2019 Annual Printing News Franchise Review

Over the last decade, it’s no surprise that there have been significant changes in the printing industry as we continue our journey down the path of the analog-to-digital transformation and see the ongoing impact of alternative media on print volumes. A combination of these factors, plus the 2008/2009 recession, has taken a toll on the industry. The good news is that commercial printing shipments overall ticked up in 2018. And profits, while not back to their Q42007 levels, have recovered significantly since the 2008/2009 dip.

The number of establishments, however, does continue to decline as we continue to face consolidation. In 2008, there were 32,697 printing establishments (NAICS 3231) in the United States. By 2016, the last year for which we have data, that number had declined to 25,521, a decline of 22%, with an average net loss of establishments per year of nearly 900. 

In the space that more closely aligns with the franchise business – establishments with less than 20 employees – there were 26,508 commercial printing establishments; in 2016, there were 21,107, a decline of 5,401 establishments, or 20% -- an average of nearly 700 establishments per year over the period.

In preparing this Annual Franchise Review, we wanted to take a look at the last decade in print franchises to see how that segment was tracking as compared to commercial print and to draw some conclusions about the value of franchise networks versus an independent small commercial printing firm operating on its own. We chose <20 employees in commercial print as the benchmark for comparison since few, if any, franchise centers have more than 20 employees. So it’s not a 100% statistically accurate comparison, but does paint an interesting picture.

Franchise Networks: Then and Now

Back in 2008, there were seven franchise networks in print:

• Allegra Network
• AlphaGraphics
• Franchise Services
• ICED
• LAZERQUICK
• Minuteman Pres
• Signal Graphics

These networks accounted for 2,509 establishments (centers) in 2008, with revenues of $1.9 billion. 

Today, after a series of mergers/acquisitions/closures, there are five remaining networks.

• Allegra Network (including Allegra, American Speedy Printing, Insty Prints, KKP Canada, Speedy Printing and Zippy Print)
• AlphaGraphics
• Fortusis (formerly ICED) (including Kwik Kopy Business Centers, The Ink Well, Franklin’s Printing and American Wholesale Thermography)
• Franchise Services (including PIP, Sir Speedy, Multicopy, Signal Graphics and EastNet Print)
• Minuteman Press International

These networks accounted for $1.35 billion in sales in 2018 with 1,918 centers. That’s a 23% decline in the number of franchise centers, and a 29% decline in revenues. During that same period, then, commercial printing establishments with less than 20 employees declined by 20%, while franchise centers declined by 23%.

Printing shipments by size of establishment are difficult to determine based on government data. However, we were able to acquire some good data from APTech’s PrintStats program reflecting that total commercial printing shipments (including pre- and post-press) for companies with less than 20 employees were just over $15 billion in 2008, declining to $12.5 billion in 2018. That’s a decline of 17%.

However, when comparing 2018 to 2017, the franchise networks’ systemwide sales grew modestly at 1% while PrintStats estimates that printing shipments for commercial print firms with less than 20 employees declined by 2%.

 Revenues were a little trickier since we were unable to break them down by number of employees … but in 2008, total printing shipments for companies of all sizes in NAICS 323 were at $98.6 billion, declining to $82.7 billion in 2018, a decline of 16%, compared to 29% for franchises. 

With this admittedly non-scientific analysis, it would appear that commercial print overall performed slightly better than franchise networks over the period, but not by that much, meaning franchise networks were roughly tracking with the industry in terms of numbers of establishments, but not performing as well in terms of printing shipments over the past decade. However, franchises appear to be on a growth path, while shipments by small independents are declining. 

Based on what we learned in speaking with franchisors and as outlined in this article, we fully expect to see franchise network growth to continue to exceed that of general commercial print (<20 employees) over the coming years.

2017 versus 2018 in Franchise Networks: A Brighter Picture

But the comparison in performance for franchise networks from 2017 to 2018 tells a different story. 

The five existing print franchise networks, as stated above, racked up $1.35 billion in sales in 2018. While this is below franchise sales from a decade ago, these networks are again on a growth path following the decimation of the recession that everyone in print – and many other industries – sustained. 

In fact, 2018 was a growth year for franchises, with total systemwide sales increasing slightly over 2017’s reported level of $1.3 billion. This is good performance in a world in which commercial print shipments overall continue to be under pressure and still remain below levels reached in 2015 and 2016. Here are the individual performance numbers.

