Content 1. Tips to Starting Your Own Home Woodworking Business 2. The Different Ways To Start A Woodworking Business 3. Why Woodworking Business Start-Ups Do Well In A Recession 4. Should You Start Your Own Woodworking Business? Wood Profits Review 5. Creating Sales Channels For A Woodworking Business
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1. Tips to Starting Your Own Home Woodworking Business Self-employment as a woodworker provides independence. It enables the unique situation where you are able to create wood products, furniture and cabinets at a pace you are comfortable without anyone looking over your shoulder. You essentially become your own boss. If you are tired of the rapidly changing job market and the increasing demand for technology workers, then woodworking provides a degree of technical stability. The woodworking industry evolves very slowly and unless you are involved in the highly computerized and mechanized CNC end of the market, the woodworking industry is very traditional. There are many types of tools and machinery used in conventional woodworking which date back to a century or more ago, to give you an idea of how relevant any knowledge you gain will be useful in the future. >>>For More Information Please Click Here!<<< You will also need to weigh the advantages and disadvantages of becoming a self- employed woodworker in comparison to holding a day job. A day job often provides stability and a regular source of income without the need to worry about the next pay cheque. Of course, we know this is not always true especially in today's rapidly changing economy and the threat of a downsizing or loss of a job is a reality. Until this happens, however, a day job is a reliable source of income. However, the disadvantage of spending forty hours a week at a day job is dependent on the type of work you do and most importantly, do you enjoy what you are doing? If you are as many people out there in the workforce that gain little to no satisfaction
from your work then you should follow your dream and investigate the idea of becoming a part-time or full-time woodworker. Being in business for oneself involves more than just woodworking. There are other aspects to a business you need to take into consideration. Other aspects you to concern yourself with aside from woodworking include: accounting, inventory control, equipment and tool maintenance, purchasing, marketing, advertising, and shipping. These aspects of a business take valuable time away from the core woodworking but are necessary for the business to survive and thrive. You will however learn to manage these other business related tasks with due time and once again revert to woodworking as your primary focus. >>>For More Information Please Click Here!<<< Important questions to ask yourself if you wish to begin woodworking as a business: Have you successfully made furniture or wood products before? Are you comfortable dealing with clients? Are you familiar with the joinery used in woodworking? How skilled are you at applying finishes to wood products, furniture and cabinets? How long does it take you to make a wood product or create furniture? Are you capable of working within deadlines? Can you handle business that detracts from woodworking?
These and other questions are the core of any woodworking business and you will need to cope with these issues at one time or another I haven't touched on the immense satisfaction derived from the independence and freedom derived from being a self-employed woodworker. Speaking from personal experience, I can attest that the freedom gained is unparalleled. There is no more need to dress up and commute back and forth to a workplace which perhaps provides little satisfaction but mostly only financial security. Guaranteed jobs have also become a thing of the past. The often reduced and irregular income which is part of being a self-employed woodworker is well worth it in my opinion. You will also need to determine if you can survive as a woodworker at this point in your life however by weighing your monthly costs which include housing, family expenses, etc. More information about the woodworking business topic can be found at:
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2. The Different Ways To Start A Woodworking Business Once you have decided to go into the woodworking business there are a number of different ways to proceed. If you are fortunate enough to have a woodworking shop that you have used as a hobby you can convert it to a woodworking company. If this is not the case you have other options available. You can start a woodworking business from scratch or you can buy an existing woodworking firm or you can purchase a franchise. All of these are viable options and we will take a look at the pros and cons of each. The one thing to remember is that going into business is not easy no matter which method you chose if it was everyone would do it. Hard work, dedication and sacrifice are all part of the entrepreneurs day-to-day existence. But take it from someone who has done it for himself the rewards far out way the hardships. >>>For More Information Please Click Here!<<< Starting a woodworking business from scratch is by far the most difficult but can also be the most rewarding because it is something that has personal stamp on it, something you have built from the ground up. The first thing you need to do and without a doubt the most important is to develop a detailed business plan. The SBA (small business administration) and all the banks that lend for them won't even consider taking a loan application from someone who has not taken the time to create a proper business plan. The first thing you need to do in the preparation of your business plan is to analyze yourself. You need to be honest with yourself and list your strengths and weaknesses paying special attention to your business experience. The next four steps work together. You need to
