Are you about starting a flex printing press company? If YES, here is a complete sample flex printing press business plan template & FREE feasibility report.
As an aspiring entrepreneur who is looking towards starting a business, one of the businesses you can choose to start is a flex printing business.
Starting up a flex printing business needs significant investment capital, solid planning, and attention to detail in order to keep your business profitable. In recent time, the demand for the services provided by flex printing press maybe on the decrease because of load options that are available.
So, if you have decided to start your own flex printing press business, then you should ensure that you carry out thorough feasibility studies and market survey. This will enable you properly locate the business in a good location; a location with the right demographic composition and then hit the ground running. Business plan is yet another very important business document that you should not take for granted when launching your own flex printing business.
Below is a sample flex printing business plan template that can help you to successfully write your own with little or no difficulty.
A Sample Flex Printing Business Plan Template
- Industry Overview
The printing industry is indeed a very large industry with many subsets and flex printing press is one of the active lines of business in the industry.
Flexible printing refers to sign printing of vinyl banners. Flexography is a form of printing which utilizes a flexible relief plate. Digital printing cum flex printing has a higher cost per page than more traditional offset printing methods, but this price is usually offset by avoiding the cost of all the technical steps required to make printing plates.
It also allows for on-demand printing, short turnaround time, and even a modification of the image (variable data) used for each impression. Over the past decade, the rise of online media has provided fierce competition for operators in printing-related industries.
Despite this trend, and in some ways because of it, the Digital Printing industry has recorded growth. As commercial printers have experienced declining demand, they have increasingly adopted digital printing techniques over more traditional printing press operations, since these services lower overhead costs and enable operators to offer customers greater flexibility.
As a result, Digital Printing industry participation and revenue have surged, but represent the conversion of existing printers to digital operations, rather than new entrants into the printing market.
The Digital Printing Services Industry is indeed a very large industry and pretty much active in all the parts of the world. Statistics has it that in the United States of America alone, there are about 7,047 registered and licensed digital printing services (flex printing press inclusive) responsible for employing about 50,447 people and the industry rakes in a whooping sum of $11 billion annually.
The industry is projected to enjoy 3.6 percent annual growth and the Digital Printing industry has no companies with major market shares.
Research carried out by IBISWorld shows that the over the past five years, the Digital Printing industry that flex printing is a part of has grown by 3.6 percent to reach revenue of $11 billion in 2019. In the same time – frame, the number of businesses have grown by 5.5 percent and the number of employees by 4.8 percent.
If you are looking towards starting your own flex printing business, then you should endeavor to learn the trade. The truth is that the technology and processes involve in this line of business will require a period of time (months) to learn.
Over and above, the flex printing business is pretty much open to new entrepreneurs and investors to come in and build a successful business. But they must first and foremost ensure that they conduct thorough feasibility studies and market survey before situating the business in any location.
Flex Printing Press Business Plan – Executive Summary
Crystal Clear™ Flex Printing Press, Inc. is a standard printing press. We have been able to secure a well – positioned office facility in a busy business district in Greater Los Angeles Area – California. We are a world class flex printing press that is set to compete in the highly competitive digital printing services industry not only in the United States market, but also in the global market.
Crystal Clear™ Flex Printing Press, Inc. will be involved in the all aspect of flex printing used for large board, Digital banner, paper, PVC, mesh fabrics, and foot cloth, Indoor wall paper, ceiling films, Textiles, Car sticker, bus shelters and related printing services.
Our business goal is to become one of the leading flex printing press businesses in the United States and we will make sure that every flex printing job that leaves our press can favorable compete with the best in the industry.
Our workers are going to be selected from a pool of talented and highly creative printers in and around Greater Los Angeles Area – California. We will make sure that we take all our workforce through the required training that will position them to meet the expectation of the company and to compete with leading flex printing services companies in the United States.
At Crystal Clear™ Flex Printing Press, Inc. our client’s best interest come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by delivering excellent and neat jobs and also meet our client’s needs precisely and completely.
Crystal Clear™ Flex Printing Press, Inc. is a private business that is owned and managed by Mr. Leonard Phil and his immediate family members. Leonard Phil studied Printing Technology at Illinois Institute of Technology and he has over 10 years of hands-on experience working with one of the leading flex printing companies in the United States of America.
