Decision time in life? Should I take a crack at it?

[wilson0404]

Hey All,

I recently found PrintPlanet and check in reguraly to see other threads as I have a real passion for the printing industry.

About me, I'm 31. I'm third generation printer and started in the trade cleaning machines at 15 years old. I finished highschool and started as a helper on a late 70's Roland 800 at 18. I work now as a Pressman/Feeder on a Komori Press in a Union Shop in Canada in the Folding Carton Business. I've attended some workshops at my own cost through GATF and Heidelberg to increase my knowledge in the trade and consider myself very knowledgeble on presses that are not automated. Outside of the printshop I'm a successful entrepeneur with some Rental Properties in my Area. But my passion and what I know is the printing and packaging industry.

It's looks as though the company I work for will replace it's 3 Sheetfed Presses with 2 New 50in or bigger Rolands or KBA's over the next couple years. Because I'm in a Union Shop and most guys have 20 30+ yrs of seniority. I will likely lose my job. It really sucks because most these guy have no work etchic or skill at all. But that's the all mighty Union for ya... Guess I can't complain too much, cause I've been paid very very well to this point.

My question is, Do you beleive a guy could survive today with a Press, DieCutter and Folder/Gluer. And is there anyone that has made a similar leap to this. If so, would you do it again?

My thought train is that I have the passion, heart and the skill and knowledge in the industry. I have a excellent network of friends and family with Printing and Packaging background. I beleive if I press hard, sell off some of my properties and investments. I can likely come up with a half a million in Capital. I will target the Folding Carton industry. And I will be wroking with eighties or ninetys equipment.

What do you guys think?? Printing is what I know and love and I always wanted to be the guy at the top. I really live by the moto, that you only live once.. I'm trying to see this as a new start.

Any help is greatly appreciated. Tell me what you think.

 

[printerpete]

Im Over in the UK so not sure if youd Take much notice of this but, Keep your money in property ITs an Easier Life and its security for the future, any one starting a printing company now Has got to be mad. if you lose your job at least you got money coming in from your properties to keep you going for a bit until you find another job hope this helps

 

[Cornishpastythighs]

I admire your ambition and your love of printing is evident. You are still young enough to recover should your plans not go as expected, If I had half a mill$ would i invest it in some old equipment that would probably be high maintenance and try and compete in the folding carton industry where profit margins have all but vanished, probably not. The union is a double edged sword, the seniority system that protects you one day will protect someone else the next. All those dues you probably paid to your union wont have them out looking for a job for you. I'm in the UK also but the unions are the same all over.
Have you thought about leasing some newer equipment. Good luck.

 

[Muddy]

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[LoneGoose]

wilson0404, if you eventually take the plunge, best of luck! But I must echo Cornish's sentiments in that if you have guaranteed income coming in from your rental properties, why sacrifice that to invest in an increasingly volatile industry? In an ideal scenario, couldn't you use your investments as surety against a loan who's repayments you could match with your rental income?

 

[Deleted member 16349]

My thought train is that I have the passion, heart and the skill and knowledge in the industry. I have a excellent network of friends and family with Printing and Packaging background. I beleive if I press hard, sell off some of my properties and investments. I can likely come up with a half a million in Capital. I will target the Folding Carton industry. And I will be wroking with eighties or ninetys equipment.

Any help is greatly appreciated. Tell me what you think.

Hi Wilson,

If you are crazy enough to do this, I might be able to help you get an old press to print with consistent density control in a very low cost way.

I am in Toronto.

Erik

 

[WiseGuy]

Wilson,
Being at the "top" means your best skill has to be at selling not running the press. If I were you, I would focus on that part first. See if you can build clients. Work as an independent print broker, cut a deal or two with local printers who have the press and need the work to get trade pricing and see if you can build clientele. Then your answer will be clear. If you can build up the clients and the work (without owning the press) then taking the plunge into your own shop will be obvious. Why buy the cow right now when there are dozens out there who will sell you the milk cheap right now?

A strategy to consider.

 

[DrummondAW]

It would be very unwise to start your own business at this time. Think of it this way: You sell your properties, netting you $500K. You may not know this now, but that is not a lot of money to get a printing business going - especially if you want quality work. So, you have your press, die cutter, and folder/gluer. However, have you considered where you will get your plates from? Who will run the press while you're out selling? Who will answer the phones while you're out selling and your pressman is running the machine? Who will be running the feeder in the back while the pressman watches register/color? I could keep going on and on, but I think you get the point. Right now you're in a position where you could lose your job. Do not risk everything you have when you can afford to find a new job and let your properties increase in value. If worst comes to worst, you can always sell a property to keep yourself afloat. Best of luck.

 

[wilson0404]

Thanks for the input guys...

 

[RNRPRINTINGNMAILING]

I am reading all the remarks, and I am amazed.
If you want to start your business do it.
As far as a sales person, I bet there are a lot of them who are looking for a situation likes yours.
They dont have to fight for press time or getting the product done late.
And as far as getting materials, well guess what vendors are looking for new shops to help grow.
If you grow and they get more business from you.
I started my business with $1000.00. my shop is not to big it is 2500 square feet. I have been open for almost 6 years and I am doing almost $33,000 per month. Cause I had a dream just like you.
Once again your passion and your heart is what drives you. If you have contacts than you have won half the battle

So good luck