choose a product. Are you going to make toys and birdhouses or are you going to produce fine wood furniture. This goes hand in hand with the next step which is to research your market. You need to research the market so that you can forecast sales revenues which will allow you to build pro forma financial statements. Armed with your market research you can then decide where you should locate your new woodworking business,after picking your site you can then develop a production and marketing plans. You will need to develop an organizational plan so as your woodworking business grows and you start to add employees there will be no confusion when it comes to who reports to who. This may not seem important when you are first starting out but becomes very important as you grow. Your business plan will also have to include a legal plan, insurance plan,accounting plan, quality management plan and an overall financial plan. By developing all the different steps in your business plan you can come up with an estimate of the financing that will be required to get your woodworking firm up and running. Remember eight out of ten start-ups fail in the first year. Proper planing helps you avoid a lot of the pitfalls and increases your chances of success. >>>For More Information Please Click Here!<<< Buying out an existing woodworking business is the next option. This option also requires that you prepare a business plan so you can make a honest evaluation of the different woodworking businesses you are considering. You are going to want to have your accountant review all financial statements to verify that the businesses you are considering are operating at a profit. It also gives you an idea of what the woodworking business is worth and what you may be willing to pay for it. There is never any guarantee of success, but the odds are better when buying out an existing business, because a successful woodworking company has proved it can draw customers at a profit,
and they have established relationships with bankers and suppliers which can be very valuable. Weather building a woodworking business from scratch or buying an existing woodworking business a good business plan is a road-map to success. >>>For More Information Please Click Here!<<< Buying a franchise is the next option we will look at. A franchise is an agreement between the franchisee (buyer) and a franchisor (seller). It normally requires a lump sum payment upfront with a percentage of the monthly revenues paid to the franchisor. For this the franchisee gets a proven business model and help in marketing and advertising, employee management and training, shop design and equipment acquisition, site selection assistance and help with financing. The major drawback to franchising is that you are constrained by the franchisor's policies, standards and procedures. in other words, there is a loss of independence that starting a woodworking business from scratch gives you. The last option is turning your woodworking hobby into a woodworking business. In this case, you have the woodworking tools and the shop already set up. This saves you a lot of money at start-up a time when money is normally in short supply. You will still need a business plan for all the reasons stated above. There is absolutely no substitute for proper planning, when it comes to being in business.
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3. Why Woodworking Business Start-Ups Do Well In A Recession As unlikely as it may seem starting a business during a recession is a good idea. Most people who have started their woodworking business during hard economic times have done so because it was necessary. The most common reason for them has been the loss of their job combined with the need to maintain a steady income. Surprisingly, this is often the incentive necessary for many to ultimately do the work that they have always wanted to do, and make a good living at the same time. With the right approach, starting your woodworking business in a recession is a good move that can yield some very positive results. >>>For More Information Please Click Here!<<< Many well-known businesses have had their start during the height of a recession: Microsoft began in 1975 while the U.S. was experiencing a recession and has had phenomenal success. The same is true for Walt Disney, who started his empire in 1923 during another major recession. The United States was going through the great depression was when Hewlett-Packard came into existence. As a matter of fact, more than half of the companies that currently represent the Industrial Average of Dow Jones began in the midst of a recession. Why Business Start-Ups Do Well in a Recession First off, the competition is weakened. Many businesses that began in better economic climates survived because of big profit margins. When their large profits dropped they could no longer survive. When starting a home-based woodworking business your ability to
