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 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 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
• Backlit graphics
• Boat and watercraft graphics
• Dimensional projects
• Wraps for elevators, automobiles and fleets
• Environmental graphics
• Event graphics and tents
• Floor graphics
• Point of purchase displays
• Table coverings and tabletoppers
• Tradeshow displays
• Wall murals
• Window graphics
SpeedPro 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 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 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, contact us today.