If you’re thinking of starting and growing your own business and have a creative bent,…
This blog is the second in a mini series in which we will highlight different entrepreneurial ideas, all of which will be published here in the Fully Promoted blog. Today, we highlight investing in a screen printing and embroidery business.
The Business of Screen Printing and Embroidery
What exactly are you getting yourself into when you invest in the screen printing and embroidery business? Here’s a look at your potential market and a glimpse into the landscape of the industry.
Take a moment and think about your neighborhood and what you’ve noticed in the past several months. As you get in the car and head out on your daily commute, how many lawn signs do you notice? How many people are out standing on street corners with signs? Probably a good amount, especially if it’s election season which, thanks to different city, state, and federal regulations, is at least once or twice per year.
People, as a whole, enjoy the feeling of being a part of something. It’s not just our emotions we wear on our sleeves — we join clubs, post on social forums, buy branded apparel and decorate our property with the things that matter to us. And it’s that trait that advertisers target: the more you see something, the more familiar and comfortable it becomes. Whatever is advertised becomes part the norm, and you’re more inclined to feel a connection – meaning you’re more inclined to buy a certain product or vote for a candidate.
When you invest in screen printing, you’re investing in our very human nature.
Political campaigns are the biggest customers of screen printing businesses, as they “remain inordinately dependent” on traditional printed material, according to a 2016 industry report conducted by IBISWorld. That’s the goal of every campaign: humanize candidates, make their presence comforting and relatable, and convince you that they’ll do the best job.
Politics aren’t going anywhere, and humans will always crave connection, which provides a positive outlook for this industry.
Politicians aren’t the only ones spending money in the industry, though: Per IBISWorld, screen printing generates approximately $8 billion in revenue every year, and has sustained a 1.8% growth rate annually over the past five years – a number which is projected to hold true through 2021.
Another aspect of this industry is the embroidery business, which goes hand in hand with everything we’ve just described. We weren’t kidding when we said our emotions weren’t the only thing worn on sleeves anymore: Per a separate IBIS World report, embroidery alone generates another $1 billion of revenue annually, and grew at a 5% clip each of the past five years.
Franchise Investment Vs. Starting From Scratch
We covered a few of the biggest perks of franchising in Part 1 of our series, but here’s some quick notes to reiterate why franchising is a better decision than starting a business from scratch:
- You still get to be your own boss
- It’s easier to get financing
- The incredible organizational support you receive makes your job easier and more organized than ever
When you open your own business, there’s more risk, less financial and organizational backing, and larger hurdles to clear that could derail your lifelong dreams before you ever get off the ground.
Expanding Your Screen Printing and Embroidery Business
As both IBISWorld industry reports referenced above point out, the screen printing and embroidery businesses are sometimes standalone services, but most often are just one aspect of an overall promotional products business.
But why don’t more companies have these services as independent businesses? Because customers looking for one of their products typically are in search of other, similar ones. Becoming a one-stop shopping center is simply best for business.
That’s why Fully Promoted is a perfect example: What started as the industry leader in embroidering promotional products grew into a multi-dimensional business that focuses on not only embroidering, but also other promotional products and materials printing, including screen printing, T-shirt printing, and providing digital marketing solutions services.
Convinced yet? If so, contact us today to set an appointment with a franchise consultant and begin your journey toward joining Fully Promoted.