Store Business
2009
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Store Business
The Copy Store Business and It's Opportunities
Combine a great location with walk by traffic, with quality equipment and a friendly staff for a successful copy shop. This combination makes for a profitable copy shop that can be bought or started from scratch. In either case, location is very important to the cash flow of the business. Many people need to make copies for all sorts of reasons. They will come to a store that is an easy drive and the store must have reasonable prices and solid equipment. These customers can be individuals or business people. It does not matter, as they both need good copies of an image or a text document. These new color copiers have increased the possibilities for customers to use your shop. The new copiers have also reduced the price of full color copies.
Buy or start a store
This is one of the many decisions a new owner must come to grips with early in the process of acquiring a store. There are pluses and minuses to either way of becoming an owner. One of the quick ways to gain knowledge is to contact a business broker. He will know stores that are for sale and he will also be able to give you an idea of what it will cost to buy an existing store. The advantage to buying an operating store is they have developed a clientele, which brings in cash flow. Immediate cash flow is a consideration for buying an existing store. The possible negative of this deal is the price you will need to pay to get the business. Most existing businesses will sell for more than starting one from scratch.
Another item or suggestion in this case is the age of the equipment and its condition. Modern copiers are very efficient and turn out superior copies. The new color copiers give fantastic color copies that are brilliant in color and appearance. If an existing store does not have one, you will need to get one immediately to draw in the traffic.
One other advantage of an existing store is you may get some help from the current owner in the financing. The old owner may be willing to take back some paper to make the deal.
Starting a store from scratch may cost less in upfront money, but the owner will have to spend money to let the public know of the store is now open for business. It the location is in a high traffic strip mall or center, the advertising may not have to be as extensive. Good signage is critical and will cost some very real money. Attracting businesses around your store is another way to make the store grow.
Business copies, collating, reports and faxing
Get businesses around you to use your multi-copy service to improve the your way to make money. Multi-page documents will need to be copied and collated for the customer. Some businesses will want these reports to be bound with the spiral binding. All of these processes can be charged for and will add to the overall profit of the business. Make sure that all of the customers that come into the shop know all of the services that you offer. You never know what they may need or whom they know. A simple services card is all that is needed to inform the customers.
Faxing documents is another high profit service. Few private individuals are set up to fax documents. Some businesses sometimes will need this service for various reasons. Their machine is being serviced. They need to send an extended message or they just do not fax very often. Whatever the case, the cost of faxing is small and the profit is substantial per fax job. Individuals will need to have something copied and then faxed. This makes the job per person even more profitable. Building up the business customers will make the store a high return on jobs and the individuals will come when they need something done or they will refer their friends if they are well treated. The secret to this business is the repeat customer that comes back as needed.
Mailing service or package service
Both of these businesses fit well into the copy store business. Take a hint from the franchise operations that are doing the same thing as you can. All you need to do is get set up to handle this extra service. Some businesses can get by with some part time help at certain times of the day or night. Others may find they need full time help. Every service that is offered has the chance to add customers for other services that are offered. The customer is in the store and will take advantage of the convenience.
Conclusions
Almost every adult is a possible customer for a copy store. Individual customers and businesses will all find times they are in need of using most of the services offered above. Since there is a universal need for these services, this means that either type of customer will visit a well-located store during the business day
Bindery and collating are not usual office practices unless the business needs this done all of the time. Most businesses will out source these jobs to a professional service. Large copy jobs are sent out just to get them done faster and more efficiently. If there are a number of pages per document set, this means collating also and this is done faster and more accurately by the correct equipment. When printing is needed on both sides of the document, a copy shop with the right copiers can do this job with ease.
All of the mentioned services are found in many franchises and they could be duplicated by a non-franchise store. Profitability is not in the name alone, but in the location and individual services the store can offer to the customers. Friendly and helpful staff is very important in this business. Not all customers know how to run the machines and may need help.
About the Author
Bill Henthorn formerly was principal broker and owner of a resort / commercial real estate brokerage in Honolulu which specialized in representing sellers in transactions up to $50MM.He currently serves as the marketing director of http://www.acquireo.com
Can a store deny business to a customer without a reason in DC?
For example, let's say a convenience store doesn't want to sell their items to a customer. Do they need a reason? Or can do they have the right to deny business to anyone? And then can the customer report the store to some authorities? Is there a website that explains this?
The store owner has the right to refuse any sale or refuse entery to any person. It is their store. People caught shoplifting are often banned for the premises.
However, refusing a customer based on race, creed, sexual orientation, etc, will result in boycotts, protests and a bad name in the community. It is never a good policy to upset people and you want to make the sale. If their money is good, treat the customer with respect.
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