The Economic Forecast for these 5 Industries and How They Impact SpeedPro Franchisees

October 18, 2018

The economic outlook for the restaurant, real estate and retail industries is strong. The future looks bright for the home improvement and health provider industries, as well as many others.

This is good news for SpeedPro Imaging franchisees since these industries, and many more, rely on services provided by the digital printing industry. It’s important to note that the forecast for our industry is also positive. It is healthy in 2018 and will continue to thrive in the foreseeable future. It has a track record for growth: Five years ago, in 2013, the digital print market was worth nearly $121 billion; in 2024, it will be worth more than $272 billion.

Here’s what SpeedPro Imaging franchisees can look forward to from these supporting industries:

Restaurant

The restaurant industry continues to grow despite challenges caused by disruption. Some segments of the industry are faring better than others, such as fast-casual concepts, which are expected to grow by 7.5 percent by the end of 2018. Quick-serve concepts are anticipated to grow by 3.5 percent while casual and fine dining restaurants are predicted to grow by 2.7 percent. But, with tax cuts taking effect next year, spending to eat out is expected to increase in 2019.

Restaurant industry growth means demand for a wide variety of signage – window graphics, feather flags, digital menu boards, retractors and table coverings. And, don’t forget about food trucks, which will need vehicle wraps.

Real Estate

Due to demand caused by a tight real estate market and the number of natural disasters that have destroyed homes or displaced people, more housing units are slated to be built – in the area of 6.6 million.

That means developers and real estate agents will be eager to sell these new homes. Large-format printers can expect increased demand for all kinds of outdoor signage, vehicle wraps and window graphics.

Retail

Consumer spending continues to be strong due to a low unemployment rate and rise in discretionary spending, which contributes to a healthy retail environment. That includes in-store sales, which means there’s plenty of demand for point of purchase displays.

Home Improvement

Because the housing market is tight, many current homeowners are choosing to stay put and remodel instead. This is a boon for big box home improvement suppliers, like Lowes and Home Depot. Retailers with showrooms for appliances and fixtures will also need various forms advertising, including in-store displays, to bring customers in, inform them of sales and direct them to the right areas.

Health Providers

Thanks to an aging population, there’s greater demand for health service providers, including hospitals. Hospitals will undergo renovations, which includes adding more than 1 million hospital beds. The cost of health care will also increase, so patients and their families will expect an experience that resembles a hotel stay. That means enhancing indoor décor, which provides an opportunity for large-format printers to supply digital signage, wall murals, elevator wraps, window graphics and more.

Forecast for SpeedPro Imaging: Growth

These are just a few of the vertical industries with a strong economic forecast that will benefit SpeedPro Imaging franchisees for the remainder of 2018 and well into 2019. Combine the growth of these industries with the nature of digital printing – to help other businesses make money with the use of several different applications – and the opportunity for each SpeedPro studio owner to grow their own business is excellent.

Our 2017 gross profit margins are a testament to that. The top performing quartile of franchise studios had gross profit margins of 64.2 percent – significantly more than the typical small business, which see gross profit margins of 25 to 35 percent.

For information about franchising opportunities with SpeedPro Imaging, contact us today.

 

Community Outreach and Giving Back is at the Heart of this SpeedPro Franchisee’s Mission

September 28, 2018

Many aspiring entrepreneurs look to business ownership as a means of maintaining a better work-life balance. SpeedPro franchise partner Pat McGinnis was able to not only find a work-life balance with SpeedPro, he also found ways to use his new business to give back to the community.

How He Got His Start at SpeedPro

Traveling every day for work, Pat McGinnis was essentially unable to see his family during the weekdays. He decided he needed to make a career change when his daughter, who was in seventh grade at the time, confronted him about it.

In 2006, Pat discovered SpeedPro Imaging, and found the franchise opportunity came with a flexible schedule to spend more time with family.

“SpeedPro was a great business opportunity with a strong model and demand – and even more importantly, it allowed me to sell a product I believed in and found interesting,” Pat said. “Obviously, the first year requires a little more time and dedication, but the flexible scheduling allowed me to take time off for my children’s school events and see my family regularly during the week.”

