Posted by Roland DGA on 6/29/2011 to Documents
Let’s cut to the chase. Whether you’re starting out on your own, or adding an engraving service to your business, it is going to cost you, and you are only going to do it if you can see it is going to make you money.
There are two ways in which adding engraving to your business will increase your profits and increase your customer base:
1. By increasing your services to existing customers.
2. By diversifying your markets.
In order to explore the potential of these two areas, it is important to understand the different categories of engraving:
- General signs
- Industrial engraving
- Corporate gifts/awards
General signs include architectural signs, information panels, slat systems and brass plaques. Industrial engraving is the production of labels or panels attached to machinery and equipment, such as product ID labels and control panels. Corporate gifts/awards is a growing industry and the profit potential is large due to the fact that you make money on both providing and engraving the item.