* It should be noted that in 2017, Fortusis declined to report financials due to the acquisition of ICED brands by Fortusis. We used 2018 numbers for Fortusis, keeping revenues flat for comparison purposes.

It is also worth noting that growth was achieved in spite of the fact that the total number of centers has declined slightly from 1927 in 2017 to 1917 in 2018. Two of the five networks (Allegra Network and Franchise Services) reported higher average sales per shop, with reported revenue increases 12% and 3.6% year-over-year growth, respectively). We are showing Fortusis as flat, since they did not report financials last year due to the Fortusis acquisition. AlphaGraphics reported a 1.6% year-over-year growth in systemwide sales, and Minuteman reported a slight (4%) year-over-year decrease in systemwide sales despite an increase in the number of centers.

Most networks also reported impressive numbers in terms of highest revenue-generating shops in 2018, as shown below. AlphaGraphics, Allegra Network and Franchise Services led the pack.

Our interviews with franchisor executives from the five networks shed a great deal of light on the reasons why each of these networks delivered their respective performances. Let’s take a look at the strategies and tactics each is employing to drive future success, and then we’ll discuss what this means for franchises and for the industry at large. We’ll take them in alphabetical order!

Alliance Franchise Brands LLC

The Marketing & Print Division of Alliance Franchise Brands LLC (parent company of Allegra Network LLC and KK Printing ULC) comprises the brands Allegra Marketing Print Mail, KKP, Insty-Prints and American Speedy Printing. The company’s Sign & Graphics Division supports the brands Image360, Signs Now and Signs By Tomorrow. 

Kevin Cushing, Marketing & Print Division president, is a veteran of the print franchise business and a former franchise location owner who brings a broad and interesting perspective to the business. He has been in his current role for four years.

To help guide strategic planning and direction, Cushing and team have engaged 15 of the top franchise location owners who operate high-volume centers. “We all benefit from the exchange of ideas,” Cushing says. “As a network, we gain important insights from a highly successful and motivated group when we explore initiatives in data services, workflow and more. They are welcome partners in formulating new programs that can be tested and refined prior to network-wide rollout.

“We also seek feedback from all of our franchise members through annual surveys, our Network Advisory Council and day-to-day interactions. Part of our stated mission is to deliver high-impact programs and support, and each interaction with franchise members helps us refine where we focus our energies.”

The company’s total center count in the Marketing & Print Division declined from 299 in 2017 to 289 in 2018, mostly a result of consolidations. The network’s systemwide sales grew from $231,519,989 in 2017 to $254,041,198 in 2018.

Two programs are available to independent printers and entrepreneurs looking for a proven franchise model. “The Allegra MatchMaker® Program allows entrepreneurs to purchase an established business with an existing customer base, cashflow and staff,” says Cushing. “Owners of independent print shops looking to retire or sell their businesses can work with one of our merger and acquisition managers to find qualified buyers or match with existing franchise members looking to expand in other markets. A re-branding to Allegra Marketing Print Mail allows the new owner to capitalize on the power of the network and hit the ground running.” 

The Allegra Advantage℠ Program is designed for independently branded print services providers who want to grow the value of their company by gaining access to a host of franchise network resources plus develop a strategy for when they are ready to sell. 

“They are often facing issues with sales, sales management and technology,” Cushing says, “and having all of that vetted for them by our Home Office Team is a big benefit. It allows them to focus on growing instead of on infrastructure. When it’s time, exiting the business is easier to achieve because we can work with them to better position their company for sale. We’re out talking to entrepreneurs all the time.”

Another interesting opportunity for franchisees is the ability to be dual-branded. “In the signs business,” Cushing says, “Image360 is our growth brand. We have 29 Allegra centers that are dual branded as Allegra and Image360, and our goal is to have 80 in the next five years.”

Finally, as many executives leave the industry’s OEM/supplier businesses, either through retirement or through the consolidation many of these companies are going through, the organization offers qualified executives a grant that helps ease them into a new business. And a referral program compensates anyone referring an entrepreneur who signs a franchise agreement.

Over the past six years, the company has made extensive investments in services and infrastructure to support its franchisees, including its WorkStream™ technology package. Technology is a centerpiece of the company’s long-term vision for growth. The integrated system is designed to reduce the time associated with estimating, order entry and production activities through automation, shifting the focus to client services. Strategic partnerships with a variety of industry suppliers have helped to develop a fully integrated solution that includes eCommerce, MIS, marketing technology and more, much of it cloud-based.