Pat’s wife, Susan, also became involved in the business and worked alongside Pat as a co-owner.

“Working with my wife was great, too, because we are good partners, and I was able to see her even more often,” Pat said.

Now, 13 years later, Pat and Susan’s kids are grown –daughter Megan is 26 and has a family of her own, and son James just turned 22.

“Life has an odd way of working out sometimes,” Pat said. “It was important for me to spend time with my kids when they were growing up, but it’s actually even more important now – particularly with my son.”

A Life-Altering Injury

In 2014, James, then a high school football player, was poised and ready to go to college – until he suffered a traumatic brain injury (TBI) during a game. In the years since his injury, James has made incredible progress but still receives around-the-clock care and regular therapy to regain more motor function.

“Being a business owner is great because during the critical 7.5 months at a rehabilitation hospital I was afforded the ability to take off Mondays and Fridays to go to his therapy and see how it’s going,” Pat said. “My wife primarily works with James today. But, having that flexibility and being able to be there for my family is a tremendous gift that I don’t know I would have if I worked elsewhere.”

Pat and Susan have long been involved in philanthropy, working with organizations whose causes range from juvenile diabetes to leukemia and other chronic illnesses, especially in children.

But, after James’ injury, they realized an even greater need for their work– and they’ve continued to find creative ways to leverage their business to give back, especially when it comes to various brain injury awareness events.

Going the Extra Mile for Charity

Pat, Susan and James often participate in different charity events – whether it involves walking or running races or providing free marketing collateral. Over the years, Pat has offered his services free of charge to different charity runs, including printing large-scale banner announcements and advertisements, as well as directional signs to guide runners along the route.

“When you go to different charity events, you realize you’re the one who’s truly blessed – you forge new friendships and meet people with such strength and determination,” Pat said. “And, there’s really no opportunity as good as the opportunity to spread love and kindness – my son has taught me that.”

“As a small business owner, just be present and let people in your community know you’re out there and ready to help in any way,” he added.

Pat recommends finding causes you’re passionate about or have a personal connection with. Every cause he and his family have worked with has affected them personally.

He suggests working with clients for a common charity cause to deepen these client relationships. It’s also important to plan the timing of the events with your business schedule so they don’t interfere with one another.

“Every year, we try to pick one or two charities to work with,” Pat said. “Sometimes, it can be tough to balance charity work with business, but you just have to find the best strategic times. For example, our busiest times are late spring and early fall, so we’ll try to schedule philanthropy work around those times, and give back during our slightly slower months.”

What They’ve Gotten from Giving Back

Pat says each of his charity experiences has been humbling. And, he and his family have forged new friendships and business relationships through their extensive charity work.

“Working with charities is, I think, one of the best things you can do for your business and for yourself,” Pat said. “Instead of getting caught up in deadlines, it’s important to have some perspective and enjoy the journey. And, everyone is fighting a battle you may or may not know about, so just be kind – in business and in life.”

To learn more about a community-driven, flexible business opportunity that allows you the free time to give back, read about some of the perks of being a SpeedPro studio owner.

What’s Driving the Growth of the Digital Printing Franchise Industry?

September 25, 2018

What do fashion, high-end automobiles and the 2018 and 2020 elections have to do with digital printing?

They are just some of the markets driving demand and growth in the digital printing industry or will do so in the near future. With an increase in disposable income, more people want luxury accessories, jewelry and footwear, which is causing brands to increase their marketing and advertising budgets. Prestige auto-makers and high-end travel companies are hosting co-branded events at convention centers and resorts, which is driving demand for large backdrops, displays and a variety of smaller format print material, such as invitations and programs. And, as partisan elections begin to heat up and become intense, campaigns are expected to order more material for direct mail efforts, vehicle wraps and various types of signage.

The industry is healthy in 2018 and will continue to thrive in the foreseeable future. Consider this: Five years ago, in 2013, the digital print market was worth nearly $121 billion; in 2024, it will be worth more than $272 billion.

