Struggling manufacturing business
I own a family based manufacturing business in the electrical sector and we are slowly dying because our facility is maybe 15% utilized on a good day. I don't have the manpower to fully utilize because I can't secure the orders at the right price and short lead times
Price because our overheads are fairly high but significantly lower than most companies around us, because I had done cost cutting to the maximum. Lead time because we don't have the manpower to make it quick I am looking for an investment so we can bring in more people in the workshop as well as an sales/marketing team.
I am at my wits end here working every day doing 10 tasks like sales, procurement, logistics, scheduling, making the actual product itself. And I'm loosing my mind because I know the only way forward at this point is some capital injection so we can utilize our facility to its capacity.
Our overheads are roughly 18-23k which imo is crazy low considering this accounts for our current staff visa costs, accommodation, warehouse rent and renewal costs, license renewal costs,
Everything is tracked and a small buffer is added for safety.
We are currently operating on a roughly 2000 sqft operation here in Dubai.
If we were to downsize as per what is actually being used it would be maybe 300-400 sqft. Remaining 1600-1700 sqft is filled with machinery and etc that is collecting dust.
How do I escape this cycle of struggle, this is mentally draining me. And I have been doing everything I can