compete is better because of the low overhead that comes from working at home. This alone is a real advantage when starting a woodworking business. If you already have tools along with a work space, you basically have what's needed to start. Even without tools, you can get the tools you need for under $150. Why You Should Start Your Woodworking Business Now As mentioned earlier, many people start a business out of necessity. Those who get into the woodworking business have a distinct advantage. They are usually passionate about woodworking. It is always easier to develop a new business when you are doing something that you truly enjoy. Properly run, your woodworking business will be very profitable and enjoyable. >>>For More Information Please Click Here!<<< Here are some reasons why you should act now: Extra Income The most obvious reason to start a business is to earn money. You can run your woodworking business form a workshop in your basement or garage and work when you have the available time. If you are starting your business to supplement your income, you can always work weekends and evenings. If this is going to be your only source of income, you will obviously be working full-time The idea of working nights or weekends may not appeal to most people. However, if you're currently employed as a carpenter or do woodworking as a hobby, you already know what you're doing and probably spend time doing this already. So, it makes sense to turn
your time into money. There are not many opportunities to earn a good income doing something that you love. Job Security Nobody's job is safe these days. Having a second income from a woodworking business is a good way to stay protected in the event that you should lose your current job. If that should happen, you could increase your efforts and turn your existing part-time business into a full-time enterprise. Losing your job could end up being one the better changes in your life. >>>For More Information Please Click Here!<<< A Novice Can Start A Woodworking Business A common misconception is that only professional carpenters and master craftsman can start a successful woodworking business. This just isn't the case. Anyone that knows how to use a hammer and nail has the basic skills necessary to get started. Literally everything that you need to teach you how to building simple woodworking products, what tools to use and even how to start a woodworking business as a beginner can be found online. Customers Are Everywhere One of the great benefits of the internet besides being a good source of information is that you can sell your products to people anywhere in the world. The internet is also a good way to give your woodworking business visibility that may not be possible as a homebased operation.
Another simple fact is that during a recession there is always that segment of the population that is not affected. These are the people who have disposable income regardless of the economy. These are the people who would love to buy your products, and one of the best ways to get them as customers is online. If you're ready to take steps toward starting a profitable woodworking business visit
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4. Should You Start Your Own Woodworking Business? Wood Profits Review here is good informative online course available that will teach you in a step-by-step manner exactly how to create a home-based woodworking business. The following is a list of what is contained in the course: The following is a list of what is contained in the course: 1.A guidebook with 53 pages of information about starting a woodworking business. 2.An audio presentation of the same guidebook. Perfect for listening to while driving or in your workshop. 3.An option to also receive hard copies of the guidebook and the audio version on CD. 4.A downloadable e-Book of 500 highly detailed plans of woodworking projects specifically designed for use in the start-up of your woodworking business. 5.A free set of shed building plans. >>>For More Information Please Click Here!<<< Additionally, there is an option to buy a VIP package that includes: 1.More than 1000 contracts and legal documents covering the important aspects of your new woodworking business. 2.Another 150 premium woodworking plans. 3.A lifetime of direct personal consultation from the creator of the course. Yes, there is a real person, and you can actually contact him
directly for personal guidance and advice about your woodworking projects and new business. 4.You will also receive what is referred to as the "Woodworking Bible". It's a huge book that contains just about every kind of woodworking project you could possibly imagine, including detailed plans on how complete them. 5.Three e-Books about green energy with tips on how to reduce energy costs in your work shop. Woodworking Business Basics The tutorial ebook, which is also available in hardcopy form, that comes in the course is an impressive and comprehensive guide that literally takes you by the hand and shows you exactly what steps to take to create a successful woodworking business.It covers every topic from how to develop a business plan to how to balance your costs and profits. It also shows you how to choose and properly price the products that you are going to promote, find customers both locally and nationally, maximize profits and retain customers. >>>For More Information Please Click Here!<<< It is not uncommon when starting a new business to become excited and want to rush into this new money-making venture.There is a great saying: "If you fail to plan, then plan to fail". The program puts a great deal of emphasis on creating a solid and strong business model. A good plan starts with a little research.You need to determine your market, in other words, you have to think about who you are going to target as customers.