The digital printing franchise industry is booming and SpeedPro Imaging provides opportunities for entrepreneurs to enter this highly profitable market. Here’s how:

B2B is Booming

The nature of digital printing is to help other businesses make money with the use of several different applications. The ability to do this will increase as the capabilities of digital printing continue to expand. For example, esthetic options are increasing, which allow businesses to market themselves in many different ways and as vibrantly as they want in order to attract their desired audience.

SpeedPro Imaging franchisees have been doing this since before the recent industry growth and will continue to serve our B2B customers as digital printing evolves. We’ve accomplished this by providing our clients with the products and services they need to succeed, including:

• Various digital and print signage
• Architectural and glass finishes
• Banners
• Backlit graphics
• Boat and watercraft graphics
• Decals
• Dimensional projects
• Wraps for elevators, automobiles and fleets
• Environmental graphics
• Event graphics and tents
• Flags
• Floor graphics
• Point of purchase displays
• Table coverings and tabletoppers
• Tradeshow displays
• Wall murals
• Window graphics

SpeedPro Imaging franchisees have a significant earning potential to tap into with companies dedicating between 8 and 24 percent of their budget on marketing, which includes graphics and large-scale visuals. The high-quality work we perform leads to repeat business. But, because our franchisees develop good working relationships with their customers, we become the go-to and standard for many business’s printing needs.

Supplying with Savings in Mind

Our cost-effective practices also make owning and operating a SpeedPro Imaging studio profitable. Because we have established vendor relationships and significant buying power thanks to our more than 150 studios and counting, we are able to pass along the savings to our franchisees when they need materials. This allows our franchisees to slash operating costs to boost profitability even more.

Big Gross Profit Margins are a Reality

The booming digital print industry, our industry-leading stature and our cost-conscious practices contribute to SpeedPro Imaging franchisees’ high profit margins.

In 2017, our top performing quartile of franchise studios had gross profit margins of 64.2 percent – significantly more than the typical small business, which see gross profit margins of 25 to 35 percent.

For information about franchising opportunities with SpeedPro Imaging, contact us today.

4 Advantages to Owning a B2B Franchise Concept

September 21, 2018

One of the first decisions prospective franchisees need to make is whether to pursue a business-to-business (B2B) or business-to-consumer (B2C) franchise concept. Working with other businesses creates a different environment than consumer-facing franchises, so it is important to carefully consider which option is the best fit for you.

A B2B franchise concept provides several benefits for franchise owners. The advantages of B2B franchises include:

1. Work-Life Balance

With B2B franchises, there is the benefit of typically only having to work while your clients (other businesses) are working, which means many B2B franchises are open Monday-Friday during business hours. This provides a greater amount of freedom for work-life balance than many B2C franchise concepts, such as restaurants or retail.

Because SpeedPro Imaging franchisees provide banners and graphics for special events to businesses, sometimes there are exceptions to the typical work-week schedule. But in general, our franchisees operate their businesses during standard business hours and are able to enjoy a great balance of work and play.

2. Services that are in Demand

B2B franchises offer services that are necessary for their clients. Most business owners understand that it is more cost effective to outsource certain services rather than hire staff in-house. For those companies, B2B businesses provide much-needed support in areas such as marketing, accounting or IT.

It is highly unlikely for a business to have an in-house large-scale printing department for their events and promotions, which is why SpeedPro Imaging clients rely on our services to help their businesses succeed.

3. Larger Transactions and Loyal Customers

A single B2B transaction typically generates more revenue than a single B2C transaction due to the scale of products and services that are sold. Simply put, there is more money to be made on large-scale trade show displays than a sandwich.

In addition, when businesses find a vendor who meets their needs and helps them achieve their goals, they tend to remain a loyal customer. By establishing relationships with clients, B2B franchisees benefit from long-lasting customer loyalty.

4. Helping Other Small Businesses in their Communities Succeed

For many B2B franchisees, even more important than the money to be made is the unique opportunity to help other business owners in their community thrive. By partnering with businesses in their community, franchisees are able to support their local economy and make a difference.

At SpeedPro Imaging, we help our clients get the word out about their business through creative graphic displays. Each banner, trade show display or vehicle wrap that we create helps our clients generate leads, grow their business and accomplish their goals.

