There are , of course, no single best answers to your questions due to the sheer size and range of this craft/business/profession/hobby we call signmaking. For many people signmaking is a hobby or a sideline. For others it's a mom and pop cottage industry. Yet others populate it where their equipment and expertise would rival major construction companies. Many occupy it's ranks with the focus on retailing, defining and systematizing products to make and sell. There are those who focus on their artistry and/or design skills. Others who focus on technical and manufacturing excellence. And a very small group who focus on being the lowest priced (read this with a high tone of sarcasm). And another group specializes in jobber work .... producing those things that aren't cost effective for most
sign companies to do themselves.
So who do you want to be? You presumably have some skills in both graphic design and computers. Your father-in-law adds into the mix at least the production skills that should help a lot. If you were to prioritize the things you are looking for from your business and from life in general, how would you rank the following?
1. High income
2. Above average income
3. Independence
4. Time with family
5. Creative gratification
Would you rather do one job that sells for $10,000 or 100 jobs that sell for $100 each?
Do you have or plan to get the certifications and licensing that would qualify you for contractor status and allow you to take on major projects, or are you thinking more in terms of a more limited approach that focuses on less ambitious undertakings?
Your answers to all these and other questions must really be known for anyone to answer the questions you've asked. But in a general way, I'll answer as best I can.
1. Tell the Pros and Cons of the sign business (biggest pro for me already is the thought of being my own boss)
Pros: It is not only satisfying creatively and something in which I have found pleasure, it is a profession where you can receive a high return on your time, teach and employ others to expand beyond your own efforts, achieve a loyal customer base, and leap over your competition just through self-growth and pursuing excellence.
Cons: It is an industry that has become increasingly influenced by the hardware and software used to manufacture its output. There is far more "acquired productive capability" in place then there is demand. The result is, regrettably, a decline in prices through increased competition. This is aggravated by both a lower cost of entry into the business and a perception on the part of many buyers that what is being purchased is just a commodity type of product with no particular skills needed to do it ... just that you have a machine and the buyer does not.
So you are in a constant battle to educate your prospective clients, impress them with your capabilities, get a price that's fair to you, and do enough business to make both a reasonable living for yourself and make a profit so you can finance your growth.
2. Share the basic equipment list that is needed for a sign business
You need to be able to design and produce the graphics for any given job. This requires a
computer, design software, outputting software, and a vinyl cutting plotter. A printer is not basic equipment.
You need materials in the form of vinyl, transfer
paper, and various substrates.
You need to have the capability of cutting the substrates to the sizes and shapes you will need. Straight edges, knives, saws, routers, sanders, etc.
You need to be able to store your materials so that they are both handy and safe from damage.
You need to have adequate workspace to do the kinds of work you plan on doing and a variety of work tables, saw horses etc. In addition you need to have clean areas for graphics production and separate areas for those things which will generate dust, dirt, smells etc.
You need one or more suppliers with whom you develop a close relationship and that are within a reasonable proximity to you so that you can get inventory and non-inventory items quickly when needed, as well as get advice and support.
3. Share Resources that have helped you in the business
Subscribe to and read at least two different trade journals. Go to at least one major
sign expo a year. Develop friendships with peers in other areas .... and, if possible, in your own immediate area.
4. Possibly share a business plan that would serve as a template to get me started in the right direction.
Don't have one. But I strongly recommend growing your business from profits versus upfront investment to the greatest extent possible. Listen to your customers and keep yourself informed about the industry.
The most important issue after acquiring the knowledge and capability to be able to produce a variety of signage is:
How are you going to go about getting customers? This is where many folks in this business are clueless. And this is where you should spend a major part of your time determining what suits you and will produce good results. Next to being a good signmaker, there is nothing more important to your success than quickly establishing a regular flow of work. Doing this not only generates sales and cash flow .... it also helps provide the confidence to quote prices that are fair to both you and your client and to enter into a growth cycle for your business.
There's a very interesting thread at another forum going on right now. A gentleman who could be described as somewhere between a journeyman and a master signcrafter in a medium sized town was just barely making a living even though his work was excellent. He decided to convert his business into a franchised
sign store.
He relates how the franchisor helped him both with becoming more systematic in his production, adopting uniform pricing standards, setting up a store that was both a place his clients were comfortable coming to and did a good job of marketing his work, setting up controls to manage and grow his business, and training / evaluation procedures for his employees.
Following his opening his first year income was $50,000. Second year was $70,000 with continued growth each year. At this point, in only a medium sized town, his store grosses $800,000 a year.
Please don't misunderstand .... I'm not recommending anyone go out and buy a franchise. Lots of them fail miserably. The point is that he had good signmaking skills and he was failing. By adding good management and marketing, along with better productivity, he was able to completely reverse his situation.
Hope this helps.
:U Rock:
ffice
