of printing shops all across the country these days. Many commercial printers used in print shops can print any document that the customer desires. That is why you must distinguish yourself from your competitors.
You can also determine what your customer wants the most and work on that instead of specializing. Is printing cheap? A tempting offer for anyone traveling by!
Know the amount you’ll need to invest.
In the Philippines, printing machines range from P10,000 to P200,000, depending on how much printing you plan to produce every day. Don’t worry; you can start with a smaller printing machine. When you can buy a more powerful device, you can upgrade.
There are four different types of printers: laser, inkjet, offset, and screen. You can print labels and signage with inkjet printers. For business cards, laser printers are preferable. The offset printer is capable of processing high volumes of documents (businesses) without sacrificing print quality. T-shirts, for example, are printed with ink using screen printers.
A computer is also required to execute the printing software. You don’t need the best performance on the market; a simple one will suffice as long as it is business-oriented.
Purchase design printing software.
Some customers want personalized things. Therefore, you could want to hire someone to develop t-shirt and business card prints. Advanced software allows you to render and design graphics on your own. Before you buy any design software, make sure your computer is capable of executing it.
On that topic, if you go this route, you’ll need to keep a steady supply of cards on hand to allow customers to choose the texture and quality they want.
Obtain an inventory stock.
To keep your printing company afloat, you’ll need inventory.
All of the above-listed printers require a specific sort of surface to print on. T-shirts, vinyl signage, and business cards must be readily available whenever clients inquire. Always restock your stock and provide enough variety for customers to choose from.
Cutting tools
Scissors will not suffice if you need to print a large number of business cards. A cutting system, preferably a hydraulic cutter, will be required. A simple cutter and cutting mat would suffice. Vinyl signs, on the other hand, should only be cut with cutters designed for sticky vinyl.
Create an account for your company.
In the Philippines, you’ll need paper for your printing firm.
On that note, a relevant and contemporary business name will help your company stand out. After that, you should consider what type of business you want to start.
Businesses and enterprises are enrolled with the Securities and Exchange Commission. In contrast, sole proprietorships are registered with the Department of Trade and Industry (DTI) (SEC).
The mayor’s permit, BIR certificate, and barangay clearance are the other permits you’ll need, and you can obtain them at the nearest barangay office and BIR office to where your business is located.
Ways on how to get a decent deal
All of the supplies you’ll need as a printing company – paper, business cards, and fabrics – will be negotiated with a vendor, one that can deliver consistent quality in a variety of volumes. More importantly, don’t consider your provider to be a cost. This is an element of your investment and will affect your customer’s perception of you.
A good provider upholds its ideals and maintains a robust supply chain. Furthermore, suppose new technology renders your printing business obsolete. In that case, it’s their responsibility to tell you more efficient and cost-effective ways to do business while saving money and maintaining efficiency in your daily operations.
Other than that, we must also consider the following:
- Find your purpose in the printing industry.
- What will the business’s revenue model be?
- Will you sell your products in person or online?
- Investigate the competition and the market.
Printing Business Ideas That Make Money
Below are advisable ideas to start your Printing Business:
- Mug Printing
- T-shirt Printing
- Printing on Mobile Phone Cases
- Visitor/business cards Printing
- Printing of Invitations and Greeting Cards
T-shirt Printing Company
T-shirt printing is at the crossroads of high-demand products and low-investment options. According to Statista, the t-shirt industry is anticipated to expand 9.6% a year between 2020 and 2025.
You can purchase T-shirts in quantity to save money. Furthermore, you do not need to make a significant initial investment.
Custom t-shirts can be sold cheaply, depending on the printing method. The t-shirt will cost you half of the amount listed above, including the print. Imagine the earning potential, and if you’re ready to get started, join this webinar, where our experts will reveal a detailed blueprint for creating your t-shirt empire from the ground up.
Printing on Mugs
Mug printing is in high demand, just like t-shirt printing. Mugs are great personalized gifts and are ideal for promoting brands, sports teams, and company logos, among other things.
Mugs start less than a hundred and go up in price depending on a variety of factors. The shopper is charged according to the number of phrases and artwork, size of the mug, and other factors.
This is a low-cost business to establish. To begin, you’ll need mugs and printing equipment.
Printing on Mobile Phone Cases
According to a survey published by Globe Newswire, the mobile phone cases market would increase at an annual rate of 8.4% to $5.11 billion by 2024. One of the most popular print business concepts. Portable cases are yet another way to display a person’s unique personality.
In addition, as the number of mobile users grows, so does the number of mobile covers. Furthermore, you can start this business for a meager initial investment. All you need is a basic understanding of printing and some equipment.
Printing of business/visiting cards
As a simple manner of initiating contact with someone, every individual or corporation must produce a business card. A business card is an excellent tool for introducing your brand to a customer or vendor.
Business cards are always in order. However, with a small printing machine and some experience producing business cards, anyone can start a lucrative business.
Printing of Invitations and Greeting Cards
Invitation cards are a requirement for all types of events, from personal to corporate. Similarly, we all know that sending greeting cards is one of the most effective ways to convey our best wishes to friends and family.
Invitation cards and greeting cards are critical for special occasions and events to invite people. In contrast, you can use greeting cards to greet them.
Both are good company concepts since the initial investment is low and the earnings are high.
