Boost Your Bottom Line as a Shed Manufacturer
Shed builders across America have all experienced the same thing over the last decade. There have been increased labor costs, increased competition, permitting issues, the economy’s ebb and flow, and for many small manufacturers, the pains of growing your business.
Not all shed manufacturers have survived. You are likely one of the survivors who have adapted through continued innovation, such as adding rent-to-own, adopting cost-saving strategies, and adjusting to the market and its ever-changing environments.
In spite of the challenges of the last decade, the shed industry is larger today than ever before, and it is growing at a nice pace. Innovation and educating the public continues to fuel demand for these structures we used to call mini-barns.
Shed builders all across America continue to look for ways to cut costs, increase efficiencies, and maximize profits. They plan to not only survive the next crisis, but also make a nice profit after years of investing hard work in their companies.
What are successful shed manufacturers doing that is unique, boosts the bottom line, and is worth sharing in this column? At NBSRA we looked at manufacturers
across the country to find the answer to this question.
We found what may be one of the most overlooked, underutilized tools available for manufacturers in America— the economic development incentives offered by your county or city.
Most, if not all, counties and cities have economic development departments with multiple methods of incentivizing and attracting new manufacturers. Most of these incentives fall under one of these three categories: tax-related rebates, jobs credits, and upfront cash incentives. Because sheds are big-ticket taxable items, they are a nice target for sales tax-related rebates.
Question: How can I find out if my county or city has these programs?
Answer: Contact the city/county and ask to speak with someone in charge of economic development.
What if I am an existing business?
Many cities and counties not only have incentives for newcomers, but also incentivize existing businesses to stay and become profitable.
What is a typical length for these programs?
It is not unusual for these programs to be 5 to 10 years.
Your company may qualify for one of the many programs offered by your city or county. It is only a matter of discovering what it is.
This is just one of the many ways shed manufacturers across the country are thinking outside the box to not just increase the odds of surviving, but to become a contributor and solid player in local rural economies.