Starting any business is not an easy task. But it helps when you have a talent for something noteworthy. With almost everything being made by machine these days, many people seek out artists who can make their projects unique. The challenge for the woodworker, who’s been doing it for years, is not in making their product but in marketing it and doing all the bookkeeping needed to start the business. You may need some help at first, but it will soon be as easy as staying organized.
The woodworking business is ideal for people who love doing handcrafted woodwork as a hobby. There are a lot of highly marketable products nowadays that make use of woodworking techniques. Furniture is a fine example, and hand-made wooden toys are becoming a market favorite. I suggest exploring this industry if you are looking for business opportunities and possess woodworking skills and talent.
Summary: Use your woodworking skills and start a lucrative business. The woodworking business is an enjoyable way to make money. This article also offers tips on starting and running a woodworking business.
Starting a woodworking business can be simple as long as you are armed with sufficient knowledge. Here are some pointers that may guide you as you embark on starting your own woodworking company.
- First, figure out what kind of items you want to specialize in, i.e., home décor, furniture, toys, etc. The supplies and equipment you invest in will rely primarily on the products you plan to produce.
- Second, look for a good supplier for your wood and equipment needs. Make sure the supplier you choose will give you the best value for money deal. Naturally, you know better than procure sub-standard materials. Doing so will vastly affect the quality of your products, and quality is one of the selling points in this business. Typically, you will need to buy clamps, a square, saws, tape measure, hammers, hand drills, and chisels.
- Third, look for space where you can work. If your operation is a small one, your garage or home workshop will do just fine. However, if you plan to launch a big business, you will need to rent space where you and your craftsmen can manufacture your merchandise. The additional cost for rent and utilities should be computed and used to consider when making your price scheme.
- Fourth, identify your target market and develop a promotional campaign tailor-fit to suit them. There are a lot of ways you can advertise your merchandise. You can post adverts on the internet, or local bulletin boards, on trade magazines, etc. The key is to establish your business in the arena and introduce your name to the market.
- Fifth, look for a plausible sales channel. A website is a good option because it enables you to reach a wider market. If possible, equip your website with e-commerce capability. Aside from this, you can also participate in trade shows, arts & crafts fairs, and flea markets, and so on.
- Sixth, expound, explore, and discover. Take a look at the trends. Take a look at your competition. Please make it a point that your products are better than theirs are. Don’t hamper your creativity and imagination. The best way to establish a niche market is to develop product designs that are uniquely yours. Remember to have these designs copyrighted so nobody else can use them.
- Seventh, in manufacturing your products, make sure you and your workers adhere to safety rules. You will be using sharp tools like knives and chisels to avoid accidents and mishaps, and always practice caution.
- Eight put your customers first, always. The success of a business doesn’t only depend on the number of customers you entice to your store. What matters is the number of customers you retain. Please keep them coming back by giving them the royal treatment.
What Do You Really Need To Start The Business?
As with any business, the key to starting up and successfully operating a woodworking business depends on having the appropriate tools necessary for the woodworking business. Whether you’re making furniture, signs, or carving figurines, having a place to operate your business and the tools to make your product will increase the odds of your success from the start.
Whether you need a business license depends on your business’s size, how you operate, and your particular state’s laws. If you operate your business commercially, you will need to acquire a state business license out of a commercial building. If your primary source of income is from flea markets and fairs, you may not.
Find ample space to set up a woodworking shop. The shop should be well ventilated to paint your wood projects, have plenty of outlets for operating your power tools, plenty of storage space, and room to work. If you work with larger tools, such as a lathe for turning furniture, you’ll need to figure that into the size of your shop. A pegboard hanging on the wall can be ideal for keeping your frequently used tools accessible and out of the way.
Woodworking Tools – Carving knives, a chainsaw, power carvers, chisels, saws, paint, varnish, paint brushes, sandpaper, and a workbench are some of the tools you will need. You may also want to get a large floor model lathe or at least a table model for working on large furniture pieces. Depending upon the frequency of your projects, consider keeping wood on hand for quick access. If you do, you’ll want to work this storage space into the layout of your workshop.
Finding Suppliers & Marketing Of Your Business:
Things you will need to start a woodworking business are fairly simple. You will need to know your state and local requirements for opening a business in the woodworking business opportunities field. More importantly, you will need to know what types of items you want to produce. This will have a definitive bearing on the supplies and tools you will need to have on hand. Also, think about joining a trade organization associated with woodworking. This can help guide you in advertising your work and shows and events to help showcase your finer pieces.
You will need a good supplier of various wood and wood handling tools. Though you should never use sub-standard materials, quality is especially imperative for toys, furniture, and other practical items that your clients will be using daily. A long-lasting product will get you plenty of referrals.
