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I've tinkered with Factories a little and they really aren't worth the investment. Importing products cost almost the same to the penny so why buy all that equipment train all those workers but not make any extra money. In the end you still have to import the raw materials so coordinating imports into your supply chain doesn't go away.
I personally would say they aren't worth it yet, especially for cheaper products.
I was looking at expensive jewelry tonight and doing some rough calculations. I need roughly, to cover spikes as well, 1500 expensive jewelry per day to completely eliminate importing it altogether. This would likely require two factories and a large upfront investment. And it wouldn't even cover future growth.
Keep in mind I've seen devs state that factories aren't meant to completely replace imports, just supplement them and also help with product outages. I've only done one factory so far with clothes and jewelry and did have one clothing outage after and my racks never went empty, but that's also partially cause I import more than I need.
They are kinda fun to build though if you like that sort of thing.
IMO this factory mechanic has been poorly implemented. Using the logic that factories are only meant to cover shortages doesn't make sense if this game intends for us to build a business EMPIRE. An unprofitable factory is a bad business investment not to mention the time it takes to build a roll out factories. Manufacturing is mostly all about efficiency but in this situation raw materials cost the same as the finished wholesale products so it doesn't matter how efficient the manufacturing process.
I would have liked to see factories be a more realistic and logical part of the game..