Its corporate Marketing Resource Center includes graphic designers, copywriters and web developers, committed to helping the network deliver marketing services. The company also conducted 489 sales training and coaching sessions in 2018. 

A corporate-owned center serves as a test bed for new business opportunities and technologies. Most recently, this includes equipment for heat transfer dye sublimation, beginning with the production of promotional items. Cushing explains, “We would like franchisees always to be able to say yes and to rely on corporate operations to handle complicated projects.” 

Cushing concludes, “The acid test for the value of a franchise is when the owner has to choose to renew or not. We consistently run over 90% on renewals.”

AlphaGraphics

One of the themes for 2018 across most of the franchise networks was weeding out non-performing centers, and AlphaGraphics was no different. The company had 279 centers in 2017, declining to 273 in 2018. Average sales per shop were up year over year, from $964,000 in 2017 to $1,152,749 in 2018. AlphaGraphics had the best performing shop across all networks in terms of revenue at $15,678,132. The network reported net profits of 10% to 11% for the year.

According to President, Chief Operating Officer and Chief Technology Officer Ryan Farris, “We have an aggressive growth plan in place for our existing owners and for net new centers in our network. The growth we are driving for our owners is attractive, and by showing the value of the brand to independents, we are attracting more each year who what to improve sales or are looking for an exit strategy. With our strong operating model, AlphaGraphics provides the ability to drive growth for operators as well as provide qualified buyers for those that want an exit.”

AlphaGraphics has rolled out a number of infrastructure improvements for franchisees over the last two or three years. This includes the 2018 rollout of PrintSpeak Business Intelligence and Marketing Automation for the network. The entire network is using this tool which comes from an Australian partner and has been Americanized, giving owners and sales people real-time information on what is going on with insight into actions they should be taking, including estimating, win/loss analysis, checking in on and providing offers to customers. “This is not just an operating tool,” Farris states, “but a sales enablement tool.” PrintSpeak is fully integrated with the network’s preferred MIS, EFI PrintSmith Vision. Other initiatives include a new web site and XMPie ecommerce capability and the update from PrintSmith Classic to PrintSmith Vision. Adobe Experience Manager has also been integrated into the new web site. “We are also working to push the network to software as a service for our operating platform,” Farris adds. “We have 30% to 40% there already and expect to get to 50% to 60% this year. And we are almost doubling our infrastructure investments to deliver better value to the network.”

One management tool this has enabled is a useful CRM tool powered by PrintSpeak. Farris explains, “It will pull the customer SIC code, D&B information, number of employees, etc., for customers and prospects. It’s also integrated with email – every email sent or received across the organization is tracked. And this makes customer communications more effective. You can, for example, ask the system to find every customer that placed an order today, or hasn’t within the last 90 days. You can then send emails to those groups with one click. The system even tracks email opens. And it can be viewed from the desktop or phone.”

While AlphaGraphics partners with a number of OEMs, Farris states that all new centers will ideally be equipped with a Xerox Versant 180 with inline bookletmaking, a Duplo cutter/slitter, a roll-to-roll Latex printer for signage, and a Colex flatbed cutting table. For higher volume centers, the options expand to include a Ricoh 7100 or 9100, or Xerox Iridesse, and even higher volume centers are likely to have a Xerox iGen or HP Indigo 5 Series. Farris points out that all centers are required to have large format production capabilities, saying, “Signs are well over 10% of our business today, but growing in the 25% to 30% range. While digital print accounts for the highest percentage of our business, we think signs will be running a close second soon.”

One interesting campaign the company conducted to promote its signage capabilities was a promotion for a complete business makeover, awarded to Chicago-based Slice of Pie, a pizza restaurant. AlphaGraphics worked with an agency to help redesign/refresh the business branding and used a local AlphaGraphics center to produce and install new signage and branding. The updated window, wall, floor and related branding refresh and makeover will be captured on video for promotional use.

Some AlphaGraphics centers offer direct-to-garment and heat transfer capabilities, primarily for T-Shirts, a capability likely to spread to other centers. Labels and packaging for small businesses are on the docket as well as a growth opportunity.