- Our Product and Services Offering
Crystal Clear™ Flex Printing Press, Inc. was established with the aim of maximizing profits in the digital printing press industry.
We want to compete favorably with the leading flex printing press companies in the United States of America which is why we have put in place a competent quality assurance team that will ensure that all our flex printing services for large board, Digital banner, paper, PVC, mesh fabrics, and foot cloth, Indoor wall paper, ceiling films, Textiles, Car sticker, bus shelters and other related printing services rendered meet and even surpass our customers’ expectations and match up with international best practices.
We will work hard to ensure that Crystal Clear™ Flex Printing Press, Inc. is not just accepted in Greater Los Angeles Area – California but also nationally throughout the United States of America.
- Our Vision Statement
Our vision is to establish a standard and world class flex printing press whose services and brand will not only be accepted in Greater Los Angeles Area – California but also throughout the United States of America.
- Our Mission Statement
Our mission is to build a world class flex printing press that will be known to execute top notch flex printing projects and to become the number one choice for branding, advertising and promotion agencies and other stakeholders in the industry. We want to build a flex printing business that can favorably compete with other leading brands in the industry.
- Our Business Structure
Crystal Clear™ Flex Printing Press, Inc. is a flex printing press business that intends starting small in Greater Los Angeles Area – California, but hopes to grow big in order to compete favorably with leading flex printing companies in the industry both in the United States and on a global stage.
We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own, this is why we are committed to only hire the best hands within our area of operation.
At Crystal Clear™ Flex Printing Press, Inc., we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all our stakeholders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer (Owner)
- Accounting Clerk / Cashier
- Flex Printing Machine Operators
- Client Service Executive
Roles and Responsibilities
Chief Executive Officer – CEO:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results and developing incentives
- Responsible for providing direction for the business
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defining job positions for recruitment and managing interviewing process
- Carrying out induction for new team members
- Responsible for training, evaluation and assessment of employees
- Oversee the smooth running of the daily office activities.
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensuring compliance with taxation legislation
- Handles all financial transactions for Crystal Clear™ Flex Printing Press, Inc.
- Serves as internal auditor for Crystal Clear™ Flex Printing Press, Inc.
Flex Printing Machine Operators
- In charge of operating flex printing machines
- Liaising with clients to determine their requirement and budget
- Responsible for negotiating fees and setting schedules for the project
- Responsible for researching and drawing up rough plans
- Responsible for developing detailed designs and choosing materials
- Responsible for preparing drafts or material based on an agreement brief.
- Research and advice the organization on style, genre and other trendy info as it relates to flex printing et al.
Client Service Executive
- Welcomes clients and visitors by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the manager in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to potential clients when they make enquiries
- Receives parcels / documents for the company
- Distribute mails in the organization
- Handles any other duties as assigned by the manager.
Flex Printing Press Business Plan – SWOT Analysis
Crystal Clear™ Flex Printing Press, Inc. employed the services of a core professionals in the area of business consulting and structuring to assist our organization in building a well – structured flex printing business that can favorably compete in the highly competitive digital printing services industry.
Part of what the business consultant did was to work with the management of our organization in conducting a SWOT analysis for Crystal Clear™ Flex Printing Press, Inc. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Crystal Clear™ Flex Printing Press, Inc.;
Our core strength lies in the power of our team; our workforce. We have a team of creative and highly proficient workforce, a team with excellent qualifications and experience in various niche areas in the printing industry. Aside from the synergy that exists in our carefully selected workers, we have some of the latest flex printing machines and equipment and of course our work output and services will be guided by international best practices in the industry.
As a new flex printing press business in Greater Los Angeles Area – California, it might take some time for our organization to break into the market and gain acceptance especially from the government and other high-profile clients in the already saturated and highly competitive digital printing services industry; that is perhaps our major weakness. Another weakness is that we may not have the required cash to promote our business the way we would want to.
No doubt, the opportunities in the digital printing services industry is massive considering the number of individuals and corporate organizations that would need the services of flex printing companies. As a standard flex printing press business, we are ready to take advantage of any opportunity that is available in the industry.
A major threat that is common to businesses such as ours is the fact that printing-related industries have generally suffered due to competition from digital media and the fact that print advertising expenditure in the United States of America is expected to decline in 2019, posing a potential threat to the industry.
