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Wherever a Color Goes it Should Stay that Color
By Michael Farkas - Monday June 10, 2013
Color management is the controlled conversion from one color standard to another and between various devices such as monitors, proofing systems and print presses. Its primary goal is to obtain a visual close match across any output medium, and to meet expectations established when the image was initially approved. And this is where color management often fails, and which subsequently requires additional correction cycles. In fact, the click on a camera is the first step of color management and, far too often, underestimated. The initial approval after an image was taken is by far the most important part of media production. If taken seriously, it can make further correction rounds unnecessary. Insufficient contrast range as well as... -
Europe's Supply Chain Participants in the Self-adhesive Label Industry
By Kurt Walker - Monday June 10, 2013
The self-adhesive label industry is more ‘together’ then ever now that the national label associations, their members and FINAT are working together as a coherent group through the establishment of the empowered and active National Associations Board (NAB). FINAT’s role as an ‘umbrella organisation’, bringing together Europe’s supply chain participants in the self-adhesive label industry, would hardly be possible without the network of national label associations that represent the industry at a regional and local level: DLA, Denmark; UNFEA, France; VskE, Germany; GIPEA, Italy; ANFEC, Spain; GFF, Sweden; ESD, Turkey; and BPIF Labels and BSRLA, UK. To benefit the continuation and expansion of sound, profitable and authoritative... -
Printers Must Be Optimists
By Tom Crouser - Tuesday May 28, 2013
No, I don’t mean we have to be optimists to flourish. I mean that a lot of us must be optimists because we don’t change, yet we expect things to get better. Here’s a recent example. A small shop in the Midwest has sales of $250,000 this year, which is down from $300,000 in 2010. The owner is taking compensation of only $15,000 per year, while a federal minimum wage full-time job would pay him $14,790 ($7.25 hour). Problem is, while he’s “taking” $15,000, he’s putting it right back because he’s losing $35,000 overall. Said another way, if he took no wages he’d be losing $20,000. Doesn’t sound very optimistic, but I swear he’s an optimist. That’s because he’s stuck in two-color offset. He has an office... -
Strategic Acquirers Open Up Financials for Sellers
By John Hyde - Tuesday May 21, 2013Could you imagine buying a house and the seller asks to review your financial analysis showing how much money you’re going to make from the investment? Residential real estate practice would consider this an absurd request, instantly denied. The buyer is paying the agreed-upon price in full with cash at closing and the seller has no reason to pry into the buyer’s affairs. But in the crazy world of strategic M&A among privately-owned print, mail and graphics communications companies, seller due diligence into the buyer is hardly an exception. In fact, right now the NAPL M&A advisory team is handling three client matters each of which involves full disclosure by the buyer of the analysis that supports the transaction. One involves a $20... -
3D Printing Will Have No Effect on Business Valuations for the 28,000 Companies in the Print, Mail and Graphics Communications Industry
By John Hyde - Monday May 6, 2013
3D Printing will have no effect on business valuations of print, mail, and graphics communications companies—for the foreseeable future. Simply, owners and senior managers of privately-owned print providers will need to look elsewhere than 3D Printing for growth. This technology may someday be relevant and perhaps even “disruptive,” but today it has zero relevance to the 28,000 or so companies in the domestic USA that operate within the $80 billion printing industry. A recent visit to the Inside 3D Printing Conference and Expo at New York’s Jacob Javitz Convention Center served as my foray into 3D Printing. The word “3D” next to the word “Printing” sparked my interest, knowing that my clients among privately-owned... -
Don't Panic Over New Competitor
By Tom Crouser - Wednesday April 24, 2013
When Kaufmann’s department store opened in the Town Center Mall in my hometown, the Diamond department store closed its doors. The Diamond’s management (Federated Department Stores) had fought the mall and other changes to retail (they fought for the blue laws keeping stores closed on Sunday, for instance). But practically to the day that Kaufmann’s (now Macy’s) opened, they closed. I was reminded of that when a printer friend in Boston panicked at the threat of competition and felt compelled to sell. I said, “Not so fast.” Here’s what Barney wrote: “A 20-year-old promotional products company is moving their location to about three miles away from me and wants to buy me out so they can go into printing. They don’t have... -
3 Lessons Learned from Succession Plan at Kingery Corporation
By John Hyde - Monday April 22, 2013The recent NAPL News Talk Live program on Exit Strategy had an M&A-orientation because “sale of business” has overtaken “gifting to children” as the roadmap of choice in the print, mail and graphics communications industry. The one panelist on the webinar who implemented a non- M&A succession plan is John Kingery, Chairman of Kingery Printing Corporation. Succession planning was the farthest thing from John Kingery’s mind until a day in 1991 when he realized that the government would end up with substantial wealth that otherwise would go to his family. Simply, Kingery Printing had become too profitable to risk passing away without a plan for minimizing estate taxes. The roots of Kingery Printing can be traced to a... -
3 Ways to Get a Better Night's Sleep
By John Hyde - Friday April 5, 2013
If you own a company in the printing, mail, and graphics communications industry, you probably know someone who is near the end of survivability or you’re treading water yourself these days. If neither of these apply to you, skip “Last Chance” and go to “Planning”. Last Chance: For owners who wake up at night worrying that their business is circling the proverbial drain, here are 3 critical factors that can make a difference in the quality of whatever outcome takes place over the next few days/weeks/month(s): 1. Connect with friendly local competitors; despite what you may think, they are the most likely candidates to buy assets and hire you (and some of your people) 2. Be open minded and rely heavily on a trusted advisor... -
5 Tips for Acquiring a Marketing Company
By John Hyde - Thursday March 28, 2013Acquiring a marketing firm can be a strategic investment for printing company owners looking to broaden and deepen relationships with existing customers. Additional services can spur new business — and under the right circumstances, the marketing firm’s customer base can be a valuable asset, both in the short and long terms. That said, there are as many post-merger war stories as success stories. More than a few printing company owners will tell you that a year after the acquisition, all they had to show for their investment were half a dozen used PCs and a handful of customers who chose not to follow the talent, wherever it went. So what should a printing company owner looking to acquire a marketing company look for? 5 suggestions... -
Printers Helping Printers: Thoughts on the New Association
By Tom Crouser - Friday March 22, 2013
Just because printers agree doesn’t make it right. And just because an expert says it is so doesn’t make it right either. I’m reminded of all this as I see another group of printers beginning a trade association with the focus of printers helping printers. Don’t get me wrong. I’m all for it, as long as it is done appropriately. Unfortunately, I know of a number of times when the old NAQP got off track. Here are a couple of experiences, which I put forth in hopes that the new group can avoid similar situations. My favorite example is the multiple times a good presenter came with a new marketing concept. Everyone is thrilled, but fails to ask if the speaker has actually put the concept into practice and had any measurable results...