Here are some pieces of advice for all budding entrepreneurs who have their heart set on stewarding a fabrication shop from the kernel of a concept to a full blown company.
A business plan is the foundation for any emerging enterprise, and even if you feel like you’ve got a decent idea of what you’re doing, including with regards to your budget, you still need to write a startup business plan which covers all the bases.
Your plan will describe your business, explain its structure, outline its aims, and include analysis of the market that you’re planning to operate in. This is a chance to look into the competition, and also consider your target audience, amongst other things.
One of the things to keep in mind is that your fabrication shop needs the right machinery to complete work for clients, and this will be a key cost to encompass in your plans. You can mitigate the expense of fabrication equipment in a couple of ways; first, by choosing gear that’s capable of performing more than one type of work, and second by opting for used models rather than brand new ones.
For example, snapping up used plasma machines will let you cut, weld, and manipulate workpieces in lots of different ways, rather than leaving you limited to fulfilling just one job with a more specialized piece of equipment.
Your fabrication shop must be set up within a premises that is fit for purpose, both in terms of the convenience and accessibility of the location, as well as the on-site utilities and safety features. Measuring up the floor space to ensure that there’s adequate room to accommodate your fabrication equipment.
Checking up on the ventilation configuration, looking into the provision of power and so on, should be a priority. Ideally you’ll be able to find a building which has previously been used for similar purposes, as this will minimize the additional expenses incurred by you up front.
This will be part and parcel of your planning stage, but it’s worth discussing separately; you need to know what your fabrication shop will be able to do for clients, and that means combining an understanding of your own skills with an investigation into what prospective customers will want from you.
For example, your market research might reveal that there’s another major industry in the region which you could serve, whether that’s manufacturing, aerospace, automotive or anything else. This could help guide the other choices you make, and give you a way to target a niche that will prove lucrative.
Of course you could also go the all-purpose route, and not limit your shop’s scope to just one set of potential clients. This is a decision you’ll have to make based on a number of variables.
Finally, be sure to secure business insurance for your fabrication shop that will protect those initial investments you’ve made in the premises and the equipment. You’ll also want liability cover so that any employees and visitors to the site are defended from the fallout of accidents or injuries which might occur.
There are a lot of other moving parts to fit together neatly when setting up a startup fabrication shop, but hopefully you now have a grasp on how to get the basics right.