Flex banners are the most essential items for outdoor advertising these days. And any individual can start a successful flex printing business with a small capital investment.
Here in this article, we put every detail for starting a flex printing business for entrepreneurs. You can start a flex and banner printing business in two ways. In both cases, you must have a flex printing business project report in your hand.
The first option, you secure a retail space with sufficient area. And you set up the entire business there.
On the other hand, you can secure a comparatively small retail space. And you set up a small store with a designing area. And you install the machinery in some other place which is less expensive.
The first option is definitely more lucrative. However, the second option is more cost-effective. And if you don’t have the space of your own, we’d recommend you to go for the second option.
And in that case, you can even install the printing unit at your home.
Is Flex Printing Business Profitable?
The flex and banner market is growing all across the world rapidly nowadays. Additionally, the item is the most popular tool for any type of outdoor and as well as indoor advertising.
We can see a growing demand in almost every city including Delhi, Mumbai, Bangalore, Hyderabad, Chennai, and Kolkata.
Some of the most potential consumers are regional and national political parties. They use banners in almost every program and rally. Additionally, companies operating in several industries use banners for various purposes.
Apart from digital signage, flex is the only instrument for outdoor media advertising.
Furthermore, every school, educational institution, and sports organization uses flex banners in almost every event. Additionally, there is a good domestic market also.
Nowadays, people use flex banners in events including birthday parties or social gatherings. Therefore, the flex printing business has the potential market for new entrepreneurs.
Here are the 7 Steps to Start Flex Printing Business
1. Create Business Plan
Craft a flex printing business plan. If you can’t do this on your own, take help from the experts. It is important to figure out your capabilities including skill and finance.
Do remember, that this business plan document will work as a road map for the future activities of the flex printing company. Some of the basic chapters of your flex printing business plan document must include are the cost and investment of the project, operational plan, manpower plan, financial, and promotional plan.
2. Select a Location
Secure the space for the business. If you want to start the business from a single point, then you must select the space carefully. The location must attract a wide audience. Additionally, you must have specific areas for customer desks, designing, and printing purposes.
3. Registration & Licensing
First of all, register your business. Check the licensing factors of your state. Generally, you must have a license under the Shops & Establishments Act.
If you planning to start a flex printing business in India, GST registration is a must at present.
Additionally, talk to a local tax consultant to understand the upcoming tax liabilities and yearly compliances.
Related: Small Business Registration In India
4. Purchase the Machinery
Several different types of flex printing machines are available in the market. However, according to your specific need, you must choose the right machine. You must consider the quality and quantity you want from the machine.
Additionally, there are machines that allow printing on various surfaces. It includes wood, MDF boards, etc. Generally, you will need to have to print and cut the machine.
Additionally, purchase an upgraded computer with a normal printer. A printer is essential to get the looks of the final design. Procure the necessary software.
5. Calculate the Cost of Starting a Flex Printing Unit
The business demands a moderate capital investment in flex printing machinery. Additionally, you will need to invest in securing the retail space, manpower, and some design tools.
Generally, you will need to have computers, an internet connection, a printer, and designing software.
Read: Best 3D Design Software
The approximate cost of launching a flex printing business on a small scale will be in the range of Rs. 10 Lacs to 20 Lacs in India.
If you are starting the business with your own fund is good. Otherwise, you can apply for the fund for the machinery purchase. Additionally, you can also apply for the total project finance as well.
6. Required Manpower
Manpower is the most critical factor in the flex printing business. Because the entire goodwill depends on them. The designing person and a printing person are the major requirements. Hire only skilled and experienced employees.
7. Promote Flex Printing Business
Nowadays, no business becomes successful without promotion. And this business also demands marketing and promotional activity.
You must attract the local market first. So make available your business in the local business classifieds. Nowadays, the internet plays a big role. So you must consider this factor.
Related: How to Make a Small Business Website in India
Create your own website. Promote your business there. Additionally, you can set up a small online store for your customers. It will definitely help you in the expansion. Usually, it is effective for a flex printing business to build a loyal customer base by providing trustworthy and customized printing services.
Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.