When you have a manufacturing business on your hands, the hope is that business is humming along.

So, business is doing pretty well when you stop to look at it. That said is now the time to grow things?

Deciding to increase your business offerings, manpower or both, can be a tricky thing.

Move to fast to grow and you could find you do not have enough business to support such growth. But, move to slow and you could see your competition go by you.

With those possibilities in front of you, is it time to grow?

Your Product or Products Will Often Dictate Growing Needs

The kind of product or products you offer will often dictate your growth needs.

If you are in the seal industry and offer ISO 3601 o-rings or similar products, is there a growing demand for such? If there is, growing your business may well be the best option.

Such o-rings are for use in many different industries including aerospace and automotive.

In taking the time to see if growing your brand now makes the most sense, keep these factors in mind:

1. Demand – What is the demand for your product or products from other businesses? You can’t think growth without knowing how other businesses view your brand as key to their survival. When consumers take pause and do not buy as much, this can have an impact on some of the businesses you sell to. In turn, it can have a financial impact on your bottom dollar. On the reverse side, an uptick in consumer spending can mean more sales for both businesses you sell to and your brand. By having a good feel for the demand out there, you are less likely to put your company in a bad position.

2. Prospects – Always looking for more businesses to sell to should be one of your top priorities. That said this takes time and effort on your end. Make sure you have the needed resources to search for prospects. This can get accomplished in different ways through emails, phone calls and more. Of most importance, compile a buyer profile so you know who you might be selling to. Also know what their particular needs are from the products you have to offer.

3. Location – Last, growing your manufacturing business depends on actual physical room for growth. With that being the case, you have to be able to determine if there is ample room for your business to expand. As an example, if your business is in the heart of the city, you might have limits in growing your building. But, a manufacturing business in the suburbs or industrial park could make for growth. Look at not only the current building size, but the road or roads leading to it to transport your products.

In thinking of growing your manufacturing biz, will you make the right call if needed?