All of us have visited xerox and printing shops and spent time waiting for our turn. These xerox shop guys are always busy! Many people don't see this particular business idea as solid, but the real scene is different.
If you start a xerox business and start offering a few extra services like bookbinding, lamination, etc., if you're located near a school, college, or business centre, you can easily gross ₹2000 - ₹3000 daily!
Most importantly, you need just a small space, a couple of xerox machines and a very small investment to begin this business. Less working capital cost means less pressure to face as a new business owner.
Today, we'll explain the vitals of the xerox shop business plan, the risks involved, documentation and much more.
Did You Know?
The global printing industry is expected to hit around ₹6225 crores by 2022.
The following section explains the vast business opportunities you will receive in a xerox shop.
Business Opportunities in Xerox Shop
Establishing a business can be an exciting venture, but it is risky, especially when the field you pick isn't a good fit to grow. There is an immense possibility of growth and success with a xerox shop.
There are numerous instances where the smallest and simplest xerox stores grew into larger businesses. Despite the technological advancements around us, there have been important improvements in xerox technology, and a xerox shop is still relevant today. If you find the right location for your shop, go all in!
Registration and Licensing Requirements for a Xerox Shop
It is crucial to register your company similar to any other business, whether in a sole proprietorship or LLC. It is essential to obtain stationery shop business licences (for example, Shop and Establishment Act licence) and trade registrations.
If you intend to market computer-related software, you must obtain veteran essential licences. You must be able to apply the appropriate TAN and PAN and register for appropriate taxes like GST, VAT, etc. You should seek legal advice to complete these forms because India's bureaucratic system does not usually run seamlessly.
Also Read: How to Start Mobile Cover Printing Business
What Is the Best Location for a Photocopy Business?
Indeed, the first step you should take before setting up your photocopy shop is to search for the ideal site. As we've seen earlier, most xerox shops are located near educational institutions. The other areas you'll discover a variety of these shops are residential zones, tuition centres, near courthouses, commercial spots, etc.
The location of your business is a major aspect of your company's growth. When you are looking for the ideal location to establish your xerox business, take into consideration these aspects:
- Pick a spot near two or more high-demand areas
- In areas with high-traffic
- Make sure that your shop is visible to the public
- In the areas where demand for services and goods is high
Finding the right location is only half the battle.
How Do You Scale the Size of Your Photocopy Business?
Once you've set up your xerox shop, The next step is to expand it. There are numerous methods to accomplish this:
- Extend your services.
- You might consider franchising your xerox store.
- Include notary services if customers who live in your area demand them frequently.
- Expand your business.
- Get a deal with a courier service. The services of couriers are now being added to the company's offerings.
- Include the sale of stationery products. The majority of customers who come to your store will inadvertently need some stationery products.
- Include lamination services.
In addition to purchasing a good space and shop, the second most important requirement to run your company is equipment. Although you could do decently with the basic printer and xerox machine, having the latest equipment helps ensure you're keeping up with the day's needs.
You can choose photocopiers that can offer you between 40-50 copies in a minute. If you don't want to purchase these advanced machines, you can lease or rent them at a lower cost. Leasing/renting may decrease your margins, but you will still earn well. It might be a good idea to purchase second-hand equipment when you're short on budget.
At present, a xerox shop typically also provides printing services. It is suggested that you avail the services in your store as well. You'll require an operating system with the basics such as Excel, Powerpoint, Corel Draw, Microsoft Word, Photoshop and a high-speed internet connection.
Other pieces of equipment you'll need are printing paper in various sizes (A2, A3, A3 and A5), spiral binding devices, lamination machines, photo paper, staplers, etc. Beyond these items of equipment and tools, you must also be technologically proficient and be aware of how pages are aligned and how to carry out the printing process.
Keep in mind every customer has different needs that may be extremely specific. If you compromise on buying proper equipment, speeding up the business will be tough. Instead, you can look at the types of loans available and choose a suitable for your printing business to buy machinery without any compromisation.
In addition to the equipment, you'll need to spend money in a few other instances to start your xerox store. They include:
- Rent of your xerox shop: You'll need money to cover the EMI/rent. Based on whether you've rented/purchased your shop, you'll need money to cover the EMI/rent.
- Payroll costs for employees: This is a recurring expense, but you should keep some cash aside to pay employee salaries. If you're just starting, you will need 1-2 employees to be sufficient to run your business. As you grow, it will be necessary to pay more employees salaries. However, most of it will come from your earnings.
- Electricity bills: To power all of your equipment and machines, save some cash from your budget for the electric bill. The cost could vary, but it is significant because the entire photocopy business and shop depend on electricity.
- Wifi: The majority of xerox stores are equipped with wifi, which gives you access to emails to print documents shared with customers. The wifi service is a monthly cost, and it's an excellent investment from the beginning. You can grab a cost-effective router.
Compared to other companies, investing in a xerox store is less, and it can quickly generate huge profits. It is the reason it's a highly appealing business to get into. You can cut the cost of paper and other stationery items by finding the most suitable distributors.
A xerox shop startup demands lower investment than others. You don't need to push too hard in xerox shop advertisements. Having the shop at the right location and all necessary supplies proves to be more than enough to generate daily profits. Switching to online payments can bring you more revenue.
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