new business
new business
(OP)
I'm a new member to this forum so wanted say hello to everyone.
I'm considering to start a business,
- Do someone think its worth to start a business in Injection molding or stamping areas in US? Does one would be more beneficial than other?
- Does it worth to start a business in Asian country like china or philipines where labor cost would be low
- Is any reliable source where I can find out the details about above business or probably need to higher a consultant.
Thank you,
I'm considering to start a business,
- Do someone think its worth to start a business in Injection molding or stamping areas in US? Does one would be more beneficial than other?
- Does it worth to start a business in Asian country like china or philipines where labor cost would be low
- Is any reliable source where I can find out the details about above business or probably need to higher a consultant.
Thank you,
RE: new business
TygerDawg
Blue Technik LLC
Virtuoso Robotics Engineering
www.bluetechnik.com
RE: new business
Does anyone have comment to start a business with stamping press?
Basically, I want to understand the market needs to understand what kind of business to start related mechanical/automotive/manufacturing. Does any resource?
Also, does any source that helps to investigate if any business will be profitable?
RE: new business
I can only really speak for the UK but companies are folding on an almost daily basis, it is a very uneven playing field not only in terms of wages but also health and safety issues go to China or Mexico and you will find people sitting INSIDE presses operating them for example.
As far as hard facts and figures go you could join the Gauge and Toolmakers association to get these I believe the cost is around £1,000 but this is such a small amount compared to setting up a press shop it would be well worth it, unless of course someone on here can give you the hard facts you are looking for.
My advice, think very long and hard before going down this road.
http://www.gtma.co.uk/default.asp?page=251
RE: new business
Currently, I'm doing investigation about customer since its primary factor. The investment is dependent on customer demand.
(A) How to contact new customer since I don't have facility up and running? I'm not sure how much to invest and how to approach them if they will give me business or not?
(Let me know besides presentation and intention for investment)
(B) How to investigate the existing supplier and their part cost for customer to be competetive in the market?
RE: new business
I also don't think you're going to find many shops willing to part with financial info... you would be a direct competitor, so why would they give you information necessary to compete? Ever heard of shooting yourself in the foot?
Dan - Owner

http://www.Hi-TecDesigns.com
RE: new business
Like I said before, I don't know what your background is - but it just seems like there isn't a whole lot. Starting a major manufacturing company like this definitely requires some previous experience in this industry. You got to know your product/service and industry inside and out, and in this case reading a book, or an online report, i just not nearly enough - you NEED experience. This isn't a grocery store.
RE: new business
How long exactly have you been planning this?
RE: new business
The part cost I was refering for past years say for year '03 which gives the rough idea to be competive in market. We all have seen the fact that years of exprience company do file chapeter 11 and young entrepreneur doing well.
Thank you very much for everyone's feedback,