So the economy is officially on it’s arse still, the worst recession in 50 years according to those that know these things. I am listening to one guy on the radio now as I write this blaming the weather, probably one of the same pasty faced quilts in red braces that was telling us that it was all our fault in the first place, for putting the cost of our caravan weekend in Rhyl on our credit card. Other experts offered a more plausible view that a sharp downturn in the construction and manufacturing sectors was to blame. Now I imagine for most people reading this that may not be the news they wanted to hear. The vat increase, very little in the way of grants available and the increasing difficulty in raising finance have all contributed to a difficult period for most small manufacturers, it’s no wonder most are struggling. There maybe however some hope.
One area of manufacturing that is growing is the hand made bicycle industry. Now I am not talking about the type we used to chop up and stick a pair of cowhorn handle bars on like when we were kids. These are mostly bespoke creations built to the customers spec. The customer gets to choose the height of the frame the material it’s made from and all the extras like wheels and gearing etc. Now as you’d expect all this doesn’t come cheap, prices start from a few thousand pounds to tens of thousands. Now why in this day and age when most people haven’t got a pot to piss in would anyone want to spend that much money on a bike when they can go to Halfords and pick up a grifter for a couple of ton. Maybe because production line restrictions aren’t exactly what they want. And there are still plenty of people who have got pots to piss in, probably lots of pots cast in 24 carat gold and big enough to empty a bladder of Dom Perignon in, who know exactly what they want and don’t care how much it costs to get it.
Now unless you’re a bike builder you might not think this is that relevent, but hear me out. For Halfords read Wickes or B&Q. Most have us have heard someone say that so and so only costs such and such in the garden centre when enquiring about a job, I bet it does, it’s most likely not a patch on what you make your self. What I’m saying is you know the value of your own work. If you are getting a lot of customers asking to make them something they have seen imported from the far east at a fraction of the cost you can even get the materials for, then you are appealing to the wrong market. Attention to detail and craftsmanship over high volume productivity should be your main focus. Make sure people know they are getting a prestige product, bespoke and unique to them. If people want something enough they will pay well for it.
By the way I Just noticed todays other big news story £13 trillion hidden from tax man by global elite in offshore accounts, still we keep heating and beating eh.
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