Your Woodworking Business Customers Your customers will be determined by what you decide to sell. Although you can't actually control who will buy your products, you can choose which products will appeal to whatever group you would like to target. When starting out, you may want specialize in simpler more affordable projects that appeal to the more cost conscious customers. A good example are average homeowners who want custom-made furniture, but prefer simple and more reasonably priced designs. >>>For More Information Please Click Here!<<< Who you sell to is pretty much up to you. Look around your neighborhood, your city or town and you can easily see what people use and want.There are many different projects that you can produce that will make your woodworking business unique. There are some really interesting product ideas in the woodworking project book that comes with the course, like nautical clocks, salt mills, pepper mills, jewelry boxes, toys and many more. So, pick the category or niche that will appeal to your chosen customer base and go from there. Woodworking Business Tips On the business side of things, do not forget to include your time working as one of your business expenses. You need to compare the time spent on your woodworking business to what you could be earning doing something else.
This program is a great tool for someone who is serious about turning their woodworking hobby into a woodworking business. As with any business, there comes a time when you just cannot do it all b yourself. Hire help as necessary, if the budget allows, to complete your projects on time. Depending on your situation, you could hire a person with a little less experience than yourself and teach them how to build your products. This would allow you time to develop more projects, and also market your business. The bottom line is simple. Follow the tips and business building steps in this program. Stay focused, follow your business plan, and you will have a successful woodworking business up and running in very little time. Visit the Woodworking Today website for more information
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5. Creating Sales Channels For A Woodworking Business Sales are the lifeblood of any business, whether they offer a service or a physical product. In the woodworking business of course, we produce physical products, and they can range anywhere from a simple toy for children to very expensive fine handmade wooden furniture. Whatever niche your woodworking business falls into has a major influence on the type of marketing strategy you will have to use to create sales. So what exactly is a sales channel. A sales channel is the way of bringing a product or service to market so they will be purchased by customers. A sales channel is direct, if it involves a business merchandising directly to customers, or it is indirect, if an intermediary like a distributor is involved in merchandising to customers. >>>For More Information Please Click Here!<<< Lets discuss indirect sales channels first because they fit very well with a woodworking business. Depending on the type of woodworking projects you produce will determine which types of distributors you should be looking for. Let's for example, say you are making fine wooden handmade furniture. Of course you would not start looking at the big box furniture stores that sell mass-produced furniture, because that is not your market. I suggest you check out small specialty furniture stores that sell high-end one of a kind merchandise. Try and find out who their distributors are and contact them to see if they will handle your woodworking projects. You should get a brochure printed up with examples of your best work to hand out to both distributors and retailers.
Another great indirect sales channel for specialty woodworking businesses that I have had a lot of personal experience with are interior design firms. My wife owned her own interior design firm for almost 20 years and she used a large number of woodworking businesses to make fine furniture for high end clients. So get that brochure made and send them out to all interior design firms in your area. Indirect sales channels work well with any woodworking business because it lets you market your woodworking products through a number of different outlets. >>>For More Information Please Click Here!<<< Now let's discuss direct sales channels as it pertains to your woodworking business and how to develop those channels. Remember a direct sales channel is where you market your woodworking products directly to your customers, with no intermediary involved. Use trade shows and craft fairs to show off your products, a good weekend at a high-end craft show can generate a good deal of revenue. You can develop direct sales channels through the use of different print media. You can take ads out in newspapers and magazines because there are still lots of people that read print media, but as time goes on I expect this will inevitably give way more and more to the Internet. Creating a direct sales channel using the Internet can be accomplished in a number of ways. You can start a blog for free at sites like blogger.com, where you can post articles about your work. You can take part in forums, but look for forms that are dedicated to woodworking. You can also start your own website, but if you do, you are going to do your research on SEO (search engine optimization), which no matter what anyone tells you is extremely
hard to accomplish. Remember you're competing with literally millions of other sites. In order to have a successful woodworking business, you will need to develop both direct and in direct sales channels as part of your marketing strategy.
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