According to research giant IBISWorld, 3D printing and 3D printer production will skyrocket in the coming months as demand from the aerospace and medical fields gains momentum. Wise Business Plans, which creates plans for cutting-edge new and expanding companies in a variety of fields, is stepping up this year to help 3D printing-based businesses model success.
"From a medical perspective, in particular, 3D printing is such an incredibly exciting new tool," said Joseph Ferriolo, director of Wise. "Researchers are looking at applications that include everything from new implantable devices to actually printing the living framework for new organs. Companies with a solid plan for providing access to this new tool are strapping themselves to a rocket pointed straight up at the highest levels of success."
Ferriolo said a field like this one requires especially precise planning because, like the machines needed for the printing process itself, there are many moving pieces to such a company.
"If you're manufacturing 3D printers, you have to have a plan in place for staying up-to-date on the latest technologies and techniques," he said. "If you're the one doing the actual printing, not only do you have to keep up with changes in the technology, but you will be held to a tremendously high standard for the precision of the product you produce. Planning for a strong employee and management structure can be one of the first steps toward making sure you can meet those standards."
Investors will be looking to support strong company concepts, he said, but competition is fierce and expected to become even fiercer.
"If you plant to get into any part of the 3D printing industry, it's vital that you jump in now, and that you have a plan in place when you do," said Ferriolo. "Like the shop drawings for a new product, your business plan lays out the infrastructure for your company and provides a stable base to build on."
Wise Business Plans (wisebusinessplans.com), staffed with professional MBA writers, researchers and financial experts, is a trusted partner for businesses across a broad spectrum of products and services. Our mission is to empower our clients to make the best possible business decisions, boost company performance and facilitate their funding success by laying the groundwork for strong businesses that excite, inspire and retain talented and exceptional employees.