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A Fin24 user writes:
I have been a local footwear manufacturer for the past 15 years. The last three years have become so seasonal that it is almost impossible to sustain my business.
I am dependent on the chain stores to help, but the same fate has befallen me again this year. I need to diversify to sustain the business for the first six months.
Can you help?
Business development consultant Anton Ressel responds:
You have not said what the nature of your product is in terms of the footwear you make, so it is difficult to advise on possible diversification options.
However, as a footwear manufacturer you do have access to machinists, and I assume you can work with leather.
You may look at adding bags and wallets to your line, or similar leather goods - new lines that do not require too much product development, which is costly.
Alternatively, you can try and explore some more niche footwear markets that are usually less seasonal, such as adventure footwear or horse-riding boots, as an example.
You may even be able to access finance should you need additional equipment and infrastructure, provided you can prove a strong business case.
Have a look at www.investmentincentives.co.za for some possible sources of funds.
- Fin24
Share your experience of setting up a business or simply ask a question. Our business panel can put you on the right path.
I have been a local footwear manufacturer for the past 15 years. The last three years have become so seasonal that it is almost impossible to sustain my business.
I am dependent on the chain stores to help, but the same fate has befallen me again this year. I need to diversify to sustain the business for the first six months.
Can you help?
Business development consultant Anton Ressel responds:
You have not said what the nature of your product is in terms of the footwear you make, so it is difficult to advise on possible diversification options.
However, as a footwear manufacturer you do have access to machinists, and I assume you can work with leather.
You may look at adding bags and wallets to your line, or similar leather goods - new lines that do not require too much product development, which is costly.
Alternatively, you can try and explore some more niche footwear markets that are usually less seasonal, such as adventure footwear or horse-riding boots, as an example.
You may even be able to access finance should you need additional equipment and infrastructure, provided you can prove a strong business case.
Have a look at www.investmentincentives.co.za for some possible sources of funds.
- Fin24
Share your experience of setting up a business or simply ask a question. Our business panel can put you on the right path.
