To start a small woodworking business at home is both rewarding and challenging, especially if it is a one-person job. It is not just about making wooden objects; it also requires planning and research in business management and marketing. We must say it is a great way to turn your hobby into a money-making venture.
What’s the bottom line?
First, you need to decide how you want to run it; you can take orders from customers, or you can make your original models and sell them. The next step is to determine how will you sell these things. There are several ways to do that such as through your shop or online, garden and home stores or trade shows.
Here’s the deal:
It is crucial to decide in advance so you can create marketing materials and make contacts needed. Get permits and licenses as required by county or city. The last and most important thing is to set up your shop.
If you are interested in starting a woodworking business from home, we will show you how to do that in this guide. Follow these easy steps, and you will learn how to do that even if you don’t have experience and with little money.
Without further ado, let’s dive in.
“A good plan is like a road map: it shows the final destination and usually the best way to get there.” says H. Stanely Judd, the author of ”, Think Rich’’.
Before you get started, you need to make a plan on how you want to run your firm. The best thing is to create a list that contains every little detail of your shop that you will need from the beginning.
For example, goals you want to achieve in the next two years; how you intend to market your products; where you will purchase a large quantity of wood; what tools you will need.
It is very helpful in deciding what to expect, what will require this business, how to avoid some expensive errors, and how would you like to start.Most successful people claim that they had a business plan before they get started. Therefore we suggest to take your time and make a strategy.
It is proved that this business model is successful for most woodworkers because it’s easiest to run, establish and manage. Bear in mind that this is also hard work. You will operate in several capacities such as being accountant, admin, sales person and craftsman.
Starting this kind of business model is recommended and most common way. It has many advantages, and it is easy to set up.
The first one is to look at the market supply and demand. And the other one is to look at your skill set. That is the best way to decide what product you are going to cater.
For example, making wooden wine and beer shelves, basket weaving, jewelry box, device stand, hardwood chopsticks, candle holder, craft supplies, carpentry, cardholder, chip carving, cabinet making.
These ownership strategies both have their drawbacks and benefits. If that is the first time you own business, it makes sense that you buy a franchise then to build a new one. That is because these existing woodworking firms already have required equipment.
But, bear in mind that it is essential to find a company that closely matches your professional objectives and ownership philosophy. Franchising makes everything easier, but it is not a recipe for guaranteed success. So, you need to be careful what are you looking for and plan.
When opening a firm, you need a business license. Depending on whom and where you sell, you may need several permits. To find out what documents you need, check with your city or county business license office.
Woodworkers use all types of machines when creating different pieces of furniture, toys or some other objects.
For example, wood fastening devices, planers, sanders, high-quality routers, shapers, lathes, drill presses, milling machines, and saws. To verify the dimension, they use rule, caliper, and template.
To connect the parts, carpenters add adhesives and fasteners to form a product. For doing the right job, they place specialty products for stone, electrical components, metal trims and glass and set up hardware such as drawer slides and pulls. After that, workers use machines to sand and finally coat their wood objects with a varnish or lacquer.
The most important thing when starting a business is to convince your costumers to purchase your product for a reasonable price. For that, you will need a good marketing plan. E-newsletter, social media marketing, and a business website will have a huge payoff for your new job.
You need to value and understand the importance of the internet. Always make a portfolio because nothing can replace a good picture of a project you are going to make. You can also make one and place it on your firm website so that other users can see what products you can make.
Starting a small woodworking business from home is an exciting journey. Follow these easy steps and learn new interesting things that will help you get successful.