Do you want to know how much money you can make yearly hydro dripping? If YES, here are 7 factors that determine the profit margin for hydro dripping companies.
In order to have an idea of the amount a hydro dipping business is expected to make daily, weekly, monthly, or yearly, you should clearly define the service offerings of a hydro dipping business. A hydro printing shop offers water transfer printing which is also known as immersion printing, water transfer imaging, hydro dipping, water marbling, cubic printing and hydro graphics.
This is a method of applying printed designs to three-dimensional surfaces. The resulting combinations may be considered decorative art or applied art. The hydrographic process can be used on metal, plastic, glass, hard woods, and various other materials.
So, with that in mind, we can estimate what a hydro dipping business that offers the services listed above is expected to make but it is important to point that there is no one mold – fits – all when it comes to how much a hydro dipping business is expected to make.
There are some factors that we are going to look into before giving an estimate of how much an average hydro dipping business can make yearly and these factors are;
Factors That Influence The Amount a Hydro Dipping Business Can Make Yearly
The Size of the Business
One cannot conveniently state the amount a hydro dipping business is expected to make yearly if you do not know the size of the business.
As a matter of fact, you cannot equate a hydro dipping business that is just starting out in business with a well – established hydro dipping business that offers robust services such as a printing process that is used to decorate items that range from entire all-terrain vehicles and car dashboards to small items like bike helmets or other automotive trim.
The Location the Hydro Dipping Business is Covering
We must not rule out the fact that the location the hydro dipping business is covering is a major factor that will determine the amount he or she is expected to earn monthly.
A key factor that can greatly influence the money a hydro dipping business is expected to make is if he chooses to operate in a location where people can afford his or her service. The truth is that you will struggle to make good money as a hydro dipping business if you locate the business in an area filled with low income earners or in a ghetto.
If you locate your hydro dipping business close to a highbrow area or an area with loads of automobile repair garages and automobile owners, bike owners, and craft villages, you are likely going to make good returns from the business.
The Management Style of the Business
Another key factor that will determine the amount a hydro dipping business is expected to make yearly is the management style of the business. Trust me, the results you will get when you are a good manager with eyes for details will definitely be different from what a hydro dipping business with a poor business manager will make.
The idea is that a good hydro dipping business will not just retain their old customers, they will also keep getting new customers especially through recommendations, and that no doubt will greatly influence the amount the business is expected to make annually.
The Business Approach of the Hydro Dipping Business
There are different business approaches that a hydro dipping business can choose from and no doubt it will greatly influence the amount they are expected to make yearly.
Of course, we know that the hydro dipping business may decide that they want to work alone and do their marketing alone, and they can also decide to partner with other businesses that will recommend clients to them. It is easier to find a hydro dipping business that offers robust services to partnering with craft villages, metal works companies, automobile dealerships and garages, and corporate organizations with a pool of cars.
In essence, a well–organized hydro dipping business that works with others will surely make more money than a solo hydro dipping business.
The Advertising and Marketing Strategies Adopted by the Hydro Dipping Business
Another key factor that will determine the amount a hydro dipping business can make yearly is the advertising and marketing strategies adopted by the management of the business.
Trust me, there are several advertising and marketing strategies that can help a business increase their earnings, but you may be expected to spend more. But the results you will make will far outweigh the amount you spent on advertising and marketing.
Of course, you don’t expect a hydro dipping business that engages in aggressive advertising and marketing to make the same amount yearly with a hydro dipping business that is passive with its advertising and marketing.
The Number of Years the Hydro Dipping Shop is in Business
Lastly, another key factor that will determine the amount a hydro dipping business is expected to make on a yearly basis is the number of years the hydro dipping shop is in the industry.
For example, in your first fiscal year (FY1) you might make one hundred and twenty thousand dollars ($120,000), in your second fiscal year (FY2) you might make one hundred and fifty thousand dollars ($150,000) and in your third fiscal year (FY3) you might make two hundred and fifty thousand dollars ($250,000).
In conclusion, most hydrographics shops charge around $75 to $80 per wheel, depending on labor costs and customization.
As a matter of fact, if hydro dipping is part of a wheel painting package, the cost may be higher. In recent times, well–experienced Hydro Graphic Techs are now making $250,000 a year or more. But generally, hydro dipping businesses make between $70,000 and up to $200,000 a year if they operate in major cities.
How Hydro Dipping Shops Make Money
Having said that, now let us consider how hydro dipping shops make money;
Offering Water Transfer Printing Services
Basically, hydro printing shops make money by offering water transfer printing services, this service is also known as immersion printing, water transfer imaging, hydro dipping, water marbling, cubic printing or Hydro graphics. This printing service is used to decorate items that range from entire all-terrain vehicles and car dashboards to small items like bike helmets or other automotive trim.
Hydro printing shops also offer their services to customers who want to design and print on metal, plastic, glass, wood, and various other materials. Most hydro dipping shops charge around $75 to $80 per printing impression.
Sale of Decorative and Applied Art Works
Another means of making money when you run a hydro dipping shop is to produce and sell decorative and applied arts. Interestingly, there is a huge market for creative artworks all across the world.
Some hydro dipping shops employ creative artists that help in producing decorative and applied artworks that are retailed to hotels, offices, and households et al. Although this is not a common service or product offering by hydro dipping shops, but it is gradually becoming a source of generating additional income for the business.