Everybody’s talking about side hustles and coming up with creative ways to make extra income, it seems. With money so tight due to soaring inflation and the high cost of everything, we all need more money coming in. The Internet opened so many new avenues for passive income and has enabled a host of side hustle opportunities. You might drive for a ride-share company, shop and do deliveries for an online service or sell things on Amazon that you brought wholesale overseas. The problem with these strategies is that everyone is doing it and the tremendous competition and lack of differentiation means you have no unique value proposition.
Fortunately, there is a way to bypass the mass of side hustles that all look the same after a while. If you have a mind that sees creative solutions, if you have a touch of the inventor in you, then you could design and create your own unique physical parts or items that help make the lives of consumers easier. Perhaps you see how adding a specialty part would make a product work far better, or have come up with a brilliant solution to an existing problem that leaves people really frustrated. If this is the case, you are on your way to success.
How Creating and Manufacturing Your Own Part Creates Dominant Market Share
If you spot a market need, and then find the solution is available from an online overseas wholesaler, you may think you have it made. Unfortunately, you don’t. While you may have come up with a good idea, there is nothing unique if you purchase it overseas and everyone else can buy it and resell it too.
A far better plan is to work with a local foundry that has casting capabilities, and design and produce your own, fully unique part. You will be able to own the market because you can also patent the design. Best of all, you can expect great profit margins when you have a purely unique solution.
Partner With a Company That Is an Expert in Metal Casting
To bring your product idea to life, you will want to partner with a company that has significant expertise and decades of experience in casting. Typically, they will specialize in sand casting. During this process, they heat up a metal alloy in the furnace.
It is then poured or ladled into the open space, or cavity, of a sand mold produced from a pattern. The sand mold will then be separated at the parting line, and the now solid metal casting part will be complete.
From Prototype to Full Production
As you begin the journey from brilliant product concept to creation, you’ll be testing different designs and may be in a mode of iterative product prototyping. You will work with the foundry to evaluate the samples that were produced, and make sure they meet your requirements.
Once you have the perfect product produced and it has passed all necessary quality control inspections, it’s time to begin the full production process. The foundry you have partnered with will be able to scale up to full production, and can also offer additional services such as machining, polishing, painting, and assembly.