Flex Printing Press Business Plan – MARKET ANALYSIS
- Market Trends
A notable trend in this industry shows that as commercial printers have experienced declining demand, they have increasingly adopted new digital printing techniques. As a flex printing business with the aspiration to favorably compete in the industry, you are expected to keep tabs with new trends and products that are always coming up in the industry.
It is important to state that in recent time, for any flex printing press business to continue to stay in business and grow, they must continue to come up with highly creative design and concepts and also engage in other printing related services.
- Our Target Market
Before starting our flex printing business, we are certain that there is a wide range of clients who cannot successfully carry out promotions and branding of their products and services without engaging the services of a flex printing press. We will ensure that we develop strategic pacts with corporate organizations, advertising and branding agencies, and religious organizations et al. This will give us several options to generate revenue for our company.
In view of that, we have created strategies that will enable us reach out to various corporate organizations and individuals who we know can’t afford to do without our services. We have conducted our market research and survey and we will ensure that all our flex printing services are well accepted in the market place.
Below is a list of the people and organizations that we will specifically market our products and services to;
- Corporate Organizations
- Manufacturers and Distributors
- Real Estate Owners, Developers, and Contractors
- Research and Development Companies
- The Government (Public Sector)
- Schools (High Schools, Colleges and Universities)
- Sport Organizations
- Religious Organizations
- Political Parties
- Television Stations
- Branding and Advertising agencies
- Aspiring celebrities
- Entrepreneurs and Startups
Our Competitive Advantage
The competition in the flex printing industry is getting stiffer by the day, you have to be highly creative and come up with appealing designs and concepts and very neat jobs in order to survive in the industry. The flex printing line of business is indeed profitable and at the same time a highly competitive; it enjoys strong demand as organizations and individuals continue to print materials for promotional purposes. Clients will only engage your services if they know that they can get nothing but the best from you.
We are quite aware that to be highly competitive in the business means that you are not only expected to be able to deliver neat jobs, but you must be able to meet set targets. No one would want to engage your services if don’t always meet up with the target date of completion of projects.
We can boast of having well – trained staff that is ready to deliver and we have some of the latest and efficient digital printing machines and equipment and of course our work output and services will be guided by international best practices in the industry.
Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
Flex Printing Press Business Plan – SALES AND MARKETING STRATEGY
We are not ignorant of the stiff competition in the flex printing industry; there are loads of flex printing press and other digital printing companies jostling for contracts which is why we have been able to hire some of the best freelance marketing experts to handle our sales and marketing.
Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their set targets and the overall business goal of Crystal Clear™ Flex Printing Press, Inc.
Our goal is to grow Crystal Clear™ Flex Printing Press, Inc. to become one of the leading flex printing companies in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in Greater Los Angeles Area – California but also in other cities in the United States of America.
Crystal Clear™ Flex Printing Press, Inc. is set to make use of the following marketing and sales strategies to attract clients and win flex printing contracts;
- Introduce our flex printing press business by sending introductory letters alongside our brochure to corporate organizations, advertising and branding agencies, religious organizations and key stake holders in and around Greater Los Angeles Area.
- Promptness in bidding for flex printing contracts from the government and other cooperate organizations
- Advertise our business in relevant business magazines, newspapers, TV and radio stations
- List our business on yellow page ads (local directories)
- Attend relevant international and local expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still deliver excellent flex printing services
- Leverage on the internet to promote our business
- Engage direct marketing approach
- Join local chambers of commerce and industries to network and market our services
- Encourage word of mouth marketing from loyal and satisfied clients
Sources of Income
Crystal Clear™ Flex Printing Press, Inc. is established with the aim of maximizing profits in the flex printing services industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients.
Crystal Clear™ Flex Printing Press, Inc. will generate income by offering flex printing used for large board, Digital banner, paper, PVC, mesh fabrics, and foot cloth, Indoor wall paper, ceiling films, Textiles, Car sticker, bus shelters and other printing related services.
We are well positioned to take on the available market in flex printing industry and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow our flex printing press business to enviable heights.
We have been able to examine the flex printing market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Greater Los Angeles Area – California.
