Starting A Robotics Company – Here Is What You Need To Know

Right now, it’s a great moment to start a robotics business, because the market offers you affordable components, competent workforce and open-source code. Robots can be used by different types of customers, from clients who need robots to manufacture their products, to clients who need robots to help them with house chores. Because society has registered a shift towards automation, robotics companies can earn great income if they manage to bring the right products on the market.

If you are an individual who has a background in product development, design, electrical engineering, physics, electronics or other related domain, this business is the perfect one for you.

Starting a robotic company

Here is a collection of do’s and don’ts you should follow to make sure that you will start a successful company.

Do – understand the needs of the market

You will design products that will address a certain category of clients, so you have to understand their needs and requests. You will have to decide the type of robots you want to manufacture. At the present moment, the market needs different types of machines.

Part of the market is looking for large robots that are able to build appliances and automobiles. If you produce them, you will have to collaborate with companies focused on producing large items like the automotive brands. They need armies of robots to complete their operations and to replace the human workforce on the activities that would pose danger to their health. For these clients you will have to produce reliable robots who are able to perform the tasks that stand at the base of a business.

The other part of the market is looking for robots that can perform repetitive tasks, mind-numbing actions that could drive a human worker to exhaustion. They have to be able to complete actions like basic assembly, basic inspection, loading and unloading products and so on.

All companies are looking for solutions to cut costs, and for the companies that have to operate in three shifts, in order to stay effective, finding them is vital. They are looking for robots that can perform a function perfectly, and that will do it at a lower cost than a human worker will.

Don’t – consider clever design an effective differentiator

You have access to knowledge and tools that allow you to experiment with the type of robots you are manufacturing. This can be both a curse and a treasure for you, depending on how you decide to use it. When creating robots that have to meet certain needs, their hardware and software are similar to the ones used by your competitors. Both you and your competitors are working based on the same information, and it depends on your talent to succeed to design products that stand out on the market.

You need to understand your clients’ angle and to put into your machines features that get you a real advantage. Do not try to bring on the market robots that are everything for everyone. Design products that have a definite aim, a public, and characteristics the buyers are looking for.

Girl and robot at a market

Do – engage audiences from the start

In order to get buyers, you need to engage your audience and the best way to do it is to promote your brand on channels they are using. Do not underestimate the rigor that goes in the process of presenting new products to the public. You bring on the market an alternative to an existing product because, let’s face it, the market is so saturated there are small chances for someone to create something innovative.

You have to make sure that when the robots are ready for sale there are already clients who are waiting to buy them because they find them to better suit their needs, than the ones of your competitors.

Use your creativity to engage your audiences from the early stages of creating your business. It does not matter if the robots are only sketches now, if you manage to attract attention towards your brand, people will wait for you to start producing the robots, to test and buy them.

Don’t – rush to manufacture the machines

You may find this piece of advice counter intuitive, but you should not use your resources to build a machine people don’t need. Manufacturing robots is more expensive than creating apps. Do not make the same mistake many other robotics companies make, do not jump into building a robot without understanding how the clients will use it, and if they need it.

Do not start the manufacturing process before having complete knowledge of the needs of the clients. Do you want to bring on the market a new model of an industrial robotic arm? Do market research to find out if there are companies interested to buy it. Make them an offer and establish a partnership before building the robotic arms. They are of no use if they are stored in your warehouse and you have difficulties in finding them a buyer.

Businessman is analyzing financial reports

Do – establish the costs of starting the robotics company

Launching any type of business implies numerous costs; you’ll need a production centre, an office, computers, tools, printers, high-speed internet, raw materials and many other supplies. You will have to make a detailed list of the expenses you have to cover during the first months of the business because you will start collecting income the moment you’ll put the robots on sale. Until then you’ll have to rely on your existing budget to cover all the expenses. When building the budget do not forget to include the expenses associated with hiring staff. If you can create the robots on your own, you can cut this cost from your list, but it will imply starting a smaller business than you’ve imagined.

Don’t forget about the taxes associated with starting a business. According to the specifics of the company, some taxes are personalised and you’ll have to research to find out what state and federal taxes you have to register for, before producing the machines.