Woodworking: http://bit.ly/WoodProfitSecrets -- Starting your own woodworking business and making it successful is exciting! It can change your life in more ways than one.
But the truth is, it's far easier to fail in this business - so you need to learn all you can and proceed with caution. It's my sincere hope that this simple video helps you.
Whether you want to build a full-time business or make money woodworking on the side for now - put these ideas to use and they will help you get there.
1. Get Clear About The Type of Wood Products You'll Provide. Don't try to be all things to all people. But don't miss out on potentially profitable ideas either. The point is... you need to know what kind of work you can easily handle, given your current facilities and woodworking equipment. Resist the temptation to buy additional machines and tools right away. Conserve your cash because cash flow is vital to a new business of any kind and especially in the woodworking industry.
2. Get Customers First. You're really not in business until you have a cash-paying customer and therefore, this should be your number one priority when starting out. Marketing is the key to every business. You need an effective way to reach potential buyers and a selling strategy that works. Maybe you have retail outlets lined up who have agreed to sell your products from the floor. Or, perhaps you're planning to sell your wares at craft shows, flea markets and consumer shows like the Home Show. If that's the case, be sure you have enough shows lined up to support on-going sales for your business because, without consistent outlets to sell your goods, you're going to find it difficult.
3. Start From Where You Are. If possible, begin your business from the garage or basement workshop to keep costs as low as possible. A separate building, such as a detached garage or large shed works best. Dust is a necessary by-product of working with wood, so having a shop that's physically separate from your living space is best. But a basement workshop can do temporarily until you can move your business to the next level.
4. Bootstrap Your Way To Success. Start small and grow. If you cannot work from home, consider alternate possibilities like other people's garages, sheds, barns - even reclaimed "portables" that once served as classrooms. One fellow I know was able to rent a portable classroom located on a property on the outskirts of town, as his wood shop. Even though the building was slightly run down, it was spacious, bright with natural light, and dirt-cheap. It served him for several years until the property owner sold. That's when my friend was forced to lease a unit in a commercial complex.
5. Systemize Your Operations As Early As Possible. The better you're able to break processes down into step by step methods and perform them efficiently, the more money you'll make in the woodworking business. If you're planning to create products in any quantity, it's vital to the success of your enterprise that you adopt a "production" approach.
If you're making small craft items, focus on one specific item at a time and figure out how to make a manageable number of them efficiently. "Systems" are the solution to virtually every aspect of production. Planning helps you get the numbers right, so you don't make more products than you can easily sell. But you don't want to make them one at a time, either - unless you're running a custom furniture or cabinetry business. I don't recommend that route for beginners, it requires plenty of experience as a custom cabinetmaker.
Take each design and create a detailed drawing. Then break the product down into its component parts by identifying every piece of wood, hardware, and any other materials used. It's also important to have preselected wood stains and clear coat finishes. When you know exactly what goes into a product, you can very accurately determine your cost of materials. Labour can be measured by the time you spend on any one design.
A woodworking business of your own can be a beautiful thing. And it can start making you money from the beginning if you do things the right way.
While I struggled to build my woodworking shop to six figures, it can be a lot easier for you. Thanks to the internet, your learning can be way faster. You can spare yourself the mistakes I and many others have made by simply learning from the best courses available.
The one I recommend can be found by clicking the link in the description, just below this video. You'll save yourself a ton of time, money, and aggravation too.
Be better informed about how to start making money woodworking by checking out the link above. I never had this resource when I was in business. But I would have paid ten times the asking price If I only had the opportunity.
https://www.canadianwoodworking.com/get-more/part-i-follow-your-dream -- follow your dream
http://woodworking.about.com/ - some basic and more advanced woodwork projects