Once you have established a relationship with a supplier for your Home Wood Working Business, you will need to consider your area and your advertising. There are several ways in which you can market your products. Having a website to direct clients to for a glimpse of your products is a fantastic way to get your name out there and showcase your work. People who shop online will be quick to refer you if they have a pleasant experience and are happy with the purchase outcome. There are also more traditional means of sales in the Home Wood Working Business Opportunities field. Trade shows, flea markets, arts and crafts fairs, malls, and small outlet stores are all resources that need to be investigated. Marketing your custom designs to furniture stores and specialty stores is a great way to start your home woodworking business rolling. Make sure you do not over-book your business, however. You will need to maintain your level of quality throughout the sales process consistently.
Advertising your home woodworking business on the Internet, local bulletin boards, trade magazines, and the like will help you establish a reputation and make your name known. Going to arts and crafts shows, trade shows, and flea markets will aid in showcasing your work and increase your sales. All of these opportunities should be taken advantage of as often as possible to increase your profile and resume’. Entering contests in the woodworking trade will also help with referrals and increasing sales.
Don’t limit your imagination. Many clients may ask for custom work. Be sure when handling custom orders that the direction of the project is clear. There are design copyrights to be also considered. If a client has a copyrighted design that he would like for you to build, be mindful of that. However, you can also copyright your own designs. This could lead to increased revenues in your Home Wood Working Business. Fashion and home decor trends are on your side in this industry too. Beautifully crafted wooden bowls and home accessories are always popular. If you are interested in doing these types of small jobs, keep in mind that they are relatively inexpensive to ship and make great online products.
There is also the artistic side of the woodworking business opportunities field. Sculptures, frames, and other art objects can be sold as well as furniture. Your only limit in woodworking is your imagination and your bravery to try new things.
Woodworking can be a fun and lucrative career. The woodworker can create as not only a practical tradesman but also as an artist. If you have dabbled in woodworking, think of it now as a career. Woodworking can be a fulfilling and successful endeavor.
Evaluating Competitors & Getting Them To Work With You:
Long before you open a woodworking business in your town, it’s a good idea to see how many competitors you have. Use the link below to find competitors nearby. Enter your city, state, and zip code to get a list of woodworking businesses in your town.
Prior to opening your doors for business, be sure you fully understand the competitive landscape and where your new business will fit in.
Turning Competitors Into Collaborators
If you are seriously contemplating launching a woodworking business, you must learn from folks who are already in business. It’s improbable that the local competition will talk to you. It’d be crazy for them to teach you the business.
Thankfully, an owner of a woodworking business on the other side of the country can be a great learning resource for you after they realize you reside far away from them and won’t be stealing their local customers. In fact, they are often very willing to share startup advice with you. It can take a while to find an entrepreneur who is willing to talk, but it’s well worth the effort. How do you locate an owner of a woodworking business who is willing to talk to you but doesn’t live nearby?
Consider Buying a Franchise
Franchising is not a recipe for certain success but does make everything a lot easier. Before starting a woodworking business, you may want to assess whether franchising might make it easy to get started.
The link below gives you access to our franchise directory to see if there’s a franchise opportunity for you. You might even find something that points you in a completely different direction.
Important Factors You Must Also Consider:
When starting a woodworking business, your duties will involve finding value for money in raw materials, finding customers, making wooden stuff customized for them as per their needs, delivering your products to your customer’s place, etc. It is always good to know the area of woodworking that you would like to specialize in. For example, you can be a specialist woodworker in the home furniture, home décor, and wooden toys, and so on. Specialization always brings in more customers to your niche, and you can charge more for your products.
Sourcing good quality raw materials here is essential as it would, to a great extent, determine the quality of your finished products. So spend some time to find a reliable wood distributor who will provide you with a sufficient quantity of high-quality wood at a reasonable rate.
Where will you work?
If you start on a small scale, you can work in your home garage or workshop itself. However, if you plan to go big, you need to find a big place, rent it out or buy it and set up the necessary infrastructure for your workshop, complete with tools, transportation facilities, raw material storage area, finished goods storage area, etc. Either way, make sure there is enough room for safe storage of all your materials. Also, make sure that the working environment is designed ergonomically to increase worker comfort and productivity.
When starting a woodworking business, basic start-up costs will include setting up your workshop, buying tools like chisels, knives, and other required items, sourcing raw materials before your finished products, etc. If you are looking for big-scale operations, it would be good to invest in transportation facilities like trucks, bigger factory equipment like machine cutting tools, etc.
You also need to hire a few staff as per your scale of operations. Two each for transportation of raw materials and finished goods, someone to work on the wood finishing etc. would be a bare minimum requirement. For big scale operations, it is important to have good number of staff for each section like cutting, finishing, transportation, sales etc.
Starting a Woodworking Business Tips
- Maintain quality- In this business, quality of goods is the key. Never compromise on quality. Always hire high skilled artisans who do a great job in finishing the wooden products.
- Build a solid portfolio- It is good to set up a small portfolio of your products and display it to potential customers. Ensure that you show off all the skills of your business in the items included in the portfolio.
- Concentrate on one particular genre- Specialize your business in a woodworking niche and try to be the best in the segment. You will gain more customers and a reputation to keep your business flourishing.