Content 1. How to Make Money With a Woodworking Business 2. The Benefits of Starting a Woodworking Business 3. Is a Woodworking Business Right for You?! 4. How to Control Your Woodworking Business Costs 5. Woodworking Business Plan
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1. How to Make Money With a Woodworking Business Running your own woodworking business out of your house can be one of the best jobs in the world. After all, if you have a knack for creative beautiful works with wood as your medium, and if you love woodworking, there is nothing better than putting your passion and talents to use in a money-making endeavor! Yet as great as such a business can be, it can also be rather frustrating, too. After all, this is not a salaried position, so finding stable income from this job can be a challenge. Here are some strategies you can consider for making money with your home woodworking business. Marketing A woodworking business is just like any other business in that you have to make an effort to market your talents and seek out clients. At one time, professionals such as yourself were limited in large part to working with local clients, but this has changed in recent years in large part due to the Internet. You absolutely have to have an Internet presence for you to make it as a woodworker today. Simply having a website isn't enough, though. You should be proactively marketing that site through search engine optimization, backlinking, blogging, and more. If you aren't familiar with these terms, you need to take time to learn. Your time will be well-rewarded. >>>For More Information Please Click Here!<<< Create a Backlog Now, in many businesses, a backlog isn't a good thing, but as a woodworker, having clients waiting for you to handcraft their pieces is absolutely a positive thing. This greatly reduces your downtime, which essentially means time when you aren't working on money-
making projects. The trick is to keep marketing and advertising for new business while you also work on existing projects. In your woodworking business, you constantly want be drumming up new gigs. >>>For More Information Please Click Here!<<< Ease Into It If you are just now considering starting a woodworking business, you should consider easing into the job rather than quitting your current job cold turkey. This will make the transition into this new line of work far easier for you. It can be difficult to work when you are stressed about paying bills, and the last thing you want is for your work to suffer because you aren't focused on it. It is often a great idea to get that great website up and running, work on your marketing efforts, and even pick up a few projects here and there while you continue working at another job at first. You will know when the time is right to make this new gig your full-time job. Getting started with a woodworking business can be a struggle, but once you get your name out there and start producing great works, you will find that it is easier and easier to get steady work. You will get plenty of work off of your website through your marketing efforts, and you will also likely get quite a bit of referral business, too, as your clients show off their hand-crafted pieces to friends and family.
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2. The Benefits of Starting a Woodworking Business If you are the kind of person who loves to work with wood, then you are not alone. Woodworking is a pastime of many people, but not everyone is aware that they can make money doing what they love. Starting up a woodworking business is just one of the many ways in which you can do just that. Below are some of the benefits to starting a woodworking business. Making Your Own Hours One of the biggest benefits to owning a woodworking business is the fact that you can make your own hours. If you are not a nine-to-five type of person, then you don't need to try and force yourself to be one. Simply follow your natural cycle and do your woodworking in your spare time. A home woodworking business could be the one thing that helps you fulfill that dream many people have of being their own boss. >>>For More Information Please Click Here!<<< Do What You Love to Do Have you ever worked at a job that you didn't care about? Perhaps it was an office job working for some big company, but you didn't really care that much about their products. Working in an environment like that can be depressing and generally makes you feel pretty badly about your life. Why waste any more time doing something that doesn't fulfill you as a person? A lot of people I know wouldn't be fulfilled in any job where they were working for someone else. You might be the kind of person who needs to be doing something tangible in a world that is quickly becoming bombarded with what is nothing more than data and intangible
work. You aren't alone in thinking this, and a woodworking business could be one of the only ways to get out. Set Your Own Prices When you work for someone else, and you are talented at what you do, you might be getting sold short. If you are a talented individual that creates, say, beautiful coffee tables, you can set the prices of those coffee tables based on how much work went into them. Don't sell yourself short and don't worry... people pay top dollar for quality workmanship. It feels awful to have something you worked hard on sold for barely the cost of materials, and what's worse is that you will not make a profit that way. Take some time to properly value your work and customers will pay the prices. >>>For More Information Please Click Here!<<< Never Work Another Day There is a saying that talks about when a person does something they love for a living, they never work a day in their life. This is true for those who use their hobby as their source of income. Setting up and running a good woodworking business can be a wonderful experience that will be both fulfilling and incredibly fun. If working with wood is something that you enjoy, then you should consider starting up a business surrounding it so that you can finally do something that you love and get paid for doing it.