Below are the sales projections for Crystal Clear™ Flex Printing Press, Inc., it is based on the location of our business and of course the wide range of our services and target market;
- First Fiscal Year: $150,000
- Second Fiscal Year: $300,000
- Third Fiscal Year: $650,000
N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same flex printing services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Our Pricing Structure
If you are conversant with the flex printing cum digital printing services industry, you will realize that the pricing structure ranges from fixed price rate to per square foot billing and even to the quantity of materials to be printed on.
At Crystal Clear™ Flex Printing Press, Inc. we will adopt all the pricing system as is obtainable in the industry but we will ensure that we keep the prices of our services a little below the average market rate for all of our customers by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to all our customers at regular intervals.
We are aware that there are some one – off flex printing services jobs or government contracts which are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts.
- Payment Options
The payment policy adopted by Crystal Clear™ Flex Printing Press, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Crystal Clear™ Flex Printing Press, Inc. will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via online bank transfer
- Payment via mobile money
- Payment via Point of Sales Machines (POS Machines)
- Payment via check
In view of the above, we have chosen banking platforms that will enable our clients make payment for our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.
Flex Printing Press Business Plan – Publicity and Advertising Strategy
We have been able to work with brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to become the number one choice for clients in the whole of the Great Los Angeles area and beyond which is why we have made provisions for effective publicity and advertisement of our flex printing press business.
Below are the platforms we intend to leverage on to promote and advertise Crystal Clear™ Flex Printing Press, Inc.;
- Place adverts on both print (newspapers and magazines) and electronic media platforms
- Sponsor relevant community – based events / programs
- Leverage on the internet and social media platforms like; Instagram, Facebook, LinkedIn. Twitter, YouTube, Google + et al to promote our services
- Install our Bill Boards in strategic locations all around Greater Los Angeles Area – California
- Engage in roadshow from time to time in targeted neighborhoods
- Distribute our fliers and handbills in target areas
- List our flex printing press business in local directories / yellow pages
- Advertise our flex printing press business in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our staff members wear our branded shirts and all our vehicles and trucks are well branded with our company logo et al.
Flex Printing Press Business Plan – Financial Projections and Costing
From our market research and feasibility studies, we were able to come up with the following financial projections as it relates to establishing our own standard and world class flex printing press business in the United States of America;
- Business incorporating fees in the United States of America will cost – $750.
- The budget for Liability insurance, permits and license will cost – $3,500
- Acquiring an office space or warehouse that will accommodate the number of employees for at least 6 months (Re – Construction of the facility inclusive) will cost – $50,000.
- Equipping the office (computers, flex printing machines and equipment used for large board, Digital banner, paper, PVC, mesh fabrics, and foot cloth, Indoor wall paper, ceiling films, etc. servers/internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $25,000
- Amount required to purchase the needed software applications – $ 3,500
- Launching an official Website will cost – $500
- Amount need to pay bills and staff members for at least 2 to 3 months – $25,000
- Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
We will need about one hundred twenty thousand (120,000) U.S. dollars to successfully set up a medium scale but standard flex printing press business in the United States of America.
Generating Funds/Startup Capital for Crystal Clear™ Flex Printing Press, Inc.
Crystal Clear™ Flex Printing Press, Inc. is a family business that will be owned by Mr. Leonard Phil and his immediate family members. They decided to restrict the sourcing of the startup capital for the business to just three major sources.
- Generate part of the startup capital from personal savings and sale of his stocks
- Generate part of the startup capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $50,000 (Personal savings $35,000 and soft loan from family members $15,000) and we are at the final stages of obtaining a loan facility of $70,000 from our bank. All the papers and document have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
FLEX PRINTING PRESS BUSINESS GROWTH: Sustainability and Expansion Strategy
One of our major goals of starting Crystal Clear™ Flex Printing Press, Inc. is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our flex printing services a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.
Crystal Clear™ Flex Printing Press, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken care of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.
We know that if we effectively execute all that is stated above, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Securing a standard office facility plus renovation of the facility: Completed
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the startup capital from the founders: Completed
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of Logo for the business: Completed
- Secure trademark for our products: In Progress
- Printing of Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed flex printing machines: Completed
- Purchase of the needed furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
- Creating Official Website for the business: In Progress
- Creating Awareness for the business: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in the industries: In Progress.