Right now is a great time to start your own business. There are dozens of government programs aimed at helping people start their own businesses and the cost of business equipment and supplies is at an all time low. If you are looking for a business opportunity that will not cost you a lot of money upfront then consider opening a large format printing business.
Large Format Printing Business
A large format printing business is a company that produces printed materials that are larger than what the average printer can produce. They create things like posters, photograph blow-ups, banners and signs. Businesses that use large format printing services include non-profits, event organizers, schools, retailers, recruiters and banks.
To start-up a large format printing business you will have a few purchases to make. First you will need at least one large format printer. There are several varieties to choose between. There are large format color printers, large format black and white printers, and large format etchers and scrollers. The printer that you select will need to reflect the type of print jobs you will be working with, for example, if you will be printing full color posters and other colorful media projects on paper, then a color printer will work. However, if you want to offer vinyl signs and banners as well, then you will need to buy a color printer and a large format etcher and scroller.
In addition to your large format printer you will also need to pick up supplies for your printers. If you bought a paper printer you will need to purchase, ink or toner, various sizes of paper, appropriate chemicals for your machines and cords, stands and other accessories. On the other hand, if you bought a printer that works with vinyl, then you will need to buy vinyl rolls, cutters and other related supplies. Finally you will need to buy a computer and desktop publishing software. These tools will be used to design the posters and signs and to send the print jobs to your printer.
On the business end of your start-up costs you will need to find a place to set up shop. You can rent an office location or work out of your home office. You will also need to purchase liability insurance and a business license. Fortunately for this type of business both of these safeguards will be inexpensive.
Income Potential and Tax Benefits
The earning potential of your large format printing business is going to depend on the mark-up for your products and the size of your clientele. The more signs and posters you are able to sell the more money you will be able to bring in, however, a markup of 100 to 300 percent is normal. This means that if a 12” X 36” poster costs you $5 to manufacture that you charge between $10 and $20.
There are a lot of tax benefits associated with running your own business. In this case you will be able to deduct all of your equipment, your home office or rental expenses and you will also be able to deduct a portion of your vehicle expense if you deliver products or if you use your car to advertise your business.