Do you want to start a small digital printing business? Find here a detailed guide to 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.
Digital Printing Business Market Trends & Potential
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 improvement. Additionally, the expenditure on R&D bears fruit in this industry.
Is Digital printing Business Profitable?
- 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 much 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.
6 Important 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. Decide your Product
For a startup company, deciding 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 the business card, photos, leaflets, brochures, banners, letterhead, t-shirts, signs, and books.
However, it is better to research the market. You need to get as much information about the present printers at 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
3. 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.
4. Select a 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.
5. 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 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.
6. 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.
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.