“If you always do what you always did, you’ll always get what you’ve always got.” – Henry Ford
Manufacturing is one of the most valuable business industries in America. There are industries more popular and flashy at the moment. But the backbone of this country has always been our ability to innovate in the world of manufacturing products and services.
We add value to the raw materials extracted and imported into the United States, creating job markets and niche industries. And it can be argued that our country does it better than any other country in the world. The manufacturing industry is moving at a more dizzying pace than ever, with new innovations being introduced every day.
And new innovations result in old equipment, tools, and technology. If you’re keeping up with the pace, innovating within your market, and updating your manufacturing capabilities, then you will soon be asking yourself this question. “What should we do with all of these machines, tools, and equipment?” If your company is getting out of the manufacturing world for any reason, you’ll be asking yourself the same thing.
In this article, we’re going to talk about 3 types of manufacturers that are poised for great equipment sell-offs and what the best venue for selling your equipment will be.
A note: Almost any type of manufacturing equipment can be very valuable on the resale market. You just have to get the venue right. For brevity, we are only focusing on three types of manufacturing in this article. But, combined with the venue we’ll tell you about, you stand the chance to see strong results from selling equipment for any manufacturing niche you work in.
As a great case study, we’ll focus on one state in particular that has made massive strides upward in the manufacturing industry. This will give you an idea of how much of an impact manufacturing has on our local economies. And because of the popularity of these markets, if you’re company operates within any of these, you’re poised to see some robust income if you ever need to liquidate your equipment.
Our Case Study State: Minnesota
First, we’ll review some numbers the manufacturing industry generates in the state of Minnesota. They’re pretty amazing. This will also help us understand the opportunity available for manufacturers who need to get rid of their machinery, tools, and equipment.
Did you know?
- Minnesota has over 8,300 manufacturers creating various products and goods.
- Minnesota is exporting over $120 billion annually in manufactured goods and sent over 1,000 different types of products to over 200 countries.
- 17 Fortune 500 companies have their headquarters located in Minnesota. Cargill, the nation’s largest privately held company calls the state home. Other Fortune 500 manufacturing companies who have set up headquarters in Minnesota include 3M, General Mills, Ecolab, Land O’Lakes, Hormel Foods, Mosaic, St. Jude Medical, and CHS.
- Small manufacturers are also welcomed by the state with venture capital, special incentives, and various forms of financing available.
- From a start-up standpoint, Minnesota ranks in the nation’s top 20 with nearly $1 billion in venture capital investments going into manufacturing each year.
(Case study info provided by Enterprise Minnesota.)
So what are the hottest manufacturing markets in Minnesota?
- Computer and Electronic Products
Computer and electronic products (i.e. medical devices, computer components, communications equipment, etc.) are the top manufactured products coming out of Minnesota. If you are working in this space, you know how competitive this market tends to be. If you’re thinking about upgrading, merging operations, or getting out of the computer and electronics business altogether, then you’ll want to stay tuned for your perfect selling venue.
- Food Products
Food products come in second. Minnesota is a national leader in the meatpacking industry and a leading producer of flour. The state also stands amongst the leading milk, butter, and cheese production states, as well as being a top producer of frozen and canned vegetables.
Dairy products, cattle, and calves are also very important sources of revenue in the state. Minnesota is a leading milk-producing state, most of which is converted into butter and cheese.
Livestock and livestock products account for about half of the state’s farm income. Minnesota’s most valuable livestock products are hogs. Pork makes up 18% of the state’s total agricultural revenues. Minnesota is a top 3 national hog-producing state. It is also a leading producer of eggs and turkeys.
Regardless of what type of food product you are producing, you’ll be in a hungry market if you ever need to sell your equipment.
- Machinery Manufacturers
The manufacture of machinery (i.e. agricultural machinery, metalworking, heating and cooling, machines for making microchips, etc.) rounds out our top 3 most popular industries in the manufacturing sector. This is always a very popular resale market.
Though it ranks 3rd in popularity, it may be valued as the most valuable of them all when it comes to reselling. If you ever find your company in a place where you need to sell machinery manufacturing equipment, then you may be in the best luck of any respective industry.
And we shouldn’t forget all of the other niche, manufactured products in the state. Some of this list includes: cans, stampings, paper products (adhesive tape), printed materials (commercial print shops, newspaper and book publishers), transportation equipment (automobiles, trucks, buses), aircraft parts and wood products (plywood).
So what should I do if my company needs to sell our equipment?
Great question! There is only one venue you need to consider if you are selling manufacturing equipment. And in that venue, there is a single team that is leading the way. Our team is geared towards maximizing revenues and liquidating equipment. Our experts use sophisticated marketing strategies to find the right buyers for your inventory. We successfully work with “end of the month” timelines. We remove hazardous waste. We offer turnkey clean-up services that get your building back to its best condition. And for those of you needing to liquidate older equipment and free up some space in your plant, we know how to reclaim your square footage!
We are Auction Masters. We’re able to help you sell your manufacturing equipment in a number of ways. We can accommodate online auctions, on-site auctions at your place of business, or we can create a return on your investment by selling your business tools at our facility. No matter how niche your equipment is, we can help you sell it. Choose Auction Masters and you won’t be disappointed.