At A Crossroad, To Keep Going or Call It A Day?

[binki]

Our defining moment was moving from a home based to a shop based biz. Now that doesn't mean you can't do it from home but really, if you want to make this your biz then at some point you need to make a leap of faith or just keep bumping along.

I wrote a business plan before I even started. I actually wrote several because I wasn't sure what I wanted to do. I sold paper, I looked at coffee and then at screen printing. It took 2 years to do all of that before we started. And, we started by sourcing everything so we could focus on sales. Once we were comfortable, we started purchasing equipment.

 

[Ian Stewart-Koster]

Jorgolush, quote "If you can sit with a client and instill in them a confidence that you are the person that can take this unorganized project off their plate and get it done right at a fair price, you can sell printing..."

Your entire post is brilliant - there are more gems in that post that most will never realise...

 

[bigwow]

I'll be honest - I wouldn't be signing a new long term lease in the current economic environment and with possible COVID uncertainties still looming.

Is the new shop in a retail space? Is that retail space in a predominantly B2B area? Or might you be better off in a more business / light industrial area? Retail space might seem like a good idea, but in reality you may well end up with a whole bunch of time wasters walking on in - 'I can get a banner on the internet for half that cost' etc etc.

Warehouse or flexi space is much cheaper than retail. If you are serious about focusing on wraps it might actually be a better idea as you can drive vehicles inside to prep / wrap, and if you intend to print at the location as well it may be better in terms of ventilation / regulations etc.

Full disclosure - I have zero interest in wraps - as another poster has already stated, it's a tough gig and there are many who are solely set up for 'wrap-only' work.

 

[caribmike]

I enjoyed reading this post! My wife and I are Canadians living in the US Caribbean (both dual citizens) and have a well established commercial printing company and sign shop that we bought as a going concern 20 years ago. We're 60 and 63 and heading in the other direction from the OP! In the past few years, we have converted 95% of our in-house production to outsourcing (eliminating 9 FT employees). We're still making most signs in-house at the moment with 1 remaining employee but most banners and larger sign orders are now outsourced too. The wholesale prices we can get are ridiculously cheap and even with shipping, we are very competitive and profitable in our local market where are the leader. We're planning to close our 10000 sf plant at the end of the year and will become strictly an online entity reselling printing, signs, banners, t-shirts and promotional products (and anything else that makes a profit and appeals to us). There is no longer a need to have a physical store or employees. I believe printing/flat signs (obviously not including sign structures or wraps) are the ultimate drop ship B2B business. With our web-to-print internet sites, we can market and sell our products anywhere in N. America or the world for that matter as long as we can find a wholesale vendor that blind ships in that area. Closing the plant will put about USD $150K additional revenue in our pockets with the significantly lowered overhead. I've bought several top-level domain names related to printing/signs over the years and these now come in very handy. If I were the OP, I'd forget about opening an "old school" shop and go the online route. As our "retirement" looms in the near future, I'm so happy that I'll have a super profitable 6 figure side hustle to keep me amused and can be managed from my laptop from anywhere in the world (we have one kid in Australia and one in Toronto). We thought about selling the business as a going concern, but, found that no one was willing to pay what it was worth or had the work ethic to succeed. I hope this helps provide another perspective to the poster.

 

[Stacey K]

I agree with caribmike. Online is the way of the future and has been so important during the pandemic, why not take that rent money and put it towards a website?

 

[Medina Signs]

I agree with just about everyone on this thread... Leasing a shop location is a huge nut to crack every month... I cna't give you advise but I have a friend who works out of his house, located on a main drag. He has a garage and a shop on the property. I nice set up -

Consider buying a new house with room for a shop - It makes so much sense from a financial viewpoint.

Good Luck!

 

[Gino]

How do you run a business doing truck lettering and wraps on line ??

Would you hire a plumber on line ??
Would you hire a dentist on line ??
Would you hire an auto mechanic on line ??
Would you buy your refrigerator on line ??


You people who still think making trinkets like business cards, brochures, t-shirts, coffee mugs and such things are just novelty outlets. Of course your stuff will sell on line, but when you want something of substance, you need to see these people and their capabilities. On line pictures don't count, because about 98% of them use someone else's merchandise.

 

[binki]

...
Would you buy your refrigerator on line ??

Yes. Did it in November.

