For businesses that create products, as a pose to creating services, the manufacturing process can be a daunting one, especially when the business is still new and it’s on the small side. Manufacturing can be expensive, which can make the process unaffordable for many small brands.
Obviously, if a business is built around product creation, it needs to be able to afford to manufacture its products. Otherwise, it will fall flat and fail. That is why it is vital to ensure that before launching a business in product supply and distribution, you ensure the manufacturing side of things is affordable.
Launching a business is stressful enough, without the added worry of a lack of funds. Bearing that in mind, below are some tips and pieces of advice that will help to make the process of manufacturing on a small scale easier and more affordable. Read on for everything that you need to know.
Be clear about what you want & need
First things first, be clear about what you want and need. Don’t get talked into having things that you don’t need – your business is small, you are on a budget, so it is important to keep your manufacturing as budget-friendly as possible. One of the most common reasons businesses fail is because of a lack of funds – don’t let your startup be next, be clear about what you want and need and stick to your guns. Don’t be tempted to overspend, because you will live to regret it.
Research every last detail
Before you even think about choosing a company to handle any part of the manufacturing process, from product design to product packaging, take your time to research every detail. Look into the areas that you will need to outsource, as well as the part of the process that you may be able to deal with in-house. For instance, to cut costs, a lot of smaller brands invest in a digital label printer, so that they can print their own product labels to attach to their product packaging. A lot of smaller brands also opt to pack their own products, to help cut costs further.
Compare, compare, compare
For every quote that you get, make sure to compare. You want to ensure that you get the best deal for the best price, which is why getting a range of quotes and comparing them all is so important. If there is a company that you prefer, but they charge more than another brand, don’t be afraid to haggle with them to try and get their prices down. Explain that you are looking to build a long-term partnership, and that you would love that partnership to be with them.
Once you’ve compared the different options, take the time to read customer reviews and testimonials of the brand. It’s important to make sure that any company that you work with is reputable and puts their customers’ needs first. So it’s worth taking the time to read reviews and testimonials before agreeing to partner with a certain company.
Want to make small scale manufacturing easier (and more affordable)? Take note of the tips and advice above, and you can do.