Starting a woodworking business could be the perfect job if you love working with your hands and building things. Nothing beats making money while doing something you love. However, starting a business can be tricky, especially without a bit of guidance. Uncover the top tips for creating a successful woodworking business to keep things simple.
Create a Plan
All great projects start with a plan, and beginning a business is no different. You’ll need to decide on a few key things, like:
- Who you’ll market to
- What type of items you’ll build
- What you’ll charge for a piece
Keep in mind that many of these factors are interrelated. For instance, who you market to could impact price, and that may impact the materials you purchase. If you create high-end pieces, you’ll want buyers looking for luxury items which also means investing in higher-quality wood.
You’ll also need to decide on what type of wooden items you want to sell. Trinkets and décor may not sell to the same demographic as large furniture like kitchen tables, nor will they come at the same price.
Budget Your Spending
Jot down how much your tools and materials cost. You should also budget for smaller business essentials like your website, business cards, and more. Finally, track the time it takes to build each piece so your time gets incorporated into the price.
Your time is as valuable as the materials. The price you charge per project depends on your time and expenses but should also remain at a fair rate. To make things a bit easier, consider what you’d be willing to pay if you saw a similar, handmade item online.
Use the Best Tools
When you have a woodworking business, your hobby becomes more than a fun pastime. You need high-end equipment you can rely on for quality pieces. This includes electric saws, sanders, wood connectors, etc. Many woodworkers use non-visible connectors to assemble their works because it joins from the inside. This results in projects with a seamless finish and no outside holes from nails and screws.
Create an Ideal Schedule
When you begin, this may be more of a side gig than your sole source of income. As a result, a vital tip for starting a successful woodworking business is creating a schedule that works best for your lifestyle.
You should work more than once a week because you want to complete projects in an appropriate amount of time. On the other hand, you don’t want to spread yourself too thin. If you accept custom orders, you may have to create a waitlist for customers so you don’t take on too much at once.
Market Your Business
Finally, the best way to entice people is by showing off your past and current projects. Strive to post photos of your completed works so people can see the beautiful wooden pieces they could order from you. Also, try talking to friends and family to see if they can recommend your services to others. A little marketing goes a long way in ensuring your business thrives.
