Franchise sign shops continue to drive sign-industry growth, according to consultant Web Consulting Inc. The sign franchise segment grew by nearly 4% in 2003, accounting for total sales of more than $740 million, and is the fastest-growing buying segment of the sign industry. Web Consulting projects similar growth in 2004, resulting in total retail sales of $770 million.
“This growth did not come at the expense of any one segment, but was instead fueled by the cannibalization of all other signage market segments”?vinyl, commercial, and electric,” says Lisa Onesto, senior consultant. “This trend by the franchise segment”?a very slow cannibalization of other markets”?is expected to continue.”
The sign industry in total achieved an 0.6% growth in 2003, says Web Consulting, reaching a sales total of nearly $9.3 billion. For 2004, the consulting group projects total industry growth to remain modest but slightly stronger than 2003 at 1.5%.
“The sign market continues to meet increased competition from digital printing occurring in other market segments,” says Onesto. “This is not an uncommon phenomenon, as we've seen it in other industries”?. More and more market segments such as digital printers, photo labs, and reprographic houses are moving outside their historical applications or customer base and into signage, graphics, and banners. Now, not only is a sign shop competing with other sign shops, but also with other outside, nontraditional segments.” (Web Consulting, www.web-na.com)
Interior Décor and Textile Printing: What Equipment Do You Need?
The First Installment of the new Interior Décor and Textiles Webinar Series, Bridging the Gap Between Commercial Peel-and-Stick Wall Graphics & Professional Home Décor, focuses on the technology used for these applications. Our expert panel of speakers cover topics such as what equipment to purchase, what to look for when purchasing, and the various applications you can offer with the equipment you currently have. Watch the first episode, sponsored by TVF, above.
Propelled Brands Appoints New President of FASTSIGNS International
EFI Names New CEO, Separates Fiery into Independent Business
Nazdar Hands Inkjet Field Specialist Role to Franco Cherfils
Screaming Images, Olympus Group Report a Successful Merger
24 Ways to Create Your Own Luck in the Print Business
3 Ground Graphics That Will Leave You Completely Floored
Brain Squad1 week ago
This Pop Quiz Will Tell You If You’re Working Too Hard as a Business Owner
Editor's Note1 week ago
Brainstorm1 week ago
Use the “37% Rule” the Next Time You Need to Hire Someone
Case Studies1 week ago
Underground Mexican Restaurant Draws Diners with Outdoor Wall Graphic
Press Releases2 weeks ago
FESPA Announces 2023 Events Calendar
Headlines2 weeks ago
Registration Now Open for ISA International Sign Expo 2023
Headlines2 weeks ago
Drytac Appoints Northeast Territory Manager
News1 week ago
ISA Names Elite Class of 2023