1. Research Your Niche and Competitors: Learn all you can about your competitors and the market for custom framing services in your area. Analyze their prices, products, services, and marketing strategies. This will help you determine where you fit in the local market.
2. Obtain Necessary Licenses and Permits: Contact your local business licensing office to determine what licenses and permits you will need to start a picture framing business, such as a general business license or contractor’s license.
3. Create a Business Plan: Outline your financial goals, pricing strategy, and marketing plan for your business.
4. Purchase Supplies: Invest in the picture framing supplies and equipment you need to start a custom framing service, such as matboards, frames, glass cutters, saws, and mount cutters. Ask local suppliers if they offer discounts or special rates for new businesses.
5. Create a Website and Brand: Develop a website and brand identity that represents your business. Consider including information about yourself, the services you offer, and examples of your work.
6. Determine Your Pricing: Estimate how much it will cost to produce each picture frame and mark-up accordingly. Set prices that are competitive with other companies in the area while still allowing you to make a profit.
7. Market Your Business: Reach out to potential customers with targeted marketing campaigns and promotions. Focus on print, radio, and online advertising that targets designers and homeowners.
8. Expand Your Services: Once your business is established, consider adding additional services such as restoration or conservation of artwork, custom framing, or corporate framing services.
9. Track Your Progress: Monitor your sales and operations to ensure that your business is successful. Invest in accounting software to help automate some of the data tracking and reporting process.
10. Stay Updated on Industry Trends: Follow industry news and trends so you can stay ahead of the competition and continually improve your services. Attend industry conferences or enroll in online classes to stay abreast of the latest developments.