Boxing 101: How to make a success of your corrugated boxing business

A booming business

The eCommerce boom has had a ripple effect and those benefiting are in the boxing business. The corrugated boxing business has seen massive growth due to the demand for shipping boxes to service the eCommerce industry. The industry made $67.3 billion in revenue over nine months in 2020 according to an IBIS World report. The news is even better, as the industry is expected to grow at a CAGR of 4.6% from 2021 to 2028.

Tips to ride the wave and succeed

Plan, plan, plan – setting objectives: Whichever stage you are at in your business, planning is vital for success.If it’s to set up your business or to grow and scale, a good plan goes a long way.Set your objectives, get a business strategist in if you feel you need help, but you need a road map to go where you have not gone before.

Initial investment – take the leap:To set up a turn-key corrugated boxing manufacturing facility takes quite a large investment to start.Specialized machinery is needed to produce quality boxes.You will find that taking the leap reaps its rewards, as after this initial investment, operating your facility and producing the boxes is cost-effective, and demand is high.
The demand – take advantage:Getting into the corrugated boxing industry now is a great idea due to current high demand.For those already in the industry, taking advantage of this high demand is important. One of the major advantages of high demand is that you can use this to your advantage in your pricing strategy and be the envy of business across the board.Most businesses are having to discount to try to increase demand.
Effective Marketing – it can’t be ignored: There are many ways to market your business and it’s best to hire a professional for some advice.There are some great unique selling points for corrugated boxing that should see your business thrive, like:
●Corrugated boxing is eco-friendly and there is a solid recycling market.
●Corrugated boxing provides excellent protection for its contents, absorbing shock.
●Corrugated boxing is cost effective to manufacture.
Learn your trade – become a master: From paper mills to recycling plants, you have to know your corrugated stuff.Learn everything you can about the industry, become a master of your trade and it will take you far.As confucius said, learning without thought is labor lost, think about what you are doing every day and how you are doing it and you will reap rewards.

Look after your finances – count your beans:  Make sure you know what’s going on with your businesses finances at all times.  Expenditure and income are a tightrope you have to walk to see profits.  Price with accuracy and spend cautiously.

New Ideas – you are the best person for it:  New ideas are always a great way to diversify or scale your business.  If you think of something great that has value to the industry, patient it and you could soon be profiting from your inventive mind.   As you are involved in the business, you are the best person for it.  If you have a great idea but you are not sure your  idea will work, there are business consultants who can assist you research and plan.

Service sells – don’t let it ride:  Offering value and high standards of service to your clients is important across the board.  If people get good service they come back, repeat clients are more cost-effective to keep than it is to find new clients.  Think of new ways to offer brilliance, you will see the rewards.

Keep an eye on your competition – it’s a rough game:  Keeping a constant eye on the competitive landscape is important for the longevity of your business. 

Good people make a great business – it’s up to you: Invest in your employees well-being and you will be rewarded with their great contribution. The people make the place and as their leader you direct the corporate culture that develops and therefore the success your business sees.

Understand your market – you are selling to people:  Understanding your market is vital for success. If you are planning to sell your corrugated boxes to them, you have to understand how to do so. Learn what drives them, what makes them want to buy from you as opposed to anyone else.  Conduct some market research if you feel lost or just talk to them to try and get a feel for what they want and how they want.

Establish a great supply network – suppliers who are on your side:  Your suppliers are vital to the success of your business and your supply network determines if you can and how you service your clients and run your business.  You need suppliers you can trust.  They have to be willing to go the extra mile when you need them too.  A corrugated boxing equipment supplier like CorroGo sends this message in their communications and you will go a long way with suppliers who are invested in you and your business.   

Work.life.balance – you are your most important resource:  Keeping a good work/life balance is important for anyone, but as a business owner you have so much invested in your business that it can be more difficult. Make sure to take some time off to recharge, but make sure to get the work that is needed done.  Spend some time with your family or take a trip once the work is done, you will be that much more ready to take on new challenges.

Into the future

With growth rates like the industry is seeing, there is a prosperous future for all involved.Look to the future with positivity, maximize on opportunities and your business will grow from strength to strength.Stick with it and you will thrive.