Whether you are dreaming about starting a label printing business or thinking of starting any other creative small business, getting your business off the ground can be a challenge. Many entrepreneurs leap right into their great idea without taking the time to consider the numerous steps involved in starting and growing a business. To help you get your dream off the ground, we’ve put together a list of essential steps to take when starting a small business.
A Simple Guide to Starting a Small Business
From getting your business plan drafted and finalised all the way to investing in the right equipment, there are many steps to starting a small business. In this guide, we share some of the most important steps to take along the way.
Step 1: Finalising your business plan
First things first, you need to begin with a solid business plan. This is important, whatever type of business you plan to start. Even the smallest vinyl cutting business will need a comprehensive plan that outlines how you will start, finance and run the business. Business plans will be required at many points along the way, acting as a way to assure potential stakeholders, landlords, investors and partners that your business has been thoroughly considered at every point.
Step 2: Choosing the right financing
Financing is the next step. This is where your business plan comes in, with a clear breakdown of your financing needs, from premises to employees, equipment, marketing and every other cost involved in the running of your business. Working out a budget that is right for your type of business is important. For example, for around R50 000, you could start a simple signage and vinyl cutting business. For R200 000, you could start a small label printing business and for R500 000, you could start fully fledged signage business. Once you have a budget set, you can then approach banks for loans or consider other ways to finance your business.
Step 3: Finding the right location
The right location is equally important. This will ultimately depend on a number of factors. If your business will be doing large scale printing, you may require a great deal more space than you would if you were doing label printing. You may find that a central location with high foot traffic would be better for this type of business, while a larger scale business may be better suited to an industrial area.
Step 4: Investing in your equipment
No business can succeed with sub-par equipment. For example, if you are planning a printing business, you could consider a big printer model such as the Roland VG640 (price starting at R300,000 or a small printer such as the Roland SP300i (price starting at R130,000). For a vinyl cutting business, you could look at a model such as the Roland GS-24 (price starting at R24,000). Prices vary and exclude set up costs, so you would need to factor these setup costs into your plan as well.
Step 5: Getting the right support
Finally, another important step is to get the right support. That means investing in a team of competent employees – sales staff, customer care staff and managers as well as specialists who are equipped to handle specific tasks such as small or large format printing, for example. With the right people, the right equipment and the right location, you will have the best start for your business.
If you are looking for a wide range of top quality printing products in Durban, contact Digizoo today. We offer all the printing equipment your small business needs to thrive.