My OperaImprentas en Tenerife Your Own Screen Printing Business - Part Two
Tuesday, March 1, 2011 6:12:44 PM
When it comes right down to it, creating a business plan is not a lot of fun but it is essential to do. Without a set plan that you can follow you will more than likely wind up like the majority of business in their first year, out of business.
Your plan needs to take into account your local market. It should be obvious but if you have no tourism in your area you should not try and market to a tourist crowd, you'll need to define your local market and then proceed. Spend some time to really define your market, or markets, that you can reach with your products. Your market mights be local camps or bowling leagues. How about dart teams or other niche markets.
Do not overprice your products. Competitive prices are a necessity regardless of how specialized you may be. Some very unique items can be priced higher, but don't lose sight of your basic market and keep your prices within reason. In particular today, with a very poor economy.
You can sell for less than your competition and get some extra work, this method does work although you will make more you will put in more effort as well. You will need to set your rate, hourly is best, so that you can charge a standard fee. You can have an across board fee per shirt, or per style of shirt, and then impose a setup fee to cover everything beyond the shirt blanks themselves.
Look around for suppliers of both machinery and product and get all the prices you can. Your stock will be diverse so get prices on all the styles and colors T-shirts come in. Don't skimp on quality just to get a good price, be sure to check the quality of your potential suppliers.
Women and men will like different style and colors so check into this and order accordingly.
You will absolutely need somewhere to work and equipment to print the T-shirts on. You can get an idea of what space you'll need by checking the size of your equipment and whether you'll have employees or other people around. Eventually you will probably be hiring people to do some of the work. Keep in mind that they will need space to do their work too. You may also need an office, showroom or even a store front? Your plan, and your needs, will determine all of this.
Inventory takes up room too, so plan accordingly. It seems to be one of those unwritten laws that if you have space it gets filled quickly.
It is best to not keep a lot of shirt blanks in stock. Purchase what you need, and maybe an extra or two, for each job you get. You can charge enough of a deposit to start the job that you can purchase all the stock with it. This is good advice and it keeps your inventory down and eliminates items that you can't get rid of that hang around in the inventory from year to year.
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