There are many opportunities for entrepreneurs exploring the business manufacturing industry. At one point, the U.S. was the leader in manufacturing. As federal policies and high labor costs increased, China took over as the leader in manufacturing. However, there are still many opportunities to get into the manufacturing business. Being one of the largest manufacturers in the world, data shows that the US sectors are growing in demand. Savvy entrepreneurs who are looking for a niche should explore the following profitable manufacturing business ideas.
Paper Production
A paper manufacturing business can be a profitable venture. Even with the push to conserve natural resources, like trees, the paper production business has no shortage of customers. It is true that we have become less reliant on paper in this digital age. But we still use it everyday at home, at the office and at school. With this type of reach, entrepreneurs will find that paper manufacturing is a resilient and profitable industry. If you are an entrepreneur without the financial resources to set up a paper production facility, you may want to consider using paper to manufacture other products like notebooks or notepads. Over time, adding more products will increase your margins. There are many products and opportunities to take advantage of in this industry.
Cardboard Box Manufacturing
Entrepreneurs should not care “what’s in the box”—as long as there is one. Demand for cardboard boxes continues to increase with the majority of them being used in the food industry. Those of us who shop online see our packages arriving in a variety of shapes and sizes. Even the initiatives in place for green production have not stagnated the growth of the cardboard box manufacturing industry. Researchers predict this niche segment alone will reach $240 billion by 2021. Entrepreneurs thinking about this type of venture should have strong financial resources in place. This way, you can enter into a manufacturing business with enough capital to build up inventory and scale the business.
Electrical Manufacturing Factory
Next, you should consider starting an electrical components manufacturing business. While there are some high startup costs to manufacturing electrical equipment, there are high demands for all of these products. Since electronics components are used in so many products today, you can produce a wide range of products. Some popular electronic products include circuit boards, processors, drives, relays and slide switches. In this industry, you can specialize in manufacturing niche products, patented products, and bulk products. Of course, as gain experience in the industry and build relationships, it’s much easier to find very profitable products that are in high demand.
Thermoform Molding Production
Furthermore, thermoforming is a versatile process involving sheets of plastic, heat, vacuum pressure and a mold. It is used for producing low quantities of rigid disposable plastic packaging and semi-permanent structures. For example, these structures can be found in household shower stalls or for other common residential purposes. Entrepreneurs do not need to invest in expensive equipment for this startup venture. Additionally, any waste from the process can be recycled for the next project. This decreases your need for waste management. Simultaneously, it reduces your business’s carbon footprint and total emissions. If you have an interest in the plastic manufacturing sector, thermo molding products are in high demand from many companies.
LED Light Manufacturing
Advances in technology have curbed energy use by U.S. households over the last decade. However, the demand for lighting still exists with plenty of demand. Like many of the industries highlighted in this post, the LED light manufacturing market spans across all sectors. Consumers are drawn to LED lighting for its cost-effectiveness and energy-efficiency. LED bulbs themselves have a lifespan of 50,000 hours—that is a life of 17 years if used eight hours per day! Entrepreneurs looking into LED light manufacturing can always start small before investing a large amount of capital. The demand and market for LED lighting makes this a profitable venture for entrepreneurs.
Lean manufacturing is alive and well today. There are many sectors and markets that deserve attention from entrepreneurs. Paper production allows entrepreneurs to work towards conserving natural resources. Cardboard box manufacturing takes advantage of the incredibly popular shipping industry. Electronics manufacturing provides an opportunity that can be integrated into all sorts of devices. Thermoform molding processes support a number of plastic products found in our homes. Furthermore, LED lights helps power light appliances using energy-efficient technology. The capital intensiveness and scalability of business manufacturing vary from industry to industry. However, with access to global markets, most business manufacturing opportunities are extremely profitable.