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3. Is a Woodworking Business Right for You? A woodworking business is a time-honored business that is full of tradition and character, and for many people, this is the perfect business that allows them to express their creative side and support themselves with a great lifestyle, too. Yet unlike many businesses, this isn't the type of job where you have a sure and steady paycheck coming in regularly, and it is hard, hands-on work, too. Clearly, this is not the best career choice for some people, so how do you know if it's right for you? Here are some considerations to keep in mind. Artistry and Creativity If you run a woodworking business, you absolutely are an artist who is making a living off of your creativity and works of art. The wood is your medium, and you turn it into anything and everything you want that wood to be. Yet to run a business, you have to cater to clients, so you don't typically have free rein with your creations if you want to make a decent or even lucrative living. So in order to be successful at this job, you have to be able to listen to what your clients want to purchase from you, be able to sketch conceptual drawings, and then turn those drawings into beautiful, hand-crafted works of art. >>>For More Information Please Click Here!<<< A Business Mind Starting a woodworking business is hard work for sure. You will likely start with no clients, or if you are lucky, you may have a few clients lined up when you embark on your big adventure into running your own home woodworking business. From that point, you absolutely have to have a business-oriented mindset if you want to be successful. As with any business, marketing, customer service, and more will come into play. Luckily, with the Internet available to
woodworkers these days, you can draw from a statewide, national, and even international client base. However, you do have to have the marketing savvy to put that huge market potential to work for you. Self-Starter Anytime you work from home, with a woodworking business or another type of business, you absolutely have to resist that lure to goof off, waste time, and just not work on what needs to be done. To be successful in your business, however, you have to constantly be working at it. You have to make an effort to complete your projects with beautiful attention to detail each and every time, and within the timeframe you have promised your clients. In addition, you will want to constantly be trying to drum up new business when you have a lull between projects. As you can see, your job is never done! With these points in mind, you can see that running your own woodworking business is not for everyone, but for those unique individuals who match the description described here, this is an excellent job opportunity that is filled with potential. There is nothing more satisfying in life than doing something that you absolutely love to do and to get paid for doing it, too!
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4. How to Control Your Woodworking Business Costs If you're in business, whether it be a home woodworking business or any other form of business, you need to know how to calculate all your operating costs. Many home businesses overlook some important "costs of doing business", and you want to ensure that you achieve an in-the-black profit status. That's why you should have use an accounting system to adequately calculate all your costs of doing a home woodworking business. In this article, we're going to point out some important considerations for you. Have you ever seen an entrepreneur (think neighborhood lemonade stand) who may have priced the product too low and did not really make any profit at the end of the accounting period? The fifty cent glass of lemonade probably did not include the cost of the vendor's time. >>>For More Information Please Click Here!<<< We will guide you so that you will have a definite way of calculating your home woodworking business costs so as to get the most profit out of your business. Besides discussing finances with you local accountant, you should take into consideration these 6 business costs. 1. Cost of materials The cost will be inclusive of all the materials that you use on each one of your woodworking projects. Do you wonder if it's really necessary to record all the costs of all the materials? Well, not to the point where you're spending all your time listing items like an accountant would detail every expense. Don't forget to write down your time spent doing accounting duties.
