Like many other industries, manufacturing has niche markets. Whether you’re going big or starting small, manufacturing has opened up to many investors that previously didn’t have access to this type of business.
Innovative products stand out in this market, as do innovative manufacturing processes. Many customers prefer items made to certain manufacturing standards, and they’ll pay more for products that meet those standards.
Here are a few things you should consider before opening a manufacturing facility.
Location, location, location
Whether you want to make glass peanut butter jars, plan on manufacturing sanitizing wipe stands, or the latest thing in nanotechnology, you’ve got to consider the location. Think about whether your location lends itself well to receiving materials and shipping the final product.
Remember to account for shipping and receiving, as you can’t go in and out of the same doors at the same time. If your final product is extra-large or requires special handling, remember to plan your entrances and exits well.
Wastewater management is an essential part of working in any kind of manufacturing facility. To stay open, you need to comply with ecological regulations, and it’s important to consider the beauty of your neighboring area, too.
The better you treat the water, the better-looking the surrounding landscape and wildlife will be. This is also a money-saver in the long run, as toxic waste issues can be very expensive to fix.
For best results, clean well and make sure to get a BOD removal study early on. BOD removal studies, or Biochemical Oxygen Demand studies, will tell you how your filter is working to remove organic particulates. This is just one thing you can do to keep the water in your area clean and safe.
Whether you have wood chips, dirt or rocks, you’ll want to check on your filters regularly to ensure that your local rivers, streams, and ponds don’t become bogs.
Penetrating a market is already hard enough, and it’s even more challenging when you don’t have any data to back up your decisions.
Becoming an expert is one sure way to give yourself a leg up. Research all you can on the ins and outs of your product and the market — and remember, innovation is key.
There’s always something new to bring to the table. By doing a lot of research, you give yourself a better chance of finding out what’s been done already. You’ll discover what the tried-and-true standards are and see where the industry needs improvement.
Partnerships are an important factor in making your product stand out. People read manufacturing labels, but they also like to hear about how things are made on your website. You can utilize other PR methods, too.
Promoting your products is much easier when you have professional networks. Whether you partner with a charitable foundation or a manufacturing standard, every little bit helps get the word out about your product.
Be prepared to do a little bit of everything at first, and understand that it all adds up to a lot of work. You’ll likely utilize your own energy and skills more than anything else when you’re just getting started.
Manufacturing as a large operation takes a lot of people. While most people start small, your organization will experience change with each new hire. Be prepared to put out some extra energy as you gain the finances to delegate.
You’ll likely need to invest in some change management research to help your manufacturing operation grow. Starting small is wise. If you’re careful and do your research, your facility will grow.
Be prepared with some contacts and literature on change management to make transitions more profitable.
Tying it all together
Manufacturing is a great business to be in. You’re bringing an important product into the world. The thoughts listed here are a great starter kit, but there’s always lots to learn in this business.
If anything, you can’t do too much research on the market. The more you discover about innovations and younger buyers, the more you will realize how welcome innovation and small-scale production are.
Be flexible in your thinking and stay willing to try new ideas. If you start small and tread carefully, you can absorb the risk associated with innovation. Keeping your mind open can lead to great things.