Fortusis

Fortusis – who our readers will remember as ICED – has been in transition since the passing of Bud Hadfield in April of 2011. According to Vice President of Operations Jay Groot, the family decided to put the brands up for sale early last year, following the sale of Parcel Plus in 2015 and Kwik Kopy Canada to Alliance Franchise Brands in 2016. In early 2017, the family was approached by Curtis Cheney, who was the manager of the network’s largest center located in Utah, and purchased the remaining brands (Kwik Kopy, Franklin’s Printing, The Ink Well and AWT) effective October 1, 2017. “We are looking at a brand-new start, redeveloping the business model, working to ensure growth in our core group of owners and starting to sell franchises again,” Groot says, “and are excited about the energy Curtis brings to the business. By the end of 2018, we will have sold all remaining ICED assets, and ICED will be no more.” The company expects to develop a new brand that will encompass its business during 2019.

Groot explains that Fortusis means to build on strength, adding, “We plan to take the good we have in the system today and build off of it.” There are 61 centers currently in the network with systemwide sales of $24,500,000 in 2018.

One goal of the new owner, according to Groot, is to redevelop the business model to better attract Millennials. He says, “We believe Millennials will want coaching and guidance, and a good structure to follow, and that they fit better into franchising than people that are getting out of corporate America who have established ideas about business practices and may not want to follow the franchising plan. We will put more focus on marketing services, since there are many Millennials who have graduated with a marketing degree and are not quite sure what to do with it. Print isn’t going away, and Millennials like print, too! But you also have to tie in screens as well. So we expect that we will be offering an increasing portfolio of digital services as the model develops.”

What does Groot see as the center of the future for Fortusis? “I see them with a lot less equipment,” he says. “I see them as more focused on customer solutions and using outsourcing as a means to do that, through the various trade services available. With this model, new centers can start out at a lower cost, grow, and when it makes sense, add equipment to do work themselves.” He reports that Fortusis centers are trending out of offset, so a new center might have a digital color press with good finishing capabilities and a 48” wide format printer for fast turn work on-site. “We want to allow our people to focus on working with customers and finding solutions. Millennials are less interested in operating equipment but would rather direct someone else in doing the work and focus on working with clients.” He notes that an entry level center can be started up for as little as $500,000 with equipment, furniture, working capital, etc. “If we can get it down lower, perhaps even as low as $250,000 including working capital, that opens the door to a lot more people to get into a franchise.”

Fortusis is also committed to giving back 25% of franchise fees to help franchisees grow their businesses.

We’ll look forward to seeing how all this plays out for the company in 2019 and beyond!

Franchise Services

Franchise Services celebrated its 50^th anniversary in 2018 and is still going strong. The systemwide sales for the network in 2018 were $297 million, compared to $287 million in 2017, with the highest performing center generating $11 million in sales. Franchise Services includes several brands: Sir Speedy (in business for 50 years), PIP (the oldest print franchise brand at 53 years), Multicopy, Signal Graphics and EastNet Print. The number of Franchise Services centers has declined slightly, from 337 in 2017 to 330 in 2018. Clearly, with the growth in systemwide sales, the strategy has been beneficial. Average sales per shop in 2017 were $1,017,420, with the average rising slightly to $1,055,000 in 2018. 

Don Lowe, the CEO, is still active in the business. His son, Richard, is President and Chief Operating Officer. And the third generation of family management is on its way with Zachary Lowe actively involved in the business.

The key business strategy at Franchise Services is to have a sales culture from the counter all the way through production, including both printing and marketing services. “We encourage our franchisees to get out and talk to customers,” Richard Lowe stated, “to better understand what they are trying to do. It can be difficult because of the competitive nature of the business and how communications have changed with so many alternatives. But we have lots of exciting products to sell.” In 2018, the network added 11 sales people for a total of 144. Sales among existing sales people grew at 12%. The organization is also placing focus on training of customer service representatives, a position that Lowe states can often be left behind as the organization introduces new products.

Lowe reports that the network’s signs business grew at 25% in 2018, adding, “Our objective is to get to signs being 25% of total revenue in the shorter term, with a goal of 50% longer term. It represents about 16% of our business today. Without the growth we are experiencing in signs, our business would be flat.”

Lowe also sees a huge comeback in direct mail. “While the price of postage continues to go up which is a challenge,” he adds, “customers are still going back to direct mail.”