Greater work-life balance, in-demand services, large transactions, loyal customers and the ability to make a difference in the community make B2B franchising appealing for many entrepreneurs. With SpeedPro Imaging, franchisees have the added bonus of a B2B franchise concept that fosters creativity and encourages them to think big.

Are you interested in a B2B franchise concept that empowers you to dream big and use your creativity every day? For information about franchising opportunities with SpeedPro Imaging, contact us today.

How Our Pilot Programs Set Franchisees Up for Success

September 18, 2018

With new technological innovations launching every day, it’s an exciting time to be part of the wide-format printing industry. In the midst of all the excitement surrounding new technology, business owners also face the challenge of staying agile and keeping pace with new trends.

Before SpeedPro rolls out products or services system-wide, we conduct pilot programs to test each new potential technology or equipment offering as it emerges. This helps ensure they are viable and can be seamlessly implemented by studio owners.

We’re currently running two pilot programs – one testing interactive touchscreen digital signage and another testing Americans with Disability Act (ADA)-compliant signage. SpeedPro Vendor Relations Manager/Field Consultant, Jodi Olin, explains the importance of running these programs before making any system-wide add-on offerings:

“It’s critical to stay in front of new technology trends, so we’re always looking for new equipment and programs to offer our SpeedPro studio owners,” Jodi said. “From vendor recommendations and trends we see at conferences or trade shows, we’re able to introduce and try out new offerings that will bring a great deal of value to our franchise owners.”

ADA-Compliant Signage

We currently have two studios participating in our ADA-compliant signage pilot program, which includes testing out a new Ultra-Violet ADA printer in different markets. This printer produces textured print items by layering ink and allows for easier navigation and readability for individuals with disabilities – particularly those who are visually-impaired.

This printer can produce durable and ADA-compliant braille signage, as well as textured way-finding signage and exhibit signage for different public buildings. Hotels, zoos, convention centers, schools and universities and government buildings are just a few examples of public areas that need ADA-compliant signage to cater to individuals with physical disabilities. These signs help them not only read and comprehend exhibit signs in public buildings, they’re also important resources to help these individuals safely reach their destination.

“This pilot program has proven extremely successful in just a few months,” said Jodi. “The product is great to market to construction or property management companies, since it provides them a great value-add to offer customers. Instead of having to look elsewhere for compliant, specialty signage, building managers can depend on their construction company to take care of this aspect for them as well.”

Interactive Touchscreen Digital Signage

We also have four studios in different markets testing interactive touchscreens with digital signage, available through CloudTouch. These interactive touchscreens are a significant value-add for our clients that use us for convention and event signage, so we’ve made sure to implement the pilot programs in some of the biggest convention hubs – including New York City, Atlanta and Dallas-Fort-Worth.

“We’ve also seen a lot of success so far with our interactive touchscreen pilot – there’s definitely been a great deal of interest,” Jodi said. “It’s a great product for studio owners with many clients who are event planners or participate in trade shows frequently. We can easily rent out touchscreen digital signage as a value-add on top of the graphics we already print and install for them.”

Interactive touchscreen signage is an easy way for clients to make their booths stand out at trade shows and make an impact on potential leads.

“Since graphics and printing solutions are part of the technology industry, everyone wants the latest and greatest industry developments,” said Jodi. “But, we run these pilot programs to make sure we’re protect our studio owners with their investments. Before we offer them system-wide, we make sure they’re profitable and easy to implement, as well as in line with many of our studio owners’ clientele.”

The Next Step in the Pilot Process

Once a successful pilot program has been completed, Jodi and her team take the offer out to all studio owners within the system and give them the option of investing in the equipment as an add-on.

“Each studio owner can decide if they want to invest in one add-on, both or neither – it really just depends on their preference and if they think they’ll have a lot of demand for the new offerings, based on their existing clients,” said Jodi.

Studio owners are under no obligation to integrate the products or services rolled out through pilot programs. Instead, owners can decide what will generate the strongest return on investment for their businesses.

