New technology and shared work spaces make starting a manufacturing business easier than ever. Contemporary manufacturing startups no longer need the large amount of capital or huge factory spaces that were required in the past to get up and running. Modern startups rely on shared spaces, small inventories and automated production processes to minimize costs and maximize growth.
Popular Mechanics offers new manufacturers tips on building solid small batch manufacturing enterprises as part of its New American Success Stories series. The series features several manufacturing startups that turned do-it-yourself projects into successful businesses. The entrepreneurs took their own designs and used innovative production methods and marketing techniques to grow their businesses.
Networking is the key to growth for many small manufacturing startups. When an inventor outgrows garage production, the Internet provides him with easy access to ideas and connections to find new methods and locations for production. Shared production spaces such as TechShop provide access to industrial tools, engineering software and lessons in production for a reasonable monthly fee. Access to state-of-the-art equipment including 3-D printers, laser cutters, computer-controlled cutting machines and machine presses provide the means to modify products and speed up production without a large financial investment. Manufacturing startups get all the benefits of a high-tech manufacturing facility without having to wait years to build one.
Shared spaces also allow manufacturing startups to minimize inventory. A small inventory ensures that capital is not tied up in unsold parts or products. Startups crank up production when orders are high and then pull back easily when there is an ebb in their market. After a successful advertising campaign, it is easy to hire a few workers and increase production for just as long as it is needed. Matching output closely to demand prevents waste and allows flexibility in product design. Ordering online makes it easy to find suppliers who are ready to ship smaller quantities of parts for manufacturing use. The Internet also streamlines comparisons between suppliers so that manufacturers can get the best parts for their money.
As trends change or new technology becomes available, creative manufacturers have access to software to develop new product plans and 3-D printers to quickly manufacture prototypes. Flexibility is essential to remain competitive in the modern marketplace. Consumers used to regular upgrades and product personalization expect manufacturers to be responsive to their needs. Digital manufacturing methods allow manufacturers to conveniently tweak products and customize them to meet consumer demand.
Get your manufacturing business off to a great start by taking advantage of digital networking and shared work spaces. Access to the latest manufacturing technology through local shared spaces helps keep small batch manufacturing in the United States. Small inventories, convenient online parts suppliers and product flexibility all help manufacturing startups to succeed.
(Photo courtesy of koko-tewan at FreeDigitalPhotos.net)
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