Overhead is one aspect of running a business that might take entrepreneurs by surprise. Those small and large costs that aren’t directly related to production can add up over the course of a month. Over time, they can eat away at your profits! Keeping overhead low is something many business owners strive for.
At SpeedPro, you don’t have to try hard—our business model is designed with low overhead to begin with! The average SpeedPro studio maintains a 66 percent profit margin thanks, in part, to the ways SpeedPro saves our owners money.
Here are some of the key ways you’ll keep your overhead low while operating a SpeedPro studio.
SpeedPro’s operations are best described as a “lean machine.” It doesn’t take a large crew of people to make your studio run efficiently. To open your doors, you only need one-to-two employees. As your business grows, you have the option of hiring more staff if needed.
Maintaining a small staff has a number of benefits—most importantly, your business gets to keep overhead low. You won’t be responsible for the salaries and benefits packages for tens of employees, so your month-over-month costs remain manageable and predictable.
The typical SpeedPro studio itself also helps reduce overhead for our owners. You don’t need a massive warehouse, a commercial building full of offices, or a fancy storefront. Instead, your studio will be a modest 2,000 to 4,000 square feet. You’d be surprised at how efficiently you can run your business with such a small footprint!
Lean studio space requirements save SpeedPro owners in multiple ways. The initial cost of studio investment and buildout is lower, since less space is needed and the time to develop is shorter. Ongoing utilities and maintenance costs will also naturally be lower than they would be in a larger space. Both of these mean long-term savings for SpeedPro franchisees.
Most SpeedPro studios serve B2B customers in their communities. This local network approach reduces overhead costs in a few different ways. First, there’s no high costs associated with warehousing, packing and shipping completed products. Deliveries and installations are often made locally via company vehicle.
Second, there’s no need for expensive travel costs associated with the business. Because you’re meeting with customers in your area, you won’t have to pay for regular airfare, hotels and other expenses—just the cost of getting to and from local meetings and events.
Marketing and advertising support
Marketing and advertising costs are a few of the sneakier costs that get tacked onto a company’s overhead. While no business can eliminate the costs of marketing entirely, they can be reduced.
At SpeedPro, our home office offers owners a range of support services, including marketing assistance. What’s more, SpeedPro owners benefit from the established brand recognition and positive reputation in the industry. Combined, these things allow owners to spend more time conducting face-to-face networking within their communities and spend less money on marketing and advertising.
Take advantage of SpeedPro’s small footprint
As a whole, SpeedPro gives entrepreneurs the opportunity to invest in a business that’s relatively affordable upfront and on an ongoing basis. When it comes to overhead, our business model is designed in a way that keeps costs low and profit margins high.
Interested in learning more about the benefits of the large-format printing industry? A SpeedPro franchise consultant is ready to help! Fill out our contact form online to get in touch and begin the discovery process.