Every business needs to stand out, and the best way for a marketing firm to do just that is to add in-house printing services. There are so many ways that you can expand operations and bring in revenue by having a team that handles printing OOH (out of home) marketing materials. You can even use that service to add additional revenue streams, like the ability for artists to sell their posters through you.
For marketing firms, adding new revenue streams is a must, particularly if they’re currently struggling to find clients. Adding printing to your business model can bring in extra income, offer a complete start-to-end marketing service, and help your company stand out from the competition. It’s not easy to add a whole new branch to any company, so use these tips to help you get it right and advance your firm to the next level this year:
Update Your Business Plan
Every business needs a business plan. Some believe that a business plan isn’t useful when you launch your company. However, it can help direct every step you make forward with it. It can help you track your progress, identify unique opportunities, and can even help you stay focused when things get tough.
This doesn’t mean that it cannot change. In fact, it should be updated frequently so that it contains the latest market, competitor and customer research. It should also be updated whenever you want to add a new big change to your operations, like adding a printing branch. Give this update the same level of care as when you first started, and you’ll have a clear roadmap for getting started.
Investing in the Necessary Equipment
To add printing to your business model, you need the space and all the essential printing business equipment. You can start small and work your way up, so don’t stress too much about not being able to offer all the options outright. Instead, create a set of stages. If you see a big uptick in revenue, you can expand and add a new printer or printing technology to your repertoire.
This is how you can expand naturally without putting an unnecessary strain on your overheads, regardless of how you finance these printers.
Establish the Necessary Supply Chains
Even though you’re printing in-house, you will still have a supply chain. This means you’ll need to identify whom to go to for your inks, your printing materials, and so much more. Materials, in particular, are going to vary drastically. After all, you can print on almost anything with the right tools, so what mediums do you focus on? The answer is the medium your clients are most likely going to need. If your clients are mostly small businesses, for example, then small printing batches like leaflets, cards, and product printing are going to be your main focus. If you work with brick-and-mortar companies, you may want to focus on banners, decals, and other in-store promotional options. Identify what your clients will need most and find suppliers that can fulfill your material needs best from there.