Starting a new business can be difficult, especially, when it comes to releasing a new product onto the market. The beverage industry is full of different beverages varieties, and it can be challenging to predict the success of your product. Due to these reasons, consumer analysis of your product can save a lot of money and time, in case the product would be rejected by the target market.
Benefits of Pilot Plants
- 1) Low financial risk. Producing huge amount of new product can increase financial risk due to unsold quantity. Also, filling a small quantity of new product can costs much less than starting with industrial production. Some entrepreneurs do not have enough money at first and must take a bank loan for production. Testing out your market with a pilot production can help to avoid loans with high interest rates due to small investment requirements.
- 2) Low minimum order quantity. Not knowing whether your product will be successful or not is a normal thing. Before releasing a huge quantity of your product to the market, firstly it would be smart to test it. Low minimum order quantities give you the opportunity to see the reaction of your target market with lower investments. After analyzing sales results, it is much easier to make decision whether the product is suitable for your market or some changes have to be made.
- 3) Feedback from consumers. Product is created in order to satisfy the consumer. Any feedback has a huge value. After gathering feedback from consumers, it is much easier to make needed changes for your product before starting the industrial production.
For more information on MyDrink’s small scale pilot bottling services, contact us today.