Consider placing all your business receipts in a folder and then near the end of your woodworking project, place the dollar numbers on a computer spreadsheet. If you don't own spreadsheet software or don't know how to use it, paper and pencil still work. Include all costs incurred when you purchase materials for a project. Also, it's suggested that you start with the obvious costs like cost of lumber, hardware, finishing materials, glues. Use your receipts for a reminder so that you take in account for all the costs of the materials that you may otherwise consider as miscellaneous. Such costs can be the cost of varnish, sandpaper, cleaning up supplies and more. Don't forget to ask for volume discounts from wherever you buy your supplies. >>>For More Information Please Click Here!<<< 2. Labor Costs Remember the lemonade stand analogy? Remember to incorporate the cost of your own personal labor. Yes, you're worth a certain amount per hour - it's just up to you to figure out what that amount is. To obtain a fairly accurate cost of your labor, ask yourself what you would pay an employee with similar skill if you would hire someone else to do the wood work. Estimate how much time it would take to finish the job. Write down how long and how much. Also, take into account the quality of job when completed, because that has a reflection on the labor costs. What if the job has to be done over? Quality counts for the end consumer. 3. Overhead Costs Have you ever wondered what exactly are overhead expenses? Think 'what is over your head'. Do you pay rent or mortgage on the facility
where you will be conducting your home woodworking business? Don't overlook that overhead costs still must be accounted for even if you are not working on your projects. Overhead costs are expenses like rent, office supplies, heat, water, air-conditioning, advertising, insurance, magazines, classes, etc. Remember to include the incidental costs of shop supplies that are often quite minor. Did you think about including your office phone, fax, internet and even part of your cell phone bill? >>>For More Information Please Click Here!<<< 4. Profit Margin If you don't make a profit, you don't have a profession, you have a hobby. What sort of profit margin do you think you should end up with? It's important to make a profit, but look around and see what the competition is charging. You definitely don't want to overcharge. In the end, you need to come up with a number that you can live with, yet be enough to reward you for the entrepreneurial risk you are taking. 5. Shipping and Handling Whether your end customer lives thousands of miles away or across town, you will incur shipping costs. What about the time that it takes for you to get it ready to be shipped that distance? Figure it in. What about packaging materials? Consider buying insurance against damages that might occur. Even more, what about the gas you burn taking it to the UPS or FedEx pick up place? Running a home woodworking business can have a lot of costs, but has many rewards too. You envision achieving a profit so you can continue enjoying the rewards for a long time. This article was to help you realize all the costs you encounter in the course of doing
your home woodworking business and guide you to the profitable success you deserve. 6. Professional fees You may need to talk to an attorney on occasion, and this is an especially a good idea when you are starting up. Having a good accountant will pay you back many times over. LET THE PROFESSIONALS DO WHAT THEY DO BEST, WHILE YOU DO WHAT YOU LOVE TO DO. If your business grows, and if you choose to let it grow, you may need to hire others to help, especially with sales.
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5. Woodworking Business Plan Starting a woodworking business can be a highly profitable enterprise with a lot of flexibility however it is important that you plan it carefully. Having a woodworking business plan will allow you to borrow funds from investors or the bank in order to get you started. In this guide you will learn what you need to have in your woodworking business plan. Executive Summary Your business plan should start with an executive summary. This will outline the purpose of your enterprise, for example to sell handcrafted wooden furniture, and how you will achieve this goal. It should be brief and to the point. >>>For More Information Please Click Here!<<< Basic Business Information Here you will list basic information about your business. This should include the hours of operation, how long you have been in business, your contact details such as your phone number, email address and website. This does not need to be extensive but should cover the essentials of your business operation. Products or Services Offered Here you will give a summary or the products or services you will be offering. For example if you were producing hand crafted wooden jewellery boxes you might describe the wood that is being used in the construction as well as the techniques that you use to produce these boxes.
Management and Organization Details This is where you will list who the management is for your business. If you are at this point the only person involved in the company then this will simply be you. If you have others working in the company detail the organization structure of your enterprise. Below this list the ownership structure of the business. This is whether your are running a sole proprietorship, partnership or a limited liability company. Marketing Plan This is where you include how you are going to get your customers. This is one of the most important parts of your woodworking business plan because without customers you don't have a business. For example if you are going to have a mail order side to the business you might include direct mail as a marketing method. If you are going to advertise in home and garden magazines this could be another marketing method. List these in bullet point form so they are easy to understand. >>>For More Information Please Click Here!<<< Plan of Operations Think of this as how you are going to spend a day at your business. How will work get done, from taking orders through to delivery? This can really help you to understand how your business will work and any potential problems or room for improvements. Financial Projections If you are planning on borrowing money then this is a very important section. If you are already in business and have a track record of
earnings you can include that here. You can then extend out to the future based on your previous growth. The key to a successful business plan is to include all of the information that is pertinent but no extraneous information. It should be clear and to the point so that even someone who is not familiar with the woodworking industry can follow it. If you want to learn everything you need to know about starting your own Six Figure Woodworking Business pickup your free "Start Your Own Woodworking Business"
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