At the same time, they benefit greatly from having these new options regularly presented to them based on the latest industry trends. That’s something that small business owners don’t have – they need to constantly make sure they’re staying up to date. Conversely, our franchise partners have these new innovations consistently presented to them, and they can see tangible data on ROI, and how they’ve performed at another SpeedPro location.

To learn more about how SpeedPro Imaging is a forward-thinking, innovative franchise brand with cutting-edge technology, visit our website.

The Technology That Fuels Our Wide-format Printing Franchise, Pt. I: All-inclusive Startup Program

August 7, 2018

The print industry has evolved far beyond what many people imagine when they think of printing. This is largely due to advancements in technology, particularly with wide-format printers. In fact, a recent industry report estimates the large-format printer market will reach $10.59 billion by 2023. The rising value of the industry is driven by the dynamic, high-quality output these types of printers create.

SpeedPro continues to introduce more game-changing equipment and programs to empower our franchisees and ensure our brand remains highly competitive. That’s just one reason why we’re constantly looking for new technology and all-inclusive programs to help our studio owners get their business off to the strongest possible start.

This article serves as the first in a series exploring the different ways we keep our franchisees on the cutting edge of technology, enabling them to focus on keeping their business running efficiently:

All-Inclusive Startup Program

With SpeedPro’s all-inclusive startup program, franchisees don’t have to worry about all the details and equipment that can quickly overwhelm new business owners. Instead of researching and price-checking all the latest technology and equipment, we take the guesswork out of the process by doing this for all new franchisees.

Our Home Office team purchases everything – from printers to paperclips – a new studio needs. Not only do we buy all your equipment for you, we also ship it right to your door, so you can get your business up and running as quickly as possible. Here are just a few examples of all the technological equipment we buy and send to you, so you can focus on the business side of your franchise:

  • Large-format printers
  • Cutters
  • Laminators
  • Production tables
  • Computers
  • Furniture
  • Starting inventory
  • Office supplies

Startup Program Add-On: New HP FBFB550 UV Flatbed Printers

In addition to our all-inclusive startup program necessities, we offer different add-ons so franchisees can get an even greater competitive edge. Recently, we’ve introduced HP UV flatbed printers as an add-on for our newly-updated and more robust franchise startup package.

These printers allow our franchisees to keep ahead of the competition, as they’re able to offer customers:

  • High-quality applications
  • Improved high-density photo print modes and high white opacity
  • Tabletop roll holder
  • Multi-image-multi-size capability

In addition to the numerous benefits SpeedPro consumers garner from these printers, they also help out our franchisees from a business standpoint, adding strategic advantages to the already lucrative SpeedPro business model. Here are just a few benefits for studio owners:

  • Increased efficiency – Typical turnaround time for prints are 24-48 hours and can be even faster with the highly-efficient UV Flatbed printer. This large-format printer enables studio owners to load, print and collect media simultaneously, allowing a continuous workflow and saving time and money.
  • Reduced labor and material costs – With the new printers, studio owners can print directly to rigid and flexible substrates. Not only will this cut down on labor costs, it will also eliminate the need for two materials – putting money back in the franchisee’s pockets.
  • Unique product opportunities – Aluminum, glass, mirror and acrylic are just some product possibilities franchisees can advertise to consumers, with the new printing technology.

To learn more about the technology and other competitive advantages that set SpeedPro Imaging apart from other franchise opportunities, get started here.

Leveraging Professional Network Results In Strong Start For This Speedpro Franchisee

July 17, 2018

By maintaining strong, professional connections with the network of people he developed through his previous employers, Mark Simmons quickly grew his SpeedPro Imaging franchise in Apex, North Carolina. He hit the break-even point in the fourth month of ownership and started earning a salary by the eighth month.

The Jump from Retail to Large-Format Printing

Mark spent more than 30 years in retail, beginning as a store manager at a lumber retailer and ending as Regional Vice President for Advance Auto Parts. In between, he held other high-level management positions with Target, Linens N Things and Wegmans Food Markets. In 2015, his position was eliminated and Mark had to decide whether he wanted to stay in retail, which often requires you to move to where the jobs are, or pursue a new career path. With roots established in the Raleigh area and a daughter in high school, Mark chose the latter. He decided to become a business owner.

