Hi Mr Tan,
I was wondering if you have heard of the Snap-Print franchise. I am a greenhorn to the world of business and am considering to start my first investment with Snap-Print to learn the ropes of starting a business.
Snap-Print is a printing company that does prints on apparels, digital and offset and large format prints like banners, backdrops, etc. They are offering a franchise for small home business start ups. This is how the franchise works. I will register a company with ARCA. Next, I will source the deals on my own and quote my own price based on negotiations. Snap-Print will offer me a partner price for the printing. The amount I quote to the client minus the partner price given by Snap-Print would be my profit.
Snap-Print is offering the franchise for 9k. They are providing me some support like the relevant product training, sales and marketing techniques and printing business operations. Do you think this opportunity is good for someone like me who is new to business and want to start learning business by doing?
REPLY BY TAN KIN LIAN
I do not know about the business model and the prospects for Snap-Print or the reliability of the franchiser.
I can only give a few words of general advice, before you spend $9,000 in paying the franchise fee.
1. Do not spend money on any business idea that is not clear to you.
2. Some people make money from the franchisee and give a business model that may not work (I am not referring to Snap-Print).
3. It is not easy to start a business - as you have to take care of many issues, such as marketing, finances, recruiting people, collecting debts. Be aware of all these challenges, before you plunge into a business.
4. It is best to help a friend to run an existing business, so that you are aware of the business issues, before you start a business on your own. It is better to be prepared.
5. I have seen many people lost a lot of money on franchises, not only the franchise fee but the follow-on investments. So, do your study carefully first.
I was wondering if you have heard of the Snap-Print franchise. I am a greenhorn to the world of business and am considering to start my first investment with Snap-Print to learn the ropes of starting a business.
Snap-Print is a printing company that does prints on apparels, digital and offset and large format prints like banners, backdrops, etc. They are offering a franchise for small home business start ups. This is how the franchise works. I will register a company with ARCA. Next, I will source the deals on my own and quote my own price based on negotiations. Snap-Print will offer me a partner price for the printing. The amount I quote to the client minus the partner price given by Snap-Print would be my profit.
Snap-Print is offering the franchise for 9k. They are providing me some support like the relevant product training, sales and marketing techniques and printing business operations. Do you think this opportunity is good for someone like me who is new to business and want to start learning business by doing?
REPLY BY TAN KIN LIAN
I do not know about the business model and the prospects for Snap-Print or the reliability of the franchiser.
I can only give a few words of general advice, before you spend $9,000 in paying the franchise fee.
1. Do not spend money on any business idea that is not clear to you.
2. Some people make money from the franchisee and give a business model that may not work (I am not referring to Snap-Print).
3. It is not easy to start a business - as you have to take care of many issues, such as marketing, finances, recruiting people, collecting debts. Be aware of all these challenges, before you plunge into a business.
4. It is best to help a friend to run an existing business, so that you are aware of the business issues, before you start a business on your own. It is better to be prepared.
5. I have seen many people lost a lot of money on franchises, not only the franchise fee but the follow-on investments. So, do your study carefully first.
5 comments:
I was asked if I know Snap-Print. I do not know them, so I like to ask other people who knows them, to share their views about the sustainability of their business.
The printing biz is highly saturated. Only large firms with capital and connections can profit in a big way. The rest survive on razor-thin margins.
The franchisor gets your $9000 up front and that's their business model. Printing money this way is easier than the printing leaflets and brochures. Any print job you bring is icing on the cake. You pay them and give credit to the client. Good luck collecting.
Sorry to throw cold water on a red hot money spinning idea. As they say, fortune favours the daring but discretion is the better part of valour.
Basically, the local franchisee is asking you to pay $9000 for the privilege to be their salesman. The partner price simply means they charge you a price lower than what they quote to a direct client, i.e. there is a discount so you can profit and still give your client a competitive price, and here I am guessing.
Why not simply ask around some print shops and offer to give them jobs on commission? Or with your $9k as capital, you can set up your own printing service, you getting the jobs, then passing to a printer to fulfill the order. You might end up with Snap Print as your supplier if they offer you a good price!
Training? Everything can be learned online. Free videos all over You-tube. Also, once you can bring in some volume, and win his confidence, you can gain access to the factory floor for firsthand observation of how everything works.
About the SG franchisee’s practice, why not check with the Snap Print original franchisor by Googling?
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