Another opportunity Franchise Services has in its sights is packaging. “That business is more challenging than we originally thought,” Lowe admits. “But we are doing template carton business with all sorts of precut templates for carton packaging available online. This is a business area that will continue to grow and not be displaced by the Internet. The label business is good for us, and we are also excited about apparel and wearables as a business opportunity. And we are offering database management service as well, helping customers buy, clean and manage databases.”

The digital transformation in the network is almost complete as well, with less than 15% of franchisees owning offset presses.

One means of encouraging change among franchisees that the organization has had in place for 15 years is its Application Innovation Award. “We ask our franchisees and sales people to send in their best applications and it’s amazing what they submit. We see great online storefront implementations, unique signage solutions, and innovative integrated marketing campaigns topping the list. So we recognize our innovators and share the ideas across the network to spur new excitement in the business.”

Like many organizations in the printing industry, Franchise Services is seeing a number of its owners retiring. As a result, Franchise Services sold more of its centers to new owners in 2018 than ever before, with two of the centers selling for more than $1 million. Lowe expressed a concern about bringing in new owners to start up a new center, stating, “The average franchise has been doing this for 20 years, and it is a highly competitive business for someone who has no industry experience to start up a new center. But buying an existing center gives them cash flow, employees, equipment, customers and a lot of knowledge that can help ensure their success. Plus, we get the benefit of new blood and new ideas injected into the system. We also find that converting existing commercial printers to franchise locations has significant challenges, although we have done a few of those.” Despite retirements, Franchise Services sees an average of 96% renewal rate among existing franchisees. In fact, two of its PIP franchises have been in the same family for 50 years.

Lowe concludes: “We ended the year on a high note. Business is good, and we are chasing it hard again this year. Our objective is to see greater than 3% comparable center sales growth in 2019, and I think we will beat that number. Even after 50 years, we are still enthusiastic and having fun!”

Minuteman Press International

Minuteman Press International has the most centers of any network at 965, up from 956 in 2018. The company also has the most international presence with about 75 centers in Canada, 55 in South Africa, 60 in Australia, and more than 60 in the United Kingdom. Minuteman has had a presence in South Africa for 20 years. Systemwide sales are down slightly, from $490 million in 2017 to $469 million in 2018. Its highest revenue shop generates $7 million in sales, and its average sales per shop has climbed from $593,000 in 2017 to $621,383 in 2018. It is also the most affordable for new franchisees with an estimated investment of $150,000 to start up a new center.

We asked Titus what sets Minuteman Press apart. “Our owners,” he quickly stated. “They are good people that listen. We have 150 stores that are being run by the second generation, and we have people that have owned franchises for 30 and even 40 years. We have added so many different services. The owners that jump on board and take advantage of these additions do well; they grow, and they build.”

Minuteman Press has a two-week sales training that everyone attends. The company holds its World Expo convention every other year and does local meetings with franchisees around the world in between to ensure strong relationships and to seek feedback on what the system can do better and what new products franchisees would like to offer. Titus says, “More than 10% of our U.S. system does more than a million dollars in sales, which qualifies them to attend our annual 4-day recognition meeting in West Palm Beach. Then, they have to grow sales at least 10% above that to qualify for the next year, and 90% of them make it every single year.”

Minuteman Press does some converting of existing commercial print operations to franchises and also opens brand-new centers. “Over 40 years, we’ve had people from every walk of life you can imagine,” Titus says. “It depends on where they are in their lives. Some in their 50s have been laid off or taken early buy-outs. Some are young kids that can’t get jobs, so parents are buying them franchises. It’s really the same places they came from 40 years ago.”

Minuteman has produced its own proprietary management software, email marketing and search engine marketing programs. “People can spend money and buy into an optional internet marketing program developed by Minuteman HQ,” Titus says. “They can also use the proprietary software and get help training graphic designers, find postcards they can download and print for mailing programs, choose from flyer designs, and find out what vendors to call for what products. They also have access to our branding guidelines online. All centers have graphic designers. Minuteman Press International has also adopted lucrative heat transfer sublimation applications across their network.

Titus concludes: “We are continually looking to add products and services – anything with a name, trademark or logo, we print it for our customers or find it for them. We help our franchisees find the right outsourcing partners, and when volumes grow to an appropriate level, we help them choose the necessary equipment to produce in-house.”

