A start-up is a business initiative wherein one or more entrepreneurs work with a common aim to develop and advertise a service/product that is in demand among consumers. Building a start-up isn’t easy and requires ample market research, mattress reviews, and correct execution of steps.
The mattress is one of the commonly used household products that will stay in demand for several years to come. If you are planning to set up your mattress manufacturing company, then you have come to the right place.
In this article, we will discuss simple steps in which you can start your own mattress manufacturing business.
What Makes Foam Mattress Production A Lucrative Idea For Start-Ups In 2021?
The production of foam mattresses is considered to be a good manufacturing idea for startup firms due to the below reasons:
- Massive Demand
Foam mattresses are considered to be the top-rated mattress as they offer the highest level of comfort to the sleeper. Due to this reason, their demand in the market is high. Furthermore, these foam mattresses are more affordable than spring mattresses. So, their affordability gives them an added advantage in the market.
- High Scope Of Revenue Generation
Due to high demand in the market, foam-based mattresses have the potential to earn huge revenue in the market.
- Expansion Of Customer Base
Foam-based mattresses offer the right sleep experience that the customers expect from their mattresses. Due to this their customer base is large and sees an expansion continuously.
What Goes Into The Manufacturing Of A Mattress?
A start-up should know the steps that are involved in mattress production:
- Designing
- Obtaining Raw Materials
- Manufacturing the mattress with the modern technologies
- Quality Control
- Effectively marketing it on several eCommerce sites
What are Aids Offered by the Government To Start-Up Firms?
To support start-up businesses in their development and expansion, a majority of companies offer monetary aid to start-up firms. This assistance proves to be significant for people who do not funds to finance themselves.
In The United States, there are two major grant-based programs run by the government.
- Small Business Innovation Research
- Small Business Technology Transfer
US Small Business Administration is the governing body that offers these programs to start-ups. They serve as an important source of investment capital to fund their business at the primary stage.
Federal agencies fund both of these programs with more than $100 million as their R&D Budget. They follow the government instructions to participate in the above-mentioned programs through money and offer assistance to small businesses.
Step-Wise Instructions To Create Your Mattress StartUp
If you are planning to start your own mattress selling business, then the below steps will give you an idea of how to go about it.
- Name Your Brand
The brand name holds a lot of significance as it represents your business identity. As customers relate to you with this name and it has to create a good first impression. So, here are a few things that you should note when choosing a brand name.
- Choose a catchy name for the mattress brand that is easy to remember for the customers.
- The brand name should also be such that makes you stand out in the mattress industry.
- Choose a name that is easy to spell and remember for your customers
- Check the availability of the domain name. If you find that it is available then do not delay in registering it. When registering the domain name, .com names are the very most common to remember. However, if you do not get it, then you can try other options as well.
- Check whether or not there are social media handles available.
Create A Slogan For The Mattress Brand:
The second step is to create a slogan for your brand that will help in forming the right advertising and marketing strategy for a business. A slogan describes the advantages of a service or product offered by a business so it has to be attractive and catchy. When identifying a catchy slogan name, make sure it resonates with your audience.
Get Feedback
Ask your family, friends, and your target market about how they like the brand. Based on the feedback, carry out any necessary enhancements.
Conclusion
With the rising number of millennials, a massive spike is seen in the demand for bedding and related accessories. Production of foam mattresses is an excellent business idea for a start-up with below $50,000 as the initial budget.
With only a few reputed companies in this sector, a start-up in foam mattresses sees immense potential for new businesspersons. The above information will help you build your unique mattress brand easily.
