Cost and Benefits of Business Signage
Every major chain that exists today started out as a small business. What these major chains realized early on is that there is great power in high-quality signs and graphics. Signage, along with a successful business plan, helped brand and grow their business. Even McDonald's started out as a one-location burger place, and now there are Golden Arches all over the world. Every business has the potential to be a major player in their community and beyond. It all starts with a great sign.
But, what are the costs? Yes, a sign is a vital component of a business’ success, but many let financing become a stumbling block. How you finance your sign is a business decision that can only be made in view of the overall financial picture of your particular business. But, it should be viewed as an investment.
BUDGET FOR SIGN COSTS
One mistake many business owners make is not including signage cost in their original business plan or start-up budget. However, some loan companies require this and won't issue a loan without it. Signs can usually be included in your small business asset loan; this includes SBA's standard business loans.
If your business is already in existence and you are rebranding, updating or just want a new sign, you can still finance your sign through the usual business lending means. Getting a new sign is an investment in your business, so be sure to make this case when applying.
The cost of a sign can vary greatly depending on the type of sign, materials, jurisdiction and other factors. But, remember, no matter the style or size, whether it’s an exterior monument sign or a back-lit channel-letter sign, it will continue to market the business and attract customers long after it is paid for.
Signs convey a lot. They draw attention, communicate a message, compete with surroundings, and reach a driver whizzing by. Signs are more than an artistic endeavor. They are a necessary marketing tool that work to grow your business 24/7.
Permanent Exterior Signs
Outdoor signage can typically run from $300 tо $10,000 and up. Of course, the more effectively-designed signs, made of high-quality materials, run toward the higher end of the spectrum. The nature of the sign affects costs as well. Large monument signs may incur more expense than a building mounted sign, but you have to factor in the cost of maintenance – that is where you will save money. When deciding on exterior signage, the experts at Forerunner Signs & Graphics can explain specific options and what works best for you. There are a wide array of materials to choose from, but we are here to help. In addition, you will want to include any costs associated with installation when you budget for your exterior signage.
Interior signs can run the gamut. They typically cost less than exterior signs because they do not require the use of materials that can withstand exterior elements. Indoor graphics could start as low as $20, but larger projects could run upward of $1,000. Banners could cost $500 and up depending on the size and design aspects. In addition, your business may require multiple interior signs and multiple styles. Wall graphics, lobby signs, directional signage. The choices can be overwhelming. However, well-designed signs are essential for attracting and maintaining customers and our sign experts can help you make the right choice for your establishment.
If you’re having a special event or promotion, invest in temporary signs. You could spend anywhere from $20 to $500 for seasonal or temporary signs. But, when you want to draw attention to a special business promotion or event, these types of signs are valuable.
Budgeting fоr Business Signs
Start-up businesses, and businesses of all types, have many expenses to consider, but signage is not a place to skimp. Investing in a high-quality sign can and will attract customers. However, a poorly-crafted sign may dissuade potential customers. Therefore, it’s important to remember that a sign is an investment in your business. Again, the main cost is upfront, but it pays for itself by marketing the business 24/7.
Don’t choose saving a little cash over a quality sign
Be careful to not choose savings over quality. If you go with a cheaply made sign, you may end up spending a lot more to fix it when you run into trouble. That’s why you always need to be sure that you’re buying from a trustworthy sign manufacturer. Like you do with any purchase, weigh the costs and benefits of your signage. Ultimately, the cost of a great sign pays for itself through the positive advertising it provides for your business.
If you are in need of business signage, contact the experts at Forerunner Signs & Graphics. From concept, to creation to installation, we're there with you every step of the way!