Naturally the first step to developing a new small business is to identify consumer demand for a particular product or service. Traditional businesses such as hairdressers and restaurants manage to survive and flourish largely due to the necessity for both haircuts and food. And a practice as old as the hills – gate making – continues to thrive based on this very same principal. But bankable though it may be as a business, gate making requires more than simply riding the bandwagon of guaranteed financial return. It requires in-depth knowledge of the local market, as well as the skills and correct machinery to ensure that your gates are as good as (or even better than) the competition.
Researching the Market
However stable any profession may seem financially, conducting in-depth research into the local market is an essential first step to moving ahead with your business. In general terms, gate-makers will always have business in their surrounding area, but the amount of business can vary considerably. Unlike eating or getting a haircut, gate-making is not a service that people require ever few weeks. So you’ll need to ensure that you set up business in an area central to a number of highly populated towns or cities. Likewise, research your competitors in the local area. If there isn’t enough business to go around or if your competitors are already well established, you may have trouble cornering the market.
Suppliers and Machinery
Having a good supplier and quality machinery can be the difference between success and failure as far as gate-making is concerned. If there is competition in your local area, it’s vital that you are able to source materials for the same price (or hopefully cheaper) than your competitors. This will naturally allow you to be more flexible on your rates. And investing in the best possible machinery and equipment will see that you are able to offer a top quality product. If your competitors are still building wrought iron gates using antiquated equipment, but you’ve got an MT 500 Nargesa twisting machine from Clarence Jones in your arsenal, not only will your gates be better made, but your business on the whole will be far more efficient.
Key Knowledge, Suppliers and Equipment
Though gate-making can be a financially stable undertaking, you should not take it for granted that you’ll succeed simply by setting up business. Only through a knowledge of the market, good suppliers and quality equipment will you truly have a change of flourishing.