A valuable research paper offers sign industry entrepreneurs site selection criteria that benchmarks success rates attributable to specific site criteria. This information has never before been available to sign shop owners and new entrepreneurs. “It’s a game changer,” says Teresa M. Young, President of Sign Biz, Inc., a sign industry business developer with nearly 200 non-franchised member shops worldwide.
Part of a series, “Brilliant at the Basics”
A White Paper on Sign Shop Site Demographics
It has long been stated that “location, location, location” is vital to the success of many – if not most – businesses. This is equally true for a professional sign shop that is newly established or in early growth phases, in particular, for those that offer digital print and cut vinyl products as a mainstay.
This white paper will identify the primary factors which drive the most successful start-ups and growing sign companies as defined above. While substantial documentation and research supports these findings, this is by no means an exhaustive analysis of every factor that contributes to the model for a viable and successful sign manufacturer.
The Sign Biz, Inc. independent research and advisory body provides research on a range of economic, demographic and environmental issues affecting the welfare of entrepreneurs, in particular those in the sign industry. Its role, expressed most simply, is to help business owners and future entrepreneurs make better decisions, in the long-term interest of the sign industry.
To this end, we are sharing some proprietary information that has fostered above-average growth and revenues of the Sign Biz Network, a chain of sign companies established with the benefit of Sign Biz, Inc.’s intellectual property. The benchmark study which launched later research and refinements to the data is a project initiated with the Direct Marketing Agency at a cost to Sign Biz of over $100,000.
Why are we sharing some of this research? Because it is clear that too many entrepreneurs are opening sign shops in locations very unfavorable to the business, and as a consequence, are suffering unnecessarily. In some cases, this site selection mistake was due simply to lack of knowledge. In other cases, unscrupulous business opportunity providers have encouraged the entrepreneur to start up their business in an industrial location. This led to the demise of 35 businesses within a three-year period, and still the misinformation persists. We are here to set the record straight with sound market research and survey results. No entrepreneur should fall victim to poor site selection.
We are here to make a difference. The following findings are based on a national business survey and business cases studies assessing the impact of location on sign shop performance.
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