Intrigued by wide-format printing – car wraps, large wall murals, window graphics and more – and the cool and fun factors involved, Mark pursued the franchise opportunity with SpeedPro Imaging. Plus, being a hands-on operations guy, the owner-operator model appealed to Mark, as did the strong gross margins in the large-format printing industry. Mark opened his SpeedPro in Apex, a suburb of Raleigh, in 2016.

“SpeedPro made the short list,” he said. “The business model was attractive to me. I enjoy the B2B interaction, which I experienced in some of my previous positions. Plus, I felt like SpeedPro offered more work-life balance as opposed to retail, which includes a lot of hours and traveling that caused me to miss a lot of holidays and other important events.”

Tapping Extensive Network for Lucrative Jobs

Mark wanted to start his new career as a SpeedPro Imaging franchise owner strong, so he reached out to people in his professional network that he spent more than 30 years developing. Doing so gave him a significant head start.

“I jumped in with some large companies that I had connections with very early on that has paid dividends for me,” he said. “We started doing work for American Airlines in our first six months of business. That’s been very fruitful for us – we’ve done signage for them in Charlotte and Raleigh, Pittsburgh, Washington D.C., Miami and Tulsa.”

Mark was also able to leverage the relationships he maintained with people at Advance Auto Parts, the national retail company where he had previously worked. SpeedPro of Apex has taken on large projects for that company all over the United States.

Landing repetitive business accounts has helped maintain the momentum. For example, SpeedPro of Apex works with home builders, which require a lot of large-format printing work. At the beginning of July, the printer had 12 projects for 10 neighborhoods with a single builder. With six to eight clients like that, franchisees should do well, Mark said.

“Once you show them how great you are at project management, hitting deadlines and quality of work – there’s really no conversation on price,” he said. “They trust you’re going to do the work, charge a fair price and they don’t worry about it.”

The Right Team Contributes to Strong Growth

When he started, Mark was not up to speed on large-format printing. There was a lot to learn. But, he did have an eye for detail and a vision for the way things are supposed to look. To fill in the gaps, he hired a team of four people with printing experience, including a production manager with a graphic design degree.

In the two years since opening, Mark has also assembled a network of subcontractors for installations. He has purchased a lot of equipment, which has allowed him to bring most of his printing jobs in-house instead of sourcing it out to other SpeedPro locations.

“We can now do 95 percent of our jobs in-house with our own equipment – that’s a good feeling in the first two years,” he said. “SpeedPro is a unique model. You can scale the business without multiple locations. You can scale it with just one.”

To learn more about what sets SpeedPro Imaging apart from other franchise opportunities, visit our website.

Looking For A Creative Outlet? Speedpro Imaging Could Be The Perfect Business For You

June 26, 2018

Seventy percent of Americans are disengaged or unsatisfied at their jobs. Evolving employee attitudes and expectations are to blame for this, according to research by the same Gallup poll.

Most workers, many of whom are millennials, approach a role and company with a highly-defined set of expectations. They want their work to have meaning and purpose, and they want to use their talents and strengths every day. For many creative types seeking a fulfilling career, corporate America just doesn’t cut it.

Here’s why SpeedPro Imaging could be the perfect franchise opportunity and creative outlet for you:

Create Your Own Culture

undefinedCreating your own work environment and company culture is one of the most rewarding parts of being a business owner. Within a franchise system, some entrepreneurs worry they’ll miss out on the opportunity to build a culture they love. But with the right brand, you’ll have all the backing and support you need, without sacrificing your autonomy.

While some franchise brands are more restrictive, SpeedPro allows you to run your business the way you want. There are many common threads among SpeedPro franchisees – they love variety in their day and the fast-paced, collaborative studio environment. But, no two franchisees, markets or studios are exactly alike. So, even though we all share the SpeedPro name, our corporate team won’t encroach on your day-to-day operations.

We provide you all the tools, support and resources you need to take your success to the next level. But, we won’t do so at the cost of your autonomy and flexibility. You can create the environment you want, and run your business exactly how you like.

