Setting up your own manufacturing business is a big commitment financially, and when you decide to bring people into the company to work alongside you, your responsibility is even greater. Manufacturing is a complex industry and people need to be safe at work, understand the product that they are assisting you to create and be on board with the unsociably long hours – you included. There may be challenges, as with any business, but the rewards that come with it can make every moment of success worth it for you. When it comes to getting your manufacturing business from a blueprint and business plan to a fully functioning, running business, you need to pay attention to what it takes to get it right. Below, we’ve put together four main elements to help you to get it right with your business.
Get The Right Support.
As with any business, the right support network is vital. You will be so full of beans and enthusiasm at getting your business going that you need to have a support network to hold your feet on the ground a little bit! You will be running yourself into the ground for your business, and you shouldn’t wait to ask for support – you will have a awful lot on your plate as it is, and you should do as much research as possible for free guidance as well as look for help from family and friends.
Location
Cheap premises equals less of your budget spent, which is a good thing. However, when you are growing a new business that uses difficult materials like phenolic plastic, you need your premises in the right location. There are a lot of reasons that geography is important – not just the environmental factors – but the transport links for your staff to get your product out to people. You also need to know if it will take a long time for your materials to arrive from your supplier to where you want it to go. Can your staff get there? There are a lot of questions you will need to answer, but location is important.
The Right Factory
You may have the right location but you need to have the right premises, too. Does your product take a lot of power to make? Is it light and bulky or small and dense? Warehouse space is important as you need to know you have the space to produce. So, think outside the box and make sure you don’t skip this step.
Your Team
You cannot create anything without the right people to help you. You can have the right product and perfect location, but the team you have need to be on point or your rate of success is about to crash. You need a skilled labour pool to choose from and you need to know that you can afford the skilled people you need to work with you.
All of these steps seem very obvious, but when they’re looked at collectively, you need to consider that these details are vital to your business.