The government reported that there was a 2% increase in fatal work injuries in 2019 from 2018. This number seems small. But if you convert it to whole numbers. It would amount to something substantial.
In this case, why don’t you tap into this phenomenon? But you might think that the numbers are still not large enough to sustain an industry. How can you compete with the already existing businesses?
These are very valid concerns. But they should not get in the way of a chance to earn a lot of money. You can offset the risks by implementing strategic precautionary measures. Let us talk more about this profitable opportunity.
Inventory
The great thing about joining the protective gear industry is that you already have an existing market. You can supply hospitals with their PPE needs. Considering that the demand for medical protective equipment is high, you can make a killing with this.
You might have some concerns that this trend will not continue for a long time. After all, roughly 50% of the population is already inoculated. This number might mean that we will achieve herd immunity very soon. Dr. Anthony Fauci even said that the virus would be under control by Spring 2022.
If this is the case, you will have a difficult (and shorter) time to compete with existing businesses. Do not fret! You can also tap in other options. You can capitalize on the lifting of domestic travel restrictions.
With this said, you can tap in the sports protective gear. After being cooped up for roughly a year, many would like to get some physical activities. They will likely drive to get some action.
If you are near a ski area, you might want to get more of a Giro ski helmet. This item will sell out like pancakes, especially now that people will want to stretch their legs. But if you are far from one, you can stack up on other sports protective gear.
Brand
Your other concern about setting up such a business is competition. You must think of ways on how to carve a niche for your business. You can establish your company by investing in a customer service training program.
This tip might sound strange because you are just catering to a small community. But establishing a brand that is synonymous with excellent customer service will make your company stand out. It will also become your competitive edge.
Forbes published an article saying that people are willing to pay extra for excellent customer service. You can tap into such a demand by training your staff to go the extra mile for the customer. Not only will you get more money, but customers will remember your company. Thus, you are building loyalty.
Employee Satisfaction
CNBC recently published an article stating that small businesses are finding it hard to find employees. All interviewees bemoaned that they have to work with industry neophytes who do not have the needed skillset. Take up the challenge!
This type of employee is what you need. You will be able to train them to fit your industry’s needs. But doesn’t this take a lot of time?
Training will take time. But you can offset it by empowering your employees with a system that gives them access to what they need in real-time. Doing this will lessen frustration. It will also encourage employee loyalty.
Marketing
Lastly, you need to get customers inside your premises. First, you need to ask for the professional help of an SEO company and the power of the word-of-mouth marketing strategy. The former will establish your marketing scheme. Then the latter will get people to notice it.
Some entrepreneurs make the mistake of dismissing the importance of an SEO company. They think that they can get away with the task by creating their website. But the creation of the website is not the goal of the SEO company. They aim to get traffic inside that website.
First of all, they will create a professional-looking website. The result should encourage other corporations to get their protective gear from you. The website should give some semblance of respectability. Thus, allowing you to supply medical-grade PPE to hospitals.
Secondly, they will create blogs. This type of article will boost your online presence. Thus, it will increase the traffic to your website.
Building your business empire from the ground up takes a lot of work. But taking these steps will ensure that each stage is well-placed. It will protect your company from eroding from the inside.
These steps will not only help you create your company. They will also help you weather the chaotic pandemic economy. It also allows your business a painless expansion in the future.