Use Your Creativity Every Day

undefinedWith SpeedPro, your creativity doesn’t begin and end with designing your studio and creating your culture. You get to flex your creative muscles every day with your design and graphic work.

As a SpeedPro franchisee, you’re not just a printer – you’re a solutions provider. In that way, you’re an extension of every client’s marketing department. You have to work with them to understand their long-term objectives, while finding custom design solutions to help them accomplish those goals. Not only do you have to use your creative vision to make graphics, you also need to find creative solutions to help clients.

Experiment with Experiential Graphics

Each client is different, and each of their objectives and projects are unique. With the growing popularity of experiential graphics, SpeedPro franchisees have been able to get even more creative with their designs. The possibilities for large-scale graphics in experiential design are endless.

SpeedPro Imaging Chicago owner Shira Kollins recently re-created Moe’s Tavern from The Simpsons for a pop-up bar. She even used her business and creativity to custom-build removable wallpaper and dance floor for her own wedding.

undefinedAnother testament to the power of experiential graphics was SpeedPro franchisee Steve Moran-Cassese’s work rebranding Hewlett Packard’s headquarters. Or, SpeedPro’s Mark Simmons showcasing his talents by transforming a plain-looking car dealership showroom into a Polynesian beach-themed landscape.

It’s no surprise that business owners report higher job satisfaction than employees stuck in a corporate machine. Not only do entrepreneurs enjoy the freedom to create whatever work environment they want, they can also center their product or services on their own strengths. And, with the SpeedPro Imaging business opportunity, they get to use their creativity every day.

To learn more about the SpeedPro franchise opportunity, check out what our franchisees have to say.

How Speedpro Imaging Franchise Ownership Provides Entrepreneurs A Healthy Work-life Balance

June 20, 2018

Work-life balance is a top priority for today’s workers. It not only means extra time for family, friends and hobbies, but it actually affects your health. When we get stressed and overwhelmed by work priorities, our immune system suffers—meaning you’re susceptible to getting sick more easily.

Many people turn to business ownership to reap the benefits of work-life balance. Franchise opportunities are a proven way for entrepreneurs to become independent business owners while still receiving support for buying, training, marketing and operations from the franchisor.

SpeedPro Imaging has more than 135 locations already up and running, providing entrepreneurs with confidence that the brand is based on a proven model. New franchisees appreciate the large and growing base of peers and unmatched corporate support. These resources help franchisees, such as David and Cherie Ostermann, grow their business and achieve a healthy work-life balance. They’ve been part of the SpeedPro family for 12 years.

Partners in Life and Business

David and Cherie OstermannCherie worked as a personal trainer and as a sales rep for a magazine. David worked most of his professional life in IT sales and telecommunications. But, in 2001 the IT industry took a hit. After being laid off four times, he knew it was time for a career change, but wasn’t sure where to turn. Although the couple wasn’t looking into franchise ownership, they heard about an opportunity through a friend, who owned a SpeedPro Imaging studio.

David and Cherie became partners with that friend in 2005 and took full ownership in 2010.

“Both Cherie and I had years of sales experience, so it seemed like a good fit,” David said. “We did a 90-day trial and then signed on and became full owners eight years ago.”

They got married shortly before their career change, and their tag-team effort has helped them run the business smoothly and achieve their work-life balance.

“I think since there are two of us and we act as partners in the business, it makes it easier to take time away,” Cherie said. “For example, I’ll work from home to watch our grandkids. Family is so important to us, so that’s a huge plus.”

But it wasn’t always this way. David and Cherie worked hard to build up a great team to support their business.

Teamwork Makes the Dream Work

When they first took ownership, David and Cherie spent the same amount of time doing SpeedPro work as they did doing work at their past jobs. However, since then, they have been able to scale back their time at work and spend more time with family, but not without strategic planning.

“It’s so important to have a great team on your side,” David said. “We made sure to take time hiring the right people who we could trust with our business. We have great general managers and staff. We’re very confident in our staff to keep everything moving smoothly.”

