You’ve got an idea for a product – but just how will you manufacture this product? There are a few different methods of manufacture that you can consider. Some may be better suited to certain types of products and situations, so it’s important that you choose the right one. This post compares four different manufacturing methods.
Handcraft the product yourself
Providing that you possess the right craft skills, you could consider handcrafting your product. Handmade products take more time to produce, which typically means selling them in lower volume. However, you can often charge a higher price per item to compensate for this as such products have an artisan appeal. Handcrafting products is also cheaper upfront as you don’t need to buy expensive machinery. Of course, you’ll likely still want to buy a few tools and supplies, but it won’t be as much as if you were to rely on machines. It’s worth noting that handmade products are also the most environmentally-friendly option.
Buy/hire off-the-shelf machinery
Making a product using machinery could speed up manufacturing time and allow you to produce your product in bulk more easily. It could also be necessary when manufacturing more intricate products. When choosing to manufacture a product using machinery, you should consider whether to rent or hire this machinery. Hiring is ideal for machinery that you only need for a short time (for example, if you’re doing a limited one time batch). Buying machinery may be better suited for instances where you’re continuously producing your product. Most businesses buy machinery on finance to spread out the cost. Just be wary that you’ll also have to budget for maintenance when buying machinery.
Build your own machinery
Certain products may be fairly complex and unique. You may not be able to rely on off-the-shelf sewing machines or die cutters to machine-build them – instead you may have to build your own custom machinery. This is very expensive, but will pay off in the long run. Building your own machinery requires knowing exactly what components you need. You can find parts online such as electric linear actuators and conveyor belts. A custom industrial machinery manufacturer may be able to build a machine for you. This could include creating custom dies and moulds if necessary, and even helping with the unique programming of machines.
Outsource manufacturing
Another solution is to simply outsource the entire task of manufacturing to a third-party company. This saves you having to find the space and money to set up your own factory. It also saves you time, allowing you to focus on marketing your product and carrying out the admin. Of course, sourcing the right manufacturer is important. There are many different things to consider when choosing a manufacturer such as the cost of manufacture, the ability to complete the orders you need, the location of the manufacturer and their overall reputation. In some cases, it may be worth outsourcing multiple manufacturers for different components or different products. Just bear in mind that the more manufacturers you use, the more you will pay.