Starting up your own business is not easy, we know that. You start with an idea that consumes you, and you eventually have the faith and belief to turn it into the business that you have today. It takes effort, hard work and a lot of patience. In the beginning, you look for options that can help you get started and often if you are supplying products that means outsourcing the manufacturing. However, now might be the ideal time to add this element to your business. It can be a great sales feature and also give you much more control. But how do you make it happen? Here are a few factors to consider.
The first thing to think about would be the location side of things. You need to think about whether your current business location can withstand the additional pressure and space for manufacturing, or whether you need to seek out an alternative area to do it. This is when you may need to think about how close this will be to where you currently work.
The tools and machinery
Another thing to think about would be to think about the tools and machinery that you will need to create the products that you sell or form part of your business. This isn’t just about them in their entirety, you also need to think about the smaller elements such as imaging and infrared cameras that can monitor temperature and operations. Other things like parts that may need to be replaced for them to work out well and correctly.
You will also want to take a minute to think about the logistics. This is especially important if your manufacturing side of the business will be handled elsewhere away from where you work. You will want to factor in logistics for delivery. So ensuring that the business location is close by to decent transport links. You may also want to decide whether dispatch will take place from there or whether you want to dispatch it from where you currently do business. It might also be a good idea to check for quality control and to ensure no mistakes are being made.
Costs are always going to be important when it comes to your business, and so you need to think about whether an additional location is going to be too costly in terms of lease and business rates. You will also have extra staff so there are the wage costs to consider as well.
We already mentioned that you will be hiring additional staff when it comes to this side of the business, and you will have a responsibility to ensure that they are safe and happy when working with different tools and equipment. This is when regular risk assessments and a decent health and safety policy in place can help.
Finally, there will be some incredible benefits for manufacturing your own products. You get to have full control, especially if you want to make any changes or add to the range. You can also use it as a selling feature, such as being made close by, authentic or supporting local businesses with materials that you use. Let’s hope these tips help you to add manufacturing to your business model this year.