This attention to detail with hiring has allowed the pair to take time off and feed their travel bug.

“By the time we got married, both our children were adults, so we’re empty nesters now,” Cherie said. “We want to take advantage of this time to travel. We’re seeing the world and visiting our kids and grandkids along the way, making memories we’ll never forget.”

David’s son is studying abroad in Florence, Italy, and David and Cherie plan to visit him this summer. While it took hard work in their business, the SpeedPro model has allowed the couple opportunities to enjoy entrepreneurship and their family in harmony.

To learn more about SpeedPro’s model and more about franchisee work-life balance, read about some of the perks of being a SpeedPro studio owner.

Your Path To 65 Percent Gross Profit As A Speedpro Franchisee

June 13, 2018

Few metrics matter more to business owners than gross profit. In spite of strong sales, franchisees that have to absorb steep operational costs are less likely to see the return on their initial investment they expected.

So, understandably, entrepreneurs seeking out new opportunities want to have an idea of their bottom line before investing in a franchise concept. Most small businesses operate within a gross margin of around 25 to 35 percent.

Double those figures, and you’ll arrive at the gross profit margin of the top-performing quartile of SpeedPro franchisees. Yes, you read that correctly. In 2017, the top 25 percent of SpeedPro studios had gross profit margins of 64.2 percent.* Here’s how they’re able to do that:

Industry Leading-Brand in a Growing Industry

The U.S. wide-format printing market is predicted to grow by 4 percent compound annual growth rate (CAGR) from 2017 to 2021, according to a recent study. In other words, the wide-format industry is projected to see impressive returns in the coming years. The market has always had a healthy customer base derived from smaller businesses looking for effective marketing collateral that generates strong ROI, and the market is only expected to grow. Along with the expanding market, the industry is also growing at a rapid pace, and we’re excited to be leading the charge.

Cost-Effective Inventory and Supplies

Through SpeedPro’s partnership with 3M, as well as our vendor relationships, we’re able to offer our franchisees all the necessary materials for their business at a hefty discount. With more than 150 studios in our system, we have substantial buying power. By purchasing materials in bulk, we’re able to provide lower costs for supplies, inventory and any other goods our franchisees will need. With these significantly-reduced rates, franchisees can slash operating costs and, ultimately, enjoy higher profitability.

Strong Sales

SpeedPro franchisees have benefitted from strong sales for years, even before recent industry growth and innovation. With a B2B focus, our franchisees are able to turn a much higher profit than consumer-facing and retail printers. With most companies dedicating anywhere from 8 to 24 percent of their budget on marketing, including graphics and large-scale visuals, this translates into a significant market for our franchisees.

Not only do we produce work on a larger scale, we also get years of loyal customers and repeat business driving sales. Why? Because we’re not just a printing business – we’re a solutions provider. SpeedPro franchisees provide customers with eye-catching, premium graphics, but even more importantly, they tailor each solution to the individual customer’s needs. SpeedPro owners are an extension of each client business’ marketing team.

For more than 20 years, we have been partnering with relationship-oriented, creative and business-minded individuals to bring SpeedPro to markets across the country. When our individual franchisees succeed, our whole brand succeeds – so the impressive profit margins the top-performing SpeedPro franchisees see are just as good for them as they are for us. By driving down inventory costs and positioning franchisees in a profitable, growing segment, we’ve been able to nurture a strong, healthy franchise system – while propelling our brand to become an industry leader.

To learn more about the SpeedPro franchise opportunity, check out what our franchisees have to say.

*These figures are included in the 2018 SpeedPro Franchise Disclosure Document (the “FDD”) and involve the average sales information for the twenty-six SpeedPro Studios that comprise the top 25% (based on their 2017 fiscal year financial performance) of the 107 SpeedPro Studios that have been in operation for at least two years and that satisfied the other reporting criteria set forth in the FDD. Within the top 25%, 14 Studios met or exceeded the average Gross Profit Margin figure. The Gross Margin figurs is based on each franchisee’s actual 2017 fiscal year unaudited financial statements submitted to SP Franchising LLC. Your financial results are likely to differ from the figures presented.