So You Want To Get In To Manufacturing (part 1)
Having been in the personal care manufacturing business for a number of years I have some advise for those of you thinking about starting a manufacturing operation. First off some manufacturing basics. Manufacturing is essentially the same no mater what product you are producing. It is governed by supply and demand. The term "manufacture it and they will buy" does not always hold true. Manufacturing a product that was popular 25 years ago will not necessarily sell in todays market. You can however manufacture a product that no one has seen before and with some creative marketing create demand for that product. So what is required to manufacture a successful product? Start with the basics of any business, the business plan. This is essential to the success of any business be it a manufacturing or service based business. A business play will provide you with important information such as:
- What your costs are going to be
- Who are your suppliers
- How are you going to market your product
- What distribution channels will you use
- What customer support will you need to provide
A good business plan is my no means cast in stone. There is always room for adjustment as you refine your process, find new suppliers or change marketing channels. Producing the product is the one step that requires the most attention. Not having the right staff, process, equipment or suppliers could bring your whole venture to an abrupt end. One of the biggest costs in the manufacturing business is the labor component. But having the right personnel who are dependable, experts at what they do and take pride in their work are also one of the biggest assets a manufacturing company. So take your time to choose your staff. In part 2 I will discuss the manufacturing process, equipment and suppliers.
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