4 Things To Consider When Manufacturing Your Product

Image Credit License CC0 

If you’ve come up with excellent product design and you want to take it to the next level, you have two real options. You could get another company to take the product through the stages of development right up into manufacturing it and selling it. Or, you could have it made yourself and then take it to market. 

The first option allows you to piggyback on an existing business’s shoulders. You’ll get access to their market reach, and you’ll have all of their experience in taking products to market. 

The downside to this option is that you will lose the lions share of the revenue from the product, and instead, you will be left earning royalties off it. You may not even be able to sell your product to another company anyway. In which case, you will be left with the self- marketing route. 

In this article, we’ll discuss the four main things that you’ll need to consider when manufacturing your own product. 

Intellectual Property 

Your intellectual property is essential. If someone can take your product and copy it because you don’t have the necessary patents in place, then your business is worthless. 

At the earliest possible opportunity, apply for all of the necessary patents, trademarks, and copyrights that apply to your product. 

Picking The Right Manufacturer

You don’t need your own factory to be able to manufacture a product. Instead, you can make use of an existing manufacturer who will be able to make your products for you. 

Start off by researching manufacturers that produce similar products. Look for the factories that make the highest quality products and approach these to discuss options. There will be minimum production quantities, and you’ll need to factor shipping, shrinkage, and defects into your margins. 

You should ideally have a mock-up or a prototype of your product made up. This should be made exactly to the specifications that you’d like your product to make to. 

Have your chosen factory make up your product and check the quality. 

Using The Right Materials

You must use the right materials for your product. You’ll want resilient materials that will withstand wear and tear such as this carbide. 

In addition to reliance, think about the environmental impact of the products that you are using. What are the implications of how the product is produced? Where do the core materials come from? Are they ethically sourced? Can they be recycled at the end of their life?

Finding A Route To Market 

Once you have created your product, you’ll need a route to market. There are plenty of opportunities. 

The traditional route would see you taking samples to retailers and pitching them. This is still a viable option. 

Areas such as Amazon Fulfillment may also prove to be effective routes to market for your new product. You’ll be able to get your product listed on the biggest eCommerce site in the world, generate sales, and have the orders picked from Amazon’s warehouse meaning you get a more significant share of the revenue than if you were to sell to retailers.

No comments