This businessman is knocking down barriers that hold new entrepreneurs back in their early stages.
Johnny Hackett Jr. runs The Factory in Raleigh, North Carolina, a pioneer co-manufacturing space for business owners to create products.
According to CBS 17, the space supports new business owners who may not have enough space at home to complete their developing ideas.
“Traditional co-working spaces are more for the office space or internet [access], whereas many business owners needed a place to go create,” said Hackett.
The Factory offers a more affordable alternative, as Hackett observed the expensive costs other spaces were charging to rent their spaces and equipment.
“That hurdle was removed, and then we removed another hurdle in terms of accessing this equipment that you need to create this product,” Hackett said.
Hackett’s Factory offers business owners the equipment and computer software necessary for creators to put their ideas to work. The space includes tools for candle making, cosmetics, printing T-shirts, photography, or working in digital design.
“As a new business owner with a new idea, you can come here and get that idea off the ground,” said Hackett.
Additionally, the Factory’s staff is equipped to provide training for those who need guidance using the equipment.
Hackett also allows entrepreneurs to sell their products directly out of his Black Friday Market storefront, while others can house their products with Hackett even though they are produced in other spaces.
The businessman shared statistics reflecting the Factory’s performance and success. He said The Factory has supported nearly 100 businesses in less than a year from the opening date. Within the last four months, entrepreneurs of the Factory have sold more than $250,000 worth of products.
According to a Shopify survey, business owners spend an average of $40,000 within their first year of launching, with a great percentage of their funds going toward space and equipment.
The Factory offers business owners membership for a smaller fee.
