Copy Shoppe Printing provides quick printing services to local Orange and San Diego Counties Businesses. The typical quick printer is a progressive entrepreneur with a customer-service, marketing driven business philosophy that provides printing and print-related services on a quick turnaround basis. The most suitable SIC code for CSP is 2752, which is classified under the commercial printing industry. The brief definition of commercial printing under the SIC code 2752 is: Establishments primarily engaged in printing by the lithographic process.
After devoted service to managing stores for two different printing companies, Mark Phelps opened the first CSP store in Prairie Village, Kansas in August 1978. In January 1981, CSP opened its first store in Southern California. Within three months, Copy Shoppe expanded its horizons and opened a new shop in Irvine, California at the Airport Business Center. Finding success in the Southern Californian quick printing market, Mr. Phelps decided to sell his Kansas stores in early1982 and focus his energy in California.
Although Copy Shoppe Printing was successful, Mark Phelps was not satisfied with being just a quick printer. Therefore, he decided to invest heavily in new equipment and opened a commercial printing business that would broaden the scope of the original CSP services. The plan was to operate the new commercial print shop in conjunction with the existing quick shops.
In order to purchase the necessary equipment for the new business, Mark Phelps used the financially sound credit of CSP stores. Unfortunately, the commercial print business failed miserably and Mark Phelps found himself a half a million dollars in debt. To ease the burden of the debt, Mark Phelps decided to stop paying employee taxes and use those funds to pay back creditors. In a short period, the IRS caught up with Mark and demanded that CSP pay the...