How to Start a Home-Based Carpentry Business

With every up and down of the economy, there is never a shortage of cottage industries, the home improvement sector included. Starting a home-based carpentry business can be an appealing option with low overhead, no shortage of work and low stress.

Things You'll Need

• Home workshop (garage, basement, barn) Service vehicle Tools for onsite work

Instructions

1. 

   Choose your niche and use your forte to make money. If you specialize in finish carpentry, then play up that aspect. If you prefer inside work over outside work, then target that market. If you're a generalist, there is a lot of competition out there, so you'll have to think outside the box and look for the sweet spot. You can base your strategy on price, your availability outside of traditional business hours or even on your solid reputation.

2. Do your homework. Check with your local zoning commission to see what (if any) local ordinances there are for running a business in a residential zone. Check with your homeowners insurance company to see if your current policy covers a home-based business. Also purchase umbrella liability insurance since you'll most likely be working at other people's houses and will need protection in case something goes terribly wrong. You may also have to register your business with your city or town, so make the rounds at town hall and visit the different offices that may concern your business.

3. 

   Set up your workshop. It can be in a garage, a barn or a basement. As long as it has ample space to work, the proper electrical requirements, enough light and provides easy access to the outside world, you're good. Of course, you can always build your own.

4. Outfit your vehicle with every tool and supply you'll possibly need for onsite jobs. The biggest time killer in a contractor's day is the time spent having to travel to pick up tools or supplies, so keep things on hand and save a few hours of your time weekly.

5. 

   Brand your business by creating a professional brochure, website and business card. Get a cell phone to be available when on the run and have references available at a moment's notice. Put your logo, phone number and website on your service vehicle, carry business cards with you at all times and if local zoning laws allow it (and your clients have cleared it), post a sign outside your work sites.

6. Advertise, advertise, advertise. Get the word out that you're a viable option in the field. Use all available avenues to promote your business, including advertising in the local papers, advertising with a direct mail coupon company and trying to get press in the local paper--either through a new business piece, or even as a home repair Q&A columnist.

7. Generate positive public relations for yourself by donating time and/or supplies to charities that rely on skilled craftsmen. Getting your name in the news for sponsoring a day of AmeriCares or helping rebuild a local recreation center will more than pay dividends in the good karma department, as well as be a major source of free publicity.

Tips & Warnings

• Good customer service and goodwill goes a lot farther than most people think. Offer discounts for payments in cash, as well as discounts for referrals.

• Don't attempt to do this without obtaining the proper licenses, permits and insurance. Take the high road when dealing with taxes and the IRS.

Resources

• Business Pundit: The worst thing about working for yourself
• Working for Yourself by Stephen Fishman