7 Facts You Should Know
If you think the printing business is dying, think again. Although newspaper and magazine publishing has declined, ongoing improvements in digital printing technologies since the 1980s and 1990s have enabled creative entrepreneurs to create dozens of new types of businesses. Here are seven things you should know about how the printing business has been transformed.
1.Many printing firms no longer promote themselves as printing companies.
While printing may be central to their operations, business owners may use terms such as custom fabrication, brand visuals, creative solutions, or omnichannel marketing support to describe the assortment of printing, finishing, and project management services they now offer.
2. It’s not just about print on paper.
Printing is all around you, thanks to advances in digital imaging, print-management software, ink formulations, and digital printing and cutting equipment. Images, graphics, and textures can be printed on almost every conceivable surface – including walls, windows, floors, vehicles, building materials, and 3D objects. Textiles can be digitally decorated to create custom apparel, blinds, linens, and furniture fabrics.
3. Entrepreneurs are transforming the printing business.
Using data-driven printing devices, creative entrepreneurs in the 1990s developed and promoted business models for on-demand, variable-data, or customized printing. Today, millions of packages, labels, or document pages can be customized with different images, graphics, or content.
4. Innovations are continuing.
Digitally printed advertising or signs can boost the success of digital marketing campaigns. And digital printing makes it possible to create branded environments for corporate offices, healthcare facilities, or experiential marketing. The apparel industry can become less wasteful by making it possible to produce garments only in the size, style, color, and design that a customer has ordered.
Some printing companies are incorporating augmented reality (AR) codes and near-field communications (NFC) chips to link to online video content or trigger personalized mobile ad messages to viewers of printed labels, signs, or display graphics. Other printing businesses are digitally adding surface textures to inexpensive wood or vinyl panels to make them look and feel like premium wood-grain floors. Printed apparel can incorporate thin-film printed electronics to add functions such as wellness monitoring, built-in heaters, or microbial protection.
5. Printing can be part of distributed, on-demand manufacturing and fulfillment.
Printing businesses with facilities in different regions of the U.S. are using artificial intelligence (AI) to determine where a product ordered online should be manufactured to minimize total production and shipping costs.
6. Printing can be highly automated.
Over the years, a great deal of artificial intelligence has been developed to control the efficiency with which jobs are ordered, designed, estimated, proofed, scheduled, color-managed, and delivered.
Not every printing business has adopted the same level of automation yet. But software developers and equipment manufacturers have developed ERP and automation software that minimize the need for business owners to hire highly skilled prepress technicians and press operators. Automated equipment is also available for loading and unloading materials, die-cutting and embellishing printed materials, and creating custom-sized shipping boxes.
7. No two printing businesses are alike.
Over the past 30 years printing businesses have adapted to the changing requirements of their customers by adding new types of ancillary services, such as logistics, project management, data management, CAD design of 3D exhibits, online design support, or installation of wallcoverings, signs, and murals. Some companies had added digital signage or 3D printing services. Some printing firms have in-house IT experts that develop proprietary apps and software that helps them gain a competitive edge.
These value-added services increase customer loyalty and make it difficult for first-time customers to judge proposals solely on which company offers the lowest price per print.
Let Us Help You Find the Right Business
Finding a printing business that has the right people, reputation, strategy, and cash can help you achieve your acquisition goals can be tricky.
Because I have been involved in the printing business for more than 45 years, I witnessed the digital transformation of the printing industry firsthand. As an owner of a forward-thinking printing company in the 1980s, I was involved with developing and testing innovative graphics systems and products for 3M. Plus, I networked with many fellow entrepreneurial printing-business owners who are now ready to sell their companies.
If you are considering investing in a strong, well-equipped business with expertise in printing, call me. The printing industry experts at the LaManna Consulting Group can assist you in identifying the potential deals and hot targets.
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