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This businessman is breaking down the barriers that keep new entrepreneurs in the early stages.
Johnny Hackett Jr. operates The Factory, a pioneer of co-manufacturing spaces for business owners to create products, in Raleigh, North Carolina.
according to CBS 17this space supports new business owners who may not have enough space in their homes to complete their ideas.
“Traditional coworking spaces are office spaces and internet spaces. [access]on the other hand, many business owners needed a place to create,” Hackett said.
Hackett observes the high costs other spaces charge for renting space and equipment, so the factory offers a more affordable alternative.
“That hurdle has been removed, and another hurdle has been removed in terms of access to this equipment needed to create this product,” said Hackett.
Hackett’s Factory provides business owners with the equipment and computer software creators need to bring their ideas to life. This space includes tools for candle making, cosmetics, t-shirt printing, photography, or digital design work.
“As a new business owner with a new idea, you can come here and get that idea off the ground,” Hackett said.
In addition, factory staff are equipped to use the equipment to provide training to those who need it.
Hackett also enables entrepreneurs to sell their products directly from Black Friday Market storefronts.
Businessmen shared statistics that reflected the factory’s performance and success. The Factory has supported nearly 100 companies in less than a year since its opening date, he said. Within the past four months, the Factory entrepreneur has sold over $250,000 of his product.
according to Shopify Research shows that business owners spend an average of $40,000 within the first year of launch, with the bulk of the money being spent on space and equipment.
Factory offers business owner memberships for a smaller fee.
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