 

[Gino]

Didn't say you couldn't. Evidently some people like the convenience, but I'd rather hear the strength of the machine. Feel the solidarity of the doors and whatnot. I'd like to compare side by side before I lay out $2,500 on something. Unless you're buying strictly for cost, I think any big ticket item should be seen first hand.

 

[Notarealsignguy]

I like online selling but feel like it is better suited for mass produced type signage. For custom items, I feel like you would tend to attract the bottom feeders but I don't actually know that for sure. If you really want to make it, the location won't matter so much since this is more of a B2B industry. Your drive and ability to go out and sell will really determine where you end up and there is nothing in my mind that can sell something better than an actual person going out and pounding the pavement. It seems pretty commonplace today for people to start something and expect for orders to fall in their lap which I do not understand at all. The making the product part is the easy piece, getting the work should be your focus. A website alone is not going to do it.

 

[Stacey K]

If you can continue to operate from the house, find a business in the area with a heated metal building to do installs, probably not wraps, but regular trucks, cars, vans. I use my snowplow guy shed but I have access to the plumber the trucker and the construction guys sheds if needed. $50 for the day and a donut is what I pay. He sometimes insists I don't need to pay but he needs to move stuff around some days and he drives the vehicles in if they are manual since I can't LOL. Plus he puts the radio on, turns up the heat - completely worth $50 a day in winter or rainy summer days.

Personally, if you are messing around with just little things, I'm not sure how you could make it. If you can, start doing some small business pick-up trucks/vans, they lead to more vehicles and other avenues for small businesses. Most of my customers are small business owners and I do the vehicles, the apparel and signage. Even though it's a PITA I farm out embroidery just to make sure I keep the rest of the apparel. Many people like the "one stop shop" - which sounds like you could easily do. I can't tell you how many people proclaim their happiness when they find out I do apparel, yard signs AND I can letter their truck. Is that ideal? Not really but that's what I got known for and it's hard to change that now.

 

[Boudica]

Didn't say you couldn't. Evidently some people like the convenience, but I'd rather hear the strength of the machine. Feel the solidarity of the doors and whatnot. I'd like to compare side by side before I lay out $2,500 on something. Unless you're buying strictly for cost, I think any big ticket item should be seen first hand.

Gino's that guy walking around home depot kicking refrigerators, to see how sturdy they are.

 

[Notarealsignguy]

Gino's that guy walking around home depot kicking refrigerators, to see how sturdy they are.

What do you mean that it's not available in avocado green??!! What kind of appliance store is this!?

 

[Gino]

Heck no. I put one of those dumb workers with the orange aprons on, in the freezer compartment and see how much noise they make getting out. Then, I have some idea of how loud the ice makers gonna be at night while I'm sleeping. I need more insulation. Think I need more cowbell, too. I'm getting a fever.

 

[binki]

Didn't say you couldn't. Evidently some people like the convenience, but I'd rather hear the strength of the machine. Feel the solidarity of the doors and whatnot. I'd like to compare side by side before I lay out $2,500 on something. Unless you're buying strictly for cost, I think any big ticket item should be seen first hand.

They are all made in China and garbage and throw away. I get my money out of them by repeated calls to service and complaining to get them to give in and give me another one for free so I cut my cost in half.

 

[Notarealsignguy]

They are all made in China and garbage and throw away. I get my money out of them by repeated calls to service and complaining to get them to give in and give me another one for free so I cut my cost in half.

So you complain in restaurants, complain about your purchases and badger everyone til you get something for nothing? You are the guy that everyone hates dealing with. I wouldn't be bragging about it, just saying.

 

[artofacks1]

I’m trying to make this move to but I been running my biz for 7 years now. I’m looking for a bigger home so I can have more space for my equipment instead of having a separate location for my biz.

 

[visual800]

stay in your home and work. Take on larger jobs and increase your pricing. Learn to sub out to larger shops and try not to invest in any equipment that can be subbed out to.

 

[Stacey K]

Gino would be appalled at my fridge. Mine died and I went online ordered one of the cheapest ones I could find that was in-stock and got it delivered the next day LOL

 

[Texas_Signmaker]

I’m trying to make this move to but I been running my biz for 7 years now. I’m looking for a bigger home so I can have more space for my equipment instead of having a separate location for my biz.

That's what I did. Got a 4200 sq ft. house built to have my work area separate. Still cheaper than two rents and utilities.