The Future of Print Franchises

Based on our interviews with these five organizations, the future of franchise printing is bright. All of them seem to have recovered from the recession and are moving on from consolidation to growth. Everyone we spoke with was excited about the business, and each organization continues to add new services.

One interesting finding has to do with the blurring of the lines between print and sign franchises. In the case of Alliance Franchise Brands with its dual branding strategy, there almost are no lines! And Franchise Services has a goal of driving signs to 50% of its business long term.

We asked our survey respondents what their greatest challenges were, and the top challenge was finding qualified sales people, identified by 60% of respondents. Only 20% cited finding qualified production personnel. Forty percent of respondents cited these challenges:

• Managing workflow automation
• Capabilities of sales personnel
• Consumables and supplies pricing.

Interestingly, none cited competition from other print providers or loss of print business to digital media as a challenge over the next 12 months.

Sixty percent of respondent cited these things as representing the best new business opportunities over the next 12 months:

• Customers outsourcing more work to us
• Customized, personalized or variable data printing jobs
• Adding wide format printing capabilities
• Automated production
• Hiring new sales people to drive higher sales.

Color digital printing still represents the bulk of franchise printing revenue at 27%, followed by:

• Brokered and other services (22%)
• Offset printing (14%)
• Black & white digital printing (11%)
• Wide format signage (11%)
• Finishing and mailing (9%)
• Prepress (8%)
• Web-based (2%)
• Label printing (1%)

In terms of products/services that have been added in the past 18-24 months or for which companies have specific budget plans to add in the next 12-18 months, 100% of respondents cited soft signage, further demonstrating the blurring of the lines between print and sign franchises. In addition, 40% of respondents have added hard signage/sign construction, vehicle/fleet graphics/wraps, and building wraps. Forty percent added digital textile printing for applications other than soft signage in the past 18 to 24 months with 20% actively considering it, 20% considering it not appropriate for their businesses, and 20% planning to outsource the work as needed. And 80% of respondents have added digital art printing in the past 18 to 24 months. Sixty percent of respondents have added or have specific budget plans to add commercial print, which we read as longer run, more sophisticated printed applications. The remaining 20% plan to outsource this work as needed. Finally, only one organization is researching dynamic digital/electronic signage, with another deciding it is not appropriate for their businesses and the rest planning to outsource as needed.

Forty percent added digital textile printing for applications other than soft signage in the past 18 to 24 months with 20% actively considering it.

To Franchise or Not to Franchise

Today’s printing business is complex and highly competitive. Technology is moving fast, runs and turn times are getting shorter, and technology is also enabling entry into a broader array of adjacent businesses than ever before. For a small, or even mid-sized, commercial printer, it can be daunting to stay current with technology, make decisions about development of new applications and opportunities, and keep infrastructure current while still managing day-to-day operations and putting out fires. 

While it can be difficult for a business owner, who has his or her own culture and business approach, to make the changes required to successfully move into a franchise network, there are many benefits to doing so. As all of our respondents pointed out, the franchisor organization takes on many of the daunting challenges facing print business owners today and frees them to spend more time with customers, which not only makes the business more fun but keeps them in tune with their customers’ changing needs, which in turn are fed back to the franchisor to guide decisions about future strategies. 

And several of the networks have attractive programs in place to help commercial printers make this migration, or to help them with an exit strategy as they approach retirement or wish to leave the business for other reasons.

It will be interesting to watch the market shifts over the next year. Will commercial printing establishments continue to decline while franchise center numbers increase? And how far out might it be before the percentage of franchise centers gains critical mass? Today, franchise centers represent an estimated 10% of establishments for printing companies with less than 20 employees. Most of the networks are aggressively pursuing conversion of independent printers, so it is likely we will see that percentage continue to grow as independents join franchise networks and the overall number of printing establishments continues to decline.

Today’s franchisors are making significant infrastructure and other investments to benefit their franchisees. They are seeing growth. They are seeing renewals. And those that want to are seeing commercial print conversions. They are typically further along in the analog-to-digital transformation, and they typically offer a wider range of services than their commercial print counterparts. For many independents, the struggle will continue to stay current with technology and emerging customer needs while still managing their businesses.

The next big challenge will be the blurring of the lines between print and sign franchises, and how each differentiates itself from the others. Be sure to read our Annual Sign Franchise Review in the May issue of WhatTheyThink/Printing News for more insight on this topic.