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Manufacturing Ideas: What Could You Manufacture To Make Money?
The manufacturing industry is a difficult one to break into as a newcomer. All too often, we are hearing stories of stalwart factories going into administration because of the impact of Covid-19. As people have begun to watch the purse strings a little more closely, they have purchased less from retailers.
Fewer orders mean less manufacturing. However, this doesn’t mean that you shouldn’t consider a foray into manufacturing if you are keen to cut out this section of your supply chain. By keeping your manufacturing in-house, you can have more control over your output and finances. Take a look at these manufacturing ideas that can make you money in the post-pandemic world.
Follow A Passion
You might be keen to say goodbye to your current boring job and opt for something a lot less rigid for your professional career. By following a passion, you can become creative and do something that you love for eight hours a day. Perhaps you enjoy working with graphics and you design your own custom made tees. Or perhaps, you enjoy crafting education packs for kids learning at home during this pandemic.
Manufacturing may mean sourcing your own components to craft the ideal final product. It may be small-scale, but you can set up your production line in an outbuilding in the garden to print your tees or to mass 3D print your educational packs. Start small and grow as your orders increase. By keeping control of this part of your supply chain, you are less likely to see a dip in cash flow.
Covid-19 Inspired Ideas
You might be keen to do your bit for the coronavirus pandemic. If you have the capability and you have hired or bought factory or production line capacity, think about creating liquid hand sanitizers or face coverings. If you are looking to break through into the hand sanitizer market, consider the industrial mixing equipment that you will need. Too small scale and you won’t be able to produce enough bottles to fulfill orders. You need to go big to compete with your industry rivals. Opt for something a little different to satisfy a niche. Botanicals for different scents or eco-friendly vegan ingredients can bring something new to the market. Buyers are also keen to do business with smaller and more local producers so maximize this in your branding.
If you are looking to make face coverings, do your research and make sure that they are fit for purpose. A simple cloth face-covering won’t be worthwhile. However, by experimenting with the efficacy of different filters and materials, you can generate a mask that is suitable for protecting people from coronavirus in social or professional situations. Start small and sew some face coverings that you can sell locally. Expand if you gain a following by marketing them on social media or craft sites like Etsy or auction sites like eBay.
If you are eager to break into the manufacturing sphere, you must make sure that you understand the market that you need to buy your items or products. Do your research, keep your overheads low, and enjoy experimenting with different manufacturing methods to create an efficient and cost-effective supply chain.