When it comes to budgeting, even for signage, there are no hard and fast rules. Start-up costs will vary depending on the type of business you start and where the business is going to be located. If you plan to open a retail storefront in a major upscale mall your start-up costs could be upwards of $50,000, while a locating the same business in a local strip mall could cut those costs in half. A general rule of thumb is that your signage budget should be around 10% of the amount allocated to start-up cost. And, if you are entering a business where there will be lots of competitors in close proximity, you may need to invest even more by using your marketing and signage budget to skillfully differentiate yourself from your competition.
A stand alone business that does not require heavy foot traffic can be located in a commercial or light industrial space. This will generally result in lower operating and start-up costs when compared to a retail space, however, advertising and marketing dollars will need to be used to stimulate business activity. It will also require your signage and other business identifiers be used in ways that will help your customers to readily identify and find you, especially if your location is somewhat obscure. Not only will the content of the signs be important, but so will placement.
If you are planning to open a business give SignWorks a call at (510) 357-2000 and we will help you to develop a sign strategy and budget that wonât break the bank!