Do you want to start a small digital printing business? Find here a detailed guide to the sample plan, advantages, cost, and profitability of the digital printing press business.
Basically, digital printing is a specific method of printing from a digital-based image directly to a variety of media. Actually, digital printing is a newer option than the most popular and older offset printing. Due to several advantages, digital printing is becoming highly popular.
You can start a small digital printing unit with a moderate startup capital investment. Definitely, you need a retail location, digital printing machine, consumables, and skilled manpower for quality work.
For the small customized printing requirements, people prefer digital printing to offset. In addition to that, it reduces the cost too.
Why Digital printing Business?
- First of all, you can start this business with a comparatively lower startup capital investment. So, you take a minimum financial risk of starting a printing business.
- With the upgraded digital printing machine, you can provide great work quality. It is as good as offset printing.
- As far as print time is concerned, it takes less time. Actually, digital label printing doesn’t require plates which means a shorter setup time so your labels are printed faster.
- With digital printing, you can enjoy design flexibility. As you don’t need to use plates and you print directly, you can change the shades and designs often and frequently.
- Finally, you can address the customers who need small quantity printing. And the number of this type of customer is far more than the customers who need bulk quantity printing.
8 Steps to Start a Digital Printing Business
Here are the basic steps to follow to start a successful digital printing business:
1. Learn the Skills of Digital Printing
The business demands specific skills and knowledge about the work process and industry both. If you have some experience, then it is the perfect opportunity for you. And if are a beginner, then you must gain some experience first. It is better to work with other organization that offers digital printing service.
Specifically, you need to understand the printing process, the pricing strategy, and the way of advertising. Every industry has some internal tricks. Until and unless you don’t go deep down, you won’t be able to understand the inside factors. Simply, you need to learn the nitty-gritty of the business.
2. Understand the Local Market
Like any other business, it is essential to gather as much information as possible. Do market research, and know more about digital market volume, degree of competition, scope, and threats.
This market information will help you not only create an effective business plan but also explore the gaps that are available.
3. Find Your Niche
For a startup company, deciding on the product is a make-or-break decision. And for deciding the products, you need to understand the exact demand in your locality. Generally, there are plenty of options you can explore. Some of the most popular items are business cards, photos, leaflets, brochures, banners, letterheads, t-shirts, signs, and books.
However, it is better to research the market. You need to get as much information about the present printers in your locality. And try to find out the gap. Try to figure out what services they are lacking.
Related: How to Start 3D Printing Business
4. Craft a Digital Printing Business Plan
Now you can craft the business plan. Crafting a business plan is the most important step you need to take prior to starting the business. Basically, a financial analysis and marketing strategy are the most important aspects of a business plan.
You must include the startup cost including the machinery, equipment, and other necessary consumables. Additionally, calculate the working capital cost including shop rent, manpower cost, raw material, and other administrative expenses.
If you are planning to start on a small scale, some of the basic topics that your digital printing business plan document are as follows:
- Initial and Recurring Costs
- Market Competition
- Target Customers
- Pricing plan
- How do you plan to sell your digital printing services?
5. Name Your Digital Printing Company
It is extremely important to choose a catchy and attractive name for your digital printing venture. You can check our detailed guide on the steps to be followed to name a business to learn more.
A correctly coined name for your digital marketing company not only contributes n overall brand growth but also fetches more customers.
6. Select the Right Location for Your Digital Printing Unit
For making the business successful, you must have a great business location that ensures enough footfalls. And even if you need to pay more for that don’t hesitate. According to the product range, you want to offer to determine the area Sq Ft you want. Actually, you will need to have space for machine operation, equipment keeping, and admin jobs. Definitely, if you want to address large-scale requirements, then you must secure a bigger space.
7. Equipment Needed to Set up Digital Printing Unit
The most important tool that you need to run a digital printing unit is the printer. The type of printer will largely depend on the type of printing you are going to deliver. It can be an inkjet, laser screen, or offset. For large production, a laser printer is a better option.
Other than a printer, you will also need ink toner, cartridge, and other necessary consumables. Also, you need a computer attached to the printer. According to the design requirements, you may need to use some design software solutions like CorelDraw and Photoshop. Try to use every inch of the space effectively.
8. Promote your Business
Start promoting your business from day one. You need to concentrate on the B2B promotion. Generally, business houses and corporates are the major buyers of this type of product. You must have a business website.
Also, you can offer customized printing facilities to your end-users. In the digital printing business, quality is the last word. And you must satisfy your customer with color, design, and brightness.
Only after getting the confirmation, go for the final print. Otherwise, you may a huge loss if the customer rejects the work. The major advantage of digital printing is cheaper low volume printing. So, you must attract consumers who want quality low volume printing in a cost-effective manner. In the digital printing business, you can also consider personalized or customized printing services.
Frequently Asked Questions
Is Digital Printing Business Profitable?
Though offset printing dominates the printing industry, the demand for digital printing is increasing rapidly. Basically, the cost-effective nature of digital printing against traditional analog printing is the major reason.
Currently, digital printing accounts for 16.2% of the global print market value and 2.9% of the volume. According to industry experts, the previously dominant offset litho will decline in terms of value.
Inkjet is the fastest-growing print process. It is increasingly being adopted in more applications as the quality, reliability, and economics of the process improve. Additionally, the expenditure on R&D bears fruit in this industry.
What is the Cost of Starting a Digital Printing Business?
The investment required will depend on the size and number of customers you’re planning to handle. On average, the cost of starting a small digital printing business will be around $ 10,000 to $20,000 in the United States. It includes business registration fees, license fees, insurance premiums, software expenses, manpower costs, website fees, and marketing costs. The office rent is not included in the digital printing start-up cost as it depends on the location.
However, if you are planning